Digital insurance marketing is the way of the world right now. We have the power to reach out to new consumers and markets through the internet like never before. But with these advancements, agents should remember that advertising isn’t limited to digital marketing. Your advertising strategy should still include old-fashioned word-of-mouth promotion along with these modern methods. See, the internet is over-saturated with insurance agents advertising all kinds of promises. This leaves consumers with the burden of figuring out who is authentic and who is just another savvy online marketer. Word of mouth promotion bridges this gap. While you may not be able to get business solely off of referrals, they are an important part of your reputation.
Why Boost Word-of-Mouth Insurance Marketing?
1. Timing
Timing is a key reason why word of mouth insurance marketing is so influential. While ads may catch someone’s eye at any moment of the day, a referral will have the most impact when someone is actively searching. Your clients don’t walk around praising your amazing customer service all day, and we’re glad they don’t! (Imagine how annoyed the people around them would become.) Consumers today are exposed to so many ads (an estimated average of anywhere from [1]4,000 to 10,000 a day) that we’ve learned to tune most of them out. But, of course, that doesn’t mean people don’t want advertisements; they just want it when it’s convenient. And your past clients are perfect at timing, knowing just the window to mention you. Their recommendations will come at a time of need, making the success rate much higher.
2. Credibility
Word of mouth gives agents an extra boost of credibility. The [2]number one most trusted form of insurance marketing is through family and friends. If someone’s peer can vouch for your services, their expectations for you are higher. People tend to believe that the actions of a crowd are correct. This gives you the advantage of clients being more susceptive to you as an agent. In the end, while referrals will only be a small portion of your leads, they have a large success rate.
3. Traceability
Insurance marketing becomes most effective when you can track the process, see the outcomes, and find what was most successful. (Rinse and repeat.) Getting referrals from clients is an easy way to trace your best tactics. After all, you can simply ask who recommended you. Figuring out what made you stand out to that client is essential for you to continue getting referrals. Did you send them birthday cards? Sponsor their kids’ local sports team? Once you identify the key factor, you can start highlighting those behaviors to continue the trend of referrals.
Customer referrals are a timeless form of insurance marketing, but what are some of the most effective methods?
Testimonials
Online reviews are one of the topmost effective ways to establish trust from clients. People want to hear that if they chose your services, they will not regret it. Reading a testimonial will convey your success and reliability. The majority of Americans who read positive reviews are more comfortable and probable to complete a sale. A great example of this is Yelp where [3]one star can affect business revenue by 5-9%. Other examples of testimonials include asking clients to write a success story for social media, giving a LinkedIn endorsement, or having client quotes on your website.
Stay Relevant
Staying connected with clients is a great way to stay fresh on their minds when it’s time for a recommendation. Of course, this can happen in many different ways such as engaging on social media, sending cards, and more. A good lasting impression on past clients will give better chances of getting their referral.
It’s easy to underestimate the power of a referral as insurance marketing. It’s not as flashy as the stuff we see today. But the authenticity behind referrals and reviews portray a truth that most feel is masked in the majority of ads. Give potential clients confidence in you with the use of referrals.
[1] Forbes: Finding Brand Success In The Digital World | https://tinyurl.com/rex9d78
[2] Marketing Charts | https://tinyurl.com/ub89d43
[3] “A one-star increase on Yelp can lead to a 5-9% increase in business revenue (Harvard Business School, Michael Luca, 2016)” | https://tinyurl.com/qvmhgxu