Social Media…Really?

by Larry Neilson 21. October 2010 06:33

It seems like social media is the boogie man of technological advancement to many insurance professionals. I talk to around 30 insurance professional everyday from whom I hear things like “why would I use Twitter”? “Facebook is something my kids use”, and “I don’t think my clients are using the internet to find us…they’re too sophisticated”.  The truth of the matter is most people are using search engines to find and, or verify information. If I receive a referral to a professional like an attorney or CPA the first place I go to verify that information is Google. If my initial questions about the firm are satisfactorily answered by the information available on their web site, or social network sites, then I will follow up accordingly. The point is that large account clients are checking you out on the web before they are calling you. If you don’t believe that, then ask them. Think about your own search habits as well because theirs are probably not much different.

Ok well what does that have to do with social media? Great question. Social media is the great complement to your web presence. It's a means to communicate with the masses and a great tool for insurance marketing. Karen Furtado of Strategy Meets Action (SMA) gave an excellent example in her recent interview with Annie George of Programbusiness.com Here is what she said…"Social media is playing a role in how we communicate. Agents and insurers need to provide notification to a large base, and social media is perfect for this. The Tennessee flood earlier this year is an example of how effective social media is in getting information out to as many people as possible in real time. An agent or carrier can send out a tweet on Twitter and provide a large number of people information about shelters, claims handling, etc. It's an excellent mass communication tool during emergencies, a great vehicle for push communication, and can serve as valuable resource for the community.”  This is only one example of how social media can be used as a tool for your business. If you don’t have an effective internet marketing strategy that includes social networking, you’re missing out on the biggest thing that’s happened in communications since Alexander Graham Bell invented the telephone.  I’d be interested in your comments.

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Comments (4) -

10/21/2010 8:58:40 AM #

Annie George

Larry, in speaking with Karen and others who are analyzing and researching what is being done in social media within our industry, there is no question that this is the "new normal"...that these various platforms have to be integrated into a company's marketing and communication mix. In an upcoming issue of ProgramBusiness.com's newsletter, we will be running an interview I had with Kimberly Harris-Ferrante of VP, Gartner, who said: "For each major shift that occurs, ask yourself will it be a disruption or an opportunity for your organization? And what will you do about it?"

Social media is one these major shifts that everyone in the insurance distribution chain has to seriously take a look at and bring into the marketing and customer service fold of their organization. Some of the major insurers are embracing social media as are pioneering agencies across the country. But many are sitting back, waiting...for various reasons, including security and accountability issues. At a webinar about technology advances that I participated in a couple of weeks ago with ACORD/LOMA, we discussed social media and the question about insurance regulation came up. There is a concern about being in violation of insurance law and facing increased E&O exposure. On the financial services side, FINRA has already addressed this. On the P/C side, the NAIC meet on the issue but still hasn't come out with definitive guidelines. But not having these guidelines isn't a reason to do nothing. You need to treat social media as any other form of business communication, be aware of what you're saying; have a policy in place for your employees, for your organization; and make a plan.

Annie George United States | Reply

10/21/2010 11:55:29 PM #

Larry Neilson

Thanks Annie as a result of Karen's article we are carefully reevaluating our own social network strategy. We are currently on Facebook, Twitter, and Linkedin for Neilson Marketing and again for Programbusiness. We also have a YouTube page for Peak Performance not to mention our personal pages. My goal is to organize ALL of our social media sites with a congruent social networking strategy that is fully integrated to our three web sites.

Larry Neilson United States | Reply

10/22/2010 10:18:17 AM #

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