Insurance is one of the most lucrative and flexible fields in today’s world. This is because people now appreciate that the unexpected can happen at any time, and they would rather have something to fall back on should anything happen. However, insurance has mainly been of interest to the older generation and most insurance agents focus their marketing efforts on them.
This has begun to shift recently. Millennials now make up a significant portion of clients with considerable spending potential. It is thus prudent to step away from the norm and focus on this group for your insurance products.
Getting an insurance agency website is the first step for all independent agents aiming to reach millennials, since this age group spends over 85% of their time online, and refers ot all those born between the 1980s and mid-1990s. They are typically between the ages of 25 to 45 years, and most of them are focused on investing in homes and cars, or starting families. They therefore make some of the best clients for a range of your insurance products. The following are some surefire tactics of attracting millennials for your insurance products.
Highlight Your Discount Offers
Most millennials favor reward programs and loyalty schemes since they offer a cost-cutting measure for them. To cash in on this craze, highlight the discounts for your products on your website and online marketing platforms in strategic locations and colors that stand out from the rest of your content. Website design experts will guide you on the best colors to get clients sticking to your site and evaluating your products.
Transparency is essential when targeting millennials in your insurance marketing. Even one bad word from a disgruntled client can have people trooping to their social media platform of choice to call out your brand. Needless to say, this could herald the end of your business. You should have clear answers for everyone asking questions on your products and address the issues your clients are facing promptly. Everyone’s needs are unique and aiming for a personalized approach to your insurance marketing will prove the most effective approach for handling millennials.
Offer Standalone Renter’s Insurance
While millennials will eventually buy their own houses, they will usually rent for some time when starting out on their own. Have a standalone renter’s insurance products, unlike most agents who consider this a waste since it has low returns. The renter’s insurance will cater to clients when they are just starting out and thus assure you of loyal clients that will stand with you for the longest time.
Most agents investing in online insurance marketing assume this can take the place of human interaction. However, real human interaction will set you apart from the millions of robots online. Since most people hold a 9-5 job, be available to talk to them after office hours and during their breaks. Flexibility with your work hours to fit your clients’ schedule is essential for human interaction.
You will not reach millennials with the same tactics used for years to reach the now-older population. You also can no longer afford to ignore the millennials in your insurance products. The above tactics, along with an expert in online insurance marketing, will assure you of profits in the current highly competitive insurance market.