Social Media-From Their Point of View
As so many followers of this column, I am a father of a 20 year old son and a 17 year old daughter (going on 40!) who like so many of us “old people” use some form of social media in our daily lives whether it is for business, pleasure, or education.
As a very active Past President of The Young Insurance Professionals of New York State and current School Board President of one of the largest school districts also in New York State, I am often asked the question by those in our age bracket “How do young people use social media and how can I capitalize on this…both from an education and marketing perspective?” This intrigues me because it was just a few short years ago that so many Baby Boomers were talking about how they would never open a Facebook account, or Tweet, or even shop or bank on the internet. This peaked my interest so much that I began to research this non-interest phenomenon, and as you may recall back in May of 2009 and many times thereafter, I discussed in this column about what exactly peaks Genexers’ and Millenials’ interest and what we can do as insurance professionals to be more effective in our advertising to this genre…from marketing for the purpose of selling insurance and also from the standpoint of attracting and retaining employees within this age category.
After spending some time researching this through a number of various channels, I received the following from Jeff Yates, Executive Director of ACT. It is an upcoming generations’ take on the technology trends that we discuss and follow within ACT, and in this column. As Jeff so eloquently states, “In this vein, I thought you would particularly enjoy an article written by Lauren Foy, who is a sophomore at the University of Rhode Island. Her article is an expanded version of an email she wrote to her dad, Mike Foy, an independent agent and active industry participant. Mike asked Lauren to provide her take on how her generation perceives and uses social media, by critiquing a recent Independent Agent article, Marketing to Millennials. Lauren makes a great case as to why independent agencies should get involved with social media and enhance the experiences they provide to their clients by combining the strong personal relationships they offer with online tools, such as a functional website and/or mobile apps.” Thank you, Jeff, for forwarding this to me.
A Millennial’s Take on Social Media
by Lauren Foy
“Marketing to Millennials” by Michael Fleischner is a good article discussing the way my generation would look at media and commercials. As I discuss below, I think most of the article’s points are on target. Some, however, are less important than others.
Have a Social Media Presence and Make it Genuine
I think one of the better points the author makes is: “Make sure your company has a space among social media outlets. Keep in mind though not tobe overly commercial. Millennials can see right through it. Rather, be genuine and let your prospective market understand what you’re really about and what you stand for.” While I am not sure how you can be insincere regarding matters of insurance, I think that the author makes a good point to be sure your target really understands what you are marketing. One example would be to not make a company look like a friendly personal environment when chances are a customer would have to get through many automated messages or new employees each time they try to contact the company. This just makes people angry. This is common sense, but I do think it has become more relevant in the age of the Internet. Finding a company on the Internet is a lot more of a guessing game than getting personal recommendations or knowing the right people. If you are trying to attract people through this medium, it is much easier to do so when the message and the reality are matching. Engage on a Personal Level
Another point the author made was to “Communicate on a personal level.” This is an easy thing to do with blogs or Facebook, etc. I have become a “fan” or “liked” a few companies that I never see again. I have done the same to others, which now seem to haunt my Facebook. I think a medium level of posts is good. If you are on someone’s Facebook home screen too much with uninteresting comments, you are more likely to get hidden. However, I can think of two companies that I see on my Facebook a lot and I am more likely to consider them when I am in the market. The way they do this is by posting relevant posts and doing it on a consistent, reasonable basis.
One company usually posts a fact, story or comment relevant to their product and ends the post in a question. This gets a lot of feedback and then is likely to show up on more people’s home screens. Don’t ask me how to take this skill from a sales company and make it relevant to insurance, but this is just one idea. My generation feeds on being “heard” and finds it so appealing that we give more attention to the social media sites that try to engage us.
I learned in my persuasive writing class that the best way to be effective in a blog setting is to use a question at the end so readers will feel like they have a say in your opinion and the topics covered. A good way to use this technique is by making a point with your question or crafting one that will get a lot of response from both sides. This will help to get positive feedback as well as some insight into the opposing side.
Be Consistent & Creative
Two additional points made in the article are also good ones: be consistent and creative. These qualities help capture the attention of an otherwise preoccupied generation. While we are always multitasking, it is hard to pay complete attention to the radio (online or live) or the TV while trying to do homework, or whatever we might be doing. So consistency and repetition are good tools to use. Creativity will always help a website when dealing with my generation. Also, I am always drawn to the website that looks more professional and attractive. For a generation that has grown up dealing with the Internet, a functional and appealing website shows that the business is viable. Info & Contacts Must Be Easy to Find One point missing from the article, which is very important to understand when dealing with my generation, is that for the most part we expect instant gratification. Everyone grew up with the Internet getting faster and faster, providing answers to everything at our fingertips. With the invention of online radio, DVR/TiVo/Live Rewinding and Pausing features, the iPod and the prevalence of smart phones, my generation grew up having everything we wanted whenever we wanted it. I think this is a very important and sometimes negative aspect of my generation. Since we are so technologically literate, we have access to hundreds of websites selling the same thing. We have the knowledge to navigate our way through a website, but I doubt most of us have the time/patience. We gravitate toward information, forms and products that we can find now. I think this is an important aspect to marketing, because you can draw all the attention you want to your website, but if it is not easy to navigate or to find a way to contact someone, I think a good many prospective customers will drift to their second choice.
How I Use the Internet to Shop
I use the Internet for almost all of my shopping. If I am at a shopping center and I need something, I will buy it there, but most other times, I will just rely on the Internet. I have always found it more convenient to go to a website for what I might need than to find a store. Websites usually are easier to navigate, have more options and are faster than traveling to a store. Generally I will start with a website that I have used before and have had a good experience with. If I have a longstanding relationship with a company, I usually will just trust that they have the best price and not look any further. However, if it is a new website or one I have not used a lot, I will tend to look around the Internet for a better deal, and if I can’t find one, I will come back to the first one. I think that my generation would rather not take a day to travel around and price shop when they could just get the same amount accomplished in a much smaller period of time on the Internet. Many in my generation would rather do something on the Internet than pick up the phone and call. As a generation, we seem to be more comfortable with the Internet than with a phone call. For the most part, I have found the Internet to be a reliable buying outlet, so there has been no reason to use another means of shopping. A few unappealing encounters can teach an Internet buyer to look into the company before buying from them. It is easier for a company to lie about their product when it is being presented on a webpage. This is where the relationship with a company comes into play. If you have bought a product with them that wasn’t what it said it was, then a bad relationship is created.
Growing up with the Internet makes it so much easier to use this resource to go shopping, do homework or anything else we might need.
Personal Relationships Are Still Important
Personal relationships are still important for some things. I look at these relationships in a similar way to a website, in the sense that if I had a positive relationship with a store or service, then I am more likely to return again. If the experience was negative, I will not return. There are a few things that I will never buy online, one of them being a cell phone. I got my first cell phone from a sales representative, Stan, and I have returned every time I needed a new phone or anything else cellular. On the other hand, there are companies I will never return to based on bad experiences. I am currently in the process of cancelling one of my debit card accounts because of such bad customer service. Customer service is where people establish relationships, and if the goal is to attract Internet users to come into an office or even pick up the phone to speak with a person, relationships play a huge role. Going back to the example of Stan, I have many opportunities and online resources to buy a cell phone or accessories on a website, but due to the strong relationship with the store personnel, I am always drawn to return there rather than go to the Internet. These personal relationships give the customer a respect for the opinions and suggestions of the service representative that one cannot get from a website or a customer service representative in a call center. In a perfect situation, there would be a strong relationship with the personnel of the business, coupled with the support of a functional website and/or mobile app. Providing that personal relationship enhanced by these online tools is the best way to get my generation off the Internet and into the office.”
With Spring in the air (as it has been all winter), PIA of CT held its annual conference and trade show at The MGM Hotel and Casio at Foxwoods in March, and once Connecticut agents came away a winner!
Newly elected President, Timothy G. Russell, CPCU of the Russell Agency in Southport, CT, announced the association’s latest member benefits and urged professionals to share one of the industry’s best secrets; during his inaugural presentation at the conference. Mr. Russell told his audience of some 400 agents and industry professionals that staying active in PIA has helped his own agency. He recognized the partnership PIA members receive, that includes a staff of nearly 80 individuals working specifically to ensure its members prosperity. He also announced a multitude of new benefits PIA introduced in the first quarter of 2012. “As we always do, PIA has updated our marketing materials this quarter, staying ahead of the technology curve,” Mr. Russell said. Mr. Russell urged independent agency principals to help themselves and their agencies by making use of the association’s promotion of young employees into the industry by pushing them to join the association’s Young Insurance Professionals organization.
In addition to the election of their new President, the 2012-13 officers of PIACT are as follows:
• President-elect: Brian Schmitt Sr., President of Curtiss, Crandon & Moffette Inc. in Trumbull
• Vice president: Augusto Russell, CIC, partner at May, Bonee & Walsh Inc. in East Berlin
• Vice president: Peter Frascarelli, CPIA, Chief Operating Officer for the Peter M. Bakker Agency Inc., in Avon
• Treasurer: Teri Walsh, Vice President of Sachs Walsh Insurance in Westport
• Secretary: Marissa Barbera, Vice President of Charter Oak Agency in Darien
• Immediate past president James R. Berliner, CPCU, president of Berliner-Gelfand & Co. Inc., in Bridgeport, Conn The Connecticut Young Insurance Professionals and Professional Insurance Agents of Connecticut Inc. presented Allyson Kataja with its Young Insurance Professional of the Year award This award is presented by CTYIP to honor the hard work and dedication of a member of the association’s board of directors who has contributed a great deal of time and talent to help support the association and its programs. An active member of CTYIP, Ms. Kataja will serve as treasurer for 2012-13 and is co-chairperson of the Membership Committee. “Allyson’s tireless commitment to CTYIP and the industry as a whole is to be commended,” said Shannon Rabbett,CIC, President of CTYIP. “She has earned the respect from her colleagues and customers that she deserves. CTYIP is proud to present her with this award.”
Howard Olderman, of Milford, CT, received the Professional Insurance Agents of Connecticut Inc.’s Professional Agent of the Year award. The Professional Agent of the Year award is given to an agent who has demonstrated excellence and achievement in insurance marketing and service; has shown a personal commitment to professionalism; and has contributed to PIA and the community. “Throughout his career, Howard has demonstrated a deep level of dedication to our industry. He has earned the respect and trust of his colleagues and customers,” said Timothy Russell, CPCU, newly elected, president of PIACT. “PIACT is very pleased to give Howard this award.” Mr. Olderman is president of The Olderman & Hallihan Agency Inc. in Ansonia, CT.
An active member of PIACT, Howard served as president for 2010-11. He also serves as chairperson of the Administrative/Nominations Committee and is a member of the Executive/Budget & Finance and Legislative/Business Issues Committees. In 2007, Mr. Olderman received PIACT’s Committee Chair of the Year award. He was honored for his service as chair of the Legislative Committee. This award honors the PIACT volunteer who best demonstrates dedication and effort in chairing one of PIACT’s committees.
Connecticut Insurance Commissioner Thomas B. Leonardi reviewed his first 14 months in office and shared his thoughts about industry and oversight and current legislation during the state’s short session as part of his keynote address to the attendees of the luncheon. Thanking the association for the opportunity to speak, Commissioner Leonardi noted Gov. Dan Malloy’s commitment to the state and his support of the industry. Sharing that his return to the state as commissioner was prompted by what he characterized as “an exciting and significant time for the state of Connecticut and the industry,” he remarked that federal and international activities will impact the industry and its clients throughout state, including the health and property/casualty fields, in “a dramatic way.” Mr. Leonardi discussed Connecticut’s rich history in the insurance industry as one of the oldest insurance departments, formed in 1865, and lamented that he often hears people say the state “used to be the insurance capital.” “We have to stop feeling sorry for ourselves,” he said. “We are the insurance capital and I, and I know the governor, will make sure that continues.” To demonstrate the state’s significance in the industry, Mr. Leonardi cited that Connecticut currently is recognized as “sixth or seventh in insurance production in the world.” He told the audience that Connecticut has the highest concentration of insurance jobs, and the city of Hartford has the highest concentration of actuaries, in the world. On a per capita basis, he said, Hartford is the third-largest metro area per capita, behind only Oslo, Norway and California’s Silicon Valley. Bridgeport, CT, he said, is number five.
“We are trying to fix problems without over-regulating, or requiring too much capital investment so that it doesn’t drive out companies because they can’t afford to do business,” he said. “We want to regulate appropriately, holistically and not have a knee-jerk reaction.” The Commissioner also discussed current bills in state legislature. Noting the short session, he said one of the top priorities is H.B.5230, which would address the inconsistencies among carriers with regard to hurricane deductibles. He has urged the Legislature not to pass the law, as the CID bulletin issued post-Irene clarifies that carriers should identify a hurricane as when a warning by national weather service has been issued and the state experiences sustainable winds of 74 miles per hour.
The Commissioner also discussed H.B.5386, a consumer protection bill that PIA and the Commissioner both support, which includes a provision that would allow producers to file excess-and-surplus lines affidavits electronically, eliminating the need to physically file them. Mr. Leonardi said the department will continue to oppose S.B.318, a bill to eliminate single-limit liability for auto policies, saying it is “bad for consumers and reduces consumer choice.”
With regard to H.B.5487, concerning health care for small businesses, which is of interest to agents and brokers as small businesses; Leonardi said he has not taken a position, but provided input to lawmakers about it. Federal health care reform will have higher premiums for younger people; and because the bill does not make any adjustments for that, the commissioner suggested graded implementation over time instead. Further, he contended, many issues in this bill will be moot after two years when federal bill is implemented. The commissioner also discussed what he called the “enormous undertaking” of the federal requirement of implementing a health-care exchanges, and received welcome applause to his clear statement that he believes it is “very important that health insurance should be sold only by registered agents.”
Finally, he discussed the CID’s efforts to increase communication and outreach, including the production of public service announcement that stresses the importance of getting an annual “Insurance Checkup,” by urging consumers to speak with their agents once a year to review and understand their coverage. He also noted the promotion of the Department’s 800-number Consumer Helpline, a special Web page that offers resources and FAQs for seasonal risks and agency’s increased use of social media including Twitter, Facebook and YouTube. In recognition by PIA of CT,
Representative Gerald Fox III, was named this year’s Legislator of the Year. Mr. Fox is currently serving his fourth term serving Stamford’s 146th District in the House of Representatives. He has co-chaired a special task force on Domestic Violence in Immigrant Communities; served on the National Conference of state Legislatures’ Law and Criminal Justice Committee, and he is a member of the legislature’s Government Administration and Elections Committee, as well as its Transportation Committee. He also serves on the Council of State Governments’ Criminal Justice Board of Advisors. “Rep. Fox’s support of his community and his accomplishments as a lawmaker and his understanding of the insurance industry have made him a friend of the association and to the insurance-buying public of Connecticut,” said PIACT newly elected President Timothy Russell, CPCU. “We are very pleased to name him the PIACT Legislator of the Year.” In the final award presented at the conference, Travelers’ David F. Coyle wins PIACT Company Rep. of the Year award. Congratulations to everyone for what you do for this thing of ours!
Well, that about sums up the past couple of weeks, and please stay tuned to this column for additional updates on what else is going on around town. Ciao for now!
