You have professional profiles set up on all the major social networks – Twitter, Facebook, LinkedIn, Google+ - and are actively engaging with your audience. Your efforts on social media are helping your grow your agency and gain a few new leads. However, if your professional social media presence is like that of many other businesses, you might be feeling a little frustrated.
- Why is it so hard to get good leads from these channels?
- How can I get more people to talk about me on social media?
- Why aren’t more people engaging with my agency?
- Why is it taking so long for my audience to grow?
The long and short of it is that social media is focused on building relationships. Just like in real life, where you build relationships with clients in-person, this process does take some time. But what if you could speed it up a little? That’s where social media advertising for your agency comes in.
In this piece, we will one of the most popular and effective social media advertising platforms for insurance agents – LinkedIn. You’ll learn whether they make sense for your agency, what results you can expect, and how to get the most out of your campaigns.
LinkedIn can be a powerful marketing tool for your insurance agency. If you haven’t already built out your personal and agency profiles on this network, take some time to do so. A well-managed LinkedIn profile can help add authenticity and awareness to your brand while connecting you with other businesspeople and peers in your industry.
LinkedIn also offers self-service advertising opportunities – but are they something an insurance agent should take advantage of?
To answer this question, it’s important to understand that primarily, LinkedIn’s strength is in promoting business-to-business sales. While LinkedIn advertising may not be the most effective tool for gathering leads from individual customers, it can be very useful for connecting with and landing high-value group health or commercial property and casualty sales.
Be aware that a LinkedIn campaign requires some dedication and “babysitting” – ads can become stagnant over the course of only a few days, and you will need to be vigilant in your efforts to keep click through rates, cost-per-click bidding, and your daily budget calibrated.
LinkedIn offers three main advertising options:
- Promote your insurance agency’s business page to gain new followers
- Promote the status updates from your agency’s business page to increase engagement
- Advertise a specific product, service or resource to direct users to a landing page where you can collect leads and customer information.
The third option is what we will focus on, as it has the greatest potential for return on investment for your insurance agency.
LinkedIn Ad Targeting and Pricing
The professional nature of LinkedIn allows you to target users on a very granular level. You will have the opportunity to target your ads based on:
- Location, down to specific city and metro areas in the United States.
- Industry, such as Medical, Construction, Technology or Manufacturing.
- Company size
- Skill set
- Job title
- Job function
- Members of specific LinkedIn groups
As with Twitter advertising, the more parameters you put on your audience targeting, the smaller your audience will be. Aim for an audience size that makes sense – best practice is 150,000-400,000 members. A smaller audience may result in your ads not displaying.
LinkedIn ads are priced on a cost-per-click (CPC) basis. Depending on your audience size and how targeted it is, LinkedIn will present you with a recommended bid range. To compete with other advertisers and ensure that your ad is displayed, aim for the high end of the range. You can always adjust your CPC bid later. You may choose a maximum daily spend throughout the life of your campaign.
Basic LinkedIn Ads
A LinkedIn ad that promotes a product, service or content will direct users off-site to a landing page of your choice. To increase your conversion rate and gather more leads, make sure your landing page has relevant, specific information that will encourage users to learn more.
The ads are very simple to set up, and are made up of four main pieces:
- A small image – 50x50 pixels. Make sure this image is clear and easy to see, since it is so small. Typically, images of logos perform the worst, and images of people (especially women) perform best.
- A short headline of 25 characters or less. Including the target’s job description in the title tends to have a high success rate.
- A short description of 75 characters or less. Include your call to action in this area.
- A link to your landing page.
Create two to three variations on your ad so you can gauge which ads are performing best. LinkedIn will display ads with a click through rate (CTR) of 0.025% or higher more frequently. If your CTR dips below that, consider editing or switching out your ads to bring the CTR up. Evaluate often or your ads will not display.
You may also choose to add lead collection to your ads – this enables the people you have targeted to contact you directly via LinkedIn for more information.
LinkedIn ads display on the LinkedIn home page, in the right sidebar and sometimes across the top of the page (without an image). They also appear in most other areas of LinkedIn, such as on personal profile pages and in search results. You choose to have your ads display on LinkedIn’s partner network, which includes high-profile sites like the New York Times and BusinessWeek, at no additional cost.
The main keys to success for using LinkedIn ads to advertise your insurance agency is determining your goals. LinkedIn advertising is best suited for business-to-business marketing effort and can be a great addition to the social media strategies you already have in place!