As a firm believer that social media is the future of marketing and advertising, there’s not many people I think don’t need to start working on their strategies in this world. However, there are some industries that can positively prosper from an emphasis on social media, and insurance is one of them.
What’s that, you say? Insurance is faceless and boring? I thought you might say that!
This, precisely, is why insurance companies need social media–to develop relationships that seem more personal, to demystify classes of deductibles, to distinguish themselves without adding another godforsaken talking animal spokes..being.
Here are the top 4 reasons why insurance companies need social media. If you know much about social media marketing, you’ll see quickly that these reasons aren’t unique to the insurance industry, but the industry can especially grow from their implementation.
Genuine word-of-mouth promotions grow trust.
Advertisements are being replaced by real people. According to the National Association of Insurance Commissioners’ “The Use of Social Media in Insurance,” a “person like me” is now the most credible spokesperson for companies, according to at least one global survey. The share of people who trust “a person like me” more than they trust brands or organizations is increasing globally each year. Surveys indicate that 90% of consumers trust peer recommendations, compared to only 14% who trust advertisements.” Take a look at these recent examples found on the social media platforms of other insurance agencies.
The Twitter search for @Pemco, a Pacific Northwestern insurance company, this is the first result. Rod Brooks has 5,901 followers. This tweet was piped into each of their newsfeeds.
A search for @Progressive shows this real tweet that promotes the insurance giant more than any commercial. Why? It shows the savings are real and not just marketing tactics. Note Progressive’s interaction with the customer, as well, creating what will likely be a lifetime customer.
An @esurance search comes back with a raving testimonial that serves as word-of-mouth marketing for the brand that other users trust and prefer over traditional marketing.
Grow your visibility–to both current and potential customers.
This Madison, WI insurance company uses Pinterest to pin useful, interesting, or entertaining information and tips. Pinterest is an excellent way to virally spread information naturally and become a household name.
3. Customer Service
Before it’s too late.
Insurance giant Geico has an entire Twitter profile to handle customer service issues. By keeping an eye on who’s talking about their company, they can intercept an unsatisfied customer to change their experience. Additionally, a user who tends to blast bad experiences on social media will likely praise good experiences or turnarounds.
This is especially important in the insurance industry. Why? People don’t usually cash in on their insurance unless something bad has happened; they’re already in a difficult position. Additionally, insurance companies are known for giving the “run-around”.. Prompt and friendly customer service might just blow them away and inspire some of those #customerforlife hashtags we saw in Part #1.
4. Customer Relations
Develop a personal relationship with your customers.
Insurance companies have a bad reputation for appearing “faceless” to customers. This is changing for insurance companies who are taking advantage of properly executed social media marketing strategies.
Metlife maintains an active Facebook page. This recent post has little to do with insurance policies and premiums but sparked interaction among fans, thereby making Metlife much more personal in their customers’ eyes.
Does your insurance company utilize social media? If so… do you connect with them on this platform?