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

0

200

400

600

800

1000

1200

1400

1600

1800

2000

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.