We've all heard claims that “e-mail is dying” and the “next” social media platform whether it is Facebook, Twitter, Google+, LinkedIn, Instagram, Pinterest or Snapchat is the new silver bullet for marketers.
But e-mail marketing is far from dead, and every agency owner should place e-mail ahead of social media efforts. This is not meant to steer you away from social media, but to help you prioritize your efforts by focusing on “low-hanging fruit.”
The fact is, 60% of consumers prefer communicating with brands through regular e-mail updates and newsletters compared to social media platforms.
Yes, social media can be effective, but you’ll want to make sure you master e-mail first. Here’s why:
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- You already have the email addresses of your clients. A seasoned agency may have 2,000 to 4,000 clients and hopefully has e-mail addresses for the majority of these clients. Contrast that with social media; even a Facebook superstar is only going to convince 10 to 20% of their entire book to join them on social media. This number is even less if the demographic is older.
- Your clients or prospects don’t have “join” a new social network to engage with you. This one is key, almost everyone has an e-mail address, but not everyone is on social media. What you can be sure of is reaching your clients via their inbox through email marketing.
Okay, so let’s just say that you’ve convinced that 10% to 20% of your book to “like” your Facebook page or interact in some way. In order for this to truly have a positive impact on your return on investment and customer retention, they have to remember to visit your page. You are not staying top of mind this way.
In addition, it’s important to remember that once a client or prospect has visited your page, there's a good chance the content won't be seen unless it’s boosted (pay to play). - E-mail marketing is the best option for “one to many” touches. If you are going to make the effort to create awesome content, you might as well get the most of these efforts by sharing this with your entire book.
A perfect example is Holidays. Plenty of agents posting “Happy Holidays” content on Facebook, whether it be a picture, a blog post, or even a short video. Why not send this content to your entire book? Sharing content via e-mail is a simple and cost-effective way to touch your entire book and can be a great “retention touch.” A simple touch throughout the year can help to reinforce your value.
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Your agency can use automated messages to stay welcome new clients and stay in touch with them throughout the year. (Photo: iStock)
|With e-mail marketing, you can leverage automation
For birthdays: Not every service provider has the birthdays of his or her clients (think about mortgage, real estate, auto dealers, etc.). As an insurance professional, there is a unique opportunity to reach your clients on their special day with automated e-mail marketing for Birthdays. Two of the more popular email marketing service providers are MailChimp and Constant Contact which make it easy for agents to set up birthday campaigns along with the ability to “bulk blast” your book.
For welcoming new clients: After a new client has joined your agency, a best practice is to send them a series of onboarding e-mails automatically.
Here's an example of a welcoming sequence of emails for new clients:
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- Day 1: Thank you from the agency owner with link to a survey.
- Day 7: Meet the team showcasing the staff with a photo and contact information.
- Day 21: “We are a ‘full-service agency’ and can help with all of your insurance needs.”
- Day 35: “Are you a fan of our agency? Please leave us an online review at Yelp Google+, etc.”
- Day 90: “Have you had any changes in your life? Be sure to tell us (P.S. it could save you money.)”
- Day 270: The importance of an annual review.
Easy to track and measure results
A great feature of these e-mail services is that you can measure open rates. If open rates are low, tweak it and test it. Learn from the process and you will gain insight into what is effective and what isn’t for your email list.
Plus, if you were to just use e-mail for your retention touches, this could provide fantastic cost savings compared to printed options.
If an e-mail is sent to 3,000 people, and you get a 15% open rate, you just reached 450 people with that valuable information who have already done business with you. Compare that with a boosted Facebook post about flood insurance to an audience that may not even own a home!
Here is what you should do:
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- Decide which email marketing platform works best for you, just make sure there is a birthday campaign feature.
- Focus on the type of content you want to curate or create.
- Choose the frequency at which you want to connect with your email list, whether it is once a month or once a week, keep it consistent.
- Most importantly, measure results.
You are better off to perfect one, then dabble in the many different marketing initiatives available to you.
Focus on what is most important first, building your email list and creating a consistent e-mail marketing strategy. Once you conquer this, social media and other forms of marketing can be used to amplify the foundation you have set in place.
You don’t want to build a skyscraper on a six-inch slab of concrete. Just like you don’t want to try to conquer social media before having a solid e-mail marketing strategy in place. Plus, much of the content you create for e-mail, will be good for social sharing too.
Mike Demko is founder and CEO of Del Mar, Calif.-based My Insurance Videos.
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