Video marketing was once considered a high-cost production marketing asset with a low ROI value. Essentially there was no real way to measure attribution, the audience and marketing channels were limited. Small business owners such as insurance agents would rather allocate their marketing budget to other more traditional methods such as direct mail, radio spots, or updated digital ads.
However, this often felt impersonal, cookie-cutter, and did not provide any real useful information. In highly competitive space, such as insurance agencies, building a relationship with prospective and existing clients is essential.
Why Video Marketing
Insurance agencies should re-evaluate their general marketing strategy. Branding a local insurance website is important but I would highly advise investing in a video content strategy.
Here are 3 quick reasons you should consider producing video content:
- By 2022, 82% of online traffic will be dominated by videos. This means that both current and future consumers will more than likely going to want to see your insurance service offerings in action rather than read about it.
- Videos improve your SEO ranking. There is a complex algorithm in the way search engines like Google evaluate which websites are listed on page 1. Usually this takes months to achieve. However, having video content on your website is a critical element that will accelerate your progress to page 1.
- Informational or DIY Videos are in high demand. 90% of people are looking up informational videos on YouTube. Again, why wouldn’t you want to creating a positive experience on how your insurance agency would best meet the needs of your target customer. By leading the conversation, you could be viewed as trustworthy and a respected leader in this space.
Grow Your Base with Video Marketing
Consumers often begin their decision process by conducting research online. In fact, 80% of the internet searches are conducted on a mobile device. Additionally, 40% are seeking local services for the personal experience. Implementing video marketing, enables insurance agents to cut through the marketing “clutter” as they search on their mobile device. With the evolution of the digital landscape, video quality could remain high without the high cost of a video production company.
- Affordable Video Marketing Tools
As an insurance agent, you may know that hiring a video marketing agency could be costly. Additionally, hiring a full-time employee or a freelancer, the quality of the video will be largely dependent on their experience and your potential investment in various marketing software.
However, thanks to modern easy to use video software, a high-quality video could be produced at a fraction of the cost. Today’s video tools often supply pre-made video templates, music, color options and text placement making it easy. Insurance agents could place high quality imagery, important facts, or even introduce themselves via a video short taking all the creative guess work out.
This helps the video marketing story reach the intended target audience in a relevant meaningful way.
- Grow and Retain Your Customer Base
Customers want to connect with more than just a brand name and want a personalized experience. Video marketing is the perfect content strategy for that essential connection. By presenting how your insurance services and products are different that your competitors will resonate with prospective customer and potential increase engagement.
Existing customers also appreciate the personalized outreach. A simple video thanking them for their business will be very meaningful and more genuine than a generic email. Also, additional video campaigns will only increase customer loyalty and potentially drive in more business.
- Expand Your Reach
Insurance agents that deploy a video marketing strategy could expand their reach in a myriad of channels. As 72% of customers would rather watch a short video than to read content, the channel strategy is really limited only by desire.
As an example, a single video campaign could be deployed in:
- YouTube which is the 2nd largest global search engine.
- Insurance Agency’s Website
- Social Media channels
- And can be shared into other media streams!
Video Marketing is a must have solution in the overall marketing strategy. Consumers, are more likely to watch a video about your insurance services than read about it or click a banner ad. By understanding the needs of the prospective consumer, knowing the affordable tools of video marketing, and by expanding reach makes this a high ROI initiative for any insurance agent.
About the Author
Trinidad Aguirre starts with a “customer experience first” marketing mindset. He has developed top content marketing strategies designed for small business owners to enterprise marketing teams.
Trinidad has worked with several marketing technologies that gather and leverage marketing data to glean valuable insights to deliver data driven marketing strategies in various industries.