Transcript Marketing Strategy in the 21st Century

2012 IASA Advanced Boot Camp:
Mastering the Art of Marketing &
Selling to Insurance Companies!
Thursday, March 15th
&
Friday, March 16th
Omni Amelia Island Plantation Resort
Amelia Island, Florida
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Marketing Strategy in the 21st Century:
Not Your Mother’s Marketing Campaign
Presented by:
Ruth Estrich, Chief Strategy Officer –
MedRisk, Inc.
Marketing Strategy in the 21st Century
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Ruth Estrich
 25 years as an insurance
company buyer
 10 years as a vendor in
the WC space
 4 years as the CMO
 Now the Chief Strategy
Officer
Marketing Strategy in the 21st Century
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If your buyers look like me, they won’t for long,
but don’t count us out yet
New generation of decision makers are not just
younger, they behave differently (although we
older folk are learning)
This is not a fad – it is a trend and there is no
indication that it is going to change direction
Marketing Strategy in the 21st Century
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What I like
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Interesting, engaging speeches at conferences
Catchy, unique exhibits
Crisp, on-point collateral
What I hate
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Unsolicited phone calls
Unsolicited e-mails that make it sound like you know me
Marketing Strategy in the 21st Century
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What I love:
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Introductions through colleagues
Social media connections and content value
Informational blogs
Marketing Strategy in the 21st Century
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Marketing Strategy in the 21st Century
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Consider this: To reach 50 million users…
Marketing Strategy in the 21st Century
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It took radio 38 years
It took television 13 years
Marketing Strategy in the 21st Century
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Facebook did it in 3 years, and today has
over 600 million users
Marketing Strategy in the 21st Century
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This form of communication is powered by
the people. Think dialogue, not monologue.
The way companies communicate with their
customers needs to reflect this shift.
Marketing Strategy in the 21st Century
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Social networking use among internet users ages 50-64
grew by 88% last year
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1 in 10 users 50 and older use Twitter or another service
to share updates
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Fastest growing Facebook segment is 55-65 year old
women
Marketing Strategy in the 21st Century
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Social Media empowers everyone, young and old to
have a voice
Social Media can change corporate behavior in a day
Marketing Strategy in the 21st Century
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You have to join the conversation. Your customers
want you to talk to them, not at them
Recognize that this is where your customers are. -You
should want to be where they are
If you don’t invest in social media, you give the
competition a chance to jump in and say, “We
understand your needs. We’re more connected with
you than the other guys.”
Marketing Strategy in the 21st Century
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What should you be doing with social networking?
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Create corporate pages
Encourage/support key employee pages
Monitor your competition
Monitor your customers
Monitor your prospects
Monitor social media sites to learn what your customers
are saying. Be responsive; incorporate feedback quickly
and effectively.
Marketing Strategy in the 21st Century
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Facebook’s Mission: Giving People the Power to Share
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© MedRisk, Inc.
Facebook is the 2nd most popular website in the world and continues to
gain on #1 Google
There are over 600 million users on Facebook, spending over 700 billion
minutes per month on the site
If Facebook were a country it would be the third largest on Earth
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Marketing Strategy in the 21st Century
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Use Facebook as a business tool:
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Connect with customers - this is a direct line of
communication with the end user
Attract new customers virally through friend
recommendations, News Feed stories, etc.
Branding. Reinforce your brand
Mass marketing – deliver message to a large audience
instantly
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Build a Fan Base
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Add your Facebook URL link to email signatures
Integrate the FB icon on your website
Include a “Connect with us on Facebook” call-to-action in e-mail
newsletters
Target FB users: online resources can reveal all the social networks a
person participates in based on email address
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Transparency is key: allowing
fans to post comments shows
willingness to participate in
honest conversation
You can’t control the
conversations but we can
control how we respond to
them
Forrester Research group found
80% of FB comments about
products and companies are
positive
Marketing Strategy in the 21st Century
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Dealing with comments on your page – criticisms and praise:
Marketing Strategy in the 21st Century
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Marketing Strategy in the 21st Century
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© MedRisk, Inc.
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Confidential
Marketing Strategy in the 21st Century
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Marketing Strategy in the 21st Century
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Marketing Strategy in the 21st Century
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LinkedIn’s Mission: Connect
the World’s Professionals
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© MedRisk, Inc.
Over 90 million members in over 200 countries
Executives from all Fortune 500 companies are LinkedIn
members
Communicating through LinkedIn makes you 30 times more
likely to get a response
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Marketing Strategy in the 21st Century
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Use LinkedIn as a business tool:
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Manage the information that is publically available about you
and your company
View profiles of Raven / Eel / BFF to gain insight: background,
contacts, etc.
Use a common connection to ask for or to make an
introduction
Increase brand recognition and position your company as an
expert in the industry by contributing to group discussions
Marketing Strategy in the 21st Century
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Linked In – A key
social networking
business strategy
Marketing Strategy in the 21st Century
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Participating in discussions and demonstrating expertise
makes people interested in you and your company
Business opportunities will come to you this way
Before the web, industry insiders would meet at conferences
to network, share ideas, ask and answer questions, etc. This
discussion group is the conference show floor, 24/7!!
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Founded by Mark Walls,
Assistant VP Claims for
Safety National in 2008
 7,600 Members
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Work Comp Analysis Group
21% Employers
14% Carriers
7% TPAs
63% experience > 15 yrs
55% access daily emails or visit
3+ days/week
Quality discussions
The more contributions you
make, the more “influential” you
become
Marketing Strategy in the 21st Century
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Twitter’s Mission: Instantly Connect
People Everywhere to What’s Most
Important to Them
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On Twitter, anyone can read, write and share messages of up to 140
characters.
These “tweets” are public and available to anyone interested in them.
Twitter users subscribe to your messages by “following” your account.
Marketing Strategy in the 21st Century
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Mention: Reference specific Twitter users in your tweet by preceding it with the
@ symbol, i.e., “We’re glad you had a positive experience, @janesmith, thanks for
the kind words!”
Retweet: When you see a Tweet by another user that you want to share, click
Retweet below it to forward it to your followers instantly.
Hashtag: Attach a #hashtag to words in your Tweets to categorize them for
others. Users can then click on a hashtag to see other similarly-themed tweets
and find yours in search, i.e., “Attending #FWCI? Visit MedRisk, booth 314!”
Marketing Strategy in the 21st Century
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Ways to use Twitter for
Marketing:
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Monitor to see what
customers are saying about
your company and respond
quickly
Consider a campaign to
attract “followers” prior to
busy trade shows
Post timely updates during
trade shows to draw
attendees to your booth
Marketing Strategy in the 21st Century
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Marketing Strategy in the 21st Century
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Private and secure social network for internal use
Give and receive status updates across multiple departments
Customize information feeds to monitor current projects and issues
Share and work on documents with team members from a secure,
centralized platform
Managers can “follow” items most important to them and gain insight
into opportunities and obstacles
Marketing Strategy in the 21st Century
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Marketing Strategy in the 21st Century
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Digital Marketing Trends to Watch in 2012
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Search Engine Optimization (SEO): Content will trump
craftiness
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Google’s search algorithm changed in 2011 – game changer
 More results linked to timely and social relevance – less to esoteric
thinking
 You need to focus on timely and relevant content on social
platforms and in the media
Marketing Strategy in the 21st Century
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Digital Marketing Trends to Watch in 2012
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Influencer Management: Who wields the power
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Forget segmentation and think Klout
 Web users are being assigned influencer scores
 Youcast, Klout, more coming
 Some Las Vegas casinos already upgrading patrons with high Klout
scores
Marketing Strategy in the 21st Century
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Digital Marketing Trends to Watch in 2012
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Mobile and Tablet: New Marketing opportunities
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Tablet sales are greater than laptop sales
 Think “there’s an app for that”
 Think QR codes
 Think about customers being untethered
Marketing Strategy in the 21st Century
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Digital Marketing Trends to Watch in 2012
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Facebook for Marketing
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90% of social media time is spent on Facebook
 Marketing $s will start to move from traditional media
 Expect Facebook to evolve as well
Marketing Strategy in the 21st Century
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Digital Marketing Trends to Watch in 2012
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Think Video
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85% of Americans watch videos on-line
 1.5 billion videos a day!!!
 Studies show more customer engagement with brands that use
videos on their sites
 YouTube etal
Marketing Strategy in the 21st Century
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Challenges
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Measuring ROI is challenging
Control: losing it is nerve-wracking
Resources: Once you establish a presence you need to
maintain it, keep the conversations going, add valuable
content, listen and respond in real time
Other concerns: Legal / HR / Privacy / Reputation
Marketing Strategy in the 21st Century
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If you have questions specific to this presentation, please
feel free to email:
Ruth Estrich
Chief Strategy Officer
MedRisk Inc.
[email protected]
Thank you for your time and attention.
Now, I want to bring up the panelists for our next
session, “Getting Your Marketing ROI,” Michael
Erickson of MedRisk and Todd Veale of
Salesforce.com