The firm’s vice president of global marketing, claims that insurers’ social media interactions tend to be carried out in a ‘fun’ way. Pope claims that using this approach as means to build and retain relationships with customers is ‘riddled with risk’ for insurance firms and financial institutions.
She claims that social media campaigns launched by insurers and financial institutions should be centred on a ‘process-driven’ strategy, as opposed to the conventional approach which is ad hoc and reactive.
“By process-driven, I mean the social media campaign is shaped more by an overarching detailed strategy and less by impulse,” said Leah Pope.
“All actions should be aligned with what is effective for the business rather than arbitrary goals such as Facebook likes,” Pope added.
As more and more financial services firms embrace digital technology and marketing approaches, social media strategies are becoming an important method of communication with customers.
According to KPMG study, more than four fifths of insurers are planning to utilise digital technology as a means of improving client relationships within the next three years.