Instagram | Sales | 31st October 2021 | Virtual Wire
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When pursuing a sales career, you quickly learn that the key to success is a numbers game. The most vital concept to master is the balance between numbers and time.
As we race the clock to meet a company defined or personal quota, we seek processes that can help us save time and maximize the number of prospects we come across. Understanding how to properly utilize social media platforms such as Instagram can help salespeople conquer their battle with the clock.
What Are The Most Common Ways To Prospect?
Does Cold Calling Work?
Cold calling is usually the first option sales professionals turn to when looking to prospect new leads. It is also the least liked option. If you want to spark fear in a new salesperson, have them pick up a phone and reach out to a cold prospect. This is the definition of trial by fire. Cold calling is literally picking up a phone and dialling numbers from a call list or, even worse, the phone book. Chances of coming across irate people are high, and sales conversions are typically low.
Cold calling does present an excellent opportunity to work on a sales pitch; however, it is not the most efficient way to prospect new leads. Social media presents an opportunity to find new leads, advertise your products and services, as well as generate referrals. Of the major social media platforms, Instagram is a lesser-used option by sales professionals. Let's take a moment to review why more sales professionals should turn to Instagram when looking for new lead prospecting opportunities.
Why Should You Use Social Media To Find Leads?
Instagram is visited by more than 500 million users monthly, with 300 million logging in daily. These large numbers of users point to Instagram being a valuable marketing tool. Insurance agents may have been reluctant to use Instagram because it is seen only as an image-based social media platform. We believe that a change in mindset is necessary as this valuable marketing tool will enable you to reach a new demographic of insurance prospects.
Instagram's social media usage is growing faster than any other platform. In the US, Instagram is expected to grow 15.1%, while social media platforms as a whole are only expected to grow 3.1%. (source).
The average age of Instagram users is 25 – 34 years old, with more than half of the female users. Teens between 18 and 24 make up the second most significant portion of users, 14.5 % of global users. (source).
Users spend an average of 53 minutes a day browsing Instagram, which is nearly as much time as spent on Facebook (58 minutes). (Source).
Can Social Media Help You Get More Use From Your Marketing Dollars?
Many insurance agents spend a significant portion of their marketing dollars on advertising on social media platforms such as Facebook and LinkedIn. It would make sense to utilize marketing funds in the areas where the most prospects will be reached. Research has shown that Instagram is growing at a quicker pace than all other social media platforms. Therefore, money would be better allocated to advertising on Instagram as it is growing 12 times faster than all social media.
Social Media Can Help You Find People More Likely To Be Interested In Your Services
As insurance agents, we are all aware that men pay more for insurance than women until the age of 26. Gender biased premiums are related to statistics indicating that male drivers 25 and under are at a greater risk of committing vehicle-related infractions such as speeding and drunk driving. The primarily female and under 26 years old audience enable agents to target a statistically less risk demographic. Clients of this gender and age are more likely to be offered policy quotes with lower premiums, increasing closing ratios.
It’s All About The Numbers
Prospecting for new clients is a game of numbers. The most successful agents present high volumes of quotes per month. Instagram users spend an average of 53 minutes of their day searching through posts. An agent that spends money on Instagram campaigns will increase the likelihood that prospective buyers will view their ad. The more times your ads are looked at, the more likely buyers will recall your brand when they reach a point to buy.
Instagram advertising is a solid social media option to grow an insurance agent's business. It enables agents to reach a demographic that is often offered favourable rates. Exposure to prospects with reasonable rates will increase an agent's likelihood of closing a sale. As agents look to find new sales opportunities, focusing on Instagram's benefits would be wise.