Social Media: The Good and the Bad

Can you think of one successful business that isn’t on social media? (……I’ll wait….). It’s almost 2017, (in two weeks to be exact!), and social media activity has become the core of any marketing strategy, for any business, in any industry. So naturally, this applies to the insurance industry too.

As with any successful tool, social media harbors both benefits and risks to businesses. In being social, companies can engage with their customers on a more personal level, understand the way that their customers talk about their brand, product/ service and competitors, and make monitoring external factors easier in the case of damage control. But on the other end, as Warren Buffet said, ‘It takes 20 years to build a reputation and five minutes to ruin it.’ With that said it’s imperative that companies have personnel to actively monitor, engage, reap the benefits and constantly be prepared.

In the insurance industry, agents are the front-line, meaning they are the first people customers interact with. In that, agents often have their own social media pages to connect with their customers and gain leads; so companies must take the time to invest in their agents, training them not only on the product, but on social media etiquette and retaining a certain online reputation. One wrong post or one offensive video will not only put the reputation of the agent at risk but the company at large. But even though there are these risks, it is never okay for a company to not be social. Social media offers two-way interaction that traditional media such as commercials, just can’t.

Here are three key points an insurance company must remember when (not if) they go social:

  1. Train from the top to the bottom. Because their sales floor has access to social as well, messaging and etiquette must be consistent.
  2. Build relationships and engage daily. Every post doesn’t have to be directly about quoting, but can be helpful/ safety tips. Just makes sure customers hear from you on a regular basis.
  3. Monitor, monitor, monitor. You don’t want to miss a thing, good or bad.

 

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