Does the short-form, online video platform fit in your marketing program?
Your agency’s story and the content you have available for your marketing campaign is what’s important. Can you present it in a fun,energetic, professional, compelling short video?
By Chris Paradiso
A June 2020 TikTok filing reported that 92 million or so Americans were using the short-form, online video platform every month, with roughly 50 million being daily users. The company reported in September 2021 that its monthly user count worldwide reached one billion.
Given its crazy popularity, insurance agents and carriers are increasingly looking at how to thread the platform into their marketing strategy. But the million-dollar question is: Should TikTok be part of your agency’s marketing program?
Not every new marketing channel or social platform reaches your target market/client. However, it’s important to consider how many TikTok videos your Twitter feed and/or Facebook connections share with you, which you then share with others (prospects and/or clients). Granted, not every social viewer is a potential prospect, market influencer or person you need to reach.
So, let’s explore how TikTok has worked in the insurance agent and broker community.
Rooster Insurance in the United Kingdom has reportedly used it with massive success. Rooster’s new app brought in over 800k views; the firm claims its app was downloaded over 6,500 times in less than two days after a Rooster post went live on TikTok. Of course, it’s unknown what the ROI is of those 800k views; only time will tell.
Still, the numbers are very impressive. Remember, Rooster’s niche market is Millennial and Gen-Z drivers, so TikTok is absolutely the right social platform to attract that market.
Will TikTok reach your agency’s target market? The answer is rooted in an integrated marketing approach that requires consistent delivery of key brand messages with a common look and feel across all social channels.
As marketers, we know this disciplined marketing approach works when it is laser-targeted to specific niche audiences, using the proper social channels to reach that audience. When this happens, marketing can add massive value to your agency’s brand.
Many agencies find that they and their marketing team can effectively communicate through TikTok. Looking at public data related to TikTok’s potential reach, Sprout Social reports that “62% of users are between 10 and 29 years old, and the average usage per month per user is 858 minutes.” The report also says TikTok revenue generated in 2020 totaled $1 billion.
As of January 2021, Sprout Social says, TikTok was the second-most downloaded app in the world; reports show that the TikTok user base in the United States is expected to grow by nearly 20% annually.
These staggering numbers make TikTok one of the fastest-growing social media apps in the United States. Sprout Social also notes its massive popularity among the younger audience, even though 10% to 12% are aged 50 and over. Granted, there are more demographics to consider than age, but if realized that 37% of the users have a household income of $100,000 or more (Sprout Social, April 22, 2021), there’s a good chance the audience may represent a good fit, depending on the type of insurance products your agency is selling.
Factors to think about
I’m not saying that every agency should be on TikTok, but many that should be thinking twice about it are not. Here are several things to consider:
- Your agency’s story and the content you have available for your marketing campaign is what’s important. Can you present it in a fun, energetic, professional, compelling short video?
- Does the outcome you anticipate from a marketing push through TikTok justify your marketing expense?
- In my opinion, you should at least evaluate it and try it; if you don’t fail enough, you aren’t trying hard enough.
- If your agency decides to go forward and give it a try, be sure to maximize your marketing dollars and maintain your integrated marketing discipline.
- Track everything—and remember to link TikTok to your agency’s website. Jump on Twitter and tweet out to the world that you are on TikTok.
- Consider tying it into Facebook, as well. Embed a link in a related news release.
- Don’t stop there—consider Insta-gram and LinkedIn.
- If you have an active blog, make it a part of your blogging strategy and part of your campaign.
Monitor and measure your TikTok results. Learn from those results; improve them, and then use that information to form the development of your future marketing strategy. Don’t be afraid to fail; it’s really not a big deal to try something and say it didn’t work. Just simply keep an open mind and don’t be afraid to be different!
Chris Paradiso is president of Paradiso Financial & Insurance Services, headquartered in Stafford Springs, Connecticut. His agency won PIA National’s Excellence in Social Media Award in 2013. He also heads up Paradiso Presents, LLC, which provides social media consulting, seminars and workshops to help agencies thrive in the online marketing world. Contact Chris via email at firstname.lastname@example.org.