It’s 2013 and that means that if your company isn’t online you are completely missing the boat.
You may think that when we say that your company needs to be online we mean that you need to have a good website. In today’s world however, just having a website won’t cut it. Because there are so many insurance agencies out there, you need to do some things to distinguish yourself so that when people search on Google, they will find you.
The language of the internet and particular of online marketing can be kind of tricky. When you decide to pursue online marketing for your agency, we want you to be able to understand what is going on. The following are some of the most common online market strategies.
SEO/SEM- Search Engine Optimization/Search Engine Marketing. This is getting your agency’s website to rank higher on Google. When someone searches for insurance agencies in your area, you want your website to be one of the first ones to show up. If it is, more people will visit your site, which means more people will call in, which means more policies will be written. You get the picture.
SMO- Social Media Optimization. Everybody is using social media today. If Google is the first place people go to when looking for your company, Facebook is the second. Businesses are very active on Facebook, Twitter, LinkedIn, and Google Plus, and these social media sites are perfect for Insurance Agents. Social Media allows you to connect with people that you normally wouldn’t be able to and it allows you to let people know what your brand is all about. The more you share on social media, the higher you will rank on Google as well.
CPM- Cost Per Thousand Impressions. CPM is used in online advertising and defines the cost an advertiser pays for 1,000 impressions of an ad, or for every 1,000 people that see that ad online.
CPC-Cost Per Click. Also Known as PPC (Pay Per Click) Advertising. These are keyword based advertisements that require you to pay per click on your ad. Often online advertisements offer their ads on either a CPM or CPC payment platform.
ROI- Return on Investment. This is taking your additional costs for your investment and comparing it to your increase in revenue. When your additional revenue surpasses your additional costs, you have a positive ROI and your new investment was most likely worth while. With online marketing it is important to analyze your investment costs and compare it to your increased business. Online marketing is a long term strategy, especially for insurance agents, which you should also keep in mind when figuring out your ROI.
Hopefully you are a little more informed about common online marketing terms. Feel free to quiz your account manager with any further questions you may have!