The Customer Respect Group has worked with companies for more than 15 years to optimize digital properties and messages and in social media for more than 9 years. Sales cycles are now customer journeys and reputations enhanced or destroyed by the online experience.

Social Media in the Insurance Industry

What Role does Social Media Play in the Insurance Industry?

At one time, over 100 million people were ‘fans’ of insurance companies on Facebook. Expectations for social media were high, too high 

Now, it is not uncommon or unreasonable for senior executives to ask questions about the value, return, and role for social media. It is also prudent to ask:

  • What the content strategy and who’s the audience?
  • How can insurers best support local agents on social media and for what benefit to a carrier?
  • Is it realistic to expect visual platforms such as Instagram to help insurers reach millennials?
  • What are other insurers doing with social media, are we better or worse and are we at a competitive disadvantage?
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Social Media Audits

What Role does Social Media Play in the Insurance Industry?

Social Media has evolved and is dramatically different than during its heyday between 2010 and 2014 but at its core, it remains fundamentally the same, it is an effective influencer channel. With vanity metrics such as follower count now largely irrelevant and even engagement largely a factor of paid reach, how do you judge the effectiveness of a social program?

Social media marketing works best when you flip the traditional sales and marketing funnel upside down and view it as an influencer and advocacy channel. Start not with big databases of prospects but with smaller groups that already understand and appreciate your value. These people can amplify your message through their own social networks with their own stamp of approval.

So what content best takes advantage of this, who are the advocates and who is most effective?

Insurers compete for a share of mind on multiple fronts; with customers, agents, partners, and employees. All of these groups of people can be valuable advocates but they respond to different content in different ways and on different platforms.

Carriers often share advocates with other carriers in the case of independent agencies and there is a high degree of content overlap.

Insurers need to stand out in a crowded social media field. But how much should be spent? Content development without reach is expensive and ineffective but so is poor content with strong initial reach.

A social media audit looks at all aspects of the social communications competitive space. Not forgotten is the role of internal advocates – employees. How much they are engaged and with what content and messages.

Social Media Audits are based by default on Facebook – but other social platforms are available.

How is Your Social Media Performing? (Blog Post)

 

Competitive Social Audit

  • Six (or more/less – your choice) organizations 
  • Minimum of 3 months of social media activity
  • Report on Content Blend for each organization structured into 19 categories and 81 sub-categories. 
  • Audience Profile(s) for each organization 
  • A comprehensive social media report for each organization and industry trends
  • Recommendations based on business goals and competitive space

Deliverables

  • Report – Slide format or Document in editable format.
    • Executive Summary
    • Comprehensive Report on each company
  • Access to all Facebook posts via clickable links
  • Every post categorized into 19 categories and 81 sub-categories
  • Engagement metrics for each organization, category, subcategory and post format
  • Post Format Blend (Video, image, text)
  • Teleconference presentation

Cost

  • From $7,500

l

COMpany Social Audit

  • Review of your organization’s social media strategy ans content
  • Minimum of 3 months of social media activity analyzed 
  • Content Blend and engagement report structured into 19 categories and 81 sub-categories. 
  • A comprehensive report in the context of similar organizations and industry trends.
  •  Audience engagement analysis
  • Recommendations based on business goals within an industry perspective

Deliverables

  • Report – Slide format or Document in editable format.
    • Executive Summary
    • Comprehensive Report
  • Access to all Facebook posts via clickable links
  • Every post categorized into 19 categories and 81 sub-categories
  • Engagement metrics for category, subcategory and post format
  • Post Format Blend (Video, image, text)
  • Teleconference presentation

Cost

  • From $2,500

About The Customer Respect Group

The Customer Respect Group, based in Massachusetts has been a trusted source of online benchmark data and strategic insight since 2003. While much of our work is in financial services, we have worked with companies from a variety of industries including telecommunications, education, government, and retail. Among our clients, we include MetLife, Verizon, Thrivent Financial, Mutual of Omaha and US Bank.

Our social media publication,  SocialEyes,  has been distributed to over 400 organizations. As part of the publication’s mantra, we have reviewed the social media activities and strategies for more than 400 insurance companies over 9 years. While the most practical aspects of social media have changed, the fundamentals are the same. It is fair to say that we have seen and reviewed thousands of social media initiatives and probably seen every technique, campaign, and initiative. Our ability to conduct Social Media Audit is unrivaled.

Our mission has always been to identify inconsistencies between the corporate online presence and customer expectations.

Contact Us

(978) 412 0019

social @ CustomerRespect.com

P.O. Box 1546, Newburyport MA 01950

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