social media and the future of agency distribution by chris andrew
DESCRIPTION
This is a copy of the Presentation given by Chris Andrew from the Hearsay at the LIMRA Conference held in Singapore on 6-7th November 2014TRANSCRIPT
SOCIAL MEDIA AND THE FUTURE OF AGENCY
DISTRIBUTION
Chris Andrew MD, Hearsay Social
@chriswandrew
TODAY’S AGENDA
Overview 1
What Social Networking Changed 2
The Social Agent 3
4 Content Strategies for 2014
G R O W B U S I N E S S O N S O C I A L |
95,000+ Users
SOLID FOUNDATION BUSINESS GROWTH & EXPANSION
$51M Funding
150+ Employees
90%+ YoY Revenue Growth
COMMITTED TO FINANCIAL SERVICES CONTINUED INNOVATION & INDUSTRY LEADER
Content Partners
Global Expansion
Leader in Forrester Wave™: Social Risk and Compliance Solutions, Q2 2014
Industry Associations
Archiving Partners
Recognized as AlwaysOn 2014 OnDemand 100 Top Private Companies
96%+ Annual Renewal Rate
Y O U R T R U S T E D PA RT N E R F O R S O C I A L B U S I N E S S
3
G R O W B U S I N E S S O N S O C I A L |
5 7 10 of Customers in Asia (Thailand, Indonesia,
Malaysia, Hong Kong, Japan) Top US insurance companies
THE INDUSTRY STANDARD FOR SOCIAL BUSINESS
SOCIAL MEDIA HAS CHANGED WHAT PEOPLE EXPECT FROM BUSINESSES
Online sources influence offline purchases
Ability to communicate on their terms
Professional, Digital & Modern
Not Just Millennials – Everyone is on Social Networking Sites
72% of online adults use
social networking sites
of online adults 50–64 years old are on social
networking sites
60%
Preferred Purchase Method+
All Households Gen Y Gen X Baby
Boomers Silent Gen
Face-to-face with a financial professional 58% 54% 54% 58% 68%
At my or my spouse or partner’s place of work 19% 22% 21% 20% 7%
Through the Internet 16% 20% 19% 14% 13%
Direct by mail or telephone
7% 4% 6% 8% 12%
*LIMRA 2010 U.S. Life Ownership Study
PREFERRED PURCHASE METHOD ACROSS GENERATIONS IS STILL FACE-TO-FACE
61% of financial advisors surveyed said they had
landed a new client directly from social media
*2011 HubSpot survey of 611 financial advisors
Online signals can lead to offline conversations
OF
THE SOCIAL AGENT
THE RELATIONSHIP MANAGER’S PLAYBOOK FOR THE SOCIAL ERA
Just like the Yellow Pages, being listed isn’t enough. We must teach producers how to grow business on social.
BE FINDABLE 1
2
GROW YOUR NETWORK
3
“HEAR” DO YOUR RESEARCH
4
“SAY” ESTABLISH CREDIBILITY
OF
CONTENT TRENDS IN 2014
WHY DO WE BUILD CONTENT?
1. As can demonstrate thought-leadership via social media
2. Encourage engagement with clients – reason to reach out to the advisors
3. Manage communications shared by the organization
4. Build your brand, evangelize key initiatives How do we do this? Create content that…. Has your audience in mind Connects people on interests, not products Maximizes relationships and connections Is unique and authentic Fresh and exciting to your advisors
Build relationships first, do business second.
70/20/10
70% of content should be maximizing relationships and connecting on issues that interest your audience.
20% of content should be about the industry and best practices for your customers.
10% of content should be about company promotions, products and advertisement.
MAXIMIZE AUDIENCE INTERESTS
Parenting & Family
Foundation (causes) Sports College
Savings
Holiday Photo Themes
Community Events
Just for Fun
Products Industry News
Agent Spotlight
Client Spotlight
Audience Interests
Company Interests
BUCKET YOUR DEMOGRAPHICS
