Social Media For Sales In The Insurance Industry

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A presentation, developed by Roop & Co. marketing communcations, that explains how social media can support sales in the insurance industry. It includes statistical data, examples, and quick tips for …

A presentation, developed by Roop & Co. marketing communcations, that explains how social media can support sales in the insurance industry. It includes statistical data, examples, and quick tips for getting started.

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  • 1. Monday • March 29 • 2010 Leveraging Social Media to Support Sales in the Insurance Industry PRESENTED BY: Brad W. Kostka Senior Vice President Kelly M. McGlumphy Account Supervisor
  • 2. Overview What is Social Media? How Social Media Supports Sales Making the Case Getting Started
  • 3. What is Social Media? Internet- and mobile-based tools for sharing and discussing information A category of sites based on user participation and user-generated content • Social networking sites like LinkedIn or Facebook • Social bookmarking sites like Del.icio.us • Social news sites like Digg or Reddit • Other sites centered on user interaction
  • 4. How Social Media Supports Sales 1. Build/maintain relationships 2. Broadens network 3. Compliments current sales efforts 4. Engages customers/prospects 5. Provides insight on customers/prospects 6. Social media = social networking
  • 5. How Social Media Supports Sales Engaging potential customers
  • 6. Your Customers Are Utilizing Social Networks More than 65% of business professionals use social networks • This number is growing In 2009, use of Facebook and Twitter outpaced all other social network usage in the U.S. (Nielsen Wire, 2010) 65+% • Facebook increased by 200% • Twitter increased by 368% 79% of Fortune 100 companies use Twitter, Facebook, YouTube and corporate blogs
  • 7. Your Customers Are Utilizing Social Networks More than 65% of business professionals use social networks • This number is growing In 2009, use of Facebook and Twitter outpaced all other social network usage in the U.S. (Nielsen Wire, 2010) • Facebook increased by 200% • Twitter increased by 368% 79% of Fortune 100 companies use Twitter, Facebook, YouTube and corporate blogs
  • 8. Your Customers Are Utilizing Social Networks More than 65% of business professionals use social networks • This number is growing In 2009, use of Facebook and Twitter outpaced all other social network usage in the U.S. (Nielsen Wire, 2010) • Facebook increased by 200% • Twitter increased by 368% 79% of Fortune 100 companies use Twitter, Facebook, YouTube and corporate blogs
  • 9. Your Customers Are Utilizing Social Networks More than 65% of business professionals use social networks • This number is growing In 2009, use of Facebook and Twitter outpaced all other social network usage in the U.S. (Nielsen Wire, 2010) • Facebook increased by 200% • Twitter increased by 368% 79% of Fortune 100 companies 79% use Twitter, Facebook, YouTube and corporate blogs
  • 10. Your Customers Are Utilizing Social Networks – For Referrals Professionals have always used third-party assessments to make business decisions • now they are turning to social media Those who follow a brand are more likely to buy products and services and recommend them to a friend • (Chadwick, Martin & Bailey, 2010) 67% 79% 67% more likely to 79% more likely to buy a brand they recommend a brand they follow on Twitter follow on Twitter
  • 11. Your Customers Expect Your Participation 93% of Americans believe a company should have a presence on social media sites • Cone Business in Social Media Study, 2009 85% believe these companies should use these services to interact with consumers • Cone Business in Social Media Study, 2009
  • 12. Social Media and Insurance Industry According to Deliotte, insurance firms that are successful will master technology and social media to interact better with customers • Necessary to do this in order to compete and standout Insurance companies began using social media as early as 2007
  • 13. Social Media and the Insurance Industry Reasons why the insurance industry needs to embrace social media: • Huge workforce • A demanding client base of various ages, financial background • Dependence on paper and people • Operational areas working in silos • A constant need to liaise with various partners • A large variety and amount of information to share with its internal and external constituents
  • 14. Getting Started 1 Build 3 Participate 2 Listen
  • 15. Build 1 2 3 Who Who do Where Where What What I want are they are my to reach? online? resources?
  • 16. Build 1 2 3 Who Who do Where Where What What I want are they are my to reach? online? resources?
  • 17. Build
  • 18. Build 1 2 3 Who Who do Where Where What What I want are they are my to reach? online? resources?
  • 19. Listen Industry news/trends • Trade news • RSS feeds • Google alerts Your own network • Your friends and followers in the industry • Industry thought leaders
  • 20. Participate Add value • Consult, educate, help • Provide useful content that will be shared • Create discussions Build relationships • Be honest, trusted • Engage in conversations Be interesting • Show passion • Have an opinion
  • 21. Participate – Drive Conversation
  • 22. Participate Create a process/schedule Aim for real, in-person interaction Don’t be “that guy”
  • 23. Contact Brad Kostka Kelly McGlumphy bkostka@roopco.com kmcglumphy@roopco.com PHONE 216.902.3800 WEB www.roopco.com FACEBOOK www.facebook.com/roopco TWITTER www.twitter.com/roopco