The frequency with which financial advisors today are using social media may serve as a clarion call for insurance agents to begin interacting with this type of medium if they haven't already done so.
According to global management consulting and technology services firm Accenture, approximately 50 percent of today's financial professionals use social media on a quotidian basis. In other words, they interact with websites like Facebook, Twitter and LinkedIn daily in order to stay in touch with their clientele, reporting to them about various happenings that they should be aware of.
And those who use it say that it's paid off for them in the long run. The Accenture survey revealed that close to three-fourths of advisors said that they had increased their business as a direct result of social media.
Alex Pigliucci, global managing director of wealth and asset management services for Accenture, said that these means of communication will often set advisors apart from their competitors, which will be more apparent in the years to come.
"The use of social media to interact with clients is a differentiator for advisors today, but it will be mere table stakes in the not too distant future," said Pigliucci.
He added that because today's investors, many of whom are insurance customers, are relying on social media to improve their financial awareness, industry professionals who take advantage of this medium will be able to build lifelong relationships. Those who don't will miss out on a golden opportunity.
There's still something to be said for personal interaction, though. In a separate survey conducted by Amplitude Research, respondents said that they preferred to gain positive feedback from others in a face-to-face setting rather than an electronic channel, such as email, social media or text messaging.