More than 2 billion people worldwide use social media platforms such as Twitter, LinkedIn, Facebook, and Instagram—and the number is growing. The old marketing adage says to go where your audience is, and one thing is clear: no matter what type of prospect you’re looking to attract, they can be found somewhere on social media. So should insurance agents incorporate paid social media marketing into your outreach? It depends. Here are a few instances when it may pay off to experiment.
When you’re not getting high volume organically. One of the problems with not having a large audience is that when you post, no one will see it. It’s a catch-22. You want people to like, share, and talk about your content—and the more people do, the more your audience grows. But if no one can see it in the first place, no one will share it—no matter how great it is. This cycle is frustrating for those just starting out in social media—and can lead you to give up early.
Paid social media ads ensure you get in front of an audience when your organic traffic isn’t enough to make it happen on its own. And often it’s highly customizable to the right audience. For instance, Facebook lets you target your ads by profession—you can choose to target insurance agents specifically, as well as targeting people with very specific interests and demographics outside of or within that profession.
When you want to reach out to a new audience. For instance, let’s say you’ve been working with the insurance community in one city or state—and now you’re making a move across the country. Wholesale insurance is a relationship-centric business, and you’ll need to make connections and build contacts in your new state. But everyone who follows you on social media is in your previous location.
Paid social media lets you geotarget—so you can get your posts out to the professionals living in your new area. It can help you get in front of them, open doors, and build up a following in conjunction with your on-the-ground networking efforts.
When you have a specific goal in mind. Some social media platforms let you get really specific about your advertising goals—Facebook is one of those. They also give you a range of metrics to gauge how well it’s working. Before you start on a paid campaign, it’s essential to have a specific goal in mind—such as generating qualified leads, boosting income, getting downloads for a specific white paper or other information piece, or building your expert reputation by generating wide exposure and conversations around a piece of content.
Paid social media advertising can be a great option for wholesale insurance professionals in any specialization. It’s great for building an audience, pivoting to a new audience, and broadening your reach. However, it’s essential to be specific about your goals—and rigorous about tracking. If you are, you’re more likely to ensure you get what you want.