Just recently, a research study conducted by Limelight Network, Inc. has concluded that Baby Boomers are spending more than 15 hours online per week, making them the majority power users online. With 55% of seniors on Facebook in 2014, implementing a Facebook marketing strategy should no longer be an afterthought for senior market insurance agents. Companies of all sizes from every industry have made the leap into Facebook and are actively planning strategic campaigns around their social activity, but senior market insurance agents have seemingly lagged behind.
Why is this?
Is it a lack of understanding about social media as a whole and how it integrates with marketing efforts?
Or, could it be somewhat of a fear of compliance with regulations set standard by CMS?
These obstacles should not stand in the way of building up Facebook marketing strategies, as they are all easily overcome. See, there's a lovely void of which YOU can take advantage: There aren't very many agents in the game and the bar for Facebook marketing strategy is set pretty darn low. With that in mind, let’s get into the three reasons why senior market insurance agents should be utilizing Facebook.
1) It helps you to better service and retain your existing clients
The rapid pace of consumer and technological change is like nothing seen before. Access to digital technologies has equipped consumers with the ability to research, read reviews, share recommendations and get instant answers to their inquiries. In turn, it’s caused much disruption to traditional insurance business models and has created quite a significant change in consumer expectations and behaviors.
Facebook is a great way to spread the word about the social, political and economic industry trends and changes. For example, there's plenty of misleading or confusing information on the Internet about Medicare - think about ways in which you can use your Facebook page to positively impact clients and the public to combat this. Be conscious of articles that may come across your eyes, such as those elaborating upon the rising Medicare Part B Premiums or the pressures mounting for Medicare drug benefits, and be sure to share your ideas upon them with your audience. The idea here is to limit self-promotional posts and instead focus on ways that help clients make sense of the abundance of product information, as your Facebook marketing strategy should not revolve around selling a product or a service.
2) It improves the overall client experience
To keep up-to-date with your clients and gain insight, use your Facebook as a way to inform, assist, and entertain them.
Engage with them. Show off your personality. Humanize your business as a senior market insurance agent. Respond to reviews and inquiries.
3) It will attract new clients
Apparently, Baby Boomers are spending more time online per week than we do sleeping each night. With that being said, it’s a no-brainer that Facebook can serve as a great way to reach prospective clients. Plus, as mentioned above, not many other senior market insurance agents have implemented their own Facebook marketing strategy.
Use Facebook as a platform to raise awareness to your business as a senior market insurance agent, or (if you have a personal website) to drive prospects toward landing pages so that you can nurture those leads into becoming clients. Your Facebook posts should be relevant, well-written and accompanied by media to grab your audience's attention. The sky is the limit here - Explaining the enrollment process through infographics, guiding them to video resources that may explain Medicare a little more in depth, etc.
No matter which segment your specialty lies within, whether it's Medicare Supplements, Medicare Advantage, Annuities or Final Expense, your Facebook marketing efforts will relay social proof that emphasizes your role as a highly-trusted, impartial advisor. When it comes down to it, this is what will get you shares, likes, retweets and favorites - in turn, landing you more referrals!
As the number of seniors on Facebook continues to evolve, more reasons for you to get started on your Facebook marketing strategy will come about. If it helps, you can always search around for other insurance agents on Facebook and get a sense for what they’re posting. Jot down some notes of what resonates with you versus what feels a bit off. After you get comfortable, you’re ready to create your Facebook page and start engaging with your clients on Facebook.
For ideas on what to post, or to stay up-to-date with industry trends and changes, be sure to like Precision Senior Marketing on Facebook! :)
Your senior market insurance business will flourish for years to come.