Insurance companies potentially lose sales due to poor social media engagement

New research* from digital marketing specialists Speedie Consultants reveals that insurance brands are not providing the right kind of content on their social media channels – potentially meaning they are losing sales.

The survey, which studied how the use of social media influences customers’ insurance buying habits showed that:

• 50% of consumers use social media to research an insurance product
• Facebook is the most popular, with one in five people carrying out their insurance research using this social media platform.

When asked about the type of content that was displayed when researching a product:

• 10% saw a video
• 17% saw written content - either an article or blog post
• 13% saw an image
• 22% saw an advertisement.

While half of all consumers use a social media platform for their insurance buying research, only 22% felt it helped them with their decision. Two-thirds (67%) said it didn't help, suggesting that even though consumers are actively looking for information to help them make a purchase, the information they need is unavailable on the social media channels they visit.

Commenting on the study, Jason Hulott from Speedie Consultants says: “Insurance companies are not engaging with customers or providing them with the information required via their social media channels. Our survey said 50% of consumers use social media to research an insurance product but two-thirds said the content didn't help them make a decision.”

Mr. Hulott recommends that insurance companies provide more content in different formats that is informative and is not just sales based content: “They need to engage where their customers are, but they also need to ensure they invest in providing relevant content and information, and not just sales messages”.

Ends

*Independent study commissioned by Speedie Consultants using Usurv.com, November 2015.

Contact:

Jason Hulott, Speedie Consulting, on: 01843 831088; 07940 521056 or email: jason@speediepr.co.uk

About us:

Speedie Consultants is a digital marketing agency established in 2003 by Jason and Stella Hulott and offering over 50 years’ combined experience in the internet marketing and copywriting industries. Speedie Consultants Limited offers many solutions for businesses’ internet marketing needs including the provision of web content; article marketing; blog set up and marketing; press release syndication; affiliate programme set up and management; and consultancy.

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