Consultants' Corner

The Social Media Trend for 2012 – the End of Social Media Groups?

Terry Golesworthy
Insurance Experts' Forum, January 4, 2012

At the beginning of each year, commentators insist upon predicting the outcomes of the upcoming year, so why not me.

Two trends stand out: First, agents will undoubtedly use social media more to reach consumers, and second, industry executives will demand more measurement, metrics and proof of success. The biggest trend, however, might be a move to end social media as a discipline. Social media is a communication tool not unlike e-mail or even the mobile phone – the rationale for using any tool is to bring value to the core business of the organization.

Marketing departments in carriers now see social media is a key channel to reach consumers. Facebook is big – they get it! Is it now wise to leave this channel in the hands of a small, unconnected team to run separate programs and campaigns blissfully unaware of company strategy? All those internal presentation about social media worked, thank you and goodbye.

The fact that social media is not a traditional channel intrigues marketers; it adds a new dimension to campaigns – interactivity. Campaigns can reach out and engage with consumers, even being able to extend the campaign to people never targeted in the original plan – the viral effect. Even the rap for social media – how do you measure it – actually is a strength. Social media with engagement gathers valuable information about how much consumers like, are prepared to share, or even hate messages and products. Sure, you still cannot measure ROI, but marketing folks are much better at deflecting that question, unlike their social media counterparts.

Looking at recent examples, Esurance is running ads highlighting trust, and as proof, they feature the company’s Facebook page and customer comments. MassMutual created a series of videos promoting life insurance but selected Facebook and YouTube to host, thereby leveraging brand ambassadors to spread the message.

So is the role of the social media strategist and community manager under fire? Are these the shortest careers ever created?

Not entirely, the range and potential for social media is too broad to restrict it to marketing. Customers are starting to communicate with insurers through social media, journalists and bloggers now use social media to follow news, HR is able to find and research job candidates. Agents see social dialogue as a valuable sales process and even underwriters and claims see value with juicy additional personal information.

Social media has a role to play in every department; companies need social strategists to ensure it is not limited to a single role and free to reach across traditional internal boundaries.

This blog was posted with the permission of the Customer Respect Group.

Terry Golesworthy, president of The Customer Respect Group, has covered technology issues and innovations in the insurance industry for many years.

Readers are encouraged to respond to Terry using the “Add Your Comments” box below. He also can be reached at terry@customerrespect.com.

The opinions of bloggers on www.insurancenetworking.com do not necessarily reflect those of Insurance Networking News.

Comments (0)

Be the first to comment on this post using the section below.

Add Your Comments...

Already Registered?

If you have already registered to Insurance Networking News, please use the form below to login. When completed you will immeditely be directed to post a comment.

Forgot your password?

Not Registered?

You must be registered to post a comment. Click here to register.

Blog Archive

The Software-Defined Health Insurer: Radical But Realistic?

Can a tech startup digitally assemble the pieces of a comprehensive, employer-provided health plan?

Data Governance in Insurance Carriers

As the insurance industry moves into a more data-centric world, data governance becomes more critical for ensuring the data is consistent, reliable and usable for analysis.

Fear This

Just days before this Issue, which contains our security cover story, went to press, we got some interesting news: 1.2 billion unique usernames and passwords and 542 million email addresses were reportedly stolen from 420,000 websites, according to The New York Times. The websites ranged from Fortune 500 companies down to small online retailers.

Should You Back Up Enterprise Data to the Cloud?

Six questions that need to be asked before signing on with an outside service.

Modernizing Information Management

While better reporting and actuarial analysis help to support financial decisions, improved analytics and decision making greatly assist the rest of the organization.

Strategic Planning: Here and Now

Insurers’ annual strategic planning efforts can benefit from an infusion of tactical reality.

Advertisement

Advertisement