By Seth Kravitz
AnnuityNews.com
March 7, 2011 -- How much time and energy should the annuity agent invest in Facebook and Twitter?
Consumer participation on both continues to grow, encouraging annuity agents to take the plunge and even expand their involvement. However, agents must understand how these channels can provide a strategic edge so they can use their time most effectively.
ExactTarget, an interactive marketing firm, recently released the results of its “Social Break-Up” study. The report, based on focus groups and online surveys, analyzes how users develop relationships with businesses on Facebook and Twitter.
InsuranceAgents.com reviewed these general findings from the perspective of the annuity agent, resulting in actionable insights:
Social networking (that is, networking online via Facebook and Twitter) are about relationship building, and annuity agents have a natural edge here.
Agents have always strived to develop relationships with their clients. They develop long-term conversations to improve service and generate multiple sales as client needs change over time. Therefore, finding ways to use these channels strategically comes quite naturally to many agents.
Consumers recognize that Facebook is a marketing medium as well as a personal social medium and many are open to relationships with businesses.
Sixty-four percent of Facebook users have “liked” a company, meaning that they have clicked on a button to indicate that they are fans of that company. Clearly, consumers are open to pursuing Facebook relationships with business entities.
Consumer attitudes toward liking companies on Facebook change over time.
These relationships cannot be taken for granted. About 70 percent of users have become more selective over time in “liking” companies. More than half have decided they no longer want to see posts from a company they had “liked.”
Consumers expect quality in the Facebook messages they receive from businesses.
The most common reason they “unlike” a brand is that the company posts too often. Also, some initially sign up for a gift or online report of value but do not want to maintain the relationship.
So, annuity agents must continue to offer value to “like” followers, rather than being complacent toward those they have captured.
So, only post messages of value while noting there are different types of value. A post may provide a gift or serious information related to annuities, or it may foster a personal relationship with “likers.”
Social marketers (that’s you!) must recognize that Twitter users are fickle, which again, calls for consistent quality.
More than 40 percent of Twitter users have changed their minds and quit following a company, and 47 percent of those who start on Twitter eventually stop participation.
Facebook and Twitter work well together. If you are doing Facebook, you may as well give Twitter a try.
Facebook is rich in features and complexity, but Twitter is a breeze. Since Twitter posts are limited to 140 characters including spaces and retweeting (forwarding) other people’s comments is desirable, you or your staff can start out easily. Begin by posting links to your content on Facebook, website, blog or other online presence and develop synergy among your Internet efforts.
A large share of the U.S. population takes part in Facebook and Twitter. New data on how they participate suggest ways for annuity agents to benefit from participation.
Seth Kravitz is CEO of InsuranceAgents.com and Cyber Technology, LLC. InsuranceAgents.com was ranked the 24th fastest-growing company in the U.S. by Inc Magazine in 2009. It serves thousands of agents nationwide.
