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The strategy and tactics of insurance companies and agents in using bloggers and brand advocates to reach insurance buyers.
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Thomas H. Wetzel & Associates, Inc. 1
PRESENTED TO
June 29, 2011
Thomas H. Wetzel & Associates, Inc.
Threats and Challenges
Struggling EconomyRegulatory ReformVirtual ConsumerCarrier-Producer RelationsData/ERM DemandsTech as a Game-Changer
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Thomas H. Wetzel & Associates, Inc.
How Do You Tell Your Insurance Stories?
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Thomas H. Wetzel & Associates, Inc.
“Insurers need to use social media to put a human face on the company because "it is easier to beat up a
company that you don't know.”
Jim Wisdom, Director of New Media, AFLAC
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Thomas H. Wetzel & Associates, Inc. 5
Thomas H. Wetzel & Associates, Inc.
How many here blog?
How many here follow blogs?
How many have identified brand advocates?
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Thomas H. Wetzel & Associates, Inc.
156 Million
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Thomas H. Wetzel & Associates, Inc. 9
Thomas H. Wetzel & Associates, Inc.
RECIPE FOR DISASTERSend a press release
Don’t understand their point of view
Send a blast e-mail
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Thomas H. Wetzel & Associates, Inc.
Don’t let them know who you are
Don’t recognize when bloggers blog
Impress them with an offer to interview a top executive
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Thomas H. Wetzel & Associates, Inc.
BRAND ADVOCATES
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Thomas H. Wetzel & Associates, Inc.
Characteristics of Brand Advocates
Prolific creators of information Influence opinions/purchases of friends Uses social media to help others Appreciates recognition for their insights Loyal to brands with which they have
relationship
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Thomas H. Wetzel & Associates, Inc.
THE SOCIAL MEDIA STARS USAA ForemostThrivent New York LifeAlfa Insurance State FarmWestfield Insurance Farmers PEMCO VPI Pet Insurance Allstate Erie InsuranceAmerican Family Insurance Shelter Insurance GEICO Florida Association Progressive of Insurance Agents
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Thomas H. Wetzel & Associates, Inc.
BEST PRACTICES Strategy first, tactics second Don’t experiment without a roadmap Every department plays a role Engage legal counsel early Revise existing guidelines Train, train, train Monitor and measure
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Thomas H. Wetzel & Associates, Inc.
Insurers who believe they can wait until their policyholders and prospects ask for social media engagement make a serious miscalculation. Younger insurance buyers won’t demand engagement from your company — they will just move to a company that does. A portion of older, less tech-savvy buyers may be content for now without using social media — but a growing percentage will also be lured away by competitors which demonstrate how social media delivers more value. In this soft market, no insurer can afford to ignore such a powerful tool.
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Thomas H. Wetzel & Associates, Inc.
Join our Facebook discussion at Social-Media-Management-for-Insurance-Industry
Follow our blog at www.thegoodrisk.com For information on our services, see
wetzelandassociates.com Email us at
[email protected] Phone: 708-524-4944 Cell: 708-577-
8658 17
