The Short- and Long-Term Potential of Facebook Marketing
Facebook marketing is performing well for many agents throughout the country in terms of generating leads. You may be wondering if this trend is a flash in the pan or if Facebook has the potential for being an ongoing branch of your marketing efforts. In today’s article, we discuss how the Facebook social media platform can be used by independent agents as a viable source for both immediate gains and long-term dividends.
Social Media is Surging. People are paying more attention to the marketing communications they receive because they’re spending more time indoors for obvious reasons. Case in point: Baby Boomers are spending 37% more time on social media compared to usage before the pandemic. Perhaps more significantly, engagement on social media platforms has increased 61% compared to pre-pandemic levels. In short, your target market is spending more time on social media and engaging more with the content they see there. There has never been a better time for prospecting on social media.
Why Facebook? We recommend Facebook as the primary social media platform for prospecting for a couple reasons. The first reason is because it’s the platform with the largest audience. Individuals aged 65 and older have been the fastest growing demographic on Facebook for several years and Pew Research just confirmed this month that 50% of Medicare eligibles use Facebook. So, literally half of your target market can be reached whereas the next closest platform, Instagram, has only 13% market share. Secondly, marketing on Facebook is cost effective. Agents can conduct ad campaigns on Facebook for a minimum of $5 a day and the platform’s targeting capabilities are beyond impressive; you can narrowly define your target market across various criteria to help ensure your post or ad is only being displayed to those eyeballs you want viewing your content.
Short-term vs. Long-Term Results. So far we’ve established that half your target market is on Facebook and that they’re paying attention to the content they see there. But you may be wondering if the resources it takes to start and maintain an engaging Facebook business page is going to be worth it after the world returns to normal. Consider that Facebook marketing also plays into the Retention and Referral arms of your marketing mix. When your account’s notification settings are tuned correctly, you’ll receive alerts for important client life events like birthdays and anniversaries; sending an Instant Message to clients on such occasions creates more touch points throughout the year which helps with retention. Similarly, the clients who follow you on Facebook can easily recommend you through the platform which produces valuable referrals for your business. Considering that Facebook’s 65+ audience is only growing in size, there’s likely enough staying power to warrant using the social media monolith to prospect for years to come.
To conclude, we always advocate incorporating a healthy marketing mix that utilizes various forms of traditional marketing, digital marketing, networking and a robust referral program. Facebook is presenting itself as a viable avenue for digital marketing in order to produce leads, increase retention and generate referrals. With a better understanding of why Facebook can be so effective, you may be wondering how to make the most of this dynamic medium. Give our Marketing Department a call today at 888-745-2320! We have the resources, guidance and stand-out content to help you maximize your efforts!
As a National Marketing Organization that works with thousands of independent agents, we understand you must generate leads and retain clients in order to grow your business. That’s why we work diligently to provide the resources necessary for successful marketing. If this information is valuable and you want to know more about the services we provide our Medicare agent partners, please contact us at firstname.lastname@example.org or 888-745-2320.