Insurance companies have long considered social media efforts in brand marketing lightweight and leveraged it for creative messaging and corporate recognition. It’s a commendable undertaking, but it’s time for insurance marketers to add another level to their social media strategies: performance marketing.
Performance Marketing focuses on social media as a conversion tool, driving lead generation and sales rather than vanity metrics alone. Instead of tracking an article’s comments or reach, marketers can, for example, track the number of readers who click on custom landing pages.
This change may be difficult for stakeholders to understand and accept at first. Large organizations may have separate marketing teams for different product lines supporting the overall brand. Within these teams, employees may have separate roles for organic and paid social media. For a successful performance marketing strategy, all teams need to share a vision and commitment to driving conversions through social media. Not every message should convert readers into leads, but it should be part of the journey to get them there.
If you are at the beginning of this culture shift to thinking about social media from a more performance-oriented perspective angle that puts conversion metrics front and center, try the following techniques to steer the conversation in the right direction.
No. 1: Prioritize the training of internal teams.
Digital marketing is constantly evolving – and changing rapidly. Marketers need to give teams the opportunity, time, and space to learn about the latest social media marketing trends, tools, and strategies. The more knowledge they have, the more comfortable they will be applying original thinking to social media in general.
An excellent resource is Facebook Master Plan, which offers free courses and certifications around Facebook marketing. Be sure to complement dedicated social media training with analytics training to ensure everyone knows how to measure the success of social media efforts. Google Analytics Academy is a great resource for mastering basic analytics and then diving into more advanced learnings from there. These courses help everyone get on the same page and better understand the breadth of possibilities available on Facebook and other social media platforms.
#2: Emphasize that everyone has a role to play.
Regardless of job title or description, everyone in your organization should be aiming for the same sales goals and understanding that brand marketing and performance marketing are necessary to achieve those goals.
Marketers should coordinate with all departments to ensure everyone understands their roles and responsibilities when it comes to both building the brand and converting sales. When creating social media marketing campaigns, marketers should also seek information from the specific departments to which the campaigns will drive traffic to determine the appropriate content, messaging, and metrics for each campaign.
Additionally, agents who also share branded content on social media need to understand how their efforts intertwine with other content to drive users down the sales funnel and closer to conversions. By including all stakeholders in the performance marketing strategy, marketers can help everyone see themselves as extensions of the sales team and focus more on driving conversions.
#3: Combine social branding with tactical messaging.
Every social media marketing campaign should be cohesive, with consistent themes, verbiage, and imagery. Also, any promises made in brand copy need to be more tactically highlighted. performance marketing contents. Essentially, the brand message sets the tone and the performance message seals the deal by delivering on the promises.
How does this work? Let’s say your insurance company has launched a social media branding campaign highlighting how easy it is to work with your company rather than your competitors. The performance marketing aspect of the campaign includes a white paper that outlines your specific value propositions and customer testimonials to back them up. You link to the whitepaper homepage from social media branding campaign posts, viewers enter their details into a form on the homepage to download the whitepaper, and your team sales team gets direct access to groomed leads. Brand marketing and performance marketing work together to drive sales.
Social media is tougher than it was just a decade ago. Platforms have changed their algorithms to make organic content less visible, and social media marketing strategies that rely solely on brand messaging and vanity metrics won’t cut it. Instead, financial marketers should use performance marketing efforts that deliver real, tangible value to drive sales.
Gregory Bailey ([email protected]) is President and CPO at social denim. He is an entrepreneur, angel investor and former business executive with over 25 years of experience in roles focused on product leadership, innovation, strategic marketing, marketing communications, profit and loss management. , cross-functional leadership, strategic planning, sales, distribution and business unit management. He is experienced in leading digital, social media and mobile experiences at the intersection of marketing and technology.
Also by Gregory Bailey: