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A closer look at the
world, the woods & the
trees
Insurance and wealth management
consumers, what they're up to in social
media... and what you can do about it
Thursday, August 2, 12
Thursday, August 2, 12
Thursday, August 2, 12
Woods?
Some commonly held views about the social landscape
1. Insurance is sold not bought
2.The rules are different in social media
3.Traditional channels are safer than social
Thursday, August 2, 12
Thursday, August 2, 12
1. Insurance is sold, not
bought?
Thursday, August 2, 12
Fact # 1
People WANT to buy insurance: at the right time
Top online communities talking about life
insurance
Mother blogs
currently rate
highly
Business sites
currently lead
Thursday, August 2, 12
Thursday, August 2, 12
Thursday, August 2, 12
FACT # 1
“People use social media for
insurance (and other) product &
brand recommendations”
Thursday, August 2, 12
2.All the rules are
different in social
media?
Thursday, August 2, 12
Fact # 2
People still TALK about life insurance in social media
Conversations
around death
and cover
People will talk about
sensitive topics in online
communities - even death
Many
conversations
appear on news
and traditional
content sites
But customers
are also using
social media
channels, such as
micro-blogs
Content appears on traditional
online sites such as news...and
increasingly in social media
Thursday, August 2, 12
Fact # 2
People ASK for product recommendations in social media
Thursday, August 2, 12
Mother blogs
lead
Advice is being given online, peer to consumer peer, around very
sensitive subjects
Fact # 2
People LISTEN to how others respond in social media
Thursday, August 2, 12
“The principles of good
communication hold true in
social media”
(E.g LISTEN, be nice, interact. Don’t talk about yourself constantly.)
FACT # 2
Thursday, August 2, 12
3.Traditional channels
are safer than social
media?
Thursday, August 2, 12
Fact # 3
Some social channels are “SAFER” than traditional media
People are much more likely to post positive comments on micro-
blogging sites such as twitter
Twitter and
microblogs have
the most positive
commentary
Thursday, August 2, 12
Fact # 3
Some social channels are “SAFER” than traditional media
Generally the tone on twitter
is more positive than on
traditional news sites
News sites
Twitter
Thursday, August 2, 12
Fact # 3
Social media monitoring allows BETTER risk management
Thursday, August 2, 12
“Traditional channels are not
safer than social media - but
most of us know how to use
them better”
FACT # 3
Thursday, August 2, 12
Back to the global view
Which bits of the social media world to explore first?
1. Risk manage online...protect & build reputation, don’t
be hostage to fortune
2. Define and constantly iterate strategy & road maps
3. Commit to action learning: understanding the detail
helps decode the bigger picture
Thursday, August 2, 12
Thursday, August 2, 12

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Social Media for Wealth Mangement

  • 1. A closer look at the world, the woods & the trees Insurance and wealth management consumers, what they're up to in social media... and what you can do about it Thursday, August 2, 12
  • 4. Woods? Some commonly held views about the social landscape 1. Insurance is sold not bought 2.The rules are different in social media 3.Traditional channels are safer than social Thursday, August 2, 12
  • 6. 1. Insurance is sold, not bought? Thursday, August 2, 12
  • 7. Fact # 1 People WANT to buy insurance: at the right time Top online communities talking about life insurance Mother blogs currently rate highly Business sites currently lead Thursday, August 2, 12
  • 10. FACT # 1 “People use social media for insurance (and other) product & brand recommendations” Thursday, August 2, 12
  • 11. 2.All the rules are different in social media? Thursday, August 2, 12
  • 12. Fact # 2 People still TALK about life insurance in social media Conversations around death and cover People will talk about sensitive topics in online communities - even death Many conversations appear on news and traditional content sites But customers are also using social media channels, such as micro-blogs Content appears on traditional online sites such as news...and increasingly in social media Thursday, August 2, 12
  • 13. Fact # 2 People ASK for product recommendations in social media Thursday, August 2, 12
  • 14. Mother blogs lead Advice is being given online, peer to consumer peer, around very sensitive subjects Fact # 2 People LISTEN to how others respond in social media Thursday, August 2, 12
  • 15. “The principles of good communication hold true in social media” (E.g LISTEN, be nice, interact. Don’t talk about yourself constantly.) FACT # 2 Thursday, August 2, 12
  • 16. 3.Traditional channels are safer than social media? Thursday, August 2, 12
  • 17. Fact # 3 Some social channels are “SAFER” than traditional media People are much more likely to post positive comments on micro- blogging sites such as twitter Twitter and microblogs have the most positive commentary Thursday, August 2, 12
  • 18. Fact # 3 Some social channels are “SAFER” than traditional media Generally the tone on twitter is more positive than on traditional news sites News sites Twitter Thursday, August 2, 12
  • 19. Fact # 3 Social media monitoring allows BETTER risk management Thursday, August 2, 12
  • 20. “Traditional channels are not safer than social media - but most of us know how to use them better” FACT # 3 Thursday, August 2, 12
  • 21. Back to the global view Which bits of the social media world to explore first? 1. Risk manage online...protect & build reputation, don’t be hostage to fortune 2. Define and constantly iterate strategy & road maps 3. Commit to action learning: understanding the detail helps decode the bigger picture Thursday, August 2, 12