PEMCO s Playbook: Using Social Media to be a Little Different

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3 PEMCO s Playbook: Using Social Media to be a Little Different

4 Rod Brooks Vice President & Chief Marketing Officer PEMCO Mutual Insurance Company Jeff Weeks Vice President & Chief Information Officer PEMCO Mutual Insurance Company

5 Who is PEMCO? World-Class Customer Experience PEMCO BUSINESS MODEL Integrity Responsibility Courage Leads with relationship

6 Our vision PEMCO gets it! Voice of the Customer PEMCO is the Northwest insurance company that gets it. An organization that s great to do business with, one that shares the values of those who live here, one that s genuinely likeable. It s the first choice of responsible people.

7 Insurance is The law Not valued Not trusted Not well understood

8 Can only win by losing

9 Challenges: Old and New. 1 Industry 2 Highly regulated industry Product perceived as a commodity Insurance is an unsought product Environment Consumers heavily influenced by peers, friends, even strangers online New & unfamiliar channels are sustaining brand conversations

10 Jerry McGuire syndrome can be contagious! Show me the money Show Me The Money!

11 Four billion dollars is like brand magic! Car insurance is anything but conservative when it comes to marketing these days! Doling out dollars once reserved for categories like beer and travel Spending - $4.15 B more than twice industry spending in Industry growth all lines up 2.7% in same time period.

12 Four billion dollars is like brand magic! Everything is working. The one thing I don t want to have stand in your way is money. That s what I ve got. We wanted to kick Flo s ass! Nobody wants to sit around and talk about car insurance We needed to entertain Get people s attention....we re not slowing down until we get the job done. And our job is to capture the hearts and minds [of potential customers]. Warren Buffet -GEICO Nina Abnee Leo Burnett Agency for Allstate Pam El, Marketing V.P. State Farm Insurance

13 Four billion dollars is like brand magic!

14 Four billion dollars is like brand magic!

15 Four billion dollars is like brand magic!

16 Four billion dollars is like brand magic! Top 5 Carriers Spent $2.39 Billion Dollars In 2009

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18 Our BHAG: Big Hairy Audacious Goal Never have to advertise for a lead again PEMCO customers can t stand the thought of friends & family doing business with anyone else.

19 When all you have is rocks, you need a better plan.

20 Battle Field Challenge Status Quo Highly Nimble Innovative & Creative Well Defined Strategies Leverages Partnerships Capitalizes on WOM of loyal customers Builds Fierce Advocates Challenger Brands No one roots for Goliath!

21 Tools in the toolbox 21

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30 WOM conversations about insurance Over the past two years, likelihood to talk about auto insurance has increased from 16% to 24%. Likelihood to have a conversation about PEMCO s ads has doubled (from 8% to 17%). Tri-County Preferred Drivers January 2008 April 2008 Nov 2008 March 2009 September 2009 Had a conversation about auto 16% 23% 24% 20% 24% 24% insurance in the past month. In-person conversation 95% 85% 86% 95% 90% 93% Online conversation 12% 19% 14% 12% 17% 9% Talked about PEMCO 17% 19% 24% 22% 22% 23% Talked about GEICO 39% 51% 13% 56% 31% 35% March 2010 Had a conversation about 8% 15% 17% 21% 22% 17% PEMCO s ads in the past month Not asked in June 2008 Percentages of those having conversations about auto insurance are based on the total sample Percentages of those having conversations about PEMCO s ads are based on those who remember PEMCO ads. 30

31 Why did they buy? (statewide preferred market) For the first time, in 2010, referrals and recommendations are just as important as price in understanding why people make their buying decision. Reason Price 60% 62% 50% 50% 36% 40% 33% Referral and/or Recommendation Market 10% 12% 17% 20% 22% 22% 32% Liked the agent 15% 11% 9% 9% 9% 9% 13% Good service 33% 23% 5% 4% 9% 4% 10% Local company <1% <1% <1% <1% 9% 6% 7% When you first chose to purchase auto insurance with (carrier) why did you select this company for your insurance? 31

32 Why did they buy? (statewide preferred market) For the first time, in 2010, referrals and recommendations are just as important as price in understanding why people make their buying decision. Reason Price 60% 62% 50% 50% 36% 40% 33% Referral and/or Recommendation Market 10% 12% 17% 20% 22% 22% 32% Liked the agent 15% 11% 9% 9% 9% 9% 13% Good service 33% 23% 5% 4% 9% 4% 10% Local company <1% <1% <1% <1% 9% 6% 7% When you first chose to purchase auto insurance with (carrier) why did you select this company for your insurance? 32

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34 Why should IT care about Social? 1. Consumer Expectations 2. Millennial Employee 3. Ease of Use 4. Transforming our Intranet Site to Social

35 Consumer Expectations Any time, any where, any device Applets Browser Post to my wall Poke me when there is activity on my account

36 Millennial Employee This is how I think I want my social tools at work I want to work anywhere I have better equipment and access at home I m m bored

37 Ease of Use With minimal data about you we can gather the rest Based on your social profile we can perform preference analysis and tailor your experience Prefill transactional Data Requirements This is going to become more accessible and acceptable.

38 Transforming our Intranet Site to Social Corporate Site Department Site Group Site

39 Internal Sharing Yammer slide goes here Share Voice of the Customer

40 My Site Internal Work and Social Space You choose what you want to share Files Content Contacts Social Internal Social External

41 Departmental Site for each Department Filtered for the viewing audience Files Content Other Calendar Activities

42 Group Site Collaboration / Content Sharing Protected site for collaboration site owner decides if/what to share Files Content Other Calendar Activities

43 Tying it together through Outlook Presence People Pane with My Site

44 How far will you integrate?

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