The importance of Real-Time Marketing to Insurance Companies

The importance of real-time marketing for insurance companies

In our current economy, it’s safe to say money is currently on the minds of many Americans. Gas prices are at an all-time high, costs of living are skyrocketing and interest rates are increasing. In fact, 18% of Americans named inflation as the most important problem facing the U.S. in May, according to a recent Gallup poll. At this same time last year, that number was less than half of 1%.

With the economy snagging a large share of public, media and government attention, now is an excellent time for insurance companies to leverage their financial expertise through real-time marketing.

Real-time marketing is exactly what it says it is – reacting in “real-time.” More specifically, it is establishing processes that allow you to join ongoing conversations affecting your business, industry or customers as they are occurring. There are a lot of marketing channels that can (and should) be utilized to provide your customers with meaningful information that can help them navigate their current pain points, including:

  • Social media
  • E-blasts
  • Op-eds
  • Videos
  • Media pitches
  • Podcasts
  • Livestream events
  • And more

Here, we’ll look at the benefits real-time marketing offers insurance companies and examples of how your insurance company can insert itself into today’s trending topics.

How do insurance companies benefit from real-time marketing?

Real-time marketing prioritizes your customers or sponsors and their needs, which in turn makes them more likely to notice your content and look to you for advice.

Right now, employers around the world are facing an 8.1% average increase in employer-sponsored benefit costs over 2021, and consumers are coping with an 8.6% annual inflation rate – the highest it has been in more than 40 years. Your audience needs guidance for how to save and protect its money, and there are a lot of perks to becoming a source of answers.

Become a knowledgeable and trustworthy spring of information

According to Pew Research Center, 93% of American adults use the internet, and 85% report going online at least once per day. By regularly producing consistent, timely and relevant content, you’re increasing the chance that your target audience will stumble across it in their searches. And once they do find you, the high-quality information you’re providing helps build trust and awareness in your brand, making them more likely to become a prospect.

Consistently sharing meaningful information also helps to establish your company as a thought leader in the insurance industry. This can lead to unsolicited requests for media interviews, expert op-eds, speaking opportunities and more that can drive further awareness.

Increase customer engagement

Customers engage with content that is relevant to them. If customers find your content helpful, they’re more likely to “like,” comment or share it. This increased engagement on social platforms like LinkedIn leads to a wider audience seeing your posts, which has the potential to drive new customers your way.

Inject a sense of urgency

One of the most compelling sales tactics is to make customers feel like they need a solution “right now.” And while you’re conversating about their pain points, you can easily inject immediate steps they can take (like getting a quote from you for potential savings on home, auto, vision or other kinds of insurance) that lead them to fulfill desired actions.

Grow your target audience

Joining a broader conversation puts your voice in front of more members of your target audience, which can ultimately result in more leads. Quality content not only reaches more people – it also allows you to connect with them in a meaningful way.

Nurture existing connections

Marketing isn’t always about bringing in new leads. It’s also important to nurture your current business relationships. One way you can do this is by beginning a conversation.

Start with a question. Ask your prospects and customers for their expert opinion or other input. Many enjoy sharing opinions. You might consider questions like:

  • What are the three biggest economic concerns you have right now?
  • What is the one thing that is causing the most stress right now for you or your family?
  • What is the most recent step you’ve taken in an attempt to save money amid inflation?

Their answers will also help you optimize your content to engage the right people.

Ways insurance companies can weigh in on today’s trending topics

A plethora of financial concerns leads to a host of ways you can help alleviate the headaches of your customers and sponsors. Here are a few ideas for content you can implement today to begin your real-time insurance marketing campaign.

B2B Insurance Audiences

  • Encourage employers to help employees with wellness and commuter benefits via an e-newsletter. Highlight the benefits, such as reducing money out of pocket for things like gas and health needs. Don’t forget to remind them that healthier employees lead to less health care costs.
  • Publish a blog on how employers can identify which benefits aren’t being utilized and why they should consider dropping them.
  • Develop an explainer video on why sponsors should consider extending their health coverage with a high-deductible health plan option for younger and healthier employees. This add-on can lower premiums for both the sponsor and its employees.

B2C Insurance Audiences

  • Create an infographic to share on social media that offers tips for saving money on insurance, such as checking for discounts that customers may qualify for, bundling home and auto insurance or exploring pay-in-full payment options.
  • Host a livestream Q&A on why it’s important for consumers to educate themselves about various insurance types, especially in an inflated market.
  • Create a how-to video for negotiating medical bills.

Expand your digital marketing efforts

Successful digital marketing for insurance companies requires consistency, which takes time and regular attention. TruStar specializes in data-driven insurance marketing for health, dental, vision, auto and other coverage. We offer unique strategies that are making a big difference for our clients in today’s economic environment, such as:

  • Optimizing the way your YouTube account is set up (after all, YouTube is the second-largest search engine behind Google);
  • Increasing visibility of your Google Business Page with daily posts, FAQs and links to your social media accounts, even if you don’t have local audiences;
  • And much more.

Generate measurably more from your insurance marketing – learn more about our insurance expertise or contact us today.