20 Reasons to Grow Online Relationships

20 Reasons Why You Must Get Better at Building and Growing Relationships Online…Starting Now

Opportunities

1. Your prospects are online. The top 3 places insurance buyers are looking for information before they purchase: agency websites, online reviews and asking friends.

2. Trust in agents is high—right now. It’s time to maximize all that good will by extending all the great things you do online. Consumers rate agents a 4 out of 5 on how much they trust them to provide fair and objective advice and services.

3. You can find more business online. 62% of consumers who buy from direct writers say they use the internet to find insurance. You need to be online to win their business.

4. You can convert buyers. More than a third of consumers who buy from direct writers today would consider buying from agents. Another 37% said they’re not sure. To be in the game, you’ll want to be online.

5. Buyers are more informed. Share your happy customer stories. A majority of consumers—61%-said they read online reviews before making a purchase.

6. Buyers want more information. Give it to them. Consumers who buy from direct writers today want the ability to get clear pricing and coverage information online.

7. Let your commercial lines customers help spread the word. A third of small business buyers say customer testimonials can help increase their trust in agents.

8. Broaden your customer base. Nearly half of agencies surveyed are planning to expand their audience in the next 5 years. Digital gives you greater reach to new markets quickly.

9. Differentiate your agency. Offline, agents compete against direct writers by differentiating with service, relationships and advice. Those same strengths can be delivered and developed online.

10. Everything is integrated. Consumers and small businesses are evenly divided about how they look for insurance online. Today, a digital strategy that includes your website, social media and online reviews is just table stakes.

Risks

1. Your website needs to be better than good enough. It’s the first stop for many insurance buyers—38% of business owners say agents could increase trust by improving their sites, yet just half of agencies say theirs are good or excellent.

2. Trust in direct writers is high—right now. Consumers who buy from direct writers trust them, rating them a 4 out of 5 on how much they trust them to provide fair and objective advice and services.

3. It’s important to read between the lines. Consumer and small business buyers may not be telling you directly what they want online, but their actions can give your agency a lot of insight. Wait for them to tell you and it may be too late.

4. You can’t rely on your own marketing. This is especially true with younger buyers. 76% of millennial consumers say content shared by average people is more trustworthy than what brands share.

5. It’s time to rethink the definition of local. Your presence in the community needs to go beyond the physical—86% of consumers have relied on the internet to find a local business.

6. Once a year is not enough. Communication that is. Insurance buyers—especially younger buyers—are looking to hear from their agents more frequently. 38% of consumers want to hear from their agents at least quarterly.

7. Don’t risk losing customers for better digital. 39% of consumers said they’d switch providers for better online service.

8. You can’t ignore those reviews and recommendations. 92% of people say they trust the recommendations of other people more than branded content, even the ones they don’t know.

9. Don’t underestimate the importance of your website. Especially to those who don’t know you. 50% of consumers who buy from direct writers today say that if they were to buy from an agent, a good website is critical.

10. Trust is a deal-breaker. It’s a pre-requisite for any sort of relationship building. For customers to be open to engaging with you, they need to be confident that you have their best interests in mind for the long haul.