Social media has drastically changed the insurance industry. As of this month, one particular platform (Reddit) ranks as the 7th most-popular website in the United States.
After the recent stock market news, Landon McCarter answered two interesting questions:
- Should insurance agents use Reddit to generate leads for Medicare, final expense, or other types of insurance?
- What’s the importance of using a platform like Reddit to stay current and at the cutting edge of the industry?
What Is Reddit?
Reddit is a gigantic forum where millions of people go to engage with a particular “Subreddit” that interests them. There’s a Subreddit for everything you can imagine. The conversation is endless.
Reddit is referred to as the front page of the internet because it takes ALL the subreddits and compiles all the top posts based on positive interaction. So, it’s one of the most real-time places to get information.
A Major Disrupter
Let’s talk about what’s going on now with the shorting of stocks. Why is it happening? First, you should understand that — in the digital age — people are realizing the power of social media. Reddit is the most recent example.
A Reddit forum of Wall Street bets can influence a market so quickly that billionaire hedge fund managers are being completely disrupted by a social media platform gathering the little guys together.
These Reddit guys came in, saw that the stock was shorted, and banded together. They were able to disrupt the entire market so much that even the White House got involved.
Welcome to the New Age
The average insurance agent is 59 and ½. The ones we partner with are typically on the younger side but we work with all spectrums. The point is that you need to understand how powerful social media is or you’ll get left behind. Consider the following:
- Facebook wasn’t even a paid platform in 2012.
- If you go back to 2006, nobody was talking about digital marketing to get insurance.
- Now, it has become a mainstream!
This is not to say that traditional media is dying or dead. However, this is the turning point for the insurance industry. This is the new age. Digital marketing is the way you generate leads and get things moving.
These days, everyone is trying to find their marketer and figure out who they’re going to bring in house or you have big groups that are buying a digital agency to try and understand it and acquire the talent to succeed.
The whole Reddit situation proves that the market is being extremely disrupted by these people that are understanding the platforms and leveraging them accordingly.
The more you can get ahead of the curve, the better off you’ll be — because digital marketing changes rapidly. For example, there’s a new ad type out right now with interesting implications. The ad type allows us to create an audience and send them a direct message on their FB messenger at a cost per thousand price that’s a somewhat new program.
Are you willing to try new things like this on social media? The phrase we like to use here is finding the honey holes. You want to invest in different plans so that one thing doesn’t become overcrowded, and this will let you reap the full benefits of your investment!
What Else Can We Learn from Reddit?
Insurance agents should not advertise on Reddit. However, you should get on board with other social media platforms to stay ahead of the curve. Here’s what we recommend:
- Have an allocated budget
- Be willing to spend money to test the market
- Find trustworthy people to guide you
Let Secure Agent Marketing be your trusted partner. We’ve found the niche and explore it so well that we have 50 employees in Springfield, Missouri.
All we do is insurance digital marketing to generate leads. If you need help navigating these uncertain waters, reach out to us today. We’d love to talk about your goals and share our best strategies to help you achieve them.