The recent news that LinkedIn was purchased by Microsoft has the majority of the business community talking. But chances are, this will go largely unnoticed by the broker community, since nearly one-third of brokers do not use the platform. In a single-state analysis we conducted with nearly 600 active insurance brokers, we found that a lack of broker LinkedIn profiles isn't the only shocking metric. Just 33 percent of brokers in the analysis had a Twitter account, while almost 20 percent lacked a company website altogether.
An established online and social media presence works to not only promote a business' brand, services, and products, but also works to engage clients and expand outreach. However, there are a few crucial reasons these metrics should shock anyone in the broker industry:
It's an expectation
Social media outlets, like Twitter, have now been accessible to the global community for a decade. They've lasted longer than almost 67 percent of all small businesses that have started in America under sole ownership. The internet has broken barriers to communication, resource accessibility, and information transparency, and continues to grow and innovate at a seemingly exponential rate. For most, this is old news: The status quo that has been decades in the making.
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Your buyers can't find you
The World Wide Web was invented over 26 years ago. That's older than the majority of the millennial generation. This is the generation that not only makes up the majority of our population, but also the majority of our workforce. If these are the individuals and business owners that brokers intend to insure, they aren't communicating with them. In order for brokers to successfully communicate and engage their clients, they need to meet them where they are: online. An online presence allows a broker business to not only remain relevant, but also remain competitive and capture new business opportunities.
You'll sell more, faster
Developing an online presence on social media and through a personalized storefront means that brokers are able to not only modernize their business, but also accomplish more with less effort. Mobilizing a broker business online allows a broker to provide anytime, anywhere access to their products, simplifying the process. And a simplification of the process is exactly what insurance consumers are looking for. Today more than ever before, consumers are expecting simplicity and transparency. If brokers learn to successfully provide that experience, they will sell more, faster.
The digitalization of businesses has innovated and grown rapidly due to the intense demand for simplification and access, so why shouldn't the world of insurance be the same? We believe making insurance decisions should be easy, and that great technology and design can drive the improvements needed to make that possible. And it can start with the click of a button.
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