What Impacts Do Social Analytics Have on Business?

Across industries, social media has transformed modern sales practices. The reach and power of insurance social media marketing allows insurance businesses to identify leads and to capitalize on those leads. The data generated in social media activity is the key to unlocking opportunities; by analyzing this data, insurance marketers have the ability to optimize sales funnels. In this guide, we will explore insurance social media marketing and social analytics so you can get the most out of your marketing efforts.

The Power of Insurance Social Media Marketing

When insurance businesses leverage social media as a marketing channel, important benefits arise. Businesses that have robust online presences on platforms like Facebook, Twitter, LinkedIn, and YouTube experience better lead generation and a significant increase in sales. In fact, in several studies conducted by researchers at Google and Salesforce indicated:

  • Between 81% and 89% of all shoppers (B2B and consumers) use the web to identify companies with which to do business with.
  • Companies that use social media have a 57% greater return on investment (ROI) than those which shun Facebook and its competitors in the social space.
  • Insurance sales professionals are 79% more likely to reach their sales goals by using social media marketing. Those who do not only reach their sales goals less than 40% of the time.

Adding a robust social media presence to sales and marketing efforts works to both attract new clients and boost sales figures. Social media continues to be a dominant force in the online marketing toolbox, and this trend will only grow in the coming years.

Social Media Data: What is it and How is it Collected?

Activity on social media channels generates information. This is referred to as social media data. Data sets include:

  • Likes
  • Shares
  • Reposts
  • Comments
  • Mentions
  • Clicks to outside resources
  • Conversions

Followers on your social media channels also present reams of data to analyze. With social media analytics, you have the ability to reveal demographic information about those who follow your channels, their preferences, and their physical location. Each of these data points can influence insurance social media marketing strategies and give you clues about what your followers engage with. Best of all, the data reveals which platform produces the best results; for your agency, Facebook may be the dominant social media force, helping you to focus your efforts on beefing up your presence on that platform or encouraging you to branch out onto other platforms.

To analyze this data, many social media platforms offer built-in tools. There are also dozens of third-party analytics tools available. These tools streamline the data collection and consolidation process. Marketers can quickly identify features that are producing the desired sales/conversion results as well as those that need improvement.

Optimizing the Sales Funnel

Social media analytics tells insurance agencies a lot about what their customers are looking for and how they interact with posts. These are clues that can be leveraged into producing more efficient sales funnels – boosting quality lead generation and conversions at the same time. Three key areas stand out in terms of optimizing the sales funnel:

  1. Honing your social media message.
  2. Personalizing sales outreach.
  3. Creating content that engages and enriches.

Every post you share on social media is your agency’s message. Perfecting this message is crucial to establishing sales success. Digital marketers spend a lot of time honing this message by creating titles, content, and graphical elements that fit a specific “brand”. Your message should be uniform across platforms, helping to present a polished, professional image to the followers on your insurance social media marketing channels.

No one likes an impersonal sales pitch. On social media, being able to personalize sales outreaches is one of the platform’s best attributes. Social media gives companies the ability to make direct and personal connections with followers. By embracing this attribute, insurance sales teams can tailor outreach to specific audience segments or to individual leads. Social media analytics reveals the clues needed to create engagement; how you address those clues can position your agency for impressive sales growth.

When people turn to the web for information about a company and its products or services, one of the first places they look for this information is on social media. Having content that informs and engages is critical. With social media analytics, digital marketers have the details they need to create powerful content that:

  • Answers common questions.
  • Highlights specific products or services and their features.
  • Gives the information needed to make purchasing decisions.
  • Meets user preferences in terms of the type of content that resonates, whether that is text, infographics, or video clips.

Insurance social media marketing has the power to take your insurance business to the next level. If your agency is not using social media or fails to analyze the data available to you through these platforms, you may be missing significant opportunities. Embracing social media and its data allows you to get a better return on investment as your sales figures grow exponentially.

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Since 1988, Neilson Marketing Services has been implementing innovative marketing solutions and strategies for our clients in all areas of marketing. Contact us today at (866) 816-1849 to put our talent, expertise, and vast resources to work for you. Let’s make things happen, together!

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