Whether it’s the enormous bill you get from the hospital, or your phone that gets stolen while you’re on a holiday: pretty much everyone will end up claiming something from their insurance company. The fact that everyone has an insurance, however, makes it a pretty competitive market as well.
Remember last December? Before the end of the year insurance companies start enormous campaigns driving people to switch between health insurances. Even though these campaigns mostly find their way through traditional channels, we see some companies taking the new route: influencer marketing.
Influencer Marketing for Insurance Companies
This isn’t strange – perhaps it has taken a long time before insurance companies have taken on the power of influencer marketing. A lot of people assume influencer marketing is only applicable for products that are tangible, and not for services. Evidently, research states that 71% of consumers are more likely to make a purchase based on a social media reference. This goes for consumer goods – obviously. Connections to retail, fashion and e-commerce are obvious.
Now imagine the difference between deciding which shoes to wear, or deciding what kind of coverage you need in the hospital next year. Insurance decisions are extremely important decisions, in general as well as financially. People obviously do their research, and often end up on social media.
Decision Making Through Influencers
Therefore, customers’ opinions on available insurances are influenced. Influencer marketing, however, covers a social aspect that is very important for insurance companies. For complex decisions, like choosing an insurance package, people often turn to other people. Thought leaders within communities that have knowledge or experience in the field can help other people make their decision. This peer-to-peer influence transforms especially well with influencer marketing. Educate your influencer on the decision they have to make, and help them help their followers.
Lastly, and perhaps most concrete, influencer marketing is applicable for all possible insurances. Whether it’s something general, like health insurance, or something more specific like travel insurance or insurance for your pet: there’s an influencer for every niche. Therefore, insurance companies could start market-wide campaigns focusing on awareness and direct conversions.
Worried that finding the right influencer will become a hassle? No worries! Our platform is a perfect fit for finding influencers in different markets and managing your campaign. Request a demo of our services below and we’ll gladly show you how it works!