The Digital Transformation of Insurance
Business Lessons from the #WorldCup: The Untapped Social Opportunity
July 01, 2014
Did you know 90% of UK Twitter users will tune in to watch the 2014 FIFA World Cup according to a recent GlobalWebIndex report? I’m one of them, and I’m cheering for the host team of Brazil, as my home team of Wales did not make it to the finals and England is sadly already out.
Brazil 2014 is expected to be the first World Cup where the majority of audience engagement will be on platforms such as Twitter and Facebook. The smartphone is also expected to be the preferred second screen to the TV.
- Twitter is the biggest online forum for World Cup conversations. Twitter World Cup timeline is dedicated to match updates, allowing users to stay up to date with the action through videos and photos.
- Facebook has “The Ref,” which acts as the “official” official of the tournament, providing colourful commentary and updates about matches.
- And, of course, a multitude of apps for the World Cup provide real-time updates directly to your smartphone, including FIFA Mobile, WatchESPN, Univision Deportes and BBC iPlayer Radio.
This interactive online community for the World Cup has me thinking about the way brokers and agents engage with customers. The social community is an untapped resource for many brokerages and agencies, creating opportunities to provide better customer service and increased access to prospects.
Why #socialmedia is key to enhanced customer communication:
It’s no secret that consumers use social media to complain, praise and source information. They talk with others in their network about where to find the best insurance policies or use social channels for information in a time of need, like in the aftermath of a storm. Social media should be part of every brokerage’s and agency’s customer communication and service strategy. It is a highly effective listening tool to keep track of discussions, enabling you to connect with your customers and support them when they need assistance. By monitoring social conversations, you can be more proactive when servicing customers and quicker to respond to their requests.
How your brokerage or agency can effectively use social media:
• Provide the resources customers need to make informed buying decisions
• Share accomplishments about your business and employees to build positive sentiment around your brand
• Listen to and ask customers about to their needs and concerns to identify how you can better serve them
• Keep customers informed in times of need (such as weather emergencies) and when policy changes could affect them
As we learned from the World Cup, customer communication is no longer simply about broadcasting messages over owned channels. Instead, businesses need to embrace social interaction, multichannel engagement and utilize more tactics to build a two-way conversation.
How are you engaging with your customers? Has it led to more sales or better customer service? Leave your comments here, and learn more about ways to engage with customers by reading our white paper on multichannel engagement.
Joe Sultana, Managing Director, Broker Solutions, Applied Systems UK, is responsible for broker relationships and support services for Applied Systems’ UK business. He came to Applied Systems in August 2013 following the acquisition of Insurecom Limited. He has held senior positions in both the IT and broking sectors spanning 20 years and has unique insight and understanding on how technology can be utilised to improve the industry and more specifically the broker market. Previously, Sultana joined Moorhouse as Operations Director in 2008 and led offshore and nearshore projects in Europe and Asia.