If you’re a small to mid-sized brokerage, you probably don’t have a gargantuan marketing budget, and yet you’re often forced to compete with national, multi-office brokerages that do. We understand that challenge because Policy Works is a small company too. We are continually looking for ways to creatively manage our marketing budget and resources.
These days, the most lethal weapon in your marketing and promotion arsenal is a social media presence. There’s over a billion people on Facebook and 450 million people on LinkedIn. That’s a huge reach. That is why a social media presence is more important than ever when it comes to growing your brokerage.
But first, you must have a social media presence. Here’s three tips to get you started.
1. What do you want to accomplish?
If your goal is to grow your commercial book, identify who you’d like to target:
A bit of both?
It's critical to know exactly who you want to attract to your social media sites by posting, liking and sharing content that is relevant to them. If your brokerage has a commercial contractors program for example, post and share content about the benefits of a tool floater, or how to insure a business that’s run out of a truck.
2. Don’t do it alone.
If you’re a brokerage principal, your calendar is already jam-packed. Find out if there's any staff that understand the workings of social media and delegate them (or a team) to handle it. But if you're looking at investing in a full-on social media campaign, we recommend hiring a professional marketing firm that knows how to strategize and implement it.
3. Promote your community involvement.
Photos and images receive more likes and shares than words only. People may not remember what your post was about, but they will remember a photo or a video, especially if it's something they can relate to.
Several small to mid-sized brokerages sponsor a local sports team or a charity event. Posting photos of uniforms bearing your logo, or signage at the curling rink is easy and inexpensive exposure. Not only that, everyone likes to be recognized for a job well done and your brokerage is no exception.
Finally, as a small to mid-sized brokerage, it's easier for you to establish meaningful connections on social media. A national, multi-office brokerage by comparison, may not have time to give personalized responses to each client or prospect, especially if the person (or persons) monitoring the platform is in a marketing department somewhere on Yonge Street and your brokerage is right around the corner.
We hope you give these tips a try. Let us know if it helped boost your social media presence or at least got you thinking about it. If you have any social media tips you’d like to share, contact us. We’d like to hear them.
Analytics for principals
Commercially focused brokers need to know what's happening with their book. We've developed an analytics eBook roadmap to help.