How to Leverage Digital Marketing to Grow Your Insurance Business

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Fact: thousands of Americans are uninsured. Kaiser revealed that in 2018, over 27 million non-elderly adults don’t have insurance coverage. This figure didn’t include those who had insufficient insurance.

While several Americans cannot afford it or personally opt-out, others cannot get a policy because they don’t know what to do. As an insurance business, it is your job to bring your products closer to them, beginning with maximizing these digital marketing tools:

1. Mailing Lists and Autoresponders

E-mail marketing remains a gold standard in digital marketing for several reasons:

  • It allows businesses to create targeted campaigns.
  • It provides an excellent return on investment (ROI). According to the data compiled by HubSpot, it generates a whopping 3,800% ROI. That’s $38 for every $1 spent.
  • It is less tedious as previously thought.
  • It helps insurance agencies build relationships with their clients.

On the last point, insurance businesses can use mailing lists and autoresponders. The first one captures two essential information: name and e-mail address. The latter, though, help build relationships through automation.

With platforms like Aweber and GetResponse, digital marketers can schedule newsletters, product e-mails, and other types of content and then track the performance of each. This way, they can adequately measure the effectiveness of such a strategy.

Product Design Process

2. Customer Relationship Management Software

Relationships matter in insurance. Otherwise, the client can simply not pay the policy or bring their business elsewhere. Maintaining it, however, is challenging, particularly if the agency manages several agents and hundreds of clients.

This is where customer relationship management (CRM) programs, like Smart Agent’s Agency Management System, come in. With it, users can:

  • Track what level of the sales funnels the leads are
  • Launch some campaigns
  • Manage policies and contacts
  • Cross-sell products and services
  • Share information with other users

Unlike legacy platforms, new kinds of CRMs are already accessible via the cloud. Users can now view and even share data anytime, anywhere. The best ones also offer excellent security features, which essential to safeguard confidential data.

3. YouTube

Various studies and reports show that YouTube has a huge following. According to a Hootsuite infographic, the video channel has at least 2 billion active users. Each spends about 11 minutes daily watching the content.

However, for businesses, the power of YouTube comes from its ability to generate leads and, of course, revenues. Check out the data compiled by Oberlo:

  • It could attract up to 66% more qualified leads annually.
  • At least 85% of digital marketers are satisfied with the ROI YouTube provides.
  • It is the most popular social media platform for marketers. Facebook only comes second.
  • An overwhelming 80% of customers bought a product or a service after watching a YouTube video.

While the best videos to upload are how-tos, agencies can also consider:

  • Kinds of social proof, such as industry reviews and testimonials
  • Expert interviews
  • Case studies
  • About Us videos, such as agent profiles
  • Product or service portfolios
  • Industry updates and news

According to Statista, digital buyers could grow to 2.14 billion in 2021. That’s over a billion more people compared to seven years ago. Now is the right time to make your insurance firm more visible online by leveraging these available tools.

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