Posts Tagged ‘Linkedin’

24th

Twelve months in the making, the new Professional Insurance Marketers Association Affinity 2020 Report came out last week.

Impressive. Thanks to all the volunteers, esp. Chris Burke and Dave Armstrong.

Hope to do a video on it shortly. Pretty compelling data around the urgency of transitioning to digital. Read the rest of this entry »

26th

OK, I haven’t used that line yet and I’ve been blogging for 7 years. Hey, everyone else uses it on me!…

Btw, “LinkedIn currently has more than 175 million members, with 50 million of those members joining the service in just the past year alone. To put that growth in perspective, in 2009, LinkedIn had just 32 million people.” – Mashable

I also read recently that the Social Web has reduced the classic “Six Degrees of Separation” to 4 (Can’t find the reference off-hand.)

My Linkedin Endorsements as of 10/26/12

My Linkedin Endorsements as of 10/26/12

  1. Credibility is a powerful under-current, perhaps even currency, of the new Social business model. Ratings are becoming critically important. Endorsements are yet another example of Rating systems.
  2. Clearly, Linkedin is trying to ramp-up the new Skills feature. It’s a great marketing strategy for Linkedin in terms of increasing the utility of the system. But IMHO it’s gumming up the system with a lot of notifications.
  3. It’s an interesting opportunity to see the alignment between how peers actually see you versus how you see yourself.
  4. As with anything that comes from the crowd, it needs to be managed. Some endorsements might not be optimal for a variety of reasons. Some might be specifically sought after, as with Recommendations. I recommend that it merits attention like anything else, but not hyper-focus.
  5. It’s yet another interesting and competitive data-point to the profile viewer, although must be taken in context and with a grain of salt.
  6. It’s yet another reason to make connections with, and nurture, your network on a persistent basis, just as with off-line activities time immemorial. The more Connections, especially strategic ones, the more potential Endorsements.
  7. Thank-you’s for Endorsements seem appropriate. As always, it’s an opportunity to engage with your network, though it’s a lot harder to say “Thanks for the Endorsement” than it is to simply click the Endorsement button. So with a large network and lots of Endorsements, that becomes problematic.
  8. As far as the ubiquitous quid-pro-qua concept, that’s something to consider as well. I’d be curious what others have to say on that one.

In fact, I’d be curious what others have to say on the whole thing. Please Comment. Thanks in advance.

(Side note: I’d be curious to know if insurance companies and agencies are updating their internal Social Tech policies to accommodate this new feature.)

This is a really good article on the feature. Good Comments there as well.

15th

Compelling Headline. I’ll get back to it at the end.

The PIMA 2012 Annual Meeting. On the surface, a big success. Solid numbers, lots of engagement, great feedback.

Some of my take-away’s:

Mary Jane Fortin, CEO of American General Life Companies:

Mary Jane Fortin - Challenges

Mary Jane Fortin - Challenges

Appreciate the Comments on Usability, Education, Consumer Experience, Plain Language, Japan as a model for consumer protection rates. Man do we have a LOT of work ahead of us if we want to take her challenge to heart. I know there are exceptions, but in general, as an industry, our Web sites are terrible, our communication with current and prospective policy holders is confusing, we don’t create nearly enough content, and so our penetration rates are extremely low by comparison.

Warren Hunter, Chairman of DMW:

Unintended but I heard someone put it, “raked several insurance brands over the coals” from a branding perspective. Heard a lot of people praise him for his content. Agreed on all fronts.

The Ignite sessions:

Lot of high praise from around the group. Great format, engaging content, good choices for speakers. Great work to Rick, Mark, Gerard, and Renee. <<See the pictures here>> Understand a video will be published soon. Especially liked Gerard and the importance of hygiene relative to lists. I’d be interested to know how many people have follow-up with him. Also liked Renee’s content around the ability to do contests and sweepstakes using Mobile – big opportunity for list building and cross-marketing. Again, interested to see how many people follow through and actually start doing something.

Kipp Bodnar:

So glad HubSpot came. Key points I liked..

Kipp Bodnar - Powerful Trends

Kipp Bodnar - Powerful Trends

Don’t rent your Web properties – OWN!
Blog’s are the cornerstone of your Social Strategy.
Microsites and landing pages are hubs.
Email marketing – still critically important, but will run its course eventually.
Sold Out the Limited Supply of B2B books – encouraging
Inbound Conference in August, possible Boston Social Tech Boot Camp in conjunction with that.

At the closing reception, I had a very interesting conversation with one of the executives about more collaboration within PIMA with an express goal of increasing the protection rates within the US. The comment was that association marketers are perfectly positioned if we will do a better job coordinating our efforts.

Those final words from one of my favorite people in the group spun in my head all day Sunday as I made my way home. So I made some notes on the plane:

Back to the headline

Are PIMA members working to solve industry problems, really, or are they being seduced by big money? Yes, with the utmost respect, they’ve been successful in the past and as a result, big dollars are flowing. But will the processes, tools, and strategies that “got them there” keep them there? Perhaps it’s more about Comfort Zones. But either way…

A few poignant questions, understanding there are exceptions, but from a macro view:

Is our Industry as a whole badly positioned for online reputation management, organizational voice, crowdsourcing, socially directed buying, and the protection and advancement of the industry which these leading business concepts will nurture?

1. Very few industry players seem to be communicating well online, both B2B and B2C. Products seem to be often designed, developed, deployed, and maintained with weak consumer insight. There seems to be very little strategic and thoughtful collaboration between manufacturers, distributors, and strategic marketing partners. Government regulators and internal legal and compliance teams seem to be hopelessly out of touch and uninformed about core societal trends and business issues. Understaffing, underpayment, and inexperience seem to be rampant. Perhaps as a result, but certainly at the same time, US consumer impressions and demand for protection are at record lows. Is our industry leadership woefully behind the times, both individually and corporately, and thus putting the industry at grave risk?

2. Going further, it seems that the majority of industry leaders are at kindergarten, grade school, or at best, high school levels of competency with respect to critically important technologies like mobile, tablet, laptop, and Web software such as browsers, analytics, cloud-based tools, not to mention Social Tech tools. And so their leadership is often whispered as “male, pale, and stale”. Their down-lines and corporate hierarchies seem to be prone to follow suit, ostensibly taking the path of least resistance, waiting for their turn at the top. All this seems to be resulting in paralyzed, deaf, and mute insurance organizations – culturally, operationally, and societally. Generally True or False?

3. Product development and maintenance seems to be silo’d and overrun with fiefdom’s, protectionism, and politics. Marketing machines seem to be entrenched with archaic strategies and tactics, led by executives whose inherent characteristics of creativity and risk-taking have been beaten out of them over time, and who are now without vibrant information streams that keep their fingers on the pulse of their environments. Compliance departments are over-the-top too influential and stunting, themselves not tapping new technologies to keep pace with critically important changes on the legal and regulatory front, certainly not writing, creating content, and seeking to influence and lead.

4. Lastly, our industry, seems to be in need of a deeper, more functional overhaul. Should the association extend its industry leadership, a stronger insurance industry voice with expanding influence, a content machine driving education, conversation and solutions?  Should the Web site, while continuing to be a hub for the logistics of the group meetings, etc., also grow to an insurance affinity network, media, and influence hub, possibly powerful enough to overcome any legal and regulatory threat, and helpful in growing the consumer demand for protection products?

IMHO, if we don’t urgently and immediately focus on these core issues in the next 18-24 months, we will look back and regret it. Yes, these are hard questions and strong statements, but I’d like to have these dialogs. But like the insurance exec alluded to, perhaps these are the questions that most urgently need attention so that we can grow our industry and see US protection rates like those of Japan, as an example.

A Helpful Step Towards a Solution?

Social Tech Boot Camp for Insurance Executives

I’ve put this together specifically to give insurance executives a small, private and safe place to grow their IQ with respect to Social. My understanding is fairly deep, both of Social and Insurance. The materials I have are spot-on Keynote slides. And my facilitation style in a small group is open, conversational, and yet passionate and instructional. See the comments and the video on the sub-page.

While not ALL the solution, certainly part of it. Crowdsourcing, Online Reputation Management, Organizational Voice, Rating Systems, Tools, Measurements, Compliance, Policies and Guidelines, Mobile, Information Streams, Consumer Intelligence, Game Dynamics, the Future – all items critically important to the future of insurance companies and agencies. What’s beyond Linkedin, Facebook, Twitter, Blogs, etc. (although Day 2 will be a 1/2-day session called You Incorporated – because executives need to know how to leverage the tools themselves ala Tony Hsieh, CEO of Zappos).

Thoughts? Comment below.

PS. As Ed mentioned in his closing remarks, remember the Give Back Tour, October 2012.

<<Link to the PDF overview>>

..

6th

I’m hopeful that the 150 or so attendees of the ICMG2012 Annual Meeting who also attended the Breakout on Social Tech will collaborate on a creative twist to a recap of the session. I know many of you are here simply to download the preso, but consider spending an extra cycle right here for the benefit of the group.

Your part: Please post a note in the Comment form below stating your one or two Top Take-Away’s from the Social Tech Breakout Session.

It could be anything. I’ll not review of the main points Jim McDaniel, Ken Smith, and I made, or the insightful and helpful questions throughout – really good stuff.

Rather, I’d like readers to hear what the attendees thought and, thereby, possibly develop an interesting mosaic of comments, reflections, and helpful ideas.

Please participate. Like Jim said, “Don’t Lurk!” Even if a previous Comment is on the same theme as yours, add your idea as a reinforcing or expanding sentiment.

Based on the subsequent conversations I had with people on the 18th tee of the golf course as well as the next morning, and with over 150 session attendees, this might be a VERY interesting and fruitful discussion.

Thanks in advance.

Presentation Download

PS. The Social Tech Boot Camp for Insurance Executives I’m hosting in March is filling up. A 2nd one is now in the works, possibly hosted by Nationwide, in Columbus, in May/June. I’ll likely do a 3rd in the Fall in Chicago or K.C. You’ll be glad you and/or your boss came – Crowdsourcing, Organizational Voice, Rating Systems, Online Reputation Management, Socially Facilitated Selling (see video), Socially Directed Buying, Tools, Measurement Systems, Rivers of Information – A LOT to cover in 9 hours straight. Get your spot – this isn’t an unlimited opportunity. (Private Boot Camps for your team are also available.)

Thanks again.

Mike

11th

I recently shared a breakfast at the home of a high-powered, very successful friend of mine. My good friend has a long track-record with a top accounting firm solving all kinds of financial-related business issues for a wide variety of Fortune 1000 companies. But my friend is an executive who is intentionally NOT engaging in any kind of Social Technologies.

Wise Road, Pompey, NY - Named after my Great-Great-Grandfather

Wise Road, Pompey, NY - Named after my Great-Great-Grandfather

Following the conversation on family and personal stuff, we turned to work. Knowing my pursuits, my friend shared thoughts about Social networking. After listening to his perspectives on Linkedin, Facebook, Twitter, YouTube, etc., I asked him, “I heard you refer to ‘Social’ in the midst of everything you were saying. Let me ask you a question. When you said ‘Social’, describe what you had in mind? What concepts did the word ‘Social’ bring to mind as you were talking about it?”

He said, “The noise, the clutter, non-important things… you know, Social.”

I clarified, “So water-cooler-type talk… weather, sports, family life, community – that kind of thing?”

“Yes, exactly. I just don’t have time for all that. Like I said, when I’m in work mode, I need to stay as focused as possible on work – no distractions. I see my wife and daughter spending a lot of time on Facebook, and frankly that concerns me. Now I know they might say I spend a lot of time watching TV or playing golf. But I can’t see myself spending my precious free time on Social networks. I hear people talking about Linkedin at work, but it doesn’t seem to be productive. I also know I’ll be asked to help people – not that I don’t want to help people, but if they want my help, all they have to do is call me. I see people using Social Networks to relive the past or trying to get the next new job. Since I don’t want to do either of those, I just don’t see a need to do Social networking.”

Does that sound familiar? The conversation went on from there. I explained that unfortunately, while understandable because of the traditional use of the term, thinking of ‘Social’ Technologies as ‘personal’ or ‘non-essential’, non-business related, etc. etc. is perhaps one of the biggest misnomers in the executive ranks.

[Curious: Do you agree? Are many executives under an incorrect assumption about ‘Social’ technologies as being more about personal, non-essential stuff? Especially in the insurance vertical?]

From a business perspective, Social is NOT ‘Social’. Think UGC – User-Generated Content and all the implications therein – “Crowd” solutions (e.g. Crowdsourcing, Crowdvertising, Crowdfunding), Ratings, Online Reputation Management, professional communities, Social CRM, Rivers of Information, Customer Intel, Revenue on Demand, e-Word-of-Mouth to name a few.

I made a case that in his position, at a bare minimum, he wants to consider what’s called Online Reputation Management. What do people find when they search for him?

Going further, he wants to be thinking about what’s next, what’s beyond the brand and title on his business card? No doubt about it – no matter how successful, both brand and title will inevitably change, won’t they? And when they do, perhaps quite suddenly, will he benefit from a steady effort to build a Social network? Will he correctly understand his Social relevancy in business? And will he be in a position for broader long-term business influence, again beyond his immediate circle with the current brand and its client base?

Lastly, like the MBA process he went through a few years back that lifted his IQ substantially in a short time-span, he wants to consider tapping into brilliant content creators, peers of his that are beyond the faceless Wall Street Journal writers, his preferred info-source. Sure, WSJ writers are no doubt great writers creating a steady stream of great stories. But what about peers of his who are sharing insights and creating dialogs via blogs and Social networks? Could these insights and conversations lift his IQ in a very meaningful and practical way – directly relating to his field?

What do you think? Are Social Technologies a ‘waste of time’? Do many executives in your experience feel that Social is purely Social?

Next up:

ICMG in Phoenix. #ICMG2012 (You heard it here first: I’m facilitating a 1.5 hour session on Linkedin on Wednesday morning before the Meeting starts. Yeah, I’d rather be playing golf as well, but I was asked, so what could I say.)

PIMA in Palm Coast, Florida. #PIMAAssn Rolling out the rebranding work Bill, Al, Shannon, Denise, Mona, Ed, me and a bunch of others have done in the past year…

Hope to see some of you there.

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