Big names in the insurance industry come with big budgets. In 2019, Geico and State Farm spent $1.62 billion and $1.02 billion, respectively, on advertisements alone.
How can local insurance companies compete?
The secret: social media campaigns.
By leveraging the power of social media, mid-sized insurance companies can increase brand awareness and generate quality leads. Here are three campaigns to consider implementing:
Testimonials. These are more than just kind words from a satisfied client. Testimonials are social proof of your company’s success and credibility. This is a great way to reach prospects without a sales pitch. Let the unbiased voice of your existing clients tell your audience they need life insurance and do the “selling” for you.
You might include your most recent Net Promoter Score or pulling existing testimonials from your social media, website, or Google My Business page.
When running a testimonial campaign, here are best practices to follow:
- Prioritize the visual element of social media. Spend time and/or resources creating a quality graphic for your post that aligns with your brand. Here are some templates to consider for inspiration.
- Don’t feel as if you need to include the entire testimonial, especially if it’s lengthy. Choose the most impactful sentence(s) highlighting what’s unique about the services you offer—like your stellar customer service or wide variety of coverage.
Testimonials do more than provide high-quality content for social media; they can also be used in marketing collateral such as brochures, blog posts, and white pages.
Promote company culture. What differentiates mid-sized agencies from the big guys is the personalized care your team provides. Highlighting your company’s culture demonstrates an authenticity the big guys with hundreds of employees don't have.
By company culture, we mean a composition of your mission, goals, and values combined with the overall tone of your office. What is it like working with you? Strictly professional? Warm and inviting? You get to decide and communicate that to your audience.
Here are a few content ideas to consider:
- Share photos of your whole team or highlighting individual team members.
- Leverage employee-generated content by having them post to their own social media, such as LinkedIn.
- Give a “behind-the-scenes” look to followers, such as office celebrations or team-building activities—fun posts that provide prospects with a humanizing view of your company.
Use paid ads for your target market. Large insurance companies like Geico and State Farm pay for expensive TV spots and keyword ranking, but your advertising budget is better spent on targeted social media ads. This should be done in addition to organic (or non-paid) posting. Unfortunately, several third-party studies found the algorithms on platforms like Facebook and Instagram no longer prioritize organic content like they used to. This makes paid ads necessary to stay top-of-mind.
To create quality lead funnels, you want your advertisement to be seen not necessarily by a ton of people, but by the right people. Social media platforms allow you to set specific parameters for your ad, such demographics and interests. When creating your paid ad, here a few key details to remember:
- Make sure your ad is visually enticing to your target market. You want to “stop the scroll.” For example, an engaging infographic comparing your company’s insurance rate to a competitor gets your audience’s attention while providing valuable information.
- Be clear about what you are offering (services, a consultation, webinar, free download, etc.).
- Include a strong call-to-action (“Learn more” or “Contact us”).
Once you determine the best campaign for your company, it’s time to start leveraging social media to extend your marketing reach (without spending a billion dollars).
For more tips on balancing social media marketing with compliance concerns, check out this helpful post.