Social Media for Insurance: Time to Get Personal


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  • Brick & Mortar – Store Front SellingWholesale via Related IntermediariesIndependent Agents, Banks, Travel Agencies got involved in wholesaling insurance.Cost of sale is much higher, but wider reach with more human touch.Direct Sales via WebsitesCut out the middle man. Go direct to the client. Reduction in cost of sale.Low barriers to entry: Increased Competition – Comparison between products made simple.New strategy: Product Differentiation. Every company launched many types of insurance products (Gold, Silver, Platinum & Different Add-Ons like Winter Sports Cover, Volcanic Ash Cover) To make it difficult to compare.Comparison WebsitesMade comparison between websites simple. Fill in one form. Crawlers will do the job.Customers feel that they are choosing between many competitive products but still end up buying from the same company.Why is Social Media Presence important?Personalize your product to suit the client + Make client identify with your brand.Control of your biggest PR Channel. Any bad publicity is nipped in the butt.Ability to maintain brand presence on the channel that people access the most dailyIdentify your biggest advocatesGenerate critical marketing feedback
  • In a business that requires a high level of trust, the human touch is vital.Mascots help to establish the relationship with the client and to converse with them.Examples are:-
  • Personality CampaignGives a “face” to the brandCreates hype & buzzActs as salesperson on website
  • Launch of 2006. Very quiet until its subsequent TOTAL MEDIA STRATEGY in 2009 that raised the chatter and totally brought attention to the insurance industry to a whole new level.Loss of human touch is an issue. Trust is an important element when selling a personal & sensitive product like insurance. Done thru mascots in Social Media that converses with the end consumer.AleksandrOrlov (Russian: Александр Орлов) is a CGI fictional anthropomorphic Russian meerkat. He is portrayed as being of aristocratic stock, and the founder of The character is central to an advertising campaign on British commercial television for, a price comparison website. It launched in January 2009 and centres on his frustration that people keep coming to his website looking for car insurance, not meerkats, due to the similarity between the words 'Market' an
  • TV Ads. Youtube Channel (Showing extras like Bloopers)
  • On Social Media PlatformsToday, Aleksandr had more than 800,000 Facebook fans and 22,000 followers on Twitter, while on photo-sharing site Flickr there is a popular gallery ofAleksandr's family.Used to subtly collect info on customers and prospective customers on their preferred colour, lifestyle, buying behaviour, favourite holiday destinations.
  • Marketing of ComparetheMarket started to pay for itself.
  • Downloads: Wallpapers, ringtones, text alerts, voicemail messages, iPhone application containing an extensive database of English phrases in "meerkat“pronunciation, and a mongoose "detector".Cuddly Toys: 2011, any customer purchasing car, home or pet insurance receive one out of six meerkat characters including Aleksandr, Sergei...WIKIPEDIA: Went from 16th most visited insurance website in the UK in 2008 to 4th. Overall sales >doubled YoY as a result of the TV ‘meerkat campaign’.
  • Each with own TOTAL MEDIA STRATEGY.
  • Individual Agent PagesAllow direct contact with employees instead of interacting with a brand fan pageEncourage frequent interaction between agent & policyholderDirect enquiries to agent responsibleCentral Marketing Messages passed down from HQ.
  • Voting CampaignClick on FB app XXXSearch for policy/agentVote for favourite policy/agentEach user can vote up to 3 times
  • Pledge CampaignClick on Facebook app XXXFill in simple questions about selfFill in the blanks I pledge to ________Pledge is generated as an imageImage is shared on user’s wallView & Vote for other pledgesTop 10 pledges win prizes
  • Functional Mobile AppsTo aid users in daily lifeMay include ads or sales message at footer/header
  • Mobile AppsFor easy & convenient claimsFor viewing policy optionsFor health assessmentFor tracking purposes such as time, money, no. of claims etc
  • Interactive Educational AppsTopics such underinsurance gap, recommended policies etcFB App, Mobile App or Ipad App
  • Health Assessment AppsClick on FB app XXXAnswer simple demographic questionsAnswer simple lifestyle/habits questionsImage/Short report is generatedDownload/Share image/short reportCall to action (e.g. contact an agent!)
  • Interactive Educational AppsClick on Facebook app XXXAnswer a few short questionsImage is generated that has a product recommendation/link in itImage is shared on wall
  • Vote for Cause CampaignsUsers may choose from a list of pre-chosen causes OR campaign may be open to submission for causesUsers vote for causesEach share with a friend is an additional $X donationAt the end of campaign, $XXXX is donated to the cause with most votes
  • Donation CampaignClick on FB app XXXAble to view total donation countMake a pledge & share on wallVisit donation dropbox and take a picture at donation site Every photo submitted is $1 donation
  • Facebook Campaign Fan PageEngaging & educational status posts to raise awareness about the causeEncouraging & strong visualsThank you messages
  • 5 steps slideListenConverseBuild - youtube videosEngage (and build community) - idea generation - Campaigns - movementsMeasuring
  • Achieves higher number of fans than the core aviva page
  • Synergise, emotional, viral, social, insights
  • For all of you who have seized the happy hour prices before 7.30PM, good for you! If you havent, don’t worry, you can still get 10% off all food and drinks!
  • Social Media for Insurance: Time to Get Personal

    1. 1. PAGE1 Social Media for Insurance: Time to Get Personal 25 October 2012
    2. 2. PAGE2 SPEAKERS : LEON & JULIET 25 October 2012
    3. 3. The rise of the internet Competition & Re-intermediation Personalization & Personification The History of Technology & Insurance Retailing PAGE325 October 2012
    4. 4. PAGE4 Bringing back the Human Touch - Mascots 25 October 2012
    5. 5. Traditional Marketing Progressive Insurance “Flo, The Progressive Girl” PAGE525 October 2012
    6. 6. Case Study: • 2006: Launched • 2009: Total Media Strategy • Compare the Meerkat’s Alexandr Orlov • Russian Aristocratic Meerkat frustrated that people keep going to his website looking for car insurance, not Meerkats • Results (Wikipedia) • 16th to 4th most visited insurance website in 2010. • Overall sales >2x YoY PAGE625 October 2012
    7. 7. • Videos • TV Advertisements • Youtube Channel Case Study: PAGE725 October 2012
    8. 8. Case Study: PAGE825 October 2012
    9. 9. Case Study: PAGE925 October 2012
    10. 10. Case Study: PAGE1025 October 2012
    11. 11. Case Study: PAGE1125 October 2012
    12. 12. Case Study: • Book Launch • Highest Pre-Order Sales in 2010 • More expensive than Tony Blairs Memoirs • Rank #2 in Amazon UK in first week of sale
    13. 13. Case Study: 25 October 2012 PAGE 13
    14. 14. Successful Mascots / Personalities 25 October 2012 PAGE 14
    15. 15. PAGE15 Case Studies from USA, UK, Asia 25 October 2012
    16. 16. Agent Profiling State Farm Agents
    17. 17. Agent Profiling NTUC ULeague
    18. 18. Recognition AIA “Pledge for L.I.F.E.” Campaign
    19. 19. Education Great Eastern “21 Days” Mobile App
    20. 20. Utility Apps Allstate Insurance Mobile Apps
    21. 21. Product Recommendation AIA Protection Gap Calculator App PAGE2125 October 2012
    22. 22. Product Recommendation Great Eastern “Wellness Profiling LITE” FB App PAGE2225 October 2012
    23. 23. Product Recommendation ING Malaysia “Meet Your Future Self” FB App PAGE2325 October 2012
    24. 24. Corporate Social Responsibility State Farm Insurance “Cause an Effect” Campaign
    25. 25. Aviva India “The Great Wall” Book Donation Drive Corporate Social Responsibility
    26. 26. ING Malaysia “Spread the Smile” Movement Corporate Social Responsibility PAGE2625 October 2012
    27. 27. 17% of respondents in Singapore used social media in their insurance search process. However, the industry has failed to capitalise on use of Social Media.” – IBM (in a survey conducted in 2010)“
    28. 28. 5 steps to a holistic Social Media presence for Insurance Listening. Conversing. Building. Engaging. Measuring. PAGE2825 October 2012
    29. 29. #1: Listening… (inside) PAGE2925 October 2012
    30. 30. #1: Listening… (inside) Prepare a list of FAQs and standard answers Define a response protocol Define a process for handling crisis PAGE3025 October 2012
    31. 31. #1: Listening… (outside) Question on Travel Insurance Listening to Buzz, Trends and Sentiments Question on Health Insurance PAGE3125 October 2012
    32. 32. #2: Conversing… Focus on how to be social, not on how to do social.” - Jay Baer“
    33. 33. #2: Conversing… is NOT a one-way broadcast! NO ADVERTISING!
    34. 34. #2: Conversing… is about creative and interactive communications PAGE3425 October 2012
    35. 35. #2: Conversing… is about creative and interactive communications 8,564 LIKES & 3,226 SHARES 8,851 LIKES & 48,605 SHARES
    36. 36. #3: Building… (content) Engaging video content generates strong brand equity State Farm has about 22.5 Million video views and 7,000 subscribers
    37. 37. #3: Building… (content) Blogs provide educational content and SEO All State’s Community Blog boasts of about 600 blog posts
    38. 38. #3: Building… (content) With good photos, Pinterest can be a good traffic driver Petplan engages audiences with attractive photos and copywriting
    39. 39. #4: Engaging… Holistic Social Media strategy flows down to State Farm’s agents PAGE3925 October 2012
    40. 40. #4: Engaging… A pledge campaign by American Family Insurance to emotionally engage users to a “movement” or a “cause”.
    41. 41. #4: Engaging… Brand exercise from Farmers Insurance to tie their Airship to the Social Gaming experience in Farmville, exposing to over 60 million users
    42. 42. #4: Engaging… A different dimension of engagement #1 “26 seconds (BMOR than a statistic)” by State Farm
    43. 43. #4: Engaging… A different dimension of engagement #2 “Education Is Insurance” by Aviva
    44. 44. #5: Measuring…
    45. 45. #5: Measuring… Business Objectives Metrics (online/offline) Measure (customer journey) * Be aware of and consider external factors as well 1 2 3 PAGE4525 October 2012
    46. 46. In summary… Listen to your Customers & Prospects Converse Creatively & Interactively Build Content & Acquire Users Engage through Emotional Appeal Measure and Derive Actionable Insights PAGE4625 October 2012
    47. 47. PAGE47 Questions? 25 October 2012
    48. 48. o Buy SoLoMo Thursday Tickets @ 4 for $45.00 o Purchase at Reception. Cash Only. o Tickets are transferable. Bulk Buying Deal PAGE4825 October 2012
    49. 49. Arrive Early Next Session PAGE4925 October 2012 7:00 – 8:00 PM After 8:00 PM
    50. 50. DEAL: Dine in @ 10% OFF o 10% off non-promo F&B items on your next visit o Provide your name to redeem offer o Valid for single use, for one month (until next SoLoMo Thursday) 25 October 2012 PAGE50
    51. 51. Next SoLoMo Thursday (29 November 2012) Topic: Changing Trends: Consumer Behaviour on Mobile Speaker: Stewart Hunter (VP of Somo Global Limited) PAGE5125 October 2012
    52. 52. Questions? Powered by Thank You! PAGE5225 October 2012