The first Tweet was only sent in March 2006. Whatever you think of Twitter and the value as a business tool, you can’t dispute the impact it’s had. Twitter has grown phenomenally. Here’s some facts from Twitter.com:
• 230+ million monthly active users
• 500 million Tweets are posted per day
• 76% of Twitter active users are on mobile
Pretty impressive for such a basic concept; users send and read text messages limited to 140 characters. Simple, but yet it’s had such a big impact on our society and culture. These days, when news breaks, it seems like we hear it first on Twitter; just think of the Boston bombings where news, pictures and videos from spectators broke faster than the news stations could get hold of information. From XFactor to Question Time, you can share your opinions with the world.
The insurance industry, although predictably late to the party, have started to participate. Using the BIBA conference as a usage benchmark you can plot progress.
• #biba2013 generated 85 tweets
• #biba2012 generated 47 tweets
• #biba2011 generated 44 tweets
• #biba2010 generated 24 tweets
OK whilst an increase in Tweets, it is hardly earth shattering – perhaps unsurprisingly when the typical BIBA attendee profile is a 45 year old bloke, in a dark suit, with a tight waistline.
So what does all this mean for insurance brokers? Used correctly, Twitter is a fantastic way of staying in touch with your clients and expanding your reach to potential new customers.
The insurance industry has the opportunity to be part of the story too. For example, Twitter became the most reliable source of news surrounding the recent UK storms with users sharing useful information on worst hit areas and places to avoid. Imagine the valuable advice we could impart on a willing audience.
Many brokers now have a Twitter accounts – we took a sample to see how it’s being used. The average broker account looks like this:
• Active for 2.5 years.
• 442 followers (growing by 2.9% each month)
• 5.3 tweets per week.
But delve a bit deeper and it becomes apparent that there’s a gulf between those that are truly embracing Twitter and those that merely have a presence.
Some brokers are regularly posting over 15 Tweets per week, while others have sent less 10 in total. There are brokers, and not just the big players, with over 1,500 followers. We’ve witnessed monthly increases of followers by as much as 44.8% in a single month where the brokers has clearly been putting some effort put into growing their accounts.
Looking for inspiration? @simplybusiness (12,579 Tweets, 28,727 Followers, plus they are following 1,553)
• Tweet! – but remember ‘content’ is definitely king
The more active you are on Twitter, the more likely you are to have others find you and then want to follow you. Remember you are publishing, so the UK law applies (defamation, libel, advertising rules etc)
• Promote your account
It seems obvious, but promote your Twitter account on all your marketing material from website to company brochure, and don’t forget your emails too.
• Engage with others
Twitter is a conversation, not a monologue. So don’t just tell people what you’re doing. Respond to Tweets, ask questions. The more you participate the faster your followers will grow.
• Give them a reason to follow you
Forget the blow-by-blow account of your daily lives, if you provide valuable and interesting content that enhances people’s lives your follower numbers will grow naturally. Post links to helpful articles or leave bits of advice and information.
• Educate, entertain, inform but never hard sell.
Think about what the audience wants, not what’s in it for you.
The word cloud below shows the most common words used in the profiles of followers from a random sample of brokers.
The keywords that stand out from this list are “insurance”, “brokers, “broker”, and “risk”. What does this tell us? Well most insurance broker’s followers are from within the insurance industry: Insurers following brokers, Brokers follow Brokers, the trade press follows everyone. Hardly increasing the reach to a new audience.
The acid test = How many re-tweets?, what subjects/who to?.
Growing followers intelligently
As with all forms of successful marketing communications, Twitter should be used to engage with your specific target market, be it a particular trade or geography.
Tools such as www.followerwonk.com, www.tweepz.com and www.socialbro.com enable you to search Twitter profiles by geography or keywords. So if you wanted to find a widget manufactures in Winchester or powerboat enthusiasts in Pitlochry you can do.
But the key to growing your account is engaging with your target audience and giving them something interesting to read.
If you have been affected by any of the issues raised and would like some no cost impartial, practical advice – remember AXA has Ignition NBS, a 100% owned subsidiary specialising in marketing services for Brokers. Ask your AXA relationship manager about arranging a call. Now that’s soft selling…
We would be pleased to talk through the options with you, give us a call on 0161 831 7199.