We hear a lot about using social media wisely and profitably, but maximizing its value is much different from simply having a digital presence. Venus Lanzot, MetLife's senior marketing consultant for property and casualty, has a particular awareness of the benefits of a strategic approach to social media, so we asked her a few follow-up questions after her presentation at ACT's March 2018 meeting in San Diego to help you deliver positive, measurable returns on your investment in online activity.
ACT News: Many independent agents either dabble in social media or lack a strategic approach. The results are inconsistent. What would you say to help them see the value?
VENUS LANZOT: I think there are two big values when it comes to social media. First is word of mouth. Many consumers like to share positive experiences they have and are willing to promote great service. When you have a presence on social networks, they can tag your business or even link people directly to you. The other big benefit is advertising. Facebook ads provide some of the best ROI you'll get for your marketing dollars. Compared to newspaper ads, Facebook gives you the opportunity to make your dollars go further by targeting your message to specific audiences that you get to choose. That's exciting news for any business.
ACT News: How do agents know what platform, or platforms, to start with or to use for expansion of their social media presence?
VENUS: Like everything else in business, it all starts with the customer: Who are your customers, and what platforms are they using? As an example, if you were targeting 16- to 25-year-olds, you might leverage Instagram. However, if you are targeting 35- to 60-year-olds, then Facebook might be your best bet. You also want to consider how each audience uses the platform. Facebook is more casual, whereas LinkedIn is more professional. So evaluate your business goals, identify your target audience, and then select the platform that best fits.
ACT News: How does social media figure into online search rankings? And why is that so important?
VENUS: While each search engine has its own secret algorithm, we know that social media plays a role. It's my belief that social is used as a mechanism to validate that your business is still open. Think about it: so many businesses shut their doors, yet their content lives on the internet forever. The search engines need a way to validate that your business is still active. This is where social steps in. By having a presence with activity, you are sending cues to the search engine that your business is still open. Even if my theory is wrong, just search for a person or a business right now, and you'll see that social sites often come up within the results in a high-ranking position, which is important to any business.
ACT News: What sorts of content do you find effective for agents?
VENUS: By far the most effective content I have seen is that which has a human element. So personal stories, charitable giving, or pictures taken during events—these are the most effective posts.
ACT News: Social has become more of a “pay to play" model. What sort of budget should agents have for boosted posts or ads? What have you seen?
VENUS: It's an amazing time to test, as the minimums are so cheap. In some instances, you only need $5 to run an ad! I suggest starting with $20: test, learn and then make the bigger investments.
ACT News: What tracking tools have you seen used to gauge the success of campaigns?
VENUS: Each social network offers great tools to measure the success of your ad campaigns. But just like other tools, they work only if you use them. So my advice is to use the built-in tools but set up a process by which you monitor your campaigns and make adjustments so you get the most out of each campaign.
ACT News: Agents and carriers often say they're concerned about how to manage their reputation online. What advice can you share?
VENUS: First, you have to be listening. Set up Google Alerts so that anytime your name or your business's name is mentioned on the internet you'll be notified. Then develop processes for how to manage. How do you respond to reviews—both negative and positive? (Tip: deleting negative reviews is not good business.) And learn how to use content to push down articles that no longer should get top ranking on the web. There are many reputable companies out there that specialize in these services if you need to outsource.