Interacting with Millennial Insurance Buyers
The Millennials are here. The Millennial generation is a cohort of people who were born in the early 1980s to the early 2000s. This generation of teens to those in their early 30s are buying and renting homes, having children, and making large purchases, all of which require insurance. This generation is your up-and-coming audience, and surprisingly, Pew Research states that it's now the largest generation, bigger even than the Baby Boomers. How should you adjust your insurance marketing and customer service focus to meet the needs of the Millennials?
Shake Up Your Marketing Efforts
Traditional in-your-face advertising efforts just don't work well with the Millennial generation. In fact, according to EyeQ, "only one percent of Millennials are influenced by traditional advertising." What's an insurance marketer to do? You need to meet their expectations for engagement and personal service.
Millennials live and breathe the internet. They have grown up with it and have been engaged with it from an early age. For this generation, the web is a way to be social and personal with their friends and relatives, but it's also a way to learn more and connect more strongly with the brands that they love. To connect with the Millennial audience, you must have a web presence and, preferably, have the ability to connect through social media as well. A blog post that responds to your customers' questions, or a reply on Facebook, will give this audience the connection and personal attention that they want to see from a brand.
Be a Real Contributor to Your Community
In the Internet Age, it might seem odd that one of the deepest values for Millennials is community-building, but the Millennial generation responds to socially, environmentally, and community-conscious products and actions. If you're using your social media page to promote a crowdfunding initiative for a local family, this generation will see you as more real and more connected. Be real, and really support others through your products or corporate initiatives.
Understand Their Needs
Millennial insurance buyers may be new to the insurance field. Help buyers who are renting their first apartment or finding insurance for their first car understand the ins and outs. Give them the information that they need to make price-conscious, well-informed, insurance decisions. Ask questions about their specific needs and concerns, address these in person, through social media posts, and with informative blogs that set you up as a reassuring and trusted resource in the field.
Give Them the Reins
The ubiquitous smartphone has given customers of all ages the ability to share information with friends and give their opinion in real time. Invite your customers to participate in your business, whether it's by crowdsourcing ideas regarding their insurance needs or by submitting reviews and promoting your business through online word-of-mouth.
Whether you're working to meet the needs of a new generation of customers, seek out opportunities to improve your knowledge, service, and insurance marketing through networking and continuing education. The American Agents Alliance is a group of insurance professionals that is dedicated to supporting other professionals. Contact us today and learn more about the many membership benefits we can provide.