Hello Blog readers! As you read this you are probably getting ready for Thanksgiving and I’m not sure what your feelings are but I know that I am particularly excited for this year’s Thanksgiving. The reason I am so psyched is because I have a lot to be thankful for this year. We shouldn’t need a holiday to remind us but I would encourage you all to take a moment and think about all of the great things this life has granted you and be happy! Also, take a moment to reflect about others who may not be as lucky as you are and think about ways you and your agency can affect some positivity in your own community. Food banks, Goodwill and Toys for Tots are great ways to help the folks who are having a harder time.
I will now jump off my soapbox and get back to what you are all waiting for. Topical Insurance knowledge! In part three of my Blog series on Millennials I want to speak to you on how we find the millennials in your community. The great news is that the millennials are in your community and it’s important to think of ways we can attract them to your agency. As I mentioned in my first rant, I encourage all agencies to take part in supporting a particular cause whether it’s helping the homeless, less fortunate families or even animals if you prefer them over people! A recent study has shown that almost 50% of millennials would be more willing to make a purchase from a company if their purchase supports a cause.
I’ve worked with a few agencies in the past that have instituted donation based new business. What this means is that they will advertise via social media, website, print materials and emails that for every piece of new business written they will donate $5 to either a designated charity or take it a step further and put the power in the buyer’s hands by asking them directly which cause or charity they would like you to donate towards. When it comes to Millennials they are more likely to maintain brand loyalty if the brand stands for more than their bottom line. A good example would be myself; I am a Millennial. I used to wear Nike everything for my workout gear because I wanted to be current and I saw Nike as the best of the best. However, as some of you may know, my father was a Vietnam Veteran so the support of our veterans is very important to me. When I learned that Under Armour supported the Wounded Warrior Project my workout dress code quickly shifted. My wife teases me now that some people may think I have a sponsorship deal worked out with UA. I am loyal to a brand that supports a cause I strongly believe in!
Now that we’ve discussed a great concept towards attracting them to your agency it’s important to keep moving down the path of where to find said Millennials. The best place is going to be social media. If you do not use social media and do not regularly blog I dare to say that you are behind the curve. 46% of Millennials have 200+ friends compared to 19% of Non-Millennials. That’s an explosive reach!! You have to think in terms of technology as the primary channel to reach this audience.
With that being said I think it’s also a good opportunity to look at your staff and ask yourself should I get a Millennial in the office? Better yet should I get a Millennial in this office to manage our marketing? The reason I say this is because Millennials are content creators and users. 46% of Millennials post original photos or videos online that they themselves have created. That will help you speak to the audience. Some of the best agencies I work with have Millennials tackling their social media to great effect.
I hope that this blog is helpful to all of you and if you feel that you need a helping hand in making some of these changes Agency Performance Partners can help! We are running an End of the Year special and you can check it out here: https://www.agencyperformancepartners.com/promo/.
