Posts Tagged ‘social media’

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

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

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>>

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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

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.

ICMG, an insurance industry association I’ve been involved in since 2004 (thanks to John Kertis), asked me to write up a little something about Linkedin that might be helpful to the membership, and by extension, the organization. (These Comments also seem to be relevant to any industry association, Linkedin Group, and/or professional.)

Fall 2011 on Clairhaven

Frequently I’ve heard and seen the following Comments about Linkedin and Social Technologies….

“I don’t really know that much about it. I’m accepting connection requests, but that’s about it. Who has the time for all that anyway…”

“I’ve joined a couple industry groups, but to be candid, I’m not really participating. I’m barely keeping up with regular email, let alone social networking…”

“I’ve got a profile in there, but I can’t remember my password…”

“I really don’t get the whole Social Networking thing. When I need to speak with someone, I just pick up the phone and call them. If they’re interested, they’ll call me back…”

“I doubt people ever search for me online. Why would they do that, anyway?”

“Social networking is for people that sell to individuals, not businesses. Insurance AGENTS should be using that stuff, but not me. I sell to company executives and they don’t use Linkedin and all that…”

“It’s impossible to keep up with all that Social stuff. As soon as I’ve got something at least somewhat figured out, they go and change it on me…”

“My company blocks access to Social sites like YouTube, Facebook and Twitter. Linkedin is open, but people frown on it when you update your profile or status. People think you’re looking for a new job…”

“Look Mike, I can see why YOU want everyone to use all these Social things because you’re in that business. But… I’m a deal-maker… OR I run an insurance agency… OR I’m selling services to insurance marketing executives… OR I work in the Senior market… OR I recruit, train, and support 1000s of agents…. I don’t have time for Social Networking. Plus the people I work with aren’t using it or even asking about it. So it’s a waste of time for me. I’ve got a job to do and numbers to hit…”

On the surface, these are all legit Comments, no doubt about it. However, we all know the common euphemisms that apply to Comments such as these. I won’t take the time to restate the common and standard responses, such as “Well, if ‘everyone else’ is jumping off a cliff, does that make it right?” Instead, let me point out some statistics and other data-points that might lead the reader to decide to take a different path, more forward-looking and though-leader’ish.

A few data-points about Social Networks in general:

65% of Adult Americans that use the Internet use Social Networks
http://www.pewinternet.org/Reports/2011/Social-Networking-Sites.aspx

93% of Americans believe that a company should have a presence on social media sites and 85 percent believe that these companies should use these services to interact with consumers.
http://www.readwriteweb.com/archives/study_social_media_presence.php

The top age group, by volume, that uses Social, is 35-44; second is 45-54.
http://derekshowerman.com/2011/07/07/age-demographics-for-social-media-usage/

Retirees age 65 and older are the fastest-growing group of social networking site users.
http://money.usnews.com/money/blogs/planning-to-retire/2011/08/30/retirees-fastest-growing-users-of-social-networks

Social network use among Internet users 50 years old and older has nearly doubled to 42% over the past year.
http://mashable.com/2011/04/06/baby-boomers-digital-media/

A few data-points about Linkedin in general:

In June 2011, LinkedIn had 33.9 million unique visitors, up 63 percent from a year earlier. (1)
As of March 2011 the service had 44 million users in the US and 56 million outside. (1)
LinkedIn members are on pace to do more than four billion searches on LinkedIn in 2011. (2)
The average American has 634 ties in their overall network and technology users have bigger overall networks. (3)
(1) http://en.wikipedia.org/wiki/Linkedin
(2) http://blog.linkedin.com/
(3) http://www.pewinternet.org/Reports/2011/Technology-and-social-networks/Part-3/SNS-users.aspx

Lastly, a few data-points about the ICMG Group on Linkedin specifically:

Just like the Annual Meeting itself, it’s a big network and growing, but also includes non-members who are participants in the industry.

ICMG Linkedin Group has 450+ Members and growing daily.

Going further, many of the Group Members have over 500 Connections on Linkedin themselves. Most have at least 150+ Connections. If a study were done, it would not be surprising to find that the average ICMG’er on Linkedin is connected to over 100 insurance industry professionals and colleagues – and all these numbers are in growth mode right now.

The Group activity is meaningful.

Up significantly in 2011, Group Discussions have been used for announcements like new insurance products and distribution partners/channels, links to relevant articles on topics like health insurance and PPACA, and Q&A on different challenges and solutions native to our business and industry.

So as an industry participant, “What’s in it for me?” you may ask.

Think about it. If you post something in the ICMG Linkedin Group, 450 people in your industry have the chance of seeing it. If you post something INTERESTING in the ICMG Linkedin Group and 10 people make a Comment, add 10×100 or 1000 MORE potential industry views of your Announcement, Comment or Question. And what is the cost? Time.

What about research? Need a warm introduction to a potential strategic partner? Need to do some research on someone before starting a relationship? Looking for a service provider in your network? By connecting with industry colleagues and participating within industry discussions, can you see how both sides of this coin can be satisfied?

Others:

1. Never make a cold call again.
2. Never start a strategic relationship without great information about the prospect or the company.
3. Always go into meetings prepared with current information on the topic and the people.
4. Communicate with your target audience in a relevant manner for free.
5. Constantly increase your IQ on a variety of topics.
6. Shorten your sales cycles.
7. Draw your clients into your information stream, increase exit barriers and competitive advantage, and cross-sell new products and solutions.
8. Understand the inherent accountability to peak performance and trust that Social Networks build and reinforce.
9. The list goes on and on and on…

Are these helpful pieces of information that might change your mind about the environment? If so, you might then ask, “OK, Mike. I see what you’re saying here. What should I do to take advantage of all this opportunity?”

First, get in there and update your profile – completely. Manage your property. If you want to see a good example of all the parts and pieces, arrangement, keywords, applications, and so forth, feel free to browse my profile. I’ve done a LOT of research – every single element is done for a specific reason. Use me. Pay attention to the details – they each have a purpose. Above all, make sure your profile is connected to your professional email address. The general concept in play is “Online Reputation Management.” Nuf said.

Daily Activities
5 Minutes: Update your status with something useful. Reply to any Comments as quickly as possible.
10 Minutes: Scan your network’s status updates. (Here’s the thing: Build the Shares newsfeed section into a powerful part of your river of information.)
As you scan, by all means, Like and Comment on other Shares, as appropriate, remembering that your network will then see the updates that you Comment on and Like. Try not to read-only, instead add value with insights and promotion of content.
5-10 Minutes: Open and scan the Group email blasts as they come in. At least look at the subject and author.

No time to add 20-30 minutes a day to your schedule? Look for something to cut.

Weekly
5 minutes: Look at the network Recommendations on the Home page Network updates. Float your mouse over unfamiliar names that have recommended influential people in your network or vice-versa. Are these potential business partners?
10-30 minutes: Try to make a few Comments in a few Groups to add value and build influence.
If you haven’t already, look at the member list and send Connection requests to people you know. Send warm introduction requests to people you want to know.

No time to add 15-30 minutes, perhaps an hour a week to your schedule? Use down time in between things – JUST NOT WHEN YOU ARE DRIVING, PLEASE.

Monthly
10 Minutes: Update your profile with any material changes to your job, interests, awards, etc.
30-60 minutes: Make/Ask for 3-4 Recommendations for/from current clients wrt projects, etc.

No time to add a half-hour to an hour a month to your schedule? Make time – get up earlier or do it while eating breakfast. (Do you really need to watch one more game/show/movie with undivided attention?)

Two final comments:

All boat rise with the tide.
Don’t get left behind.

Good luck. Happy to help. Please Comment and Share. I wanna know. Thanks.

Hey, I just found another use for Blogging! It’s a productive use of time at 6am during a windstorm power failure when the only thing you have is battery power on the laptop – no internet, no lights, no coffee – can’t decide which is worse?!?!

So I read and shared this article this week. My guess is many of my colleagues in the insurance space will read it, gently cross their arms, lean back in their chairs, and think, “Yep, this is what I’ve been saying all along…and exactly why I haven’t gotten into all that Facebook, Blogs and Social Media stuff. It’s all a fad.”

Yes, we ARE in a bubble. But here’s the thing (and I’ll ask the crowd of readers to Comment their take below):

The article makes a sound analogy with e-Commerce during the ’98-2000 era. There certainly was a bubble and a burst. Dot-com’s were getting huge amounts of money with no revenue model, etc. etc. The crash hit, many of those companies faded out, etc. Don’t need to rehash all that.

But what came out of all that? Solid e-commerce platforms by solid companies. Not sure what the latest numbers are, but billions of dollars are running through the internet as companies put their products on Web sites and buyers buy them. Again, no need to justify and explain all that anymore – common sense and acceptable.

Why did e-commerce outlive the Bubble? I’ll argue the following. What do you think?

Individually – I’ll list three. Please add yours.

IMHO, it really boils down to Fundamental Human Behaviors

e-Commerce efficiencies with time and money – Didn’t people see pretty quickly that they could browse for books and music on Amazon.com faster than they could in the store? Didn’t Google make it incredibly easy to find pretty much anything you want and compare prices, vendors, choices, user ratings, etc.? [And now we have all of that on our smart-phones? And now we have things like Groupon, Web specials, discounts for Fans, check-in savings on FourSquare?]

Sharing – Didn’t people love to tell stories about what happened to them after they bought the products? Give advice to others in similar circumstances? Make recommendations? Comment from the peanut gallery? Be the arm-chair quarterback? Share uses? Rant about injustices? Solve problems? [Back then it was mass emails and Fwd Fwd Fwd, right? Now it’s Facebook and YouTube, etc.]

Helping – Didn’t e-Commerce make it easier for people to help each other? A fundamental behavior? Why do drivers flash their lights at cars approaching a speed trap?

Corporately – I’ll list five. Please add yours.

1. Industry leadership – Did the early adopters of e-Commerce realize long-term benefits as their systems matured through trial and error before the rest of the pack? When they figured out ways to do things better, faster, cheaper; to become known as an innovator in the industry; to develop ecosystems that snow-plowed the road for the industry, was there value in that?
2. Competitive advantage – Did companies with better e-Commerce platforms do better in the 2000s than the competition? And how are they positioned today in 2011? What were the difference makers? How about those that did things in-house versus outsourcing to specialists? Pro’s and con’s on that to be sure, but if we limit the thoughts to the legit, real-deal outsourcing companies…
3. Cost savings – Netnet, now that we’re 10 years down the road and e-Commerce platforms are in place, are cost structure differences yielding gains compared to the 80s and 90? Shopping? Distribution? Inventory management? etc?
4. Mass marketing – Did e-Commerce realize the potential for companies to immediately get new products out to wide bases of constituents? How about selling overstocks? What else? And now, what about this concept called “Revenue on Demand”?
5. Personalization – How about letting the consumer design their own product? Colors, features, accessories, timelines, etc.? Of course often for either a fee or for competitive advantage, right?

What are some other advantages of mature e-Commerce platforms?

Interesting side note: As I mentioned previously, I heard an insurance executive last summer say from a podium, “When will e-Commerce realize its potential?” I wanted to stand up and shout, “When you start doin’ it right, buddy.” Funny how that exec about 3 months later was canned. Oh, and 6 months later his Linkedin profile still lists him in the CEO role. Doh! I swear……. (I’ll save him the embarrassment of linking to it.)

So are we in a Social Media bubble? Absolutely. Will it burst? Yep. Then what? To answer the question in the original E-Consultancy blog…

“We’ll get back to reality and figuring out how to do Social Tech right like we shoulda’ been doing in the first place.”

My take? Social Tech is a specialization like anything else? It’s a discipline that must be mastered and kept up with? As to marketing? There’s a host of things that need to be done urgently today? If we don’t keep up, we WILL be left behind – just common sense. How costly will falling behind be? Again, my opinion, that seems to depend on customer switching costs and your competitors. Don’t underestimate the power of consumer ratings and recommendations, the viral nature of the social Web. Don’t be complacent. Change never stops.

What do you think? Good use of an hour to write this post? Any of this make sense? Please comment. Certainly link back to your site, your blog, or other writings. Please share with your network, ask them to comment, and see if we can get some of your thought-leader friends to pipe in.

Bubble or not, the critically important questions seem to be: Are there long-term utilities in Social Technologies? Does Social Tech align with core human behavior? And will early corporate adopters (caveat: who do it Social RIGHT) have long-term competitive advantage?

Reflections on the Aartrijk Brand Camp 2010

As was mentioned in a previous post, ABC2010 was indeed an idea vortex.  10 things I learned or had reinforced:

1. A new and improved Comment moderation tool for this Blog
2. How an Agency is using FourSquare
3. A lot about branding and the value of a brand
4. That Social was a strong theme running through-out the Camp
5. That a smaller and less structured meeting worked well with this group and drives a lot of value
6. Insurance professionals of all shapes and sizes, backgrounds, etc. can work together quickly to achieve an objective (my team won the competition!)
7. Power-strips at tables, free use of tech, WiFi and Twitter hashtags all improve the meeting experience
8. Agencies and Companies are open to and need massive help with Web sites and Social Tech
9. The job of Webmaster, and to some extent, CIO, is waning
10. When making important, strategic purchases, a very high percentage (80-90%) of buyers run various searches for the brand or person they are doing business with

While Social Media Marketing is growing extremely fast, and to some extent at the expense of traditional advertising, the concept of Channel of Choice seems to be the recurring theme.  And these Channels of Choice cannot be type-cast by gender, race, age, location or really any demographic.  Thus, in order to maximize marketing potential, all channels must be used.  To not use any one, say Facebook, is to cut off a certain percentage of the market.  Common sense… but needs to be said.

Content Curation is a tangible solution for our business, especially since we have so many restrictions on what we can say.  We also don’t seem to want to talk about insurance per se all the time.  So the question then becomes, “What do we talk about inside these Social Media’s and Networks?” Content Curation – a fancy term for pointing to other people’s content and Commenting, Aggregating, Rating, Fact-checking, Sharing and so forth.  Do-able.  But remember, when you link to content, your have to make sure it is valid content.  I believe (perhaps legal-eagle readers could elaborate in the Comments under this post) that under the “entanglement theory”, posts you link to would be considered part of your content and thus fall under compliance and legal jurisdiction. The other thing is personal stuff.  Indeed, contrary to conventional wisdom, customers and prospects DO care about the personal side of the people they do business with – it IS appropriate to talk about your trips, your hobbies, and your community, to mention a few.

Where you there?  What were your thoughts of ABC2010?  Any big take-aways you’d like to share?

What’s next?  Aartrijk is crowdsourcing the location, date, and theme of ABC2011.  Join the conversation.  There’s room for more voices.  Music video due out in December.

Pictures here.