Also in this issue:
Strategic Advantage, Part I
A Rose by Any Other Name
Strategic Advantage, Part II
The Small Case Market
Are You Tweeting Yet?
Let’s Buy a Voluntary Insurance Company
Don’t Go Through 2010 Blind
Enrollment Practices
Is the Worksite Business “Recession Proof”?
A Moving Target
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Winter 2010, No. 82
Are You Tweeting Yet?
Does your company use social networking sites to connect with brokers and/or customers? If so, you are among the relatively small percentage who do. Eastbridge recently conducted a Frontline survey on the use of social networking sites by voluntary players.
As a group, only about one-quarter of those in the voluntary market (brokers, carriers, and others) say they currently use a social networking site. For those that do, Twitter and Facebook are most often utilized. In addition to those already using these sites, nearly half of all the survey respondents are considering one in the near future (with 64 percent of those expecting to in the next 12 months).
Most of those using social networking sites do so to promote their name and to attract new brokers and customers. Some also provide information or promote products and/or use the site to communicate with their brokers (70% of the respondents’ sites target current brokers). Only 30 percent of the respondents target employees with their social networking sites.
In terms of effectiveness, the majority (83 percent) believe that social networking sites do an average job of communicating with their target audience. Just 42 percent, however, said that their sites are effective in marketing the company’s brand and products, with 58 percent rating it “below average” for this category. No respondent ranked the effectiveness of these sites as above average.
Other interesting survey findings include:
- Most companies measure the success of their social networking sites by tracking site visits, messages, and the total number of followers or friends.
- Seventeen (17) percent of those currently using these sites admit that they do not really have a method for judging the performance of the site.
- Most companies using social networking sites have current employees monitor activity and comments posted on the site. The largest percentage, 58 percent, said the employee typically has marketing experience.
- Only eight (8) percent use an outside specialist to monitor the site.
- Seventeen (17) percent admit that they are currently doing little to no monitoring.
The study, Social Networking Websites and Voluntary Companies, is an Eastbridge Frontline Report. Frontline Reports provide timely data on hot or new topics. This report explores the use of social networking sites as a means for marketing and brand promotion in the voluntary market. Copies of the reports are only available to participants and Eastbridge Information Partner companies.
For information on how you can become an Information Partner, check out the article in this issue of Outside Input or give us a call.
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