David & Goliath in the Insurance Industry
SocialSurvey’s Caleb Stanton illustrates how the insurance industry’s playing field is leveled—even disproportionately favored—by those who win locally. (Hint: this isn’t just for the insurance industry).
Watch the above video and/or read the full transcript below.
Imagine for a moment that I’m the prospect searching for insurance. There are a GIANT number of agencies to choose from; and they are flung far and wide across the landscape of the Internet.
How could I possibly find a regional agency or an even smaller local brand – in the midst of every other option out there?
But here’s the thing—the Internet, at its best, is egalitarian in nature. Internet titans like Google and Yelp want me, the prospect, to find the best insurance agent – not just the one with a well-known logo painted on the door. In other words, smaller agencies don’t need to dominate out there – they don’t need national brand recognition to win online. They simply need to dominate right… here, locally – where their producers – and their prospects – live and work and do business.
This is why Google My Business, Yelp and Facebook Local rate and rank agencies at the individual local office level. And while the local office of a P&C giant may be one of a thousand spread across the country, that doesn’t really matter. If the Internet can see that David’s insurance company is a better option than the local Goliath office… David is going to win.
So where do you start? In a word, reviews. 88% of consumers say that online reviews influence their buying decisions, and positive Google reviews are a direct component of the algorithm for Google My Business search rankings. But that’s just the start.
Click the link below to learn the 5 things every insurance agency – large and small – must do to win the local online marketing war.
Link to whitepaper here.