Social media in the insurance industry web presentation

Social Media in the Insurance IndustryTim Hurley

“Do They Have a Twitter for That?”

SOCIAL MEDIA IN THE INSURANCE INDUSTRY

Famous Last Words? • It’s a fad• I don’t have time• It’s not for business• It’s not for our industry• It’s not for our company•What is the ROI?•Not on Company time!!!!!•What about E&O?

Think this was about social media?

These are real quotes about agency automation (circa 1982) and email (circa 1997)!

Why Should You Care?

• Social media gains traction ..even in insurance!

• Customers migrating here in droves

• Agencies, brokers, and carriers believe these platforms open up new opportunities.

• We’ve witnessed “Main Street” acceptance of social networking as a powerful and persuasive communications tool.

• It’s not that complicated

April 8, 20236

The Social Media Ocean

Social Networking By The Numbers

•135 million users

•35% of users access LinkedIn daily

•81% of users belong to at least one group

•More than 2 million companies have LinkedIn Company Pages

•225 million users

•50 million active users log in every day

•100 million active users log in once a month

•More than 800 million active users

•More than 50% of users log on to Facebook on any given day

•More than 350 million users currently access Facebook through their mobile devices

Social Media Stagnation? Fortune 500 Snapshot

• 31 percent of the 2011 F500 still have neither a Twitter account nor a Facebook presence, at all.

Blogs– Only 23 percent of the 2011 F500 have corporate

public-facing blogs with a post in the past 12 months

Twitter– 62 percent of the 2011 F500 have corporate Twitter

accounts with a tweet in the past thirty days an increase of 2 percent from last year

– All the top ten companies in the 2011 F500 are tweeting

Facebook– 58 percent of the 2011 F500 have Facebook pages

Dialogue

Pillars of A Social Media Strategy

Technology Relationships

Content

Getting Started

• Have a clear objective– What do we want to accomplish?– Is it measurable?

• Google is your friend (for targeting) – What shows up in top ten results?– Does it provide a door opener?

• Start monitoring, listening– Set up Twitter account, listen to industry– Use RSS, Google blog search, alerts

• Find influencers– Who is most visible? Are they widely followed, read? – Are they conversation starters or industry experts?

Getting Started: LinkedIn

• Complete profile• Be active!

– Join relevant industry groups– Post updates (link to Twitter)– Conduct a survey; share results– Link to company blog(s)

Getting Smarter: Lead Gen with LinkedIn

• Develop an Inbound Marketing campaign– Provide information, content, expertise– Start conversations, drive traffic to landing pages

• Find people

• Go mobile

• Download apps

• Create, participate in dialogue

Create Strategic Links

Getting Started: Twitter

• Start following industry publications, influencers, customers, partners• Use a validation service: TrueTwit

• Have two-way conversations • Share articles, reports, PoV• Twitter etiquette: “re-tweets” • Use “hash tags” or “#” with tweets• Forge relationships, then use to tools to be a catalyst for

real, in-person interaction

April 8, 202315

Getting Smarter: Twitter TV

CASE STUDIES

Best Practices: YouTube/AllstateA

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Best Practices: Facebook/Atlantic Insurance Agency

Best Practices: Yammer/Sword Insurance

Best Practices: LinkedIn/State FarmS

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What are “Early Adopters” Doing?

• Toe dipping•Educational content– Video, links

• Staying top of mind•Branding as the experts•Retweeting, replying, interacting

•Building/strengthening relationships and pipeline!

On The Horizon

•Real-time goes big time •Greater accountability by CXOs•Google+ for businesses• Social media•All businesses are social businesses

Final Thoughts

Social Media …

• Is a proven business tool• Is not a full time job• Is not that complicated • Is not going the way of the fax machine•Can strengthen your lead generation and awareness building efforts

Thanks, Any Questions?