Brokers are coming around to the idea that social media plays an important role in conducting business – but doing it successfully remains a mystery for many.
One man has led the charge in helping mortgage brokers and real estate agents develop their social media platforms; and now, that expertise is available to insurance brokers.
“One of the areas that we see professionals putting themselves at risk is setting up an online profile and then doing nothing with it,” says Chris Johnstone, the founder and president of the online marketing and social media consulting firm Cwjstone.com. “Potential clients are at a point where they research – especially in the insurance industry – before they’ll either give them a call or at least give them their business. If they show up to a Facebook page that was set up two years ago and there is nothing on it, they’ll think they are out of business or even worse, they don’t care.”
Aside from abandoned profiles, another online faux pas Johnstone commonly sees is what he terms as a lack of moderation.
“We’ll see clients going out and engaging a brand and trying to start a conversation with a professional, and there is no response that ever comes back,” he told Insurance Business. “And everybody gets to see that you left that person hanging.”
Johnstone’s business currently has 15 social media managers across the country assisting some 75 clients set up and effectively operate their social media platforms. And the list is growing, with a waiting list of 28 clients.
The managers provide the level of expertise for the client in managing the Facebook shares, likes and tweets for those on Twitter.
“It is truly 'hands off' for the client,” says Johnstone.
Traditionally, companies had passed off their social media to summer students, not giving Facebook or Twitter much thought. But that has changed.
“They may know the networks, but they don’t know how to generate customers or convey the professionalism of a brand,” says Johnstone. “So knowing what buttons to press is one thing – knowing how to go out and generate a client and a customer is actually a marketing strategy.” (continued.)
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Johnstone’s company looks at the social networks as a medium, like running an advertisement in the newspaper or on a billboard or a bus stop bench.
“The internet is where the majority of the clients are,” he says, “so it is a very effective medium.”
Making social media platforms work can be broken down into three areas, says Johnstone.
“The first is data-based marketing. Making sure all of the past and existing clients are connected to them on social media. We send them a direct message to open that communication channel, and remind them that referrals are always appreciated,” he says. “Then we keep that professional top of mind by going out and engaging with that client’s content – by liking, commenting and sharing, so that there is that constant reminder of the relationship between them and the professional.
“We solicit testimonials, so the client is encouraged to go to the broker’s Facebook page and give them a five-star testimonial, so that spreads out to all the people the clients are connected to on social media.
“Secondly, on the business page side of things, we focus on good content creation, so they are seen as an expert voice in the marketplace,” continues Johnstone, “then we work on referral marketing – going out and networking them with other professionals that can send them business and opening up new referral relationships. The third is advertising.”
Aside from those three areas to making social media platforms work, there is one significant component of going online that many brokers haven’t taken advantage of.
“Advetising,” says Johnstone. “The opportunities that we see with the targeting and the ability to generate a local customer, is better than anything we’ve ever seen. AdWords; it is a phenomenal opportunity, and hardly anybody is tapping into the marketplace.”
