How to Use Social Media Effectively: Everything an Advisor Needs to Know

Social media is an essential tool in the insurance industry, and as a result your managing general agency should use it to its full potential. If they are not, chances are there are others out there that are. But just taking advantage of it and using it effectively are two different things – so we’ve compiled a list of tips to help ensure that you are getting the most from this cost-saving, client engaging, mass marketing resource.

Firstly, if your MGA isn’t on social media, they are missing a huge market to establish recognition of the brand which impacts your online credibility as you are trying to land new business under that brand. If the company you work with can’t be found online, and we don’t just mean your company website, your credibility can take a nosedive. Clients now rely heavily on social media when making purchasing decisions and the influence of those in their social networks.  In our social world, clients like to search on platforms such as Facebook and Twitter to see what others are saying – so you have to make sure that they can find you there.

But just having a presence doesn’t cut it anymore, and in order to be effective there are a number of tasks that need to be accomplished. Your MGA should be releasing unique and relevant content on a regular basis, to a number of different sites.

Having a well-rounded presence on major sites like Facebook, Twitter, LinkedIn, Google+, Pinterest, etc. is very important. Most people prefer a particular site or two, so if your MGA has not cast a wide net, recognition of the brand will be diminished.

LinkedIn is an important social media resource that insurance advisors should take advantage of. This professional platform allows you to connect with professionals in related industries which can result in a gold mine of referral business. LinkedIn is also fantastic for establishing your own credibility. Properly linking your page to your corporate brand, pursuing recommendations and skills endorsements can not only ensure that prospects can find you LinkedIn but can also validate your professional credibility.

Also, your MGA’s conduct on social media and your personal conduct when using social media is very important. Remember that both you and your MGA should ensure that your conduct is professional and non-combative. It is always to consider that posting is similar to standing on the street and shouting out the information. Think before you post. Is what you are posting something that you would verbalize if you were face to face with someone? If your MGA is posting polarizing opinion pieces on social media this could not only be damaging to you but also damaging to the brand you are representing.

Internally, social media is also a great tool. The independence garnered by working with an MGA can come with pitfalls if your MGA doesn’t manage them correctly, but by giving you access to different company social media platforms you can keep up to date on current events within the company and direct clients to pertinent articles. This keeps the level of engagement up even when you are not in the office.

The power of social media can no longer be ignored, and to avoid it can mean dangerous consequences. Make sure that, as an advisor, you are taking advantage of all that it has to offer and using it effectively.

To find out more about how to use social media effectively in the insurance industry, please contact Independent Financial Concepts Group by calling 416-849-1653 or visit www.joinifcg.com.

New to the Insurance Industry? Why an MGA Might be The Right Fit

Starting a new career is often accompanied by an overwhelming sense of choice. This is no different in the insurance industry and if you have just joined the advisor pool you are no doubt aware of the choices that exist. One of the most important choices that you will make, one that can dictate your entire career, is whether to join the right kind of organization.
 

As a new insurance advisor you have three choices:

1.      Work for insurance company which can provide you with an opportunity to be associated to a recognized brand but can come with many limitations.

2.      Work with a managing general agency which can result in incredible flexibility and opportunity if you choose the right managing general agency.

3.      Go on your own which is by far the steepest climb up.  

If you are keen on retaining your independence, keeping things flexible and also having the support of an established organization behind you, then the best choice may be joining an MGA. There are several great benefits to this – but you need to go forward prepared. You can’t just join the first MGA you stumble upon. Do your due diligence because you do not want to make the mistake of signing on with an MGA that is primarily concerned with their own needs is not going to equal solid career growth for you. 

Here are some important factors to consider when choosing an MGA as a newcomer to the insurance industry:

Reputation means everything. In insurance, if you can’t be trusted or relied upon, chances are pretty good that your portfolio is not going to be very strong. It is important to check out the MGA’s online presence, client reviews and contributions on professional social sites like LinkedIn.  

Is the MGA technology savvy? It is important to work with an MGA that gives the tools you need to be successful. When you are starting out every dollar counts so working with an MGA that provides you with your own website, CRM, resources to protect your client’s data and more will set the stage for you to compete in an age where almost everything is done digitally.    

Supported independence means not having to do everything on your own, and professional support is crucial if you want to succeed. Things like a professional office space provided by an MGA gives you the ability to bring clients into an office environment and schedule meetings in an atmosphere that is both professional and welcoming.

 

Speed matters. Your MGA should have a policy in place to expedite applications so that no clients are lost because of the process taking too long, and should give you access to underwriters instead of being blocked from them.

Continuous professional development through training provided by an MGA allows you to keep up to date with the newest technology and software. It also means that you can learn from others in the industry and gain their knowledge in a way that will help you perform. Training on sales tools and lead generation will help you garner sales and create relationships with clients.

Before you make the choice of whether to join an MGA or an insurance company, find out about the benefits that come with working with an agency that not only provides the tools to succeed but also to help you remain independent.

If you are new to the insurance industry and are thinking about working with an MGA, please contact Independent Financial Concepts Group to find out more. Call 416-849-1653 or visit www.joinifcg.com.

 

Are You Getting the Right Support? Your MGA and Professional Training

We all know that support is crucial no matter what industry you work in, but if you are an independent advisor in the insurance industry, working with an MGA, that support is even more important. It is critical to have someone at your back who can offer you what you need to achieve your goals and further your own career. A major part of this is consistent and ongoing professional training. So, are you getting the right support?

 

Modern Prospecting Strategies: The first step to building your portfolio is prospecting, and so you need to be aware of the newest techniques and strategies for finding and building your network. Lead generation training is crucial here, and your MGA should offer you training on the latest and most effective methods for generating leads and referrals.

Sales Techniques: Do you have access to, and training on, the most up to date sales techniques? In order to succeed you have to be able to sell. The right MGA should offer training on how to get clients interested in the products you sell and closing deals.

Time Management and Work/Life Balance: Sometimes it can be hard to traverse the fine line that makes up the work/life balance, and so having the support behind you to help you develop techniques to overcome this is crucial. Your MGA should support you on this as well, providing you with the mentoring to achieve that equilibrium.

Product Training: When new products are introduced, your MGA should make sure that you are well informed about each aspect of these products. If a client wants to purchase a product and you don’t know enough about the product to effectively sell it that can equal a loss for you. Make sure that you are up to date on all of the latest products.

Maximizing Revenue: Once you have landed a client and secured their business, the opportunities don’t end there. Does your MGA teach you how to get the most from these relationships in the form of maximizing revenue? Your training should include points on how to keep clients engaged and the different insurance products that can be pitched to them and their various benefits.

If your MGA or insurance company is not offering the support that you need in the form of professional training you may be losing out. Not being able to generate leads or offer the best products and services to clients is a big problem for many insurance advisors, so make sure that you overcome this by working with an MGA that offers effective training on all the things that will let you serve your clients – and yourself – to the best of your ability.

For more information about how professional training offered by your MGA is important, please contact Independent Financial Concepts Group by calling 416-849-1653 or visit www.joinifcg.com.