AAMGA Power Point 3 5 12
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The document discusses various topics related to social media usage in the insurance industry. It notes that baby boomer social media usage has risen 20% in the last year. It also discusses the growth of smartphones and their projected sales numbers. Additionally, it outlines six threats facing the insurance industry, including a soft market, regulatory changes, and the rise of data demands. The rest of the document provides advice on effectively using social media for insurance companies, including both offensive and defensive strategies.
AAMGA Power Point 3 5 12
- 1. Thom as H. Wetzel &Associates, Inc. 1
- 2. Baby Boomer use rose 20% in last year now stands at 32% Majority of U. S. adults use social networks Thom as H. Wetzel &Associates, Inc. 2
- 3. THE GROWTH OF MOBILE Smartphone sales outstrips laptop and desktop sales in 2010 Projected smartphone sales in 2016 1.5 billion units Thom as H. Wetzel &Associates, Inc. 3
- 4. SIX THREATS FACING THE INSURANCE INDUSTRY SOFT MARKET/WEAK ECONOMY REGULATORY CHANGES THE VIRTUAL CONSUMER CARRIER/PRODUCER RELATIONS DATA/ERM DEMANDS TECH AS A GAME CHANGER Thom as H. Wetzel &Associates, Inc. 4
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- 9. THEY WANT TO BE FOUND ! ADD TO THE PURELY TRANSACTIONAL RELATIONSHIP, MAKE IT DEEPER TOP-OF MIND VISIBILITY JUST-IN-TIME ACCESSIBILITY Thom as H. Wetzel &Associates, Inc. 9
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- 11. Flip scarcity with abundance and everything changes. Seth Godin Thom as H. Wetzel &Associates, Inc. 11
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- 13. SOCIAL MEDIA IS: Productive Cost-Efficient Risk-Averse Thom as H. Wetzel &Associates, Inc. 13
- 14. Provided You Do It Right Do Not Take Half-Measures Thom as H. Wetzel &Associates, Inc. 14
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- 16. Playing Offense AND Defense -- At the Same Time Thom as H. Wetzel &Associates, Inc. 16
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- 18. On Offense Promote your brand Generate leads Strengthen customer relationships Build communities around customer needs Develop advocates Tell the insurance story Listen, learn and engage Thom as H. Wetzel &Associates, Inc. 18
- 19. It Does Not Mean: Just setting up a Facebook page Treating social media as just another corporate mouthpiece Buttonholing social media in the marketing department it must be an enterprise function Thom as H. Wetzel &Associates, Inc. 19
- 20. It Does Mean: Listening, not lecturing Creating your own demand Building communities around core competencies Encouraging social sharing Using data effectively Thom as H. Wetzel &Associates, Inc. 20
- 21. On Defense Defend your brand Know how to respond to criticism and turn it your advantage Build legal protections Create risk management plan Thom as H. Wetzel &Associates, Inc. 21
- 22. It Does Not Mean: Blocking all employee access Tuning out the complainers Waiting for the first compliance violation to take action Putting it on the backburner until business improves Thom as H. Wetzel &Associates, Inc. 22
- 23. It Does Mean: Creating a strategy and plan for formal participation Educating and guiding users Establishing usage guidelines and enforcing them Managing your social media profile Thom as H. Wetzel &Associates, Inc. 23
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- 25. Social Media Is Not Just About Communications Thom as H. Wetzel &Associates, Inc. 25
- 26. Its Also About the Data Thom as H. Wetzel &Associates, Inc. 26
- 27. Entering the era of Web 3.0 Using the data effectively and safely Monitoring with blinders More than checking your own sites Use two or more services and variety of metrics Know what your competitors, producers and buyers are doing Thom as H. Wetzel &Associates, Inc. 27
- 28. Regulatory Red Flags Insurance departments now monitoring social media activity Concerned about absence of research protocols Advertising Testimonials and Endorsements Consumer Privacy Record Retention Agent Monitoring (or lack of it) Thom as H. Wetzel &Associates, Inc. 28
- 29. Legal Issues Thom as H. Wetzel &Associates, Inc. 29
- 30. Case law is evolving Many areas of law affected: employment, contracts, intellectual property, privacy, data security # 1 concern online terms and conditions Four must-haves: policy, guidelines, monitoring, training Thom as H. Wetzel &Associates, Inc. 30
- 31. The Cost/Benefit Equation Use existing staff to start not just a twenty- something in a cubicle Create support system Phased-in implementation Use roadmap to avoid missteps Recalibrate marketing investment Minimize compliance, litigation costs Measuring performance Thom as H. Wetzel &Associates, Inc. 31
- 32. Whats New in 2012 Specify ROI (soft and hard) Growing regulatory scrutiny Commercial lines apps acceleration Widespread carrier-agent cooperation Mobile Internet explosion (content and apps) Thom as H. Wetzel &Associates, Inc. 32
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- 37. Follow our blog at www.thegoodrisk.com Join our Facebook discussion at Social-Media-Management-for-Insurance-Industry For information on our services, see wetzelandassociates.com Social Media Management Program Short-term Consults Insurer Profiles Employee, Producer Training Email us at twetzel@wetzelandassociates.com Phone: 708-524-4944 Cell: 708-577-8658 Thom as H. Wetzel &Associates, Inc. 37
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