Digitally Savvy Insurance Brokers grow faster
Andy Jamieson
Founder @Advisr | Commercial Insurance Marketplace & @AdvisrME | SaaS Agent Marketing Platform
Recent reports out of the US showcase that insurance agents that are engaged with customers via digital channels and who utilise digital opportunities grow faster. Read the complete report from Safeco / Liberty Mutual here.
As Aussies, we can learn from the trends in the US and adapt them to our local market and experience.
Quickfire stats:
- More than half of all agents are prioritizing digital marketing.
- 81% of high adopters and 48% of low adopters plan to dramatically or somewhat increase their digital marketing efforts.
- High digital adopters enjoy higher revenue growth
Fundamentals: The baseline that insurance agents need to succeed:
1: Social Media
2: Online quotations
Yes, both of these areas take time to develop, cultivate and build. They require time, energy and input.
As with most opportunities, you may need to increase your skillset or knowledge to make them work in your business. If you need assistance around understanding digital for insurance brokers and ARs, reach out and connect. Or alternatively, see all our free educational content from webinars we've run for YIPs, ANZIIF and more on the Advisr YouTube
Social Media and Online quotes are what agents in the US are being encourage to see as the entry point, the start line, the beginning for their digital journey. So it feels like we're going ok in Australia. Lots of Australian insurance brokerages, brokers and ARs are engaging with social media channels and are active on platforms like Advisr. I wonder though, if we could be doing more? Shifting our approach from broadcasting to really engaging customers. From advertising messages to educational content. From interupting potential customers online to providing solutions to their problems when they are looking for them.
High digital adopters enjoy higher revenue growth
Do you want to grow your insurance brokerage in 2021? Then do more in digital.
The data shows that insurance agents who are high digital adopters are growing the revenue into their businesses at a faster rate.
Put simply, doing more in digital is a surefire way to drive the growth of your insurance brokerage.
What steps can I take to start in digital?
Get yourself on Advisr
If you're not yet on Advisr, then adding yourself and your brokerage is good first step. Advisr profiles are quick and easy to establish and enable customers to find and connect with you. An Advisr profile helps you dominate in Google when a potential customer is trying to track you down.
Over 65,000 people came to Advisr in 2020 and we generated over 10,000 lead events into brokers.
Create Educational Content
Customers love learning and understand more about problems they are facing. Providing insights and educational content is a good way to build trust, showcase expertise and find the customers that match your experience. Over 600+ articles have been posted on Advisr by insurance brokers, generating hundreds of thousands of views from customers. These highly targeted content can enable you to stand out in a crowded marketplace.
SO what are you going to do?
It's easy to hear some good insights and feel motivated in the moment. But real change takes a commitment and dedication. Often I think about the one thing I might do and how can I committ to it for a certain period of time to see how it works, understand how I feel about it and to allow me the time require to develop my skills.
Let me encourage you to post in the comments below, what the one thing you might do in 2021 to help your business embrace the digital opportunities that are available to you.
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