When social media first surfaced, many people speculated that this was not going to be a marketing platform that ALL companies would utilize. Many felt the social media marketing would not be beneficial for all industries. Why, you might ask? Mostly, this was because of the private nature of some industries such as banks, insurance agencies or accountants. Privacy issues with social media will always be a concern, but having a social media policy within your company is a great idea to avoid these exposures all together.
Skeptics were unsure of how a public forum such as social media would fit the marketing needs of private entities. The insurance industry responded by proving these skeptics wrong! Today, it is understood that social media can be used to grow a business in any industry when used properly. Social media is a great fit for the insurance industry, after all, it’s all about the people!
Technology is everywhere. Organizations who fail to take this fact and consider it at all times in strategic initiatives will find themselves behind the competition. I work for an insurance company. We can be honest, I am sure when most people outside of insurance think about the industry, they might not think that the industry is at a level of sophistication which aims to keep up with new trends in technology. However, I can tell you that if you do have this preconception, you are wrong.
I sat in on a meeting this morning regarding attracting young talent into the industry. To add context to this discussion, I can tell you that a lot of the industry consists of Baby Boomers preparing to retire, and the race to fill the company with Generation Y to eventually fill those top level positions is alive and well. Insurance companies are using vehicles like Facebook, Twitter and Linked In to help target talent within this scope. Here are a couple of examples of how the industry is using social media, particularly with Facebook.
Insurance companies are beginning to use these tools as part of long-term strategies to target younger generations, as younger generations tend to use these tools to interact on a daily basis. If companies can create brand awareness with these tools, they feel that they will be more attractive to young talent. Depending on the strategies companies choose to utilize, this may indeed be a successful way to better penetrate the targeted group. If used correctly, these tools can become educational resources for younger professionals who may not be as informed on what the industry has to offer them. Creating more brand awareness has the potential to not only pave the road to young professional and their careers, but also to their business as policyholders as well.
Does learning that such a conservative industry is strategically mapping out the use of social media in everyday functions surprise you? Do you have any thoughts on how social media can be used to attract younger talent?
