Post on 10-May-2015
Social Media:
What’s the opportunity for the insurance market?
@MarkMuir
24/14/2010
Social media on a beer mat The elevator pitch
…it’s a vast network of
conversations, between real
people, in real time.
Sharing information, images,
videos and links over a
variety of platforms.
CLICK ME
34/14/2010
Social media on a beer mat The elevator pitch
…it’s a vast network of
conversations, between real
people, in real time.
Sharing information, images,
videos and links over a
variety of platforms.
Social media marketing is about:• Joining the conversation
• Creating a buzz • Encouraging advocacy
CLICK ME
44/14/2010
Social is being taken seriously by the big opinion leaders in our industry
“This is just the beginning of an exciting new era of global interconnectedness that will spread ideas and innovations around the world faster than ever before.” The Economist
“Gradually, social computing will impact almost every role, at every kind of company, in all parts of the world.” Forresters
“Twitter just for teenagers? Facebook only for fools? No, we have to embrace new opportunities to meet customer expectations” Insurance Times
54/14/2010
Social is being taken seriously by the big opinion leaders in our industry
Source: Neilson
64/14/2010
The term ‘Social’ covers a variety of platforms… these are some of the major areas
Networks – People linking to people, sharing content within their personal (closed ) network
Facebook, LinkedIn
Micro Blogging – Publishing public updates and musings in brief, bite size, ‘news flashes’
Twitter, Tumblr
Blogs – Personal publishing sites to share opinions and updates (often on a specific subject)
Blogger, Wordpress
Bookmarking – Collates popular links and web content, storing them in topic areas
Digg, delicious
Photo/Video sharing – Allows users to publish their own content
Flickr, Youtube
Knowledge sharing – Users can publish informative content to be shared
Wikipedia, Slideshare
Forums / Review centres – Location for users discuss specific topics
Money Saving expert, Trip advisor
74/14/2010
The uptake of Social networking is vastand it is not just by the younger generations
…of Facebook users logon everyday, meaning there at least 175m users are
online every day.50%
…number of registered twitter accounts. However, only 15m are active on a
regular basis.75m
…registered LinkedIn users, worldwide.50m
…registered Facebook users worldwide. That’s a 40% increase in 6 months.350m
…images now hosted on the photo sharing site, Flickr.4bn
…Articles currently published on Wikipedia. Written by their 85,000
contributors.14m
84/14/2010
The uptake of Social networking is vastand it is not just by the younger generations
…of Facebook users logon everyday, meaning there at least 175m users are
online every day.50%
…number of registered twitter accounts. However, only 15m are active on a
regular basis.75m
…registered LinkedIn users, worldwide.50m
…registered Facebook users worldwide. That’s a 40% increase in 6 months.350m
…images now hosted on the photo sharing site, Flickr.4bn
…Articles currently published on Wikipedia. Written by their 85,000
contributors.14m
94/14/2010
Why should we get involved with social?
Look like we “get it”, demonstrating we are an innovative brand
Take your message directly to consumers, instantly
Increase search engine ranking and gain SEO presence/value
Generate additional site traffic, naturally expanding network
Brand recognition and increase purchase consideration
Own brand’s social space and monitor brand mentions
104/14/2010
What are the various social space good for?
114/14/2010
What are the various social space good for?
124/14/2010
5 things to consider before you go near social
What do we need to achieve?
Which audiences are important to achieve this?
Where are those audiences online – which platforms
are they using?
Do those platforms/ tools fit with the kind of content we have or can create?
Can we sustain what we start?
134/14/2010
• Speak to people in their chosen communication channel- Timely, useful, responsive, helpful, multi-channelled
• People are talking about the brand, whether we get involved or not- Monitor our social reputation, encourage advocates, defend brand and
promote discussion
• We can generate extra reach for campaigns and extend brand impact- Sharing creative, online spin-off/parodies, best medium for bringing brand
personalities to life
• Listening to customers who want to be heard, when they need us- Empowers them, valuing them, truly delivering on CVP
What should Social mean for us?
Consumer understanding
Two-wayCommunication
Speed to marketCustomer-centric products
Personalisation Service
144/14/2010
What should Social mean for us?
Consumer understanding
Two-wayCommunication
Speed to marketCustomer-centric products
Personalisation Service
We need to join a conversation
that is already happening.The challenge, like in the pub, is
to join the conversation with something
MEANINGFUL to say.
154/14/2010
Generating the right hype can make social media a very powerful tool.Some example from other industries
Marmite election blog http://www.marmitenewsnetwork.com
Zappo employee tweets http://twitter.zappos.com
Pepsi Refresh campaign http://www.refresheverything.com
Blendtec: Will it blend
http://www.blendtec.com/willitblend/
Asda Mum’s network http://asdamums.asda.com
Dominoes’ bounty hunt http://www.pizzaholdouts.com
BP spoof PR account
http://twitter.com/BPGlobalPR
164/14/2010
Most insurers are doing something in the social space
SwiftCover Blog http://www.swiftlydoesit.com
Direct Line TeaEmergency campaign http://www.teamergency.com/
Churchill on Facebook – Character development
http://www.facebook.com/thechurchilldog
Confused Blog hub http://confusedcom.typepad.com/
SwiftCover Youtube channel http://www.youtube.com/user/swiftcover
Moreth>n About us http://www.morethan.com/Pages/AboutUs/AboutUs.aspx
LV=‘s Online community
http://community.lv.com/
LV= Cricket game http://superspin.lv.com
174/14/2010
Most of our competitors have a social presence
InsurerOnsite Media
centreBookmarking /
RSSTwitter profile
Facebook page
Youtube channel
Wikipedia External Blog iPhone LinkedIn
Zurich Connect
Churchill ()3 followers
2,800 fans
Direct Line () ()Comp trial
MoreTh>n
Aviva
149 followers
800 fans
Swiftcover
485 followers
()
184/14/2010
It’s possible to track every brand mention and to measure the impact of social activity
• There are some simple, and free ways to track a brand mentions and social impact- Any brand mentions can be sent directly to your inbox with GOOGLE ALERTS- Links can be tracked to see how many people respond to content you have published- All the social spaces allow us to count how many people have linked to our profiles
• We can go one step further and measure the sentiment of brand mentions- Using software we can measure all brand mentions and gauge whether they are positive or
negative
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Zurich Connect
Directline Esure MoreThan Zurich Connect
Directline Esure MoreThan Zurich Connect
Directline Esure MoreThan
Overall Engagement Scores
Awareness Affinity Advocacy
194/14/2010
What the Social road map could look like
Business cards
Wikipedia,
Facebook,
LinkedIn, Youtube,
Media centre
Joining the dots
‘Follow us’ links.
Content strategy
Internal PR
Brand all rounder
Community Blog.
Meet the experts.
Employee
superstars
Light the fire
Social campaign
Promoting brand
advocates
• Continue to develop destination in social spaces, ensure they are joined up and that we have the resource in place
• Once the social infrastructure has been built, we should start promoting Social as part of our communication strategy
• Then look at ways we can encourage advocacy and further develop our social network
204/14/2010
I asked a leading ‘social’ insurer about their experiences State Farm - The largest Motor insurer in the US
214/14/2010
I asked a leading ‘social’ insurer about their experiences State Farm - The largest Motor insurer in the US
Social media is simplyanother communicationchannel……what makes it powerful is
that it offers the first chancefor participation.