LIFE: MARKETING
Harnessing tech to
enhance your marketing:
Advice from those who are getting it done
Charles K. Hirsch, CLU
Chuck Hirsch, CLU, is the former
editor and publisher of Life
Insurance Selling magazine. He
continues to contribute to insurance
industry publications, in addition to
providing consulting and marketing
services through his firm, Hirsch
Communications Consulting, LLC.
He can be reached at
[email protected].
There seems to be a consensus that when it comes to using technology in this business,
there is significant room for improvement along the distribution channel, from companies to
wholesalers to advisors. But like all generalizations, this one is being broken all along the line by
savvy marketers who have figured out ways to use technology as a tool to enhance and grow
their business. Recently, I was able to ask a few of them about technology, how they make it
work, and how they would encourage others to integrate it within their marketing efforts.
Unrealized potential
From a broad perspective, there seems to be some unrealized potential for more effective
use of technology in marketing life insurance. When asked about that unrealized potential,
Ryan Pinney, vice president of marketing and IT at Pinney Insurance in Roseville, California,
pointed to the internet. “The internet — and specifically social media — is still a largely
untapped market,” Mr. Pinney said. “Specifically, YouTube is the second-largest search engine,
but there’s very little content related to life insurance and very few ads placed on videos
related to life insurance. Using paid advertising on social media platforms is a big opportunity.
“Advisors can use the built-in demographics modeling tools on the various platforms to see
which demographics convert the best and have the most interest in life insurance and financial
services and products,” he continued. “An advisor can then take advantage of the large
population of site users to determine the niche market that’s most likely to
convert — and that they want to pursue — without spending a lot of money.”
“The advisor can become
the resource for financial
freedom by becoming the
educator about why life
insurance is one of the best
assets to own.”
A resource for financial freedom
Matt Schiff, CLU, ChFC, president of Schiff Benefits Group of Horsham,
Pennsylvania, also highlighted YouTube. “Agents who are not subject to a
‘large’ home office compliance department can take advantage of YouTube
today. Agents who have a team, or an administrative assistant who is dedicated
to generating ‘client ready’ content that is not carrier specific, can provide
a service to both individuals and businesses that far exceeds a product-
purchasing experience. The advisor can become the resource for financial
freedom by becoming the educator about why life insurance is one of the best
Matt Schiff, CLU, ChFC, president of Schiff
assets to own both personally and at a business level.”
Benefits Group of Horsham, Pennsylvania
For John Haver, vice president of marketing and strategic development at
Senior Market Sales in Omaha, Nebraska, the unrealized potential lies in the
fostering of the agent-client relationship. “The most unrealized potential lies
in creating technology-enabled sales processes that enhance, rather than replace, the agent-
client relationship,” Mr. Haver said. “Many agents feel threatened by the advent of online sales
because they think it’s going to replace them. But the agent still owns the relationship. The
online sales process just enables them to be more efficient with their time.
“Look at term sales,” he continued, “many of which are completed online now. For a long
time, the most successful agents in this business sold term insurance and converted those
32
Perspectives
Q3 2019
product sales into long-term clients by following up with a
full needs analysis and developing a relationship. Technology
hasn’t changed that business model or made it obsolete.
It enhances it, by helping the agent acquire clients more
efficiently, and then more intelligently target clients for
additional solutions.”
“The most unrealized potential lies
in creating technology-enabled sales
processes that enhance, rather than
replace, the agent-client relationship.”
Don’t go it alone
In Mr. Schiff’s view, too many people make an incorrect
John Haver, vice president of marketing and strategic
assumption about technology being challenging. “For those
development at Senior Market Sales in Omaha, Nebraska
insurance marketers who wish to venture into the ‘online’
market,” he said, “you don’t have to go alone. There are
vendors that specifically send out ‘drip’ emails to your
contacts on a regular basis. The one I use offers specific info for clients and centers of influence
that communicate the advisor’s knowledge and expertise in the marketplace. I can customize
my newsletter for each market, and it keeps me in front of all my key people.
“If the advisor combines that with a paid content service such as compliance-approved
LinkedIn/Facebook page posts, then the advisor can start creating client-friendly content
within a week. It isn’t that hard, but an advisor needs to follow their company compliance
rules.”
Mr. Haver agrees that the advisor or wholesaler needn’t feel alone. “For those who consider
themselves technically challenged, the message is you don’t have to do all this yourself. Many
agents successfully outsource these digital functions to an assistant, a younger family member,
or even an intern from the local college.”
Start simple, develop a voice
Two of Mr. Haver’s associates at Senior Market Sales − Bob Harding, chief technology officer
and Bill Kauffman, vice president, financial solutions − spoke to this issue as well. According to
Mr. Harding, “When it comes to social media in particular, start simple. First, get a presence,
and then start following others and listening. Find people who are successful on social media
and try to emulate what they do. Then start building a following and interacting to develop
your own voice.”
Mr. Kauffman added, “When it comes to more complex technology
solutions, you don’t have to build it yourself, or even buy it. Find a
“The best way to ‘test the waters’
partner whose technology you can tap into.”
Mr. Pinney addressed the problems ahead for those who don’t take
is to be something of a voyeur…
on the technological challenge. “If you’re tech-challenged, the future
You don’t need to post any
is going to be rough. It’s incumbent upon you to become educated
and comfortable with technologies, new marketing platforms and
content, but you should watch
communications. If you don’t, you’re likely to become extinct. For
what others are doing… to help
those who are willing to put in the effort, social media and online
create your own approach.”
marketing can be rewarding and fun — but remember it should be
treated like a cocktail party — it should be a conversation and true
Ryan Pinney, vice president of marketing and IT
interaction between you and the consumer, designed to build trust,
at Pinney Insurance in Roseville, California
interest, and ultimately, convince them to take the desired step of
working with you or buying a product or service.”