Marketing and Tech Trends Brokers Should Embrace
Enhancing your marketing through technology is important to compete in a changing health insurance marketplace. Below are four suggestions to help you build your business, enhance your online reputation, improve your marketing, and increase your use of technology and social media.
GET ONLINE – OR BROADEN YOUR ONLINE PROFILE
If you’re not currently online, you’re already working at a disadvantage. If you are online, you may not be doing enough. With millions going to the Internet to seek out product and company reviews, it’s important to be “findable,” so having your own website is essential. Beyond that, you can build your online reputation by posting and sharing positive reviews (from current or past customers) and by contributing to others’ blogs or writing your own.
It’s suggested by many online articles that you spend some of your ad budget on Facebook. It does have millions of monthly active users in the U.S. That’s both good and bad, because you’re competing with a lot of other advertisers for the eyes of local users.
When considering online marketing, it’s important to know what social media matches your target market segment. If you’re targeting Millennials (those 20 to 35), about 70 percent use Facebook, while 63 percent are YouTube users. For Gen Xers (ages 36-49), about 80 percent are on Facebook and Twitter, but only half are considered active users. Among those, 68 percent make purchasing decisions based on online reviews. For Baby Boomers (ages 50 to 65), Facebook is the most preferred social networking site. For the younger demographic, Gen Z (the post-Millennials, ages 13-19), Instagram is where you should focus, although they may be less interested in insurance since most are likely covered by parental insurance.
REVIEW YOUR DATABASE
To make the most of what’s in your database, the most important thing you can do is ensure its accuracy. You’re throwing your time and money away if you are spending it on a marketing campaign that never reaches its intended target. “Clean” data is critical; bad data undermines your success. Take the time regularly to review and update your list – removing bad data and deleting those who have asked to be taken off of your list.
ENHANCE YOUR QUOTING
The health insurance industry has changed a lot in the past decade. And it continues to change. Has your quoting kept pace? There are many multi-carrier quoting engines (some paired with Customer Relationship Management tools) available in the marketplace today. If you work with a general agent, you may find your GA also offers a multi-carrier quote engine. WBQuote from Word & Brown offers side-by-side multiple carrier plan comparisons (with highlighted differences, current vs. proposed), multilingual enrollment materials, guaranteed rate accuracy, and an API integration with EaseCentral, Limelight Health, and CaliforniaChoice to expedite online enrollments, among other features.
OTHER MARKETING IDEAS
Of course, there are other marketing strategies you can embrace to be more successful, too. Be creative in your subject lines and you could boost your open rate. Do a mailing to current customers asking for referrals. Consider a referral program that offers those who share leads with you entry into a monthly drawing for a restaurant gift certificate or other prize. Use a Customer Relationship Management (CRM) program to stay in front on past prospects and customers. You may find you can “reheat” your cold leads and fill your pipeline for weeks to come. Email is a very effective method to stay top of mind with past and current customers. Video is another tool to consider. Upgrading your current website to include it can help you generate added buzz and new prospects.
For additional ideas, or to put the evolving technology of Word & Brown to work for you, your agency, and your clients, contact your Word & Brown representative – or one of our six regional marketing centers in California and Nevada. Word & Brown has been working with brokers for more than 30 years, providing the tools and resources to help you serve the diverse needs of your customers.