January 9, 2023 - The insurance industry and digital marketing world are anything but static.
From more extreme weather patterns to disruptions to the traditional business model, you can expect this year to be filled with innovation and disruption for the insurance industry.
Let’s go ahead and talk about several marketing trends and predictions we’ve come up with so you create an effective marketing plan for 2023!
Prepare for an Ever-Changing World
While the core of the insurance industry is centered on protecting individuals, households, and businesses from risks, 2023 may be an unprecedented year of extreme weather.
Rising temperatures across the world could potentially lead to more extreme weather-related conditions, including hurricanes and wildfires. Of course, these types of phenomena, unfortunately, correlate with the insurance industry, including auto, home and business insurance claims.
If you haven’t already, make sure your agency has protocols in place for any potential disasters that may affect your area, including guidelines for community messaging.
Video Marketing Will Become More Prevalent
Video content will likely become increasingly popular in 2023.
In a 2022 survey from the content marketing institute, 73 percent of marketers said video has become even more essential than it had been in the previous year.
It makes sense, considering about 66 percent of consumers claimed to have watched a video to learn more about a brand or product.
As an insurance agent, there are plenty of fun and engaging video ideas you can create and post to your social media, including educational content and fun behind-the-scenes clips from your office.
Remember, though, keep things short and sweet, as the majority of consumers prefer short-form content between 1-3 minutes.
Insurtechs will Continue Disrupting the Industry
Perhaps one of the greatest disruptions to the industry as of recently is insurtech companies. These companies have deviated from the current insurance industry model by utilizing technology — especially data analysis and artificial intelligence — to make the insurance industry more custom-tailored and user-friendly.
Insurtech companies are expected to reach a market size of $114 Billion by 2030.
While there will always be people who prefer having a personal relationship with a real insurance agent, the rise of insurtech companies may pose certain challenges for agencies. As a result, agents may need to look for ways to automate their insurance processes and learn how to reach a wider demographic in this growing digital ecosystem.
Let Melon Local Set Your 2023 Up for Success
Melon Local can help you “ex-seed” your expectations for 2023. From paid and organic search to social media management, we’re on top of all the latest happenings in the digital marketing world. Learn more about how we can grow together this year by scheduling a demo with our team today!