Insurance Agent Web Power

About 18 months ago, Google published a survey that showed that about 70% of the time, consumers finding the name of a business in a print medium next went to the web to learn more about that businesses’ products or services.  These consumers turn out to be highly motivated, with nearly 70% purchasing a product or service – from someone.  Also about 70% of the time (nice symmetry: 70:70:70), those consumers consummate the sale, not online, but over the phone or in person.

Just this week, Wells Fargo published some survey results about their insurance customers and the findings were similar:  customers, particularly those in their 30′s, research insurance online before purchasing.  For simple insurance products, like renters insurance, those consumers are willing to buy online.  But for more complicated insurance, like car insurance, people want to talk to someone before buying.  Spokesperson Melanie Donaghy noted, “when it comes to purchasing, people want an agent to talk to before making the final buy..if auto were as easy as renters insurance we would see more purchases online…”

There are a few obvious take-aways for independent insurance agents:

1.  Lack of a quality website will impair sales (a finding also corroborated by PIA studies)

2.  You should not use your agency website as a barrier between your people and the prospective customer; that is, don’t make them fill out on line forms – give them a choice

3.  You should make it clear on your website that you welcome calls

4.  If you want to measure the sales contribution made by your website, you have to ask call in prospects how they found you or if they visited your website before they called

You could say ‘insurance’ is the answer, and at some level, it is.  But that glib answer makes many of us miss several of  the imperatives of any business:  getting customers, keeping customers, and making sure our customer relationships are profitable (so we can stay in business).  I attended a recent agency association convention where I heard two comments repeated that I have heard for years:

1.  Oh, you guys do web stuff?  I’ll give your information to my technology guy to review.

2.  I’m in the insurance business, not the technology business.

I felt the need to post my take on those comments, but I didn’t feel like typing.  So here’s what you get: