Six New Ways Insurance Pros can Use Social Media

The insurance industry has been increasingly taking advantage of social media as a brilliant marketing tool and social media are becoming indispensible for businesses in so many innovative ways!   I wanted to share with you some ideas I came across while reading an article by social media strategist, Jo Stratmann (based on a report put forth by Ernst and Young) with respect to how social media can be further utilized in the insurance customer value chain.

Here goes:           

1. To Research Products – Your customers are researching insurance products on dedicated price comparison websites.  They’re seeking answers to their insurance related questions through their social media networks and looking for advice on how to get the best deals possible in terms of their insurance requirements.  As an insurance professional, you should be making use of social media and monitoring them to gauge and listen to your customers’ conversations.   It’s a great way of garnering valuable information about what’s being said about your products and services.  This will assist you in assessing the positive as well as the negative perceptions that are floating around out there in terms of what you’re offering and furthermore, how this influences the research stage of the customer value chain.  If, for example, there’s no buzz out there at all pertinent to your products and services, this is a clear indication that your marketing initiatives must be reassessed.  One suggestion is to establish Facebook and Twitter accounts (if you’ve not already done so) for your brand so that you can be quick to respond to customer requests and comments and maintain an ongoing, interactive dialogue with them. 

2. To Request Quotations – More and more people out there today are using social media as a means of generating and requesting quotes for their insurance needs.  Again, it’s essential that you are connected on the various social media platforms that your customers and prospects are using, so that you can be the one they look to when sourcing out quotations.  Offer your assistance and advice and get them the quotes they’re shopping around for.  For a competitive edge, research via social media what (deals, etc.) your competitors are offering.

3. To Buy Policies – Industry research conducted by Ernst and Young has found that the vast majority of customers (90%) agree that peer recommendations are the most credible form of advertising.  It’s social proof!!  If a lot of people are doing something, more and more will want to follow suit, because it must be the right thing to do if so many people are doing it.  Product reviews and recommendations from others play an integral role in a customer’s decision making process.  Social media sites allow for plenty of customer review and feedback - and if this is all positive with respect to your products and services, just think about the implications in terms of advertising for your brand!  You could literally spend thousands of dollars through the traditional channels and it wouldn’t be worth nearly what social proof is worth!

4. To Service Policies – As social media allow customers to communicate interactively with their insurers, this helps you, the insurance professional, to garner crucial information regarding customer needs & wants and assists you in maintaining top-notch service for your customers.  You are provided the opportunity to educate them concerning their policies – the benefits, your suggestions for altering their policies, etc. 

5. To Lodge a Claim – Social media are very useful in terms of disseminating valuable information that could possibly help to reduce claims.  Blogging, for example, is a powerful way of offering advice and guidance – your blog allows you a platform within which to impart crucial information about insurance related issues – i.e. the trials & tribulations of winter driving and how to best stay safe on the roads (snow tires, speed alteration, etc.).

It’s also a great idea and becoming more and more commonplace for claim handlers to mine social networking sites such as Facebook and Twitter to assess the validity of claims given the data, comments and social networking conversations of the claimants.

6. To Renew & Terminate Policies – Customers generally fulfill their renewal and termination requirements via websites, therefore the same potential exists for insurance professionals to use social media to advance renewal numbers.  A fundamental benefit to social media is that it allows you to gather insightful CRM (customer relationship management) data, for example, policy types, renewal dates, etc.  Given this information, your social media engagement could encompass not only acquiring new customers, but targeting existing customers prior to the renewal dates of their policies in order to entice them into renewing or changing rather than terminating their policies.

For so much more on using Social Media for your business, why not join one of our Social Networking for Business workshops.  For a schedule of workshops in your area, please visit:

http://www.escomputertraining.com/courses/details/industry/2/course/20

MORTGAGE NEWS YOUR CLIENTS NEED TO KNOW

It looks like mortgage rates are on the rise!  Is a fixed rate now more economical than a variable rate?  As a mortgage specialist, this is the type of crucial information that your clients and prospects need to know!  Are you using social media as tools for communicating with your clients and prospects?  If not, you should be!  You can bet that your clients are on social media and what better way to connect with them?                 

An article on the December 6, 2011 edition of thestar.com spelled out how there has been, over the past few months, an increase among variable-rate mortgages and that experts are currently predicting that this will remain the case.  The article cites information from Kerri-Lynn McAllister, community manager at RateHub.ca. 

Ms. McAllister is quoted as saying that, “A few months ago, there was basically a one per cent spread between fixed and variable.   Now it’s .2 or .3.” 

Ms. McAllister maintains that the reason for the rise is at least partially due to the fact that , since mortgage rates have been so low, banks have had difficulty making any money. 

And, although fixed rates could also be slated for an eventual increase, the question seems to be:  Is it now better to go for a fixed rate than the traditionally more economical variable rate?  According to Ms. McAllister, fixed rates now seem to be the way to go.

Joseph Haimowitz, principal economist at the economic think tank, Conference Board of Canada, expects, however, that fixed mortgage rates could rise by as much as .25 per cent by the middle of 2012.  But, according to Robert McLister, editor of Mortgage Rate Trends, it appears that, for at least the foreseeable future, discount variable rate mortgages, which tend to offer rates half a per cent or more below prime, are no longer.

Something to think about!  And, to definitely inform your clients about.  Get connected today on social media.  Let us show you how.  Why not join one of our Social Media for Business workshops and we’ll teach you how to best leverage social media platforms such as Facebook, Twitter, LinkedIn and Blogging for your business’ marketing strategy.  Just click on the following link for a schedule of workshops in your area:

http://www.escomputertraining.com/courses/details/industry/2/course/20

SAFE WINTER DRIVING – ARE YOUR CLIENTS READY?

Winter is almost here again.  Now’s the time for you to let your clients know how to get ready for a safe, accident-free season! 

The most common types of serious accidents that occur on our winter roads include:

·         Rollover   accidents                                                       

·         Rear-end collisions

·         Pedestrian-automobile accidents

·         Collisions with man-made objects (i.e. telephone poles, highway medians, etc.)

There are three key things, according to Ontario’s Ministry of Transportation, that people can do to ensure that they are driving as safely as possible:  Stay alert, slow down and stay in control.  It’s essential to drive according to the weather / road conditions – slow down on snow and ice.  And, always maintain a safe distance between you and the vehicle in front of you in case you have to brake suddenly on a slippery road.  If your car unfortunately does start to spin out of control, it is recommended that you put it into neutral and look & steer where you want to go – this gives the car a chance to stop spinning and to regain traction on the road.  It is not recommended that you panic and slam on your brakes (as so many of us tend to do). 

Most of it sounds obvious, doesn’t it?  But, there are so many people out there that just don’t adhere to safety guidelines.

Accidents are accidents and sometimes occur without human error.  There are, however, ways that you can limit your chances of being a winter driving accident victim – simple things to get your car winter-ready:

1.       Invest in Winter Tires – so much safer for our potentially harsh Canadian winter road conditions.

2.       Replace your Wiper Blades – wear and tear can render them ineffective and when you can’t see out your windshield due to the slush and salt mixture being projected there, you’re in real trouble.

3.       Ensure that your Windshield Fluid is Always Topped Up – for the same reason as in point #2.

4.       Have your Brakes Inspected – this is so important in any weather!

5.       Ensure that your battery is up to snuff – car batteries have a four to six year life expectancy and they tend to produce less power in cold weather.  It’s recommended that batteries be replaced approximately every four years to reduce that chances that you’ll wind up stranded somewhere because your car won’t start in the cold.

6.       Get your Vehicle in for a Maintenance Check-Up – let a professional give your car a once over just to make sure that it’s ready for the tough winter ahead.  When things are worn, severe weather conditions will tip them over the edge and that causes breakdowns.  Prevent this - don’t get stuck!

As an insurance professional, it’s more important than ever at this time of year to get the word out to your clients about the hazards of winter driving and how they can stay safe.  Social media is the fastest and most effective way of doing that. Get your messages out to your clients on Facebook, Twitter and via your Blog!  Please let me know what you think in our comments section below, about the content suggestion I’ve shared with you!

And, why not join us at one of our Social Networking for Business workshops - we’ll show you how to effectively communicate need-to-know information to your potential and existing clients so everyone stays safe this winter!

For more information, please visit:  http://www.escomputertraining.com/courses/details/industry/2/course/20

AS AN ADVISOR, COMMUNICATION IS PARAMOUNT: THINK SOCIAL MEDIA

As a financial advisor, how often do you think it’s prudent to be in touch with your clients?  How important do you think it is to impart crucial information, keeping your clients up to date regarding what’s relevant to them? 

Did you know that 65 per cent of Canadian investors have not been contacted by their firms in the past year with respect to product or service offerings?  This fact cites the recently released results of a 2011 survey conducted by J.D. Power & Associates, which posed a question to 5600 investors as to level of satisfaction with their firms.  It would appear that many respondents are underwhelmed with respect to investor communication.

Other findings of the survey include that four in 10 respondents had had no discussion with their advisors that resulted in appropriate alterations to their portfolios.  Furthermore, almost 30 per cent have disclosed that their advisors had not given them any effective indication as to why their portfolios are performing as they are.

Clients that feel neglected are ripe for poaching!  Some might move portions of or even their entire portfolios elsewhere.  How can you stay closer to your clients and keep that mindshare?  The easiest and most efficient way is to adopt Social Networking tools such as LinkedIn, Facebook, Twitter and Blogs into your marketing and client service strategy.

Overall satisfaction with full-service firms was rated on a score of 1000, with the average being 733 – and this is down from one year ago.   Regular contact & communication between advisors and investors is imperative in order to maintain greater investor satisfaction. One of the simplest and most effective ways of achieving this is through social media.  Social media is all about contact / customer relations management. 

Join one of our Social Media for Business Workshops to make the most of the various social networking platforms and better serve your customers.  For further information and a schedule of our workshops, please visit:

http://www.escomputertraining.com/courses/details/industry/2/course/20 

HARNESS THE POWER OF FACEBOOK & WATCH YOUR MORTGAGE BUSINESS FLOURISH

I ran into someone I went to university with a couple of weeks ago, and as we were both pressed for time and not able to catch up for more than a nano-second, we agreed to hook up (translation in Facebook speak: “Friend” each other) on Facebook.  We didn’t exchange business cards, telephone numbers or any other form of contact information, I simply asked if she was on Facebook, she replied that she was and we have since been in constant contact on this most fascinating of Social Media platforms.

Since we did not have a chance to even find out what the other was doing in terms of employment the day I saw her on the street, I was actually a bit surprised to find out that she was a big-time, very successful mortgage broker!  I was impressed.  But, even more impressed were two of my other Facebook friends, who both happened to be in the market for mortgages – one, a first-time buyer and the other, looking to renew.

Upon viewing Maddy’s Facebook Page, both of my friends have now hooked up with her and are pleased with the job she is doing for them.  Maddy has thanked me for the business, but in reality, I had nothing to do with setting her up with my other friends – that was all through the power of Facebook.  And, Maddy, like any other progressive-thinking mortgage broker, was smart enough to optimize a Facebook business page to help her business succeed.  And, voila – I saw how networking on Facebook worked for her firsthand!  Maddy has been singing the praises of something about which I already knew, being in the business of social media – that she obtains over half of her business via social media platforms, most specifically, Facebook.

So, if you’re new to the social media game, why not consider harnessing the power of Facebook to increase your bottom line?  Here are some unique advantages of Facebook marketing for the mortgage professional:

1. Facebook provides you with exposure to a very wide network of potential clients – Rather than being an annoyance, trying to “sell” your business to random people, you become a welcome “friend”. Facebook allows you to get in front of your existing clients’ friends as well as your referral partners’ friends and all of their families, colleagues, associates and clients, too – and it allows you to position & intersperse your marketing message alongside the Facebook updates of all of the people in your network and theirs!  Facebook closes the gap between blatant advertising and the social connection that you have with people.  It allows for social interaction, while at the same time, still relaying your message in terms of your products/services and what you can do for these people.

2. Facebook enables viral marketing – Use Facebook to send out your industry news, updates & tips to your friends and fans – and in doing so, you are able to have your message posted to the same News Feed that these people check out on a daily basis to find out what’s going on with their Facebook friends. There’s magnificent power in that, as it is customary among Facebook users to “share” things they “like” with their friends, therefore allowing your messages to spread virally, reaching hundreds of people you would not have otherwise been able to connect with if not for the viral essence of Facebook marketing.

3. Facebook allows you build a vast network of “friends” and “fans” – Facebook is all about building a following for your business – a following of people whom you like and trust and who feel the same way about you.  As a mortgage professional, it’s essential for you to grow your following to as many people as you can in order to gain the highest level of connection and trust possible.  Remember, once you gain mindshare, bank account share is soon to follow!  And how do you gain mindshare?  You simply keep in touch with frequency and repetition, all the while providing helpful information, tips and insight that enrich the lives of the people in your Facebook network.

4. Facebook is completely free of charge and can be very profitable if used correctly – Have you ever spent a ton of money on traditional advertising only to attract rate shoppers and to later realize that the ROI was not as lucrative as you had expected?  Well, what have you got to lose by setting up a Facebook account and creating a business or fan page (see below)?  All you have to invest is your time in optimizing the account/page and you’re off!!

I just wanted to make the distinction here between a Facebook account and a Facebook Page:  Your account displays your personal profile, but you can also create a Fan/Business page where you can showcase your products & services and offer industry related news, facts and tips to people out there who are looking for mortgage guidance. People can “like” your page and this is how fans are generated.  Earn people’s trust and develop solid connections by offering helpful and informative advice to mortgage seekers and realtors.

A few things to keep in mind when creating your fan page:

·         Ensure that fans can post to your wall so that the page is completely interactive (this is the default setting when setting up your page – be sure not to change it).

·         Ensure that your page includes a “call to action” – i.e. “Need help making sense out of all the mortgage options out there?  Contact me/us today (and provide contact info such as telephone number or email address).

·         Ensure that you page includes an identifiable photo or logo.  Remember, the concept is all about branding yourself and your business.

If you need help getting started on Facebook, we can help.  Why not attend one of our informative and innovative Social Networking for Business or Facebook for Business workshops.  Simply click on the link below for a schedule of workshops in your area.  It’ll be worth your time!!

http://www.escomputertraining.com/courses/details/industry/2/course/20

INSURANCE PROS REACH MORE CLIENTS & PROSPECTS THROUGH BLOGGING

I was looking the other day for some information regarding a couple of insurance questions I had, and like most people, the first thing I did was conduct a Google search.  As an avid blogger, I fully understand and advocate the power of blogging for the business professional.  But, wow – you insurance pros are really up on the blogs!!  I was amazed and excited to see how many insurance blogs there are out there and how informative and interesting some of them are.

For those insurance professionals who have not yet begun to take advantage of blogging to drive business and reach more clients and prospects, I have just one question for you:  What are you waiting for???

Blogging is a very useful tool for insurance professionals to employ if your end game is to reach more clients and prospects.  Blogging should be an integral part of any social media campaign.  And, no, you don’t have to be Ernest Hemingway to blog.  You just have to know your stuff and write about it on a regular basis so your clients and prospects find you the next time they have insurance related questions and conduct a search on Google to obtain their information. 

Blogging provides you with an opportunity to showcase your smarts about all things insurance and it builds within your clients and prospects a sense of trust and reliability in you.  Wouldn’t you like to be the go-to -expert for these people? 

Okay, I know what your next question is going to be:  What in the world do I blog about?

Well, I can help you there.  As aforementioned, people have questions about insurance and their policies all the time.  What are some of the most frequently asked questions that you hear?  Jot them down and, voila!! blog content ideas abound.  Still need more?  One of my gurus, Chris Brogan, noted author and marketing consultant, created a list of 100 blog topics to write about, and below, I will share with you 50 of them:

1.       Why I love being an insurance agent

2.       What are your agency’s values

3.       How is trust earned

4.       Improving the insurance industry’s image

5.       My favorite social network and why

6.       How can agencies help the community

7.       What are “named perils”

8.       Obscure auto, home, or other insurance discounts

9.       Customer service vs. sales culture

10.   My favorite news sources

11.   I helped someone by…

12.   Spotlight local non-profit or charity event

13.   Importance of agency goals

14.   Pet and wedding insurance, when and why

15.   Insurance provider news

16.   High or low deductibles, the logic behind both

17.   I am motivated by…

18.   Attracting millennial talent to agencies

19.   Secret world of annuities

20.   An interview with someone older and deserving

21.   When to drop collision on your auto insurance

22.   Promo for business insurance client

23.   What (insert favorite show/movie) can teach you about insurance

24.   Comment on local news story

25.   Biggest misconception about insurance

26.   What “helping” means to me professionally

27.   Difference between “actual cash value” and “replacement cost”

28.   Publicly answer a client’s question (chances are someone else is wondering too)

29.   Why I love my community

30.   Small business marketing tips

31.   Common business insurance claims

32.   Advantages of agency over online insurance

33.   When is saving money NOT a value

34.   What is property cost evaluation

35.   Factors that affect health and life insurance coverage

36.   Testimonial for a vendor

37.   What you need to know about pet insurance and biting dogs

38.   Highlight benefits of local insurance trade organization

39.   Thank you blog to existing clients

40.   Weekly stories from the road

41.   A day in the life of an insurance agent

42.   My favorite hometown landmark

43.   Does my roommate need renter’s insurance too?

44.   Historic person I’d like to interview

45.   The importance of a proper greeting

46.   Local insurance risks (weather, crime, etc.)

47.   Video tour of the office

48.   When is umbrella insurance necessary

49.   My favorite social media users

50.   Blog topics I’d like to read

Be creative and remember, it doesn’t have to be all business all the time.  A funny story or anecdote makes for a great blog, too!  Have some fun with it and keep it engaging and you’ll see just how easy and profitable blogging can be! 

Happy blogging – and, if you want to learn more or need help getting started, why not join one of our Social Media for Business workshops and we’ll teach you everything you need to know to reach more clients and prospects through blogging. 

For a schedule of workshops in your area, please visit:  http://www.escomputertraining.com/courses/details/industry/2/course/20

ATTENTION ALL FINANCIAL ADVISORS: THE TIME TO START TWEETING IS NOW!

Is Twitter really relevant and helpful to today’s financial advisor?  You bet it is!!

Consider this:  With everyone and their moms using Twitter (the ever-popular networking site currently boasts approximately 200 million registered users), you can bet your bottom dollar that many, if not most, of your clients and prospective clients can be reached on Twitter.  So, why shouldn’t these people be following you?

Twitter is a wonderful little micro-blog that incorporates so many features and uses, but the ways in which a financial advisor can use Twitter are unique to that industry.

For the average finance professional (at least from a business standpoint), garnering hundreds of followers is not of great use unless you are targeting the right users – your client base and future prospects.  It’s essential for you to establish your ‘Twitter identity’ and invite your existing clients to follow you.

By doing so, you establish yourself as a thought leader.  People need to get their financial information and advice from somewhere; why not from you?  You have to know that, realistically, other financial professionals are active on social media sites, and you definitely want to not only stay in the game, but become the front-runner!

Twitter provides a distinct form of communication that differs from all other channels.  Not each and every client interaction requires a long, drawn-out meeting.  If you have a point to make (perhaps as follow up to a previous meeting) or just want to share a brief message or tid-bit of relevant information, Twitter offers the perfect platform within which to do so. 

Twitter also offers you the opportunity to expand your following to those outside of your existing client base, thereby attracting prospective clients as well.

Here are a few tips for attracting quality followers on Twitter:

1. Start Following the People that You Want to Follow You:

Do some research in terms of potential leads and start following them.  Tweet something pertinent to them and let them know where they can connect with you via Twitter.  You might also want to follow other industry experts to share important tips and advice that you can “re-tweet” to your followers. 

And, don’t be afraid to introduce yourself.  The key word in the term social media is ‘social’.  Think of it as one global cocktail party.  It’s uncomplicated and very effective to make a personal introduction – and why not make an intelligent comment or ask a question.

2. Tweet Engaging & Interesting Content:

With only 140 characters per tweet, make them count.  It’s always a good idea to tweet an eclectic blend of information, from industry news to directional links to informative articles.  And, don’t be afraid to throw in the odd joke or humorous quote.  Remember, it’s a social network.  You want people to know that you are the best financial advisor around, but that you’re also human and very personable.  People will only want to do business with you if they genuinely like you.

3. Remain on Track:

With number 2 (above) being said, try to keep in mind that the main objective is to attract clients and prospects.  So, go ahead and be personable, but try to refrain from tweeting prolifically about the weekend adventures of your kids or pets.  A slight bit of this is okay – after all, you’re human – but that’s not why business contacts are following you. 

4. Join In Discussions on Twitter:

Getting in on industry relevant discussions is a great way for you to display your expertise.  Join in and show ‘em what you’ve got!  To find interesting topics of discussion, you can use the Twitter search feature or search by hashtag (i.e. #RRSPs or #capital #gains #tax).

5. Interact with & Listen to Your Followers:

In posting valuable, information-rich tweets, it’s only a matter time until you start attracting more and more followers.  Ensure that you are consistently paying attention to what your audience has to say:  what kind of questions are they asking?; what type of information are they looking for?  Always respond to queries as promptly and as informatively as possible, showcasing yourself as a valuable resource to your followers.

If you want to learn more about Twitter and about why, as a financial advisor, the time to start tweeting is now, come join one of our Social Networking for Business workshops.  Please see our schedule for a listing of workshops in your area and we’ll teach you everything you need to know:  http://www.escomputertraining.com/courses/details/industry/2/course/20

INCREASE YOUR MORTGAGE BUSINESS’ BOTTOM LINE WITH BLOGS

Blogging is probably the most underrated of all the social media.  Everyone has a Facebook account; everybody tweets and, as a mortgage professional, you hopefully have a LinkedIn profile set up by now (if not, then you’ll need to see some of my other blogs extolling the virtues of LinkedIn for the business professional).  But, blogging, although certainly coming into its own more and more, is not a social medium that as many people take advantage of as should.

Blogging is an excellent way to further develop your online presence as a means of establishing your brand.  In fact, your blog is, arguably, your brand!  Creating a blog and maintaining it by posting regularly is a great way to put yourself out there and demonstrate to your clients and prospects that you are a cut above the competition. 

Your blog positions you as the industry expert – one who truly takes the time to educate and impart crucial knowledge on others.  It’s really not enough anymore to simply post information on your website – your website is not updated on regular basis and it’s simply not feasible to include a wealth of updated information within your website.  A blog will offer you the capability of thoroughly branding yourself and lets you make a marked impression on everyone who reads it.  This, in turn, builds a sense of trust and reliability in you and your services.

Blogs are furthermore a great way of generating traffic and establishing your business online.  It’s therefore imperative that you post updated, fresh content on a habitual and frequent basis.  This will ensure SEO (Search Engine Optimization) for your brand, making you more visible to existing & potential clients, again, positioning you as the authority of the mortgage industry.

And, best of all, blogging, unlike traditional advertising & promotional methods and maintaining a website, will cost you nothing other than your time.  Yes, your time is valuable, but once you get going and start to become established, you’ll soon find that you have so many brilliant ideas for content, that you’ll actually have some fun with it! 

If you really want to look like a pro, try including some photos and/or videos within your blog posts.  Visually enhancing your blog will add an element of depth and increase interest among your audience.  You can use educational videos or photos illustrating your content as visual aids. 

To fully boost your SEO, be social!  Don’t forget to include links to your blog on your Facebook, Twitter and LinkedIn accounts.  Doing so will substantially increase traffic to your blog and, of course, your brand.

So, go ahead – get started, because the sooner you do, the sooner people will be searching you out for information on all things mortgage!   Need some help?  Just join one of our Social Media for Business workshops and we’ll teach you all you need to know to put together a truly remarkable blog that will be sure to ultimately increase your bottom line! 

Please visit  http://www.escomputertraining.com/courses/details/industry/2/course/20  for a schedule of upcoming workshops in your area!

To Win With Social Media You Need Content

Each of the social media sites has its own unique features, strengths and functions, but one thing they all share is the requirement of engaging, memorable content.  The practice of interrupting consumers repeatedly with advertising messages speaking at them is simply no longer sufficient.  It has become vital that businesses create online content as a pillar of their marketing strategies.

So, what exactly is content?  It’s a general term that refers to anything that is uploaded to a website or the social media sites.  Good online content that generates successful online marketing campaigns is not advertising.  It’s information and/or entertainment.  The key to online content is that it speaks to its target audience.  Great content converts browsers into buyers and existing customers into forever customers or advocates.  And the way to accomplish this is to ensure that the content is ENGAGING.  Consumers have to care about the content they’re reading – they have to want to share it with their network of contacts.  Very engaging content will not only generate sales, but will also position your business as a reliable source of information – the very authority of the industry.

Well-written online content must include vital information your clients or prospects need to know.  As a financial advisor, you can share industry-relevant news and up-to-the-minute information that your clients and prospects need to be aware of when making decisions regarding their investments and portfolios.  You might want to blog about frequently asked questions or concerns – i.e.:  How to succeed in an oscillating market?, What are the risks of equity investments?  Will the U.S. recession cause worsen our financial situation? Or, How will the impending changes to the Canada Pension Plan affect my retirement plans?  You need to share the ‘soft’ information that only you, as a financial advisor, know.  You are the expert and you want to share content that invokes a sense of credibility and trust.  It’s also imperative to incorporate keywords and key search terms in a consequential manner within content so that when someone conducts an online search, your material will be the source of information that comes up.

Social media is furthermore about two- way communication.  You speak to your customers and they speak to you.  Customers can ask questions about, comment on and “like” products or services. Informative content (again, this means something that is not an advertising or sales pitch) enables consumers to get involved – it both invites and demands active participation. 

There are four key points to keep in mind when creating content:

·         Be informative – people look online for information

·         Be entertaining – people go online for entertainment

·         Understand your audience and what they’re looking for - invoke emotional responses

·         Engage, engage, engage – let your audience feel like they’re active participants

And, very importantly, don’t forget to have fun with it.  Creating great content is very rewarding & fulfilling and it’s amazing just how imaginative you can be!  Need help getting started?  We can show you how in one of our Social Media for Business workshops. 

Please visit http://www.escomputertraining.com/courses/details/industry/2/course/20 for a schedule.

INSURANCE PROFESSIONALS ARE JUMPING ON THE SOCIAL MEDIA BANDWAGON

It appears that more and more insurance professionals are looking to join the masses on social networking sites as a means of enhancing their business practices and reaching the clients in their communities – clients who are already making use of the many benefits of social media.

Life reinsurance experts, LOGiQ3, recently polled their community of clients at one of their annual events and the findings were very enlightening:

“26% of our attendees preferred to use email communication (not a surprise), but followed tightly by LinkedIn at 22%, Facebook and Phone calls, both at 18%, Twitter at 13% and lastly, traditional postage at 3%.” – Insurance-Canada.ca

This is very useful information for the insurance industry.  It enables focus on communication where it is most constructive – to these preferred social media sites. It allows insurance professionals “…to connect with their networks on a real time basis, providing relevant content…” and it furthermore enables them to “…listen to what is being said on their preferred channel.”

A search on LinkedIn conducted by LOGiQ3 showed that some of the top insurance companies do in fact have abundant followings on the very popular business-oriented social network:

ACE – 4,954 followers; Sun Life Financial – 7,280 followers; Swiss Re – 5,924 followers; AEGON – 5,226 followers; RBC Insurance – 1,302 followers and Partner Re – 677 followers.

Life insurers, according to the article on Insurance-Canada.ca, are furthermore now using social media as a means of detecting fraud in submitted claims - “Investigators are now using sites such as Facebook to investigate suspicious claims. They’re looking for clues that don’t add up to the claim submitted, such as someone bragging about running a marathon while submitted a claim for an injured back, etc. Though data gathered on these sites are useful, they can only be used as insight and never as final proof of fraud.”

There has also been speculation that social media data might be useful with respect to price policies.  Insurers are able to compare information posted by applicants on social networking sites with the information concerning their lifestyle choices and medical histories filled out on their applications.

Social media is undoubtedly one of the most valuable and functional tools at our fingertips and you, as an insurance professional, can make the most of the many features each social network has to offer.
  
Join one of our workshops and we can show you how to make the most of your social networking experience.  For information regarding our schedule, please go to:

http://www.escomputertraining.com/courses/details/industry/2/course/20

FINANCIAL ADVISORS NOW USING SOCIAL MEDIA

The world of finance has been making great strides with respect to embracing social media as a form of cultivating strong customer relationships and maintaining powerful brand loyalty.  Only a short time ago, the financial community approached social media with some reluctance and reservation, in large part due to privacy concerns. 

As misconceptions regarding the nature of social media have over time been dispelled, the financial advisor is now more apt to be in tune with the diversity of the social media options and the resources each has to offer.

In contrast to traditional marketing and websites, which enable only a one-directional flow of communication to or ‘at’ the customer, social media allow users to interact with a brand, in turn, building a further sense of community and a much stronger sense of brand awareness and loyalty.  For you, the financial professional, social media have become a crucial means of diversifying marketing strategies and growing your business and customer network.

Online communities such as Facebook, Twitter and LinkedIn are currently the most productive ways of meeting prospects and maintaining contact with existing customers.  Yes, it’s imperative to invest some time and effort in creating and managing your social media accounts and profiles, but time is virtually the only thing you do have to invest – social media are of very little to no financial cost – but the benefits are nothing short of astronomical!  With over 20 million Canadians currently on Facebook and over 200 million tweets being posted per day on Twitter, just think about the implications these numbers have for your business.  Ten to 1, more of your customers and prospects than you think are connected and that means you should be too!!

Facebook can undoubtedly propel your business to the forefront of the financial industry.  By setting up a Facebook ‘Fan Page’ in addition to your profile, you are creating a stronger online presence for your business as well as enhancing its reputation. There are various uses for a fan page – i.e.: creating events; starting discussion posts; running social ads; sending simultaneous messages to everyone and viewing your page statistics – just to name a few.  Facebook truly is an exceptionally useful tool.

Twitter is a great way of distributing short, relevant bursts of information to an extremely wide audience.  To generate some buzz for your business, simply tweet away on its virtues to create interest and entice prospects to want to check out your Facebook page (you can link the accounts so that they’re interactive) and your website.  Twitter is a terrific means of support for your Facebook account, your website and your Blog (see below).

A LinkedIn profile is highly recommended, as LinkedIn has categorically become the number one connection-based referral source for business professionals.  LinkedIn is in fact the only one of the social networking sites that is truly exclusive to the business professional.  A LinkedIn profile is a crucial element within your social media campaign.

Perhaps the most meaningful of the social media in terms of the financial professional, is the Blog.  What can a blog do for you and your business? It can generate buzz as you blog to relay relevant financial news and information to your clients and prospects – information that they will find very useful.  You’ll look like the hero – the veritable go-to guru for all things financial!  A blog is a functional tool for building trust between you and your customers & prospects – a forum within which you can be as creative and descriptive as you wish. Have some fun!

For those still wary about the risks involved with marketing via social media, consider the unprecedented intelligence gathering prospects these platforms offer. The ability to better understand customer requirements and preferences is one of the strongest arguments for financial advisors to join the millions already connected within the realm of social media.

As you ponder, remember that delaying your foray into social media will not serve you well – while you’re waiting, your competitors are proceeding and evolving, establishing themselves as the experts in the financial industry.  To avoid the battle of winning over your competitors’ followers, let us help you get connected today! 

For a schedule of our full-day, hands-on Social Media for Business workshops, please just click here http://www.escomputertraining.com/courses/details/industry/2/course/20 and we’ll get you started!