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THE I.I.I., THE WEB, AND SOCIAL MEDIA
The Hartford: Marketing + Communications
Hartford, Connecticut
July 22, 2010Andréa C. Basora, Vice President – Web + Editorial Services
Insurance Information Institute 110 William Street New York, NY 10038
Tel: 212.346.5558 [email protected] www.iii.org
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Presentation Outline
Who We Are and What We Do
Resources and Website Overview
Website Traffic Analysis
Social Media Presence
Social Media and Insurance
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Who We Are and What We Do
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Who We Are and What We Do
Mission
To improve the public’s understanding of insurance—what it does and how it works.
Inclusive – represent diversity of the industry
Proactive – plan ahead and execute strategic communications
Aggressive – challenge industry critics, refute misrepresentations, close knowledge gaps
Essential – Primary source of information, analysis and referral
Source: Insurance Information Institute
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Resources and Website Overview
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Resources and Website Overview
I.I.I. Daily, Members Bulletin
I.I.I. Database
Information Center Access and Research Support
Members Area
I.I.I. Public Website
Dynamically Shared Content
Videos
Publications
Specialized Websites
Home and Business Inventory Applications
Social Media Outreach
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Resources and Website OverviewPrint Publications
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Resources and Website OverviewInsurance Handbook
The new I.I.I. Insurance Handbook launched in 2010 provides vital information for a wide variety of audiences:
•Public Policymakers
•Reporters
•Regulators
•Students
•Insurance Company Employees
•Academics
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Resources and Website OverviewA Firm Foundation
Insurers Don’t Just Pay Claims They Are
Employers
Income Providers
Taxpayers
Investors
Engines of Growth & Recovery
Philanthropists
A Firm Foundation provides details on the impact and importance of the insurance
industry on national and state economies
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Resources and Website OverviewInsuring Your Business
Site for small and middle market commercial risks; has been highlighted
by major media, including the WSJ
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Content is arranged so that material most important to policymakers is just one or
two clicks away
Soft launch in January 2010; First email announcement
sent out 6/16/10
2,023 visitors this year
9,583 page views
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Know Your Stuff® Home Inventory
Know Your Stuff is highly regarded by the public and media, representing the type of outreach by the industry that generates great PR
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Resources and Website OverviewPresentations + Webinars
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The I.I.I. staff is available to produce and participate in joint Webinars on
subjects of interest with member companies.
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Website Traffic Analysis
Website Traffic Analysis: Overview
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2.5 million unique visitors in 2010
12.2 million page views in 2010
60.8 million hits in 2010
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Website Traffic AnalysisTop Keyword Search Terms
Rank Keyword(s) Visits*
1INSURANCE INFORMATION INSTITUTE / iii / iii.org / insurance institute / www.iii.org / iii insurance 25,815
2 INSURANCE TERMS / insurance glossary / insurance terminology / glossary of insurance terms /
insurance terms dictionary / insurance glossary of terms 6,817
3 CELL PHONES AND DRIVING / cell phone use while driving / cell phones while driving / cell phone
usage while driving / cell phone use while driving statistics / dangers of cell phone use while driving 4,845
4INSURANCE / insurance statistics / insurance 101 / insurance information / insurance facts 4,316
5HOMEOWNERS INSURANCE / home owners insurance / how much homeowners insurance do i need 3,493
6ANNUITIES 2,455
7INSURANCE INDUSTRY STATISTICS / insurance industry / insurance industry overview 1,425
8 WHAT IS AUTO INSURANCE / auto insurance information / car insurance information / auto insurance
statistics 1,404
9LIFE INSURANCE / life insurance statistics / life insurance information 1,376
10DISABILITY INSURANCE 942
11AVERAGE CAR INSURANCE RATES BY STATE / average auto insurance rates by state 912
12CAR RENTAL INSURANCE / rental car insurance 745
13REINSURANCE 587
14ROBERT HARTWIG 522
15MOTORCYCLE ACCIDENT STATISTICS 517
*January 1, 2010 to June 30, 2010
Source: Google Analytics.
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Website Traffic AnalysisUsers by Source
33.63%
30.60%
35.77%
Source: Google Analytics.
The majority of I.I.I. website users come from search engines, but about 30% come from other sites and
another 34% directly.
Search Engines
Referring Sites
Direct Traffic
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143,350
128,373
9,954 8,6391,952 1,497
0
20,000
40,000
60,000
80,000
100,000
120,000
140,000
160,000
Direct Google Yahoo Bing Ask Search
Source: Google Analytics.
Website Traffic AnalysisVisitors by Source
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Social Media Outreach
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Social Media Outreach: YouTube
I.I.I. Video Channel
Over 100 I.I.I. videos posted on YouTube
Most viewed: “Road Rage” (172,359 views)
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Social Media Outreach: Facebook
I.I.I. Facebook Page
Over 270 people Like this page
Over 150 links to I.I.I.content posted
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Social Media Outreach: Twitter
I.I.I. Website Twitter Page
Over 300 followers
All other feeds combined: 1,256 followers
Social Media and Insurance
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Is it Worth the Effort?
Spoiler Alert! The Answer Is Yes
Social Media and InsuranceA Few General Facts + Statistics
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In March 2010 it was reported that Facebook was the most visited website in the U.S., having more visits than Google for the first time.
YouTube gets a greater level of search traffic than Yahoo, and is the go-to site for research among young people. -The NYT and my 12-year-old son
1 in every 3 online Americans is a conversationalist, someone who updates their status on a social networking site such as Facebook or posts updates on Twitter at least once weekly. - Forrester Research
31 million U.S. Internet users will write blogs in 2010, more than 104 million will read them. - eMarketer, April 2010
Social Media and InsuranceDiving Slowly
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―Insurance providers are reluctant to dive headfirst into the vast marketplace of social media, choosing instead to ease in, bit by bit.‖
―Insurance issuers tend to rely on email and face-to-face interaction because they feel personal contact with clients is a necessity. As a result, social media doesn’t rank as high on their list of priorities.‖
Source: Mintel Comperemedia, June 2010.
Social Media and InsuranceInsurer Engagement
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How are insurers doing in the social media space?
Source: ―Leveraging Social Networks: An In-Depth View for Insurers,‖ Celent, April 14, 2010.
Social Media and InsuranceProducers
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Based on a poll of 214 independent life insurance producers:
70% percent use at least one social media site, but only half report using their accounts for business purposes.
14% believe social networks have generated word of mouth type leads, and the same amount say social networks allow them to stay in contact with clients.
A narrow 11% believe social networks give them more client opportunities.
Source: Mintel Comperemedia, June 2010.
Social Media and InsuranceWho Is Using it?
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In contrast, another survey of 964 insured adults suggests there is a key market for insurers:
Young adults, men, and high-income earners are the groups the most likely to already use social media for insurance research and communication.
In the survey, respondents were asked where they last researched insurance policies and only 4% said on a blog, online discussion group or social networking site.
However, 10% of individuals making between $75k and $100k a year, 9% of those aged 25-34 and 6% of men researched policies on social media websites.
Moreover, these adults were more likely to say they posted a question on a social networking site as part of their insurance research.
Source: Mintel Comperemedia, March 2010.
Social Media and InsuranceMeasuring Success
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Is a social media presence worth the investment?
Gary Vaynerchuk of Wine TV fame claims to have grown his family business from $4 million to $50 million using social media. He found that $15,000 in Direct Mail = 200 new customers, $7,500 Billboard = 300 new customers, $0 Twitter = 1,800 new customers.
Lenovo was able to achieve cost savings by a 20% reduction in call center activity as customers go to the community website for answers. (Note: Something that many insurers could do or are doing.)
- Socialnomics, Social Media ROI Examples & Video
Social Media and InsuranceMeasuring Success
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Online retailer Petco.com has found that, ―Products with reviews have return rates that are 20% lower than those without reviews - and the return rate is 45% lower for products with more than 25 reviews - saving on shipping, restocking, and customer service costs.‖"
- ReadWriteWeb, Forrester: If You Think Social Media Marketing is Worthless, You're Doing it Wrong
Social Media and InsuranceMeasuring Success
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However, traditional measurements of success for return on investment in social media marketing lead to an incomplete picture:
―Many marketers can draw a straight line between investments in social media marketing and financial results, but many more cannot. This doesn't mean social media marketing is ineffective; it just means that marketers have to recognize benefits beyond dollars and cents. Facebook fans, retweets, site visits, video views, positive ratings and vibrant communities are not financial assets--they aren't reflected on the balance sheet and can't be counted on an income statement--but that doesn't mean they are valueless. Instead, these are leading indicators that the brand is doing something to create value that can lead to financial results in the future.‖
- ReadWriteWeb, Forrester: If You Think Social Media Marketing is Worthless, You're Doing it Wrong
Social Media and InsuranceThe Old Spice Guy
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Rose – How many teeth do sharks have?:
http://www.youtube.com/watch?v=9MeP-rVbDXc
(1,106,774 views)
@Jsbeals – A proposal:
http://www.youtube.com/watch?v=_-fLV28SkZ8
(824,987 views)
Everyone – A farewell:
http://www.youtube.com/watch?v=nFDqvKtPgZo&feature=
channel (2,921,983 views)
Social Media and InsuranceThe Old Spice Guy
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Interview with Wieden+Kennedy’s global interactive creative director Iain Tait:
Q: How did you gain enough trust from P&G to just be able to run with their brand in real time?
That trust base is so important. We are operating under a set of principles that we've agreed on in terms of these responses, which means that not everything needs to go through stringent sign off and legal approval. At the same time they know that because we love this thing, we're not going to be irresponsible with it and throw it away and lose the chance to do it again.
One thing you can sense if you're lucky enough to be there in the studio is that they're all having such fun doing this thing. Isaiah is loving it. Everyone who is writing it is loving it. The social media guys are loving it. And that really shines through.
It’s a really strange thing, but that sense that people are having fun actually manages to transmit itself through the Internet. People gravitate toward things that feel like they're being done by people who love it. That sense that everyone involved with this is loving it is a huge factor in why this is so successful.
Source: The Team Who Made Old Spice Smell Good Again Reveals What's Behind Mustafa's
Towel, Fast Company, July 14, 2010.
Social Media and InsuranceA Research Tool
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Social Media is not just about having a corporate presence online; also a useful research tool:
―Social media can help engage customers, but can also help learn more about them, which helps salespeople sell. Social media can be used, for example, to identify the drivers that led to the purchase of a particular life insurance policy. Insurance could also follow other industries' lead, tapping into social communities to glean ideas for products and services.‖
Source: ―Pursuing a new policy: the insurance industry is slowly shifting from
traditional to trendy,‖ CRM Magazine, January 1, 2010.
Social Media and InsuranceInternal Uses
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Worth considering the benefits for internal communications and employee satisfaction:
―Employees--especially members of Generations X and Y joining the workforce--are expecting work tools to resemble the technologies they use in their personal lives.‖ -“Pursuing a new policy: the insurance industry is slowly shifting from traditional to trendy,” CRM Magazine, January 1, 2010
―The younger generation of financial professional will almost demand online self-service,‖ he says. ―I believe that soon they will want to text any questions they have in to the service center or self-service from their mobile device. We're going to have to be able to provide that capability. It's how they will operate …. They will also want an online collaboration tool to … find answers concerning product or questions from their customers. The X and Y generations are going to demand a different way of selling and servicing their customers. An enabling technology platform must strategically be in place for that.‖ - “Watching Web 2.0,” Insurance + Technology, November 1, 2009
Social Media and InsuranceMonitoring + Research: I.I.I. Is Cited in Blogs Worldwide
On any given day, I.I.I. is cited in blogs worldwide
Source: MeltWater Buzz.
Social Media and InsuranceMonitoring + Research: Daily Searches on Toyota
Source: MeltWater Buzz.
I.I.I. can analyze the pattern of social
discussion on issues important to insurance, provide information to affected members and
participate in the discussion
10 Day Moving Average
Social Media and InsuranceMonitoring + Research: Blog Entries on Toyota
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EXAMPLE: Blog Entries on Toyota
Source: MeltWater Buzz.
Social Media and InsuranceMonitoring + Research: Twitter
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Social Media and InsuranceMonitoring + Research: Other Tools
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For more on social media tools, Sandra Fathi, of Affect Strategies, is a great resource in this space, and her presentation is one of the most comprehensive reviews of what is available out there for a wide range of communications purposes:
Utilizing Technology and Online Tools to Efficiently Manage and Maximize PR
Social Media and InsuranceTools + Resources (Hat Tip: Sarah Evans)
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• Oneforty – A list of all third-party applications
(http://oneforty.com)
• Tweetdeck – Third-party application to manage Twitter
accounts
(http://tweetdeck.com)
• Search.Twitter.com – Twitter search
(http://search.twitter.com)
• Twellow – Identify people to follow based off of details in
their Twitter
bio (http://twellow.com)
• WeFollow – Identify people to follow based off of how they
classify
themselves (http://wefollow.com)
• Tweetphoto – Photo sharing service
(http://tweetphoto.com)
• WTHashtag – Top resource for tracking hashtag mentions
(http://wthashtag.com)
• Twitalyzer – Most sophisticated Twitter analytics tool
(http://twitalyzer.com)
• Listorious – Aggregator of Twitter lists
(http://listorious.com)
• Flowtown – Import current email addresses, locate social
networks
(http://flowtown.com)
• Flavors.me – Aggregate online profiles in one place
(http://flavors.me)
• Help a Reporter Out – Media opportunities
(http://helpareporter.com)
• Pitchengine – Social media release and newsroom
(http://pitchengine.com)
• Knowem – Find where your name is available and secure it
(http://knowem.com)
• Alexa – Find details about your Web site and audience
(http://alexa.com)
• Bit.ly – URL shortener (http://bit.ly)
• J.mp – A shorter version of bit.ly (they are one and the
same…simply a shorter version of its predecessor)
(http://j.mp)
• Google Reader – RSS aggregator (http://google.com/reader)
• Google Alerts – Aggregates online mentions
(http://google.com/alerts)
• Addict-o-matic – Digital dashboard
(http://addictomatic.com)
• Blog Pulse – Supplement to Google Alerts to find mentions in
blog
posts (http://blogpulse.com)
• Quarkbase – Overview of monthly web visits and other
analytics
(http://quarkbase.com)
• Board Tracker – Find brand mentions on online forums and
discussion boards (http://boardtracker.com)
• Pitchengine – Social media release platform
(http://pitchengine.com)
• HelpAReporter – Free media opportunity network
(http://helpareporter.com)
• SocialMention – Analytics and sentiment
(http://socialmention.com)
• Twellohood – Find people tweeting by location
(http://twellowhood.com)
• Mail Chimp – Email campaign platform
(http://mailchimp.com)
Source: Sarah Evans, Sevans Strategy
www.iii.org
Presentation will be available at SlideShare:
http://www.slideshare.net/iiiorg
Thank you for your time and your attention!
Insurance Information Institute Online: