kip gregory limra seminar advisor best practices in social media marketing

Advisor Best Practices in Social Media Marketing

presented by

Kip Gregory, Principal of The Gregory Group

LIMRA/LOMA Social Media in Financial Services Seminar

August 26, 2010

Windsor, CT

© 2010, Kip Gregory—The Gregory Group. All Rights Reserved. 2

© 2010 Kip Gregory. All Rights Reserved.© 2010 Kip Gregory. All Rights Reserved.

The following presentation was delivered at the LIMRA/LOMA Social Media in Financial Services Seminar in Windsor, CT in August 2010. 

Kip Gregory addressed an audience of marketing, distribution, IT, and compliance/risk management professionals from more than 50 companies across the insurance industry about the impact of social media on traditional distribution of life insurance. 

Kip’s remarks focused on how and why current social networking sites such as LinkedIn represent a significant breakthrough in the way insurance agents manage relationships, identify business development opportunities, and control the referral process—and what management at forward‐thinking life companies should be doing right now to support andlead their organizations on the compliant adoption of this new technology. 

This material has been provided to attendees of the seminar solely for personal review of its content. The slides may not be altered in any way, republished or excerpted without the prior expressed written consent of Kip Gregory. 

Please contact Kip via phone or email (below) with questions about this material or to discuss how LIMRA and The Gregory Group can help your organization successfully incorporate social networking into your existing distribution efforts. 

(202) 364‐6913kip@gregory‐group.com

August 30, 2010

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A Little BackgroundA Little Background

• 13 years teaching organizations how to harness existing resources to increase sales productivity and profitability

• Author of Winning Clients in a Wired World

• Consultant and speaker

• Launched GE Capital’s life insurance business

• http://www.kipgregory.com

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Hierarchy of IssuesHierarchy of Issues

UtilizationUtilization

RegulationRegulation

SupervisionSupervision

Education

Rules

SystemsThe Gregory Group

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3 Ways Social Networking Accelerates Selling Success3 Ways Social Networking Accelerates Selling Success

• Puts you in control of the referral process

• Improves your branding

• Helps uncover hidden connections to prospectsThe Gregory Group

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What Drives Sales?What Drives Sales?

• An agent/advisor’s best source of new business is…

– Advertising

– Cold calls

– Direct mail

– The Internet

– Referrals

– Seminars

– Other

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What Drives Referrals?What Drives Referrals?

• Most referrals and introductions start with…

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The Pipeline ParadoxThe Pipeline Paradox

• Referrals drive growth

• Asking feels awkward

• Opportunities missed

• Business goes elsewhere

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Who do you know…?

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Who do you know…?

Hmm… who DO I know?

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I wonder who he knows…

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X X

X

X

XX

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“I’ve put together a short list of folks I think you know and wondered if you’d help me identify who 

might be worth talking to first?”The Gregory Group

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kip gregory

Improve Your BrandingImprove Your Branding

How easy is it for others to find the “you” that you want them to see?

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Improve Your BrandingImprove Your Branding

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Uncover Hidden Connections to ProspectsUncover Hidden Connections to Prospects

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An Easy, Free Research AssistantAn Easy, Free Research Assistant

• Google News

– Specialty search engine

– 25,000+ sources

– From real‐time results to 100 years of history

– Scan complete articles… or only headlines

– Pinpoint by geography or publication

http://news.google.com

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type your search terms here

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Key Words & Phrases for Flagging OpportunitiesKey Words & Phrases for Flagging Opportunities

acquired

announced

appoints

awarded

contracted

donating

downsizing

elected

expanding

funded

hiring

joined 

laying off

merging

meeting

named

opened

promoted

published

purchased

reported 

relocating

retiring

selling

surveyed

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Key Words & Phrases for Flagging OpportunitiesKey Words & Phrases for Flagging Opportunities

• “has been appointed”

• “plans to hire”

• “intent to acquire”

• contract “has been awarded”

• announced “has acquired”

• “has been promoted”

• “has been named”

• “elected to the”

• “will lay off”

• “has stepped down”

• “spinning off”

• “will be joining the”

• “will be relocating”

• “opened a new office”

• “report released”

• announce merger

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Key Words & Phrases for Flagging OpportunitiesKey Words & Phrases for Flagging Opportunities

• “million in (cash OR stock)”

• reported earnings

• “record earnings”

• “assumed responsibility for”

• “plans to restructure”

• “will be responsible for”

• “personnel changes”

• awarded contract

• sold shares stock

• “plans to sell”

• “recently named”

• “plans to open”

• issued “request for proposal”

• “to cut * jobs”

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Papers that Publish Changes RoutinelyPapers that Publish Changes Routinely

• Albany Times Union

• Buffalo News

• Charlotte Observer

• Cincinnati Enquirer

• Daily Record (NJ)

• Denver Post

• Des Moines Register

• Detroit News

• Long Island Newsday

• Philadelphia Inquirer 

• Saint Louis Post Dispatch

• Salt Lake City Tribune

• San Diego Union Tribune

• Seattle Times 

• Tampa Tribune

• Tennessean (Nashville)

• Washington Post

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S M T W T F S

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http://news.google.com/news/advanced_news_search

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http://news.google.com/news/advanced_news_search

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http://news.google.com/archivesearch

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What’s Newsworthy to You?What’s Newsworthy to You?

• People & Organizations– You– Clients– Prospects

• Topics– Industry– Occupation– Special interests

– Referral sources– Centers of influence– Competitors

– Legislation– Community– Events

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http://www.google.com/alerts

Track Your Search Terms AutomaticallyTrack Your Search Terms Automatically

• Google Alerts

– Free digital clipping service

– Tracks news & other categories of content

– Delivers information automatically

– Easy to set up and edit

– Perfect complement to Google News

News

Blogs

Video

Discussions

EverythingThe Gregory Group

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http://www.google.com/alerts

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Social Media are Here.  Are You Ready?

presented by

Kip Gregory, Principal of The Gregory Group

LIMRA/LOMA 2010 Compliance & Market Conduct Exchange

March 25, 2010

Orlando, FL

The Gregory Group

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http://www.linkedin.com

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david cole orlando

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Gain Insight through People You KnowGain Insight through People You Know

“I just read an article about someone I think you’re acquainted with and wanted to get your advice on 

the best way to approach them…”The Gregory Group

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Connecticut’s Fastest Growing Private CompaniesConnecticut’s Fastest Growing Private Companies

• Easy Seat

• Tangoe

• Open Solutions

• FM Facility Maintenance

• Ticket Software

• Higher One

• Oakleaf

• Premier E‐Security 

• SS&C Technologies Holdings

• Affinion Group Holdings

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tangoe

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Develop Your PipelineDevelop Your Pipeline

Who owns—or runs—a company that employs 50 or more people and is within 25 miles of Hartford?The Gregory Group

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Develop Your PipelineDevelop Your Pipeline

• Search criteria

– Title: ceo (current)

– Location: United States

– Postal Code: 06103 (Hartford, CT)

– Within: 25 miles

– Company Size: 50+ employees

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Climb the Learning CurveClimb the Learning Curve

How do you get from hereHow do you get from here……to there?to there?

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How do you get from hereHow do you get from here…… to there?to there?

Climb the Learning CurveClimb the Learning Curve

Become Aware

Develop Skills

Apply Knowledge

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Climb the Learning CurveClimb the Learning Curve

1. Profile(s)

2. Network

3. Usage

4. Knowledge

5. Benefit

6. Credibility

7. Leadership

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Ways The Gregory Group Can HelpWays The Gregory Group Can Help

• Facilitate dialogue

• Formulate and implement strategy

• Educate and train

• Coach and mentor

• Design and deliver value‐added content

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To Learn More…To Learn More…

Kip GregoryPrincipal, The Gregory Group4425 Warren St NWWashington, DC 20016202‐364‐6913kip@gregory‐group.comwww.kipgregory.com

Contact us:

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