Facebook most popular social media tool for brokers: Economical survey

LinkedIn and Twitter round out the top three

Ninety percent of insurance brokerages prefer using Facebook to communicate with customers and prospects, according to a survey by Economical Insurance.

The insurer asked nearly 300 professionals in P&C brokerages across the country how they use social media for business. Sixty-one percent of respondents used LinkedIn, and 53% said they use Twitter.

Related: Economical brings cyber coverage to market

“Most brokers recognize there’s value in having a strong social media presence,” Naheed Somji, Economical’s senior social media specialist, said in a statement. “The top spenders agree that an engaging social presence gives an organization a greater competitive advantage.”

Respondents said they use social media at work for a variety of reasons, with the top three being generating new leads (79.5%), building brand awareness (75.9%) and engaging with existing customers (69.9%). Just over 24% of respondents said they use social media to keep an eye on competitors.

“Brokers are using social media in a variety of ways, from generating new leads and sales, to providing customer service,” said Michael Shostak, Economical’s senior vice-president and chief marketing officer. “But it’s early days and as an industry, we haven’t yet fully realized the potential of the medium.”

Economical has published a report on its findings—2017 Pulse Check: Social Media Usage in the Canadian Insurance Industry—which can be downloaded here.

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