Insurance agency tips for using TikTok to grow business
Here's how insurance businesses can integrate TikTok into their communications strategy.
Insurance leaders in 2024 know that social media plays a key role in marketing and client communications.
But are insurance professionals making use of TikTok as much as they could?
The Chinese-owned social-media platform remains under scrutiny for data privacy violations, mental health concerns and the spread of misinformation. However, it continues to engage roughly 1 billion active users a month, Forbes reports. So while the site will likely see enhanced regulation in the future, it remains ripe for marketing purposes.
Related: Potential TikTok ban may impact how insurers reach Gen Z
With that in mind, Tiktok recently teamed up with the Content Marketing Institute to host a webinar intended to educate marketing and advertising agencies about how they can best make use of the platform. The event included helpful tidbits for insurance marketers.
“Tiktok is a leading short form video platform where realness is celebrated and trends are born,” Antonio Reyes, TikTok’s strategic partnership manager, said during the presentation. “It’s a place where brands of all sizes and industries can be seen, grow their following, foster connections and achieve big results.”
Here are some topline takeaways from the recent TikTok marketing webinar:
- TikTok says marketing there is effective because the platform operates at the crossroads of entertainment and discovery.
- One in five users engage with TikTok more than any other entertainment.
- On average, engaged TikTok users spend about as much time each day on the platform as it takes to watch a feature-length film.
- TikTok audiences thrive on community-building and storytelling.
- TikTok audiences are especially responsive to “authenticity.”
- Due to TikTok’s deep user engagement, its audiences are highly likely to become customers of brands, stores or websites they find on TikTok.
- To that end, 76% of users follow brands on TikTok; 74% of users visit stores or websites they find on TikTok; 73% of users buy a product they discover on TikTok; and 70% of users download an app they learn about on TikTok, according to the 2021 TikTok Marketing Science Global Entertainment Study.
- Nine out of 10 TikTok users report having “a better perception” of businesses they learn about through TikTok, according to 2022 consumer research survey promoted by the platform.
- One in seven small and medium-sized businesses report that advertising on TikTok helped them reach new customers, according to a 2022 study conducted for the platform by Advertiser Perceptions.
Companies that are serious about integrating TikTok into their communications may want to learn more about its paid advertising opportunities, designate a liaison to attend TikTok University or pursue the platform’s new media-buying certification.