Episode Summary
This podcast episode provides valuable insights on social media marketing strategies that work for insurance agents in 2023. Many agents fall into the trap of spending heavily on broad social media lead-generation tactics and ads targeted at consumers. However, these rarely provide quality leads and sales at an efficient cost.
The host explains that while social networks were created for networking and relationship building, many like Facebook have now evolved into entertainment platforms. However, LinkedIn remains focused on professional networking connections. This makes it the best social media platform for insurance agents to focus on in 2023.
Rather than blasting irrelevant content to consumers, agents should identify and connect with professionals on LinkedIn that serve their ideal client demographic and could provide referrals. The host explains that there are referral sources all around you locally that you likely aren't connected to on LinkedIn already. Warm referrals from local professionals convert at much higher rates than cold leads from consumer ads.
For consumer outreach, targeted hyperlocal Facebook ads perform much better than broad lead-generation ads. Promoting involvement with local events, sponsorships, and community organizations builds brand awareness and trust. The host advises documenting activities with photos and boosted posts targeted within a small geographic radius around the event or community. This long-term local brand building provides better ROI than chasing short-term conversions from poor-quality leads.
Viral video platforms like TikTok can generate leads but require massive effort for uncertain rewards. The host recommends insurance agents stick to channels like Facebook and LinkedIn that allow targeting of efforts by location and demographics. Recent compliance crackdowns on call centers also highlight the renewed need for trusted local experts.
The key takeaway is that effective social media marketers take a long view on building their brand and community trust vs. chasing low-quality conversions. Consistency is critical in documenting and promoting local involvement and relationship-building efforts. This establishes the agent as the go-to local insurance expert.
Rather than outdated lead generation tactics, agents need to focus on social media strategies that build awareness of their expertise, experience, and community connections. This attracts warm referrals and word-of-mouth recommendations. The full podcast dives deeper into social media marketing tips that deliver results for insurance agents in 2023.
Timestamps
(0:00:05) - Every possible referral source in your local area on LinkedIn is not connected to you
(0:00:56) - Broker link: What is social media today versus what it will be in 2023
(0:04:07) - What is social media? And think for yourself. Hopefully, that helps you narrow it down
(0:04:54) - Word-of-mouth referrals tend to be the best sales in this business
(0:12:25) - You can run Facebook lead ads and make money doing it
(0:19:30) - Marketing agencies are increasingly using social media to boost local events
(0:24:54) - How can you use social media to reach the people right there around you
