- Where Insurance & Technology Meet

Social Marketing Reaching Saturation; Insurance Leaders Differentiate Through Content

Two recent reports show some import trends in the use of social media for marketing generally and within the insurance community specifically.  The short summary:  Social Media are recognized components within the mix of marketing activities.  Question:  Have you established your desired position in the new mix?

Use of social media for marketing seems to be reaching within the business market.  eMarketer reports that “Nearly nine in 10 US companies with at least 100 employees will use social networks for marketing activities this year.”

Not surprisingly, the eMarketer reports that Facebook remains the most popular vehicle.  However, Twitter is gaining in terms of the number of companies using the media for marketing.  A virtual tie is expected by 2015.

A second report, by Corporate Insight,  focuses on the insurance industry and finds that penetration  looks similar to enterprises in the larger market.  The report goes further in noting that several insurers rise above the pack. As reported in Insurance Networking News “three insurers stood out on the most popular platform, Facebook, in Corporate Insight’s latest report: State Farm Nation, Flo the Progressive Girl and Allstate Mayhem.”  (Note: We recently posted on how State Farm is providing an interesting twist by  complementing its Social Media Strategy with bricks, mortar, and caffeine.)

The penetration of different media for insurers is similar to the population as a whole.  Facebook has held the lead in the past, but Twitter is gaining rapidly.  Justin Stephani, author of the INN article,  writes: “Twitter has surpassed Facebook in terms of the number of firms with a presence and the number of pages per firm, Facebook remains the most popular among insurers.”

INN’s analysis suggests that success in the social media comes from a light touch.  Stephani writes: “success is found when firms provide information that the viewing audience wants, rather than strictly relaying the information your firm wants to share.”

It seems that within the business community generally, and the insurance industry specifically, use of social media is now a recognized component of marketing.  Differences are now coming from the use of the media to add value for customers.

So, how do you feel your company is doing?  Have you hit maturity with social media?  Are you just embarking?  What have your experiences been?

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