LinkedIn is a powerful marketing tool for anyone who is serious about growing their business. With over 740 million members and a variety of professional groups, it has become a go-to network for millions of professionals worldwide. The question is: how to use LinkedIn to market insurance companies?
As a general rule, insurance companies can use LinkedIn as a marketing tool for brand building, showcasing their service/products, and establishing thought leadership. Moreover, a lot of insurers have also used LinkedIn for customer service, lead generation, recruitment and even improving their SEO.
In this article, I will first walk you through 12 powerful stats about LinkedIn marketing. Next, we will explore 7 ways Linkedin can do for business. Then you will learn from 3 case studies of insurance companies using LinkedIn to market their business.
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12 Powerful LinkedIn Marketing Stats You Must Know
I am sure you’ve already heard that LinkedIn is the best social platform for generating B2B leads. 55 million companies are on LinkedIn – if you want to connect to business, LinkedIn is where you want to be.
While the list goes on and on, I include here the stats that are most relatable for marketers. Here are 12 stats you must know about LinkedIn Marketing:
- 90 million LinkedIn users are senior-level influencers with four out of five decision-makers
- 80% of B2B leads come from LinkedIn vs. 13% on Twitter & 7% on Facebook.
- 33% of B2B decision makers use LinkedIn to research purchases – LinkedIn is the place decision-makers go to find valuable content. If (B2B) marketers should create content to feed this search intent, you will reap the benefits of Linkedin.
- LinkedIn is the most trusted social network in the U.S. (while Facebook ranked last)
- More than half of U.S. marketers will use LinkedIn in 2021 – The good news is, if you start marketing on Linkedin today, you are already ahead of over half of your peers.
- 40% of B2B marketers surveyed indicated LinkedIn as the most effective channel for driving high-quality leads.
- 96% of B2B content marketers use LinkedIn as one of their social platforms – This makes LinkedIn the top network for B2B content marketers, followed by Twitter and Facebook (82% each).
- 80% of B2B content marketers use LinkedIn ads – It’s not a shock that the top organic social network for B2B marketers is also the top paid social network. Facebook comes in next at 67%, followed by Twitter at 27%.
- Ad exposure on LinkedIn can increase purchase intent by 33%.
- LinkedIn live streams get 7x more reactions and 24x more comments than regular video – On average, LinkedIn video posts get more engagement than regular posts. And Live videos on Linkedin can supercharge engagement levels, especially for comments. People on Linkedin are prepared to interact with one and another.
- Companies that post weekly on LinkedIn see a 2x higher engagement rate – Share updates if you want to maintain a high engagement rate on LinkedIn. And you only need to post once a week to start.
- Companies with a complete, active LinkedIn Page see 5x more page views. They also get 7x more impressions per follower and 11x more clicks per follower. Like the LinkedIn company page statistic above, this shows the value of keeping your LinkedIn page up-to-date and active.
LinkedIn has 740 million members (v.s. 2.6 billion on Facebook). But considered most of them are top professionals in their industries and companies. If you’re looking out for ways to get quality leads and engage better with customers, LinkedIn is where you want to be.
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What LinkedIn Can Do for Your Insurance Business
Whether you have a small business or a Fortune 500 company, LinkedIn should be a crucial part of your marketing strategy. Here’s how you can use it for your insurance business.
1. Corporate brand building
If your brand is a person, what characteristics and personality does he/she entails? If your brand can educate, what will he/she teach? If your brand can talk, what will be the tone of voice?
Millennials and Gen Z, being the largest group of consumers to date, all expect authenticity in a brand. And with the stats shown above, LinkedIn is certainly one of the best platforms to engage with your existing and prospective customers.
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2. Showcase your product/services
It might sound simple and straightforward, but consumers nowadays are tired of being sold and they can smell it from miles away. There are actually many ways to be not salesy. The rule of thumb is to be helpful and present your offering as a solution that solves your prospect’s problem.
Be sure to include to-the-point and visual content with images or videos that work best across all social media.
3. Customer service
Many people having an issue or question look for a quick answer through the traditional channels like a hotline. In fact, 67% of consumers have engaged a brand’s social media for customer service needs. Done right, it can even help to show other people in your channels that your brand does take good care of your customers.
4. Lead generation
Hubspot found that LinkedIn is 277% more effective at generating leads than Facebook and Twitter. What’s more? With 90 million LinkedIn users being senior-level influencers, and four out of five decision-makers, LinkedIn could get you some of the most qualified leads you can find on all social media.
5. Build thought leadership
Linkedin can be your go-to channel for you to become a trusted source for insights into your industry. Be certain to include your blog post, research, reports, and corporate events on your Linkedin business page.
By creating and publishing great content, people recognize your company as a thought leader with authority in your industry. This will eventually build up credibility and trust for your business.
6. Improve your SEO
Google frequently crawls through LinkedIn pages as one of its most trusted resources. This means that optimizing your organization’s and your profiles can help you rank high on Google. Read this article from BrighterVision to learn more.
7. Recruitment
Your organization can post job listings and get qualified employees from LinkedIn. It is reported as the best social media site for recruitment. In fact, a study found that 122 million people received an interview through LinkedIn. And 35.5 million people have been hired by a person they connected with on the site. There’s no surprise that 3 people are hired through LinkedIn every minute.
Case Studies: Insurance Marketing Success Via LinkedIn
Here are the summaries of three case studies shared by LinkedIn Marketing Solutions in the insurance sector. Let’s learn how they have pivoted to create marketing strategies that promote their brand to the right audience via LinkedIn.
Lemonade
About
Lemonade Insurance Company is a licensed insurance carrier, offering homeowners and renters insurance, term life insurance, pet insurance and auto insurance powered by artificial intelligence and behavioral economics.
By replacing brokers and bureaucracy with bots and machine learning, Lemonade promises zero paperwork and instant everything.
And as a Certified B-Corp, where underwriting profits go to nonprofits, Lemonade is remaking insurance as a social good, rather than a necessary evil.
The challenge
Lemonade has unique selling propositions – machine learning and AI, their activity in social initiatives, and other points. But getting their message out, in an industry occupied by several entrenched global corporations, was hard. So they turned to LinkedIn.
The solution
LinkedIn is a platform where Lemonade can directly interact with their followers and share thought leadership content to engage with them – adding a human element.
The results
Lemonade has quickly grown its presence on LinkedIn by carving out a unique niche. They now have 71k+ followers.
Click to learn more about this case study.
View their Company Page.
Hiscox
About
Hiscox is a global specialist insurer, headquartered in Bermuda and listed on the London Stock Exchange. The Hiscox Group employs more than 2,300 people in 13 countries and has customers worldwide. Through retail businesses in the U.K., Europe, and the U.S., they offer a range of specialist insurance for professionals and business customers as well as homeowners.
The challenge:
Hiscox needed to boost brand awareness among an entrepreneurial audience.
The solution:
LinkedIn empowered Hiscox with the tools to deliver brand messaging to their target audience – both on and off the LinkedIn platform.
The results:
- Hiscox increased clicks to their landing page
- Outperformed industry benchmarks for engagement
- Claimed the top 3 spots on LinkedIn’s list of “Top 20 Sponsored Content” campaigns
Click to learn more about this case study.
View their Company Page
American International Group
About
AIG is a leading insurance company operating in 100 countries and jurisdictions. They serve commercial, institutional and individual customers through one of the most extensive worldwide insurance networks of any provider.
AIG companies are also leading providers of life insurance and retirement services in the United States.
The challenge
The company wanted to enhance its brand reputation by positioning itself as a resource that offers thought leadership and insights to its target audience of C-suite insurance decision-makers, risk managers, insurance brokers, and consumers interested in life and retirement insurance while educating them on its multiple offerings.
The solution
Sponsored content – AIG was the first across all industries to leverage on sponsored content on LinkedIn, using the results to further refine its content strategy as a thought leader.
Traffic is driven to the AIG website – With the already engaged audience ready to read and act on other relevant content from the brand
InMail – Enabling content to reach the right people, for laser target messaging that has supercharged an “always-on” connection.
Audience insight – Pixels were placed on AIG.com to analyze website traffic, understand audiences and identify engagement opportunities.
This results
- AIG reached the Top 20 Best Sponsored Content across LinkedIn during 2015
- 270k new followers through a measured approach targeting the right members at the right time
- 68k+ social engagements (with comments evidencing a significant increase in interaction with AIG content)
- And more
Click to learn more about this case study.
View their Company Page.
Top LinkedIn Groups for Insurance Marketers to Join
Networking is one of the most effective ways to connect and interact with like-minded people, get industry-based news, and share information that positions you as an expert in your field.
Here are 8 insurance groups you might like to join to get the connection you want:
Insurance Professionals
Number of members: 220k+
This is the largest and most active Spam-Free Insurance Group on LinkedIn. With over 220,170 members, this group is for property, casualty, life, health insurance and annuity professionals to join. You can connect with fellow underwriters, risk managers, producers, claims personnel, home office executives, and those who work in insurance.
Global Insurance Professionals
Number of members: 112k+
Founded in 2008, this group is all about life insurance, general insurance, property & casualty, health insurance, annuity, pensions, actuary, re-insurance, underwriter, policy servicing, and claims.
Insurance Journal – Property Casualty Insurance news & info
Number of members: 109k+
Insurance Journal is the world’s most trusted & trafficked P&C news website from 2010 – to 2017 (confirmed by Alexa.com). Join this group to keep up-to-date with the latest property/casualty insurance news, info, people, and events. Network and connect with other self-minded insurance industry people.
Global Insurance Network
Number of members: 87k+
Global Insurance Network is a group for professionals in insurance (life insurance, general insurance, P&C, health insurance), reinsurance, risk management, brokers, agents, bancassurance, and claims professionals. They use this group to share their experiences and knowledge.
Insurance Claims Professionals
Number of members: 68k+
This group is intended for individuals who are in the Insurance Claims profession and would like the opportunity to network with other Insurance Claims Professionals.
The Digital Insurer
Number of members: 17.5k
The Digital Insurer is a community for professionals interested in the impact of technology on insurance business models around the world and wants to work together to accelerate the digital transformation of the insurance industry.
Life & Health Insurance Sales, Marketing & Distribution
Number of members: 5.9k+
A group dedicated to the best practices in the field of Life & Health Insurance, with a specific focus on the Sales, Marketing & Distribution segment. Through this group, you can connect with executives, thought leaders, rainmakers, sales managers, account executives, marketing leaders, and others directly related to the marketing, sales, and distribution of life and health products worldwide.
Online Insurance Marketing
Number of members: 2.6k
This group supports all online marketing techniques and welcomes anyone working in the insurance industry who wants to learn more or improve their online marketing. Service providers, Insurance brokers, Insurers, or Affiliates are all welcome!
Conclusion
Like any other marketing channel, success doesn’t come overnight. LinkedIn will work well only if you take it seriously. You have to put in your time and effort. If you want to see real results, you should incorporate LinkedIn into your broader social media marketing strategy.
Join industry groups to start networking, stay up to date on the latest LinkedIn features and tools, and browse through competitor’s company pages will be your ongoing endeavor to market your insurance brand on LinkedIn.
