Why Ethics Matter to Millennials

Why Ethics Matter to Millennials

As an insurance provider, you need to be scrupulously ethical in your interactions with your clients. For Millennials, in particular, your reputation and your community involvement matter very much. How can you understand this Millennial audience and use your insurance marketing to make your business ethics more visible? 

Ethics Matter to Millennials 

According to Deloitte

"Millennials feel that most businesses have no ambition beyond profit, and there are distinct differences in what they believe the purpose of business should be and what they perceive it to currently be." 

They tend to choose businesses for their ethics as well as their products, and they put consumer pressure on companies to strengthen their corporate social responsibility and create socially and environmentally sustainable products. With Millennials providing about a third of retail sales by 2020, according to NPR, all businesses need to think about how to interact with this group.

Millennials Turn to Peers for Buying Cues 

In the era of social media, you no longer have complete control over your insurance marketing message. Of course, you can post content and interact on social media. However, your clients will talk, and they will talk about you online, posting about your employee interactions, your responsiveness to clients, and your community reputation. Millennials look to these cues to decide where they will buy. According to NPR, for Millennials, "peers are a trusted source; the official company flack is not."

Millennials Want Engagement 

Millennials don't just want you to be ethical: they want you to be authentic in your engagement as well. You're not just completing an insurance marketing "to do" list when you're interacting online. You're involved in an important conversation that's building your brand. Millennials expect you to listen to their opinions and respond to them. 

Be Conscious of Your Corporate Values 

Millennials are watching to see how you live out your ethical commitments in real life. You can't just talk about how you're committed to your community. You need to have an actual commitment to corporate social responsibility. This means that you're visibly supporting community activities and that you're scrupulous in your actions in real life and vigilant online. As an insurance organization, you need to decide what your values are, how you live them, and how you communicate them to a wider audience through your words and your actions. 

Be Aware of How You Treat Your Employees 

As employees, Millennials are more likely to be willing to "put personal values ahead of organizational goals," according to Deloitte. They're also an up and coming group in the insurance workforce. This means that you must be ready to work on your organizational culture. Treating your employees well and living your corporate values are important to Millennials. 

At American Agents Alliance, we can help you navigate the challenging world of business development and insurance marketing. Contact us for see how we can help promote your business and employee development and learn from other insurance agencies at our Alliance Convention.

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