First Advisor

George Watson

Date of Award

Spring 6-2022

Document Type

Thesis

Degree Name

Bachelor of Science (B.S.) in Business: Marketing and University Honors

Department

Business

Language

English

Subjects

Social media marketing, insurance, brokerages, small business, value

DOI

10.15760/honors.1258

Abstract

Property and casualty insurance is an intangible service. It is a large industry within the US that in most regard is perpetual. Marketing for insurance is not similar to marketing for most other services or products. The agent must relay the value to the consumer prior to them purchasing it. Further, when considering social media marketing, we find a separate strategy of marketing. Social media marketing is becoming increasingly popular, it has shown as a successful strategy for obtaining consumers' attention and their business. This success has been seen in many industries, including insurance. However, there is a lack of conclusive research on the impact of social media marketing on small independent brokerages of property and casualty insurance. That is what this research aims to address. Social media marketing can create similar positive impacts on this specific industry as it does on others. To address this topic, this thesis pairs a literature review of extant research of social media marketing with in-depth interviews of small business owners in the insurance industry. Findings suggest social media marketing can create the value needed to gain and retain customers in this industry. It was concurrently found that a few obstacles are faced by these business owners when it comes to implementation. These findings are significant as they show the importance of these small businesses utilizing social media marketing as a strategy for their business, which also assisted in identifying future research that could be done to alleviate the obstacles.

Rights

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Persistent Identifier

https://archives.pdx.edu/ds/psu/37764

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