The Social Media are Here.  Are You Ready?
    Gregory Group
                                                             ...
© 2010 Kip Gregory. All Rights Reserved.


 The following presentation was delivered at the LIMRA/LOMA 2010 Compliance and...
Seize the Moment


• Understand the business purpose

• Climb the learning curve

        The Gregory Group
• Demonstrate ...
3 Ways Social Networking Accelerates Selling Success


• Puts you in control of the referral process


• Improves your bra...
What Drives Sales?


• An agent/advisor’s best source of new business is…
   – Advertising
   – Cold calls
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What Drives Referrals?


• Most referrals and introductions start with…



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The Pipeline Paradox


• Referrals drive growth

• Asking feels awkward

        The Gregory Group
• Opportunities missed
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The Gregory Group



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Who do you 
                                           know…?



The Gregory Group



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Who do you 
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   © 2010, Kip Gregory—The Gregory Group. All Rights Reserved.   15
I wonder who 
                                            he knows…



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Networking Your Way to New Clients




    “I’ve put together a short list of folks I think you 
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The Gregory Group
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The Gregory Group



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The Gregory Group



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Improve Your Branding

  How easy is it for others to find the “you” that you want them to see?




         The Gregory G...
Improve Your Branding




       The Gregory Group



              © 2010, Kip Gregory—The Gregory Group. All Rights Rese...
Improve Your Branding




       The Gregory Group



              © 2010, Kip Gregory—The Gregory Group. All Rights Rese...
The Gregory Group



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Uncover Hidden Connections to Prospects




        The Gregory Group



              © 2010, Kip Gregory—The Gregory Gro...
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http://www.linkedin.com
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Gain Insight through People You Know




   “I just read an article about someone I think you’re 
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Develop Your Pipeline




        The Gregory Group
   Who owns—or runs—a company that employs 50 or 
    more people and ...
The Gregory Group



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Develop Your Pipeline


• Search criteria
   – Title: ceo OR owner (current)
   – Location: United States
        The Greg...
The Gregory Group



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The Gregory Group



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The Gregory Group



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The Gregory Group



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The Gregory Group



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Climb the Learning Curve




        The Gregory Group


           How do you get from here… to there?
               © 2...
Climb the Learning Curve




                                                                        Apply 
              ...
Climb the Learning Curve


1. Profile(s)
2. Network
3. Usage
4.
        The Gregory Group
     Knowledge
5. Benefit
6. Cre...
The Hierarchy of Social Media Issues




           Utilization                 Harnessing the power


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The Hierarchy of Social Media Issues




           Utilization                              Education


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Opportunity vs. Risk




        The Gregory Group



               © 2010, Kip Gregory—The Gregory Group. All Rights Res...
Opportunity vs. Risk




        The Gregory Group
     Is blocking access an effective deterrent…?




               © 2...
“financial advisor”


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“financial advisor”


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Presence on LinkedIn Today

      Firm                                                                      # of Profiles
...
7 Questions People Aren’t Asking—but Should Be


• Who among our agents already participate actively in 
  LinkedIn and ot...
7 Questions People Aren’t Asking—but Should Be


• How many people on our leadership team have a 
  profile on LinkedIn, F...
The Gregory Group



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The Gregory Group



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The Gregory Group



   © 2010, Kip Gregory—The Gregory Group. All Rights Reserved.   63
Ways The Gregory Group Can Help


• Facilitate dialogue

• Formulate and implement strategy

        The Gregory Group
• E...
To Learn More…


    Contact us:

            Kip Gregory

       The Gregory Group
            Principal, The Gregory Gro...
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Social Media in Life Insurance Recasting the Relationship between Compliance & Distribution (Kip Gregory)

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How and why social networking sites like LinkedIn represent a significant breakthrough in the way insurance agents manage relationships, identify business development opportunities, and control the referral process—and what corporate risk managers should be doing right now to support and lead their organizations on the compliant adoption of this new technology.

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Social Media in Life Insurance Recasting the Relationship between Compliance & Distribution (Kip Gregory)

  1. 1. The Social Media are Here.  Are You Ready? Gregory Group presented by Kip Gregory, Principal of The Gregory Group LIMRA/LOMA 2010 Compliance & Market Conduct Exchange March 25, 2010 Orlando, FL © 2010, Kip Gregory—The Gregory Group. All Rights Reserved. 2
  2. 2. © 2010 Kip Gregory. All Rights Reserved. The following presentation was delivered at the LIMRA/LOMA 2010 Compliance and  Market Conduct Exchange Conference in Orlando, FL.  Kip Gregory was one of four panelists to address an audience of compliance and risk  management professionals from across the insurance industry about the impact of  social media on traditional distribution of life insurance.  Kip’s remarks focused on how and why current social networking sites such as  The Gregory Group LinkedIn represent a significant breakthrough in the way insurance agents manage  relationships, identify business development opportunities, and control the referral  process—and what corporate risk managers should be doing right now to support and  lead their organizations on the compliant adoption of this new technology.  Please contact Kip at the phone number or email below with questions about this  material or to discuss how The Gregory Group can help your organization successfully  incorporate social networking into your existing distribution efforts.  Thank you.  (202) 364‐6913 kip@gregory‐group.com March 30, 2010 © 2010, Kip Gregory—The Gregory Group. All Rights Reserved. 3
  3. 3. Seize the Moment • Understand the business purpose • Climb the learning curve The Gregory Group • Demonstrate thought leadership • Support, don’t stifle  • Recast the compliance/distribution relationship © 2010, Kip Gregory—The Gregory Group. All Rights Reserved. 4
  4. 4. 3 Ways Social Networking Accelerates Selling Success • Puts you in control of the referral process • Improves your branding The Gregory Group • Helps uncover hidden connections to prospects © 2010, Kip Gregory—The Gregory Group. All Rights Reserved. 5
  5. 5. What Drives Sales? • An agent/advisor’s best source of new business is… – Advertising – Cold calls The Gregory Group – Direct mail – The Internet – Referrals – Seminars – Other © 2010, Kip Gregory—The Gregory Group. All Rights Reserved. 6
  6. 6. What Drives Referrals? • Most referrals and introductions start with… The Gregory Group © 2010, Kip Gregory—The Gregory Group. All Rights Reserved. 7
  7. 7. The Pipeline Paradox • Referrals drive growth • Asking feels awkward The Gregory Group • Opportunities missed • Business goes elsewhere © 2010, Kip Gregory—The Gregory Group. All Rights Reserved. 8
  8. 8. The Gregory Group 9
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  12. 12. Who do you  know…? The Gregory Group © 2010, Kip Gregory—The Gregory Group. All Rights Reserved. 13
  13. 13. Who do you  Hmm… who  DO I know? know…? The Gregory Group © 2010, Kip Gregory—The Gregory Group. All Rights Reserved. 14
  14. 14. The Gregory Group © 2010, Kip Gregory—The Gregory Group. All Rights Reserved. 15
  15. 15. I wonder who  he knows… The Gregory Group © 2010, Kip Gregory—The Gregory Group. All Rights Reserved. 16
  16. 16. X X X X The Gregory Group X X © 2010, Kip Gregory—The Gregory Group. All Rights Reserved. 17
  17. 17. Networking Your Way to New Clients “I’ve put together a short list of folks I think you  The Gregory Group know and wondered if you’d help me identify who  might be worth talking to first?” © 2010, Kip Gregory—The Gregory Group. All Rights Reserved. 18
  18. 18. The Gregory Group
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  22. 22. Improve Your Branding How easy is it for others to find the “you” that you want them to see? The Gregory Group kip gregory © 2010, Kip Gregory—The Gregory Group. All Rights Reserved. 23
  23. 23. Improve Your Branding The Gregory Group © 2010, Kip Gregory—The Gregory Group. All Rights Reserved. 24
  24. 24. Improve Your Branding The Gregory Group © 2010, Kip Gregory—The Gregory Group. All Rights Reserved. 25
  25. 25. The Gregory Group 26
  26. 26. Uncover Hidden Connections to Prospects The Gregory Group © 2010, Kip Gregory—The Gregory Group. All Rights Reserved. 27
  27. 27. The Gregory Group 28
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  33. 33. http://www.linkedin.com The Gregory Group 34
  34. 34. The Gregory Group 35
  35. 35. david cole orlando The Gregory Group 36
  36. 36. The Gregory Group 37
  37. 37. P ? The Gregory Group C 38
  38. 38. Gain Insight through People You Know “I just read an article about someone I think you’re  The Gregory Group acquainted with and wanted to get your advice on  the best way to approach them…” © 2010, Kip Gregory—The Gregory Group. All Rights Reserved. 39
  39. 39. Develop Your Pipeline The Gregory Group Who owns—or runs—a company that employs 50 or  more people and is within 25 miles of Orlando? © 2010, Kip Gregory—The Gregory Group. All Rights Reserved. 40
  40. 40. The Gregory Group 41
  41. 41. Develop Your Pipeline • Search criteria – Title: ceo OR owner (current) – Location: United States The Gregory Group – Postal Code: 32801 (Orlando, FL) – Within: 25 miles – Company Size: 51‐1000+ © 2010, Kip Gregory—The Gregory Group. All Rights Reserved. 42
  42. 42. The Gregory Group 43
  43. 43. The Gregory Group 44
  44. 44. The Gregory Group 45
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  46. 46. The Gregory Group 47
  47. 47. Climb the Learning Curve The Gregory Group How do you get from here… to there? © 2010, Kip Gregory—The Gregory Group. All Rights Reserved. 48
  48. 48. Climb the Learning Curve Apply  Knowledge Develop  The Gregory Group Become  Aware Skills How do you get from here… to there? © 2010, Kip Gregory—The Gregory Group. All Rights Reserved. 49
  49. 49. Climb the Learning Curve 1. Profile(s) 2. Network 3. Usage 4. The Gregory Group Knowledge 5. Benefit 6. Credibility 7. Leadership © 2010, Kip Gregory—The Gregory Group. All Rights Reserved. 50
  50. 50. The Hierarchy of Social Media Issues Utilization Harnessing the power The Gregory Group Supervision Managing the risk Regulation Defining the ground rules © 2010, Kip Gregory—The Gregory Group. All Rights Reserved. 51
  51. 51. The Hierarchy of Social Media Issues Utilization Education The Gregory Group Supervision Systems Regulation Rules Solutions require cross‐functional engagement © 2010, Kip Gregory—The Gregory Group. All Rights Reserved. 52
  52. 52. Opportunity vs. Risk The Gregory Group © 2010, Kip Gregory—The Gregory Group. All Rights Reserved. 53
  53. 53. Opportunity vs. Risk The Gregory Group Is blocking access an effective deterrent…? © 2010, Kip Gregory—The Gregory Group. All Rights Reserved. 54
  54. 54. “financial advisor” “merrill lynch” The Gregory Group 55
  55. 55. “financial advisor” “merrill lynch” The Gregory Group 56
  56. 56. The Gregory Group 57
  57. 57. Presence on LinkedIn Today Firm # of Profiles • Merrill Lynch 5,944 • Company A 6,785 The Gregory Group • Company B 3,877 • Company C 2,746 • Company D 1,571 All “financial advisors” and “agents” 108,367 © 2010, Kip Gregory—The Gregory Group. All Rights Reserved. 58
  58. 58. 7 Questions People Aren’t Asking—but Should Be • Who among our agents already participate actively in  LinkedIn and other sites? How are they benefitting? • How high a corporate priority is it for our organization  The Gregory Group to find a solution to the compliance oversight issues? • What areas of the company do we need to bring  together to formulate/refine a social media strategy? • How are other firms in financial services and other  industries dealing with the risk management issues?  © 2010, Kip Gregory—The Gregory Group. All Rights Reserved. 59
  59. 59. 7 Questions People Aren’t Asking—but Should Be • How many people on our leadership team have a  profile on LinkedIn, Facebook, or Twitter, use them  regularly, and understand how they work? The Gregory Group • What do we need to do as a company/department to  help our agents take (greater) advantage of social  media to support their selling efforts? • What’s the (opportunity) cost of doing nothing? © 2010, Kip Gregory—The Gregory Group. All Rights Reserved. 60
  60. 60. The Gregory Group 61
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  62. 62. The Gregory Group © 2010, Kip Gregory—The Gregory Group. All Rights Reserved. 63
  63. 63. Ways The Gregory Group Can Help • Facilitate dialogue • Formulate and implement strategy The Gregory Group • Educate and train • Coach and mentor • Design and deliver value‐added content © 2010, Kip Gregory—The Gregory Group. All Rights Reserved. 64
  64. 64. To Learn More… Contact us: Kip Gregory The Gregory Group Principal, The Gregory Group 4425 Warren St NW Washington, DC 20016 202‐364‐6913 kip@gregory‐group.com www.kipgregory.com © 2010, Kip Gregory—The Gregory Group. All Rights Reserved. 65

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