As we get older, some of us look at the younger generation and say to ourselves, “They think they know it all!” While it’s debatable how much they do know, the reality is that many of them simply don’t know much about the insurance industry. They are at a time in their lives when they might not be giving a lot of thought to insurance, but it’s still very important that they get covered. After all, many of them are just getting out of college and into their first job, and don’t have a lot of extra money, so going without insurance could be disastrous. They might also be getting kicked off their parent’s health insurance plan, so they will need to get their own health insurance plan, but they really have no guidance. This is where you can step in – but in order to sell to the younger generation, you not only have to understand their needs but also show them that you do. How can you do this?
Better Marketing Towards The Younger Generation
What type of marketing have you done to attract Millennials to your agency? For example, are you creating YouTube videos? Do you have a strong social media presence? Remember, Millennials spend a lot more time on their phones and engaged with social media than older generations, so marketing to them through these platforms is the best way to reach them – but it has to be done right. You have to know how to engage with them, not just try to sell to them; after all, they can spot inauthentic marketing schemes a mile away! Many are even able to spot fake reviews, and once they do, that company will lose their trust forever.
Not convinced that you need a good online presence? Studies show that younger generations are twice as likely to purchase insurance online; in fact, 62% of Millennials say that if a brand engages with them on social networks, they are more likely to become a loyal customer. In addition, studies show that 89% of consumers will buy from a brand they follow on social media.
Know How To Process Everything Online
It’s not just that Millennials and young adults want to do their socializing and engaging with content online – they want to do everything online! When it comes to making purchases, some want to avoid human contact as much as possible, and just want the ease of doing things with their phones. It is easier and, let’s be honest, faster. When given the choice, Millennials prefer to shop online for health insurance, with 55% focusing on cost when selecting a plan.
If you want to be successful in selling to the younger generation, you have to stay up-to-date on current technology, which you can do with professional development courses. Know how to compare online instantly, sell online, and process claims online for your clients. Even better, share your screen with them and get them involved in the process, showing them all the quotes you’re getting and what insurance companies you’re working with. They might not feel confident when it comes to the different components of health insurance plans, so using technology to keep them in the loop – and get them quotes instantly – can go a long way.
Know What The Younger Generation Wants
Millennials are referred to as “Super Savers” because, although they are more educated than older people, they are also in more debt. The majority are trying to pay back their student loans, so they will want a plan that is inexpensive. In addition, they might not be as concerned about which insurance company they can get a plan from as much as older people, and would generally choose to switch plans if it resulted in saving more money. When it comes down to it, the younger generation are all about getting the best plan with the most savings..
Focus On Community
An excellent way to get the attention of Millennials is to get involved with your community. Making a difference is important to many people, especially the idealistic younger generation, and they often want to work with a company that they view as ethical or that they feel has strong core beliefs. Give back to your community any way you can; for example, show your future leads that you care by organizing a local charity or food drive. Or, let each customer know that you will give a small donation to the organization of their choice as a way to thank them for trusting you and working with you.
Looking For Leads?
Benepath offers exclusive ready-to-buy leads. We create ads that are targeted to every age group with keyword-specific landing pages. When someone comes to our site, they enter their information on our form with the intention of speaking to an agent afterwards, so you know that they are ready to speak to you. We do all the work to generate leads for you, and even create a thank you page with your picture and brief bio, so the lead knows who they are about to speak to. And there is no need to compete because all of our leads are sent to you, and only you! For more information, enter your information in the bar on the side of the page, or call 866-368-0377.
