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Andy Donaldson

How to drive policy volume with paid social channels

Increasing policy volume will be a number one priority for most insurance brands. So when it comes to paid social as a channel, how can you ensure you’re making the most of it in order to fully support and help achieve the end goal of increased policy volumes?

Many insurance companies view social media as a ‘conversion assisting’ channel when it comes to increasing policies. It’s something they ‘know they should do’ but invariably aren’t sure why. Depending on your audience, naturally, each social media advertising platform can serve very different purposes, helping you tap into very different audiences.

We discuss three tips below to help you capitalise on your paid social tactics.

increase policy volume with paid social media channels

Build out your social media buyer personas

You might already have buyer personas built for your business but having separate, well-defined social media buyer personas helps you keep focus when building your paid social media campaigns. Knowing what interests your audience, what motivates them to purchase insurance etc. can help when you’re also looking to actively manage an organic social media strategy as well as your paid strategies. Equipped with this knowledge, you’ll be able to write copy that specific engages your audience and helps encourage them to take action and click through to your site to discover more.

Get your targeting correct

Seems easier said than done, but, if you’ve followed the above tip about building your personas the targeting aspect becomes much easier. Within Facebook’s advertising platform, for example, you can segment the audience by location, demographic, interests and behaviour. Once you’re up to speed on exactly who it is that makes up your audience, your ads will start being displayed in front of the correct audience who is much more likely to engage with your insurance brand, and even sign up to a policy further down the line!

Set objectives and lay out a measurement process

Setting objectives can help keep your social teams motivated but it can also help you easily measure your campaign progress. Knowing where you started, how you’re going to measure your progress and what a successful campaign looks like, you’ll be able to confidently manage the entire paid social process.

Measurement is just as important as the goal setting part of the process. If you can’t measure your progress effectively you’ll never improve future campaigns and, therefore, never increase your policy volume through paid social media campaigns.

Uncover more tips to help your insurance brand increase its policy volume here.

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If you have a business in the financial sector and would like to up your marketing game or receive some expert information about digital marketing for financial services, then get in touch with a member of our team!

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