Plus of the Week: Brokers take on social media
Recent figures highlighted by Insurance Age showed a fifth of brokers have embraced the social media world within the last 12 months. The poll, done by insurer Ecclesiastical, surveyed 250 brokers and found that 22% had started using LinkedIn for the first time in the past 12 months, favouring this as their main social platform for their business along with Twitter. However, roughly half of brokers contacted their clients just once or twice a year. The figures demonstrate that brokers are increasingly recognising the wider communication opportunities that social media can provide. The poll suggests that uptake of social media is in the early stages of its development, with brokers struggling to engage.
- 94% of brokers polled contact clients with renewal reminders, just 29% contact offer additional products or upsell
- Just a third of small brokers speak to their clients at renewal time
- Only 5.2% were using social platforms to showcase their good news and success.
- 54% said it was not a priority to engage with people under 30 years old despite growing numbers within this demographic
- Only 30% of brokers put case studies on their own websites only 5% are signposting clients to this on social media
Ecclesiastical said: “It can also help them to differentiate their business proposition by telling their story. There’s an opportunity for everyone within the insurance industry to help brokers be social savvy. Whether it’s face to face, via email, over the phone or over a social network, there are lots of opportunities for more dynamic and engaging conversations to better click with customers.”
Our Innovation and Development Director, Craig Freeman had the following to say after reading the report: “We understand that social media can be daunting for businesses to know where to start, let alone how to maximise the effectiveness of it. However, by not using it, or not fully understanding how it could help to grow their business, brokers are at risk of competitors or start-ups from the Fintech world communicating to their clients and prospects, and building their own relationships. If you do not have the internal resources to support digital communications, then you should look to outsource it. With the right strategy and the right support you should see tangible returns.”
Although the first tweet may have been sent 10 years ago, the industry still has some way to go.
If you’re interested in growing your social media presence, contact us at firstname.lastname@example.org.