Social selling in financial services, presented by Brendan Kenalty

SOCIALMEDIA.ORG/SUMMIT2016ORLANDOJANUARY 25–27, 2016

Social selling in financialservices

BRENDAN KENALTYMANULIFE FINANCIAL

We operate as John Hancock in the United States, and Manulife in other parts of the world.

Case Study: Social Selling in Financial Services

Brendan Kenalty Victoria Al-Samadi Lauren Heerlein Liza Chalaidopoulos-Isaacs Sarah Hill Jen Dorman Mariya Levchenko Jan 26, 2016

@JohnHancockUSA

@Manulife

Bit of background. Lead digital for global brand team. Tech and CPG background. Love to travel

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@JohnHancockUSA

@Manulife

Who is Manulife/John Hancock?

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• The business • Global financial services (Asia, US, Canada)

• Insurance, wealth management, bank

• 50,000+ employees and agents

• Our team • 20 on global social team (corporate and divisional)

• 7 of us here in Orlando

• Social operating constraints • Regulation (IIROC / FINRA)

• Stakeholders’ social knowledge/comfort

• Technology enablers

@JohnHancockUSA

@Manulife

Social selling big opportunity @Manulife/John Hancock Activating our 50,000+ people is next evolution of social media for our brands

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• Shifting focus from brand channels to employee channels • New reach (employee personal channels)

• High audience engagement (know what their audience likes)

• Employee engagement impact (motivated to build their personal brand)

• Need to ensure a programmatic approach to employee activation • Governance, measurement, content, and support

2015 Results:

• 300 employees

• 2x reach

• 5x engagement

@JohnHancockUSA

@Manulife

A brief history of social selling @ Manulife/John Hancock It’s been an exciting two years so far

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2014

Pilot!! (Advisors+Execs)

2016 2015

Compliance Collaboration

Recruit Expert

Business Recruiting

Tech Enabler Exec Presentation

Monthly Scorecard

Employee Pilot

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Acceleration Funding

Expansion

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Content Requests

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Results!

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Global Social Media Policy

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@JohnHancockUSA

@Manulife

Social selling requires an ecosystem Ongoing cycle of insights, content production, distribution and measurement

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• Requires HIGHLY collaborative approach by community • 50+ participants across enterprise (creators and channel owners)

• Weekly production meeting (day-to-day coordination)

• Monthly community call (share insights + plans)

Growing # of distribution channels by +10,000x requires new scalable operation model

@JohnHancockUSA

@Manulife

Example of our content cycle @work Insight driven content drives distribution and impact

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• Guiding principles • Listen to channel owners (what do they want to share?)

• Deliver timely, on-trend info (market info has short window of relevance)

• Leverage company experts (build brand, faster/cheaper, egos)

Our channels and executives are VERY excited about this!

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150000

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250000

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Executives Advisory Services Bank Retail MAM Phillippines Signator Elevate

Social selling scorecard – December 2015

BUSINESS VALUE (ROI) HIGHLIGHTS

ROI Type Details Participant

MEDIA

ATTENTION

Both XX and XX were contacted by Advisor's Edge magazine via social media to be featured in an upcoming article. Advisory Services

Lead

Generation

XX had 3 contacts from Facebook, 2 life insurance sales are pending and 1 appointment booked for January.

XX: The success was a candidate I have been tracking for awhile now responded to liking one of the articles I shared. I have reached out to him to connect

and book an appointment.

Advisory Services

New Business XX: I received a referral from my WM wholesaler. He never gives me names and this time sends me the prospects personal email address to connect with

him. I used Linked In to look at the prospect's profile to gauge the caliber of the candidate. It turns out he uses a team approach and his book is 100M AUA.

I have had two email exchanges and awaiting the Confidentiality Agreement to be returned before we get into OGP particulars.

Advisory Services

Lead

Generation

There were 40 leads reported for the month, six less from the previous month. This brings up the total number of leads generated by the program to 983.

The decline in leads in December can be attributed to the month being the last of the year and year-end targets of the agency were strictly being imposed

on the agents so that last-ditch efforts are made to meet them. This caused the further decline in the content submission of participants. In September and

October 2015, we were achieving 80-85% week-on-week WCC submission rates from the participants. But in November, we were only hitting 60-70%

submission rates from participants. This decline was further observed in December as we were only hitting 50-60% submission rates. A dip in the

submission rate normally results into a dip in the engagement numbers as well, causing a decline in lead generation.

Manulife Advisors, Metro

Manila and Metro Cebu

New Business

There were 8 closed cases for the month of December. This brings the total number of closed cases to 63.

Two new advisors, XX and XX, join the leader board with closed cases this month, bringing the number of participating advisors with closed cases up to 25.

Both XX and XX are not new to the program, having joined the first batch of participants in February 2015. Their feat of closing cases after 10 months into

the program is a testament that, as expected, the nature of the program being a “slow-burn” process but with constant engagement with the followers, can

be translated to sales conversion. They both were able to close their cases from fans of their FB page.

Manulife Advisors, Metro

Manila and Metro Cebu

Reach (Owned): (# of social connections by group)

Engagement Rate: (% interactions of social media posts)

Business Value: (Est. $ business value of leads)

Leads Generated:

Month Business Value of Leads

Sep $ X

Oct $ -

Nov $ X

Dec $ X

Jan $ -

Feb $ X

Mar $ X

Apr $ X

May $ -

Jun $ -

Jul $ X

Aug $ X

Sep $ X

Oct $ -

Nov $ X

Dec $ X

Total $ X

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100

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500

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May

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Canada AsiaEmployees

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@JohnHancockUSA

@Manulife

We’ve had a few learning’s so far. Some of these we learned the hard way.

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1) Education Compliance & Legal

Business value story to Execs

2) Balanced resource allocation Planning + In-Market Activities

Content + Distribution

Executives + Experts

@JohnHancockUSA

@Manulife

2016 priorities = Accelerate adoption We have received executive support to quickly expand program

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1) Scorecards and insights Drive insight as core of content planning

Scale insight sharing with content owners

(eg. trends / performance)

2) Content Find technology platform to help manage library

Add more thought leaders as high value content sources

Develop scalable production model across enterprise

3) Distribution Recruit more sales group across the company to participate

Add more employees

4) Prove Business Value

@JohnHancockUSA

@Manulife

Strategy Governance Content

Thanks for listening!

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Lauren Heerlein

(US)

Liza

Chalaidopoulos-

Isaacs (Global)

Jen Dorman

(US)

Victoria Al-Samedi

(Global) Brendan Kenalty

(Global)

Mariya Levchenko

(US)

Sarah Hill (Can)

We look forward to connecting.

@BrendanKenalty Linkedin.com/in/brendankenalty

SOCIALMEDIA.ORG/SUMMIT2016ORLANDOJANUARY 25–27, 2016

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