kip gregory limra seminar advisor best practices in social media marketing
DESCRIPTION
Presentation delivered on August 26, 2010 at the LIMRA/LOMA Social Media in Financial Services Seminar in Windsor, CT. Kip addressed an audience of marketing, distribution, IT, and compliance/risk management professionals from more than 50 companies across the insurance industry about the impact of social media on traditional distribution of life insurance. Gregory’s remarks focused on how and why current social networking sites such as LinkedIn represent a significant breakthrough in the way insurance agents manage relationships, identify business development opportunities, and control the referral process—and what management at forward-thinking life companies should be doing right now to support and lead their organizations on the compliant adoption of this new technology. Kip's contact information is included in the slide file. Please feel welcome to contact him with questions about this material or to discuss how The Gregory Group can help your organization successfully incorporate social networking into your distribution strategy.TRANSCRIPT
Advisor Best Practices in Social Media Marketing
presented by
Kip Gregory, Principal of The Gregory Group
LIMRA/LOMA Social Media in Financial Services Seminar
August 26, 2010
Windsor, CT
© 2010, Kip Gregory—The Gregory Group. All Rights Reserved. 2
© 2010 Kip Gregory. All Rights Reserved.© 2010 Kip Gregory. All Rights Reserved.
The following presentation was delivered at the LIMRA/LOMA Social Media in Financial Services Seminar in Windsor, CT in August 2010.
Kip Gregory addressed an audience of marketing, distribution, IT, and compliance/risk management professionals from more than 50 companies across the insurance industry about the impact of social media on traditional distribution of life insurance.
Kip’s remarks focused on how and why current social networking sites such as LinkedIn represent a significant breakthrough in the way insurance agents manage relationships, identify business development opportunities, and control the referral process—and what management at forward‐thinking life companies should be doing right now to support andlead their organizations on the compliant adoption of this new technology.
This material has been provided to attendees of the seminar solely for personal review of its content. The slides may not be altered in any way, republished or excerpted without the prior expressed written consent of Kip Gregory.
Please contact Kip via phone or email (below) with questions about this material or to discuss how LIMRA and The Gregory Group can help your organization successfully incorporate social networking into your existing distribution efforts.
(202) 364‐6913kip@gregory‐group.com
August 30, 2010
The Gregory Group
© 2010, Kip Gregory—The Gregory Group. All Rights Reserved. 3
A Little BackgroundA Little Background
• 13 years teaching organizations how to harness existing resources to increase sales productivity and profitability
• Author of Winning Clients in a Wired World
• Consultant and speaker
• Launched GE Capital’s life insurance business
• http://www.kipgregory.com
The Gregory Group
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Hierarchy of IssuesHierarchy of Issues
UtilizationUtilization
RegulationRegulation
SupervisionSupervision
Education
Rules
SystemsThe Gregory Group
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3 Ways Social Networking Accelerates Selling Success3 Ways Social Networking Accelerates Selling Success
• Puts you in control of the referral process
• Improves your branding
• Helps uncover hidden connections to prospectsThe Gregory Group
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What Drives Sales?What Drives Sales?
• An agent/advisor’s best source of new business is…
– Advertising
– Cold calls
– Direct mail
– The Internet
– Referrals
– Seminars
– Other
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What Drives Referrals?What Drives Referrals?
• Most referrals and introductions start with…
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The Pipeline ParadoxThe Pipeline Paradox
• Referrals drive growth
• Asking feels awkward
• Opportunities missed
• Business goes elsewhere
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Who do you know…?
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Who do you know…?
Hmm… who DO I know?
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I wonder who he knows…
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X X
X
X
XX
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“I’ve put together a short list of folks I think you know and wondered if you’d help me identify who
might be worth talking to first?”The Gregory Group
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kip gregory
Improve Your BrandingImprove Your Branding
How easy is it for others to find the “you” that you want them to see?
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Improve Your BrandingImprove Your Branding
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Uncover Hidden Connections to ProspectsUncover Hidden Connections to Prospects
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An Easy, Free Research AssistantAn Easy, Free Research Assistant
• Google News
– Specialty search engine
– 25,000+ sources
– From real‐time results to 100 years of history
– Scan complete articles… or only headlines
– Pinpoint by geography or publication
http://news.google.com
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26© 2010, Kip Gregory—The Gregory Group. All Rights Reserved.
type your search terms here
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Key Words & Phrases for Flagging OpportunitiesKey Words & Phrases for Flagging Opportunities
acquired
announced
appoints
awarded
contracted
donating
downsizing
elected
expanding
funded
hiring
joined
laying off
merging
meeting
named
opened
promoted
published
purchased
reported
relocating
retiring
selling
surveyed
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Key Words & Phrases for Flagging OpportunitiesKey Words & Phrases for Flagging Opportunities
• “has been appointed”
• “plans to hire”
• “intent to acquire”
• contract “has been awarded”
• announced “has acquired”
• “has been promoted”
• “has been named”
• “elected to the”
• “will lay off”
• “has stepped down”
• “spinning off”
• “will be joining the”
• “will be relocating”
• “opened a new office”
• “report released”
• announce merger
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Key Words & Phrases for Flagging OpportunitiesKey Words & Phrases for Flagging Opportunities
• “million in (cash OR stock)”
• reported earnings
• “record earnings”
• “assumed responsibility for”
• “plans to restructure”
• “will be responsible for”
• “personnel changes”
• awarded contract
• sold shares stock
• “plans to sell”
• “recently named”
• “plans to open”
• issued “request for proposal”
• “to cut * jobs”
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Papers that Publish Changes RoutinelyPapers that Publish Changes Routinely
• Albany Times Union
• Buffalo News
• Charlotte Observer
• Cincinnati Enquirer
• Daily Record (NJ)
• Denver Post
• Des Moines Register
• Detroit News
• Long Island Newsday
• Philadelphia Inquirer
• Saint Louis Post Dispatch
• Salt Lake City Tribune
• San Diego Union Tribune
• Seattle Times
• Tampa Tribune
• Tennessean (Nashville)
• Washington Post
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S M T W T F S
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http://news.google.com/news/advanced_news_search
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http://news.google.com/news/advanced_news_search
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http://news.google.com/archivesearch
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What’s Newsworthy to You?What’s Newsworthy to You?
• People & Organizations– You– Clients– Prospects
• Topics– Industry– Occupation– Special interests
– Referral sources– Centers of influence– Competitors
– Legislation– Community– Events
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http://www.google.com/alerts
Track Your Search Terms AutomaticallyTrack Your Search Terms Automatically
• Google Alerts
– Free digital clipping service
– Tracks news & other categories of content
– Delivers information automatically
– Easy to set up and edit
– Perfect complement to Google News
News
Blogs
Video
Discussions
EverythingThe Gregory Group
42© 2010, Kip Gregory—The Gregory Group. All Rights Reserved.
http://www.google.com/alerts
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Social Media are Here. Are You Ready?
presented by
Kip Gregory, Principal of The Gregory Group
LIMRA/LOMA 2010 Compliance & Market Conduct Exchange
March 25, 2010
Orlando, FL
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44© 2010, Kip Gregory—The Gregory Group. All Rights Reserved.
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P
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http://www.linkedin.com
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david cole orlando
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P
CThe Gregory Group
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Gain Insight through People You KnowGain Insight through People You Know
“I just read an article about someone I think you’re acquainted with and wanted to get your advice on
the best way to approach them…”The Gregory Group
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Connecticut’s Fastest Growing Private CompaniesConnecticut’s Fastest Growing Private Companies
• Easy Seat
• Tangoe
• Open Solutions
• FM Facility Maintenance
• Ticket Software
• Higher One
• Oakleaf
• Premier E‐Security
• SS&C Technologies Holdings
• Affinion Group Holdings
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tangoe
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Develop Your PipelineDevelop Your Pipeline
Who owns—or runs—a company that employs 50 or more people and is within 25 miles of Hartford?The Gregory Group
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Develop Your PipelineDevelop Your Pipeline
• Search criteria
– Title: ceo (current)
– Location: United States
– Postal Code: 06103 (Hartford, CT)
– Within: 25 miles
– Company Size: 50+ employees
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Climb the Learning CurveClimb the Learning Curve
How do you get from hereHow do you get from here……to there?to there?
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How do you get from hereHow do you get from here…… to there?to there?
Climb the Learning CurveClimb the Learning Curve
Become Aware
Develop Skills
Apply Knowledge
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Climb the Learning CurveClimb the Learning Curve
1. Profile(s)
2. Network
3. Usage
4. Knowledge
5. Benefit
6. Credibility
7. Leadership
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Ways The Gregory Group Can HelpWays The Gregory Group Can Help
• Facilitate dialogue
• Formulate and implement strategy
• Educate and train
• Coach and mentor
• Design and deliver value‐added content
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To Learn More…To Learn More…
Kip GregoryPrincipal, The Gregory Group4425 Warren St NWWashington, DC 20016202‐364‐6913kip@gregory‐group.comwww.kipgregory.com
Contact us:
The Gregory Group