5. 5 Social Media: You Can’t Wait Any Longer Playing Offense AND Defense
6. 6 Social Media: What’s Next On Offense… Promoting your brand Generating leads Strengthening customer relationships Building a community around customer needs Developing advocates Telling the insurance story Listening and learning
7. Social Media: What’s Next 7 It Does Not Mean: Just setting up a Facebook page Treating asocial media as just another corporate mouthpiece Buttonholing social media in the marketing department
8. Social Media: What’s Next It Does Mean: Listening, not preaching Educating, not lecturing Building a community around your assets Facilitating conversation Encouraging “social sharing” Using the data wisely 8
9. 9 Social Media: What’s Next On Defense… Defending your brand Knowing how to respond to criticism and turn it your advantage Building legal protections Creating risk management plan
10. Social Media: What’s Next It Does Not Mean: Blocking all employee access Tuning out the complainers Waiting for the first compliance violation to take action 10
11. Social Media: What’s Next It Does Mean: Creating a strategy and plan for formal participation Educating and guiding employees and producers Establishing usage guidelines and enforcing them Managing your social media profile 11
12. Social Media: What’s Next TACTICS Blogging Microblogging Social Network Participation Monitoring Video Marketing Blogger Relations Influencer Engagement Community Creation & Engagement Word-of-Mouth Marketing Training 12
13. Social Media: What’s Next Monitoring Consistency Comprehensive Mandatory eyeballing 13
14. Social Media: What’s Next 14 How Much Will It Cost? May use existing staff to start Cost vs. value Protecting the investment in your brand Recalibrate marketing expenses Minimize compliance, litigation costs
15. Social Media: What’s Next Pressure to demonstrate ROI Increasing regulatory scrutiny Litigation challenges Greater carrier-agent cooperation Corporate-based communities 15
16. Social Media: What’s Next 16 USAA New York Life Alfa Insurance State Farm Westfield Insurance Farmers PEMCO VPI Pet Insurance Allstate Erie Insurance American Family Insurance Shelter Insurance GEICO Florida Association Progressive of Insurance Agents
18. Social Media: What’s Next Don’t experiment, construct a roadmap Every department plays a role Engage legal counsel Revise existing guidelines Train, train, train Monitor and measure 18
19. 19 SIX CRITICAL TAKEAWAYS Social Media: What’s Next
20. Social Media: What’s Next TAKEAWAY #1 Social Media is mainstream communications 20
21. 21 Social Media: What’s Next TAKEAWAY #2 Avoiding corporate-sanctioned and managed participation is no longer a viable option. Neither is ineffective participation.
22. 22 Social Media: What’s Next TAKEAWAY #3 Social Media affects every insurance function and every function needs to play a role.
23. Social Media: What’s Next TAKEAWAY #4 Hit or miss experimentation is no substitute for a carefully-designed plan. 23
24. Social Media: What’s Next TAKEAWAY #5 Social Media is not to be feared or shunned. It is not a magic bullet, however it is an indispensable one. 24
26. 26 Where to Start? Join our Facebook discussion at Social-Media-Management-for-Insurance-Industry Follow our blog at www.thegoodrisk.com For information on our services, see wetzelandassociates.com Email us at twetzel@wetzelandassociates.com Phone: 708-524-4944 Cell: 708-577-8658