Archive for: September, 2010
As insurers and their agents follow customers into social media, most insurers are still determining how to best ensure compliance with regulations and business policies. In the last year, insurers started adopting social middleware solutions to empower employees and agents in social media with audit trails and usage boundaries that ensure appropriate compliance. While social middleware solutions do help insurers, employees and agents to comply while engaging in social media, insurers still need to proactively mine the conversations occurring outside of the social middleware to adequately manage compliance risks in social media. And only a listening platform with access to 100% of Twitter data can provide an insurer with reliable, consistent monitoring for compliance purposes.
The Need for Compliance Listening
First, most insurers do not directly control the social media tools their agents use. Many agents and brokers are independent; they are not employees of any insurer. As a result, when an insurer deploys social middleware, many agents will not adopt it right away, and many agents or brokers may never adopt it. That leaves a tremendous volume of agent and broker conversations that the insurer simply cannot control through middleware.
Even if an agent chooses to utilize the social middleware provided by the insurer, the middleware may not integrate all of the social utilities or properties used by the agent. For example, it may not include their blog or agency web site.
Further, insurers who block employee access to social media at work cannot control employee access to social media through personal mobile devices, or on personal time.
And social middleware solutions do not capture conversations between customers, where no employee or agent is directly involved.
In the Conversation Mining™ work that Converseon performs for clients in regulated industries such as insurance, banking, pharmaceuticals and utilities, we frequently discover customers providing each other incorrect information that the brand must work to correct. Of course, a brand can address such incorrect information only if the brand is aware of such information. And developing that awareness requires a social listening platform.
Ultimately, the only way to reliably ensure compliance with regulations and corporate policies within social media is to implement a Conversation Mining™ solution that continually or periodically mines online conversations for the types of content that can indicate a potential violation of policy.
Why the Firehose Matters
If an insurer’s customers, agents or employees utilize Twitter, then the only way to reliably monitor compliance within Twitter is to use a Conversation Mining provider with access to 100% of Twitter data; and that requires an official partnership with Twitter.
As many folks have pointed out, any listening platform without the firehose can only provide insight and access to a small portion of Twitter data. On the other hand, the Twitter firehose gives a Conversation Mining provider access to 100% of the conversations occurring on Twitter.
Anyone without official firehose access must use the public API, and, as Danny Sullivan wrote on SearchEngineLand, “The Twitter API allows partners to conduct searches at Twitter automatically, to bring back data to someone based on those they’re following or tap into Twitter data in other ways. However, the API limits how much data can be requested and does not give access to everything Twitter has stored.”
Therefore, if your listening provider is not an official Twitter firehose partner, you simply will not be able to access most of the conversations occurring in Twitter. Your listening solution will be incapable of mining the majority of tweets passing through Twitter, and, therefore, you will miss the vast majority of potential and actual compliance risks.
And Converseon is the only listening platform in the recent Forrester Wave report with access to the Twitter firehose. If your listening provider asserts that they are giving you 100% of Twitter data, you should ask for documentation.
The Role of People in Compliance Monitoring
According to Twitter’s most recent estimates, approximately 90 million tweets flow through Twitter each day. And the volumes increase all the time.
In 2007, 5,000 tweets were posted each day. By 2008, up to 300,000 tweets were posted each day, and, in 2009, 2.5 million tweets flowed through Twitter every day. In the past year, Twitter volumes grew 1,400% over the previous year. As Twitter COO Dick Costolo recently confirmed, Twitter sees approximately 190 million users per month, and most everyone expects Twitter’s growth to continue.
With 90 million tweets per day (and growing), it is absolutely essential to configure your listening platform to filter out as much irrelevant data as possible, and that requires three things:
- Keywords framed in boolean queries,
- Constructed by social data analysts,
- Who are experienced in working with companies in regulated industries
If you simply assign someone on your team to enter keywords into your listening platform, you will be challenged to filter the data to your satisfaction. Your listening team will become inundated with tweets that match the keywords, but have no relevance for compliance purposes.
Only by using keywords framed in Boolean queries, constructed by analysts experienced in working with regulated industries, are you able to ensure the most relevant data to your compliance management team.
Converseon combines the best of automated and human analysis in our Conversation Miner™ suite, which is utilized by a wide range of leading brands to help map, monitor and understand the vast social media conversation. The Conversation Miner™ listening solutions are designed to be customized to meet specific enterprise environments to provide a central, robust and highly configurable listening platform across multiple languages, regions and organizational use cases to help create listening organizations.
The Complete Solution for Insurers
The chart below illustrates each element of a complete social media compliance management solution for insurers, which includes six important elements:
- Social middleware that restricts access to features based on policy, archives for compliance, and provides supporting metrics
- Agents and employees trained and equipped for success in social media
- Clear policies that are regularly updated
- Proactive identification of compliance and business risks from online conversations
- Compelling business insights mined from conversation data
- Compliance Management staff trained and equipped to enable compliant pursuit of business outcomes
All insurers realize that their customers, employees and agents are engaging in social media. Most insurers want to make it easy for their employees and agents to use social media with success and compliance every day. For insurers with customers on Twitter, Converseon is the only listening platform that can give you comprehensive and reliable compliance listening within Twitter.
Converseon embeds its Twitter firehose access in all of our listening tools and research reports, so our clients can rest assured that they are reliably managing the risks inherent in thousands of employees or agents engaging with customers in the public eye online.
Insurers with an interest in comprehensive, reliable and scalable monitoring for compliance management should contact Converseon at firstname.lastname@example.org.
Last week Converseon was pleased to have been recognized as a finalist for Social Agency of the year in the SAMMY Awards (we won the inaugural award for Best Social Media Agency last year, so were understandably underdogs to win it two years in a row). It’s testament to our hard work to continue to evolve our solutions, fully integrating social listening, operational consulting and activation for an end to end social approach. The recognition was in part due to our very rapid growth (110% YOY), addition of top clients, the evolution of our technologies (including leadership recognition in Listening Category), the maturation of our strategic management consulting and international expansion.
Of course, the real judgment is based on the company we keep and the results we deliver to clients. Thus, we were especially pleased to win the SAMMY recognizing our work with IBM for Best Socialized Business.
“We thought that the SAMMY for Best Social Business should go to the most forward-thinking company that uses social media to build their company culture and brand, and make listening a core competency,” said Nick Friese, CEO and founder of DIGIDAY, the organizer of the SAMMY Awards. “IBM’s C.O.R.E. approach is an innovative and exemplary approach for social intelligence and this recognition demonstrates the importance of listening in social engagement.”
We thank IBM and our team for their dedicated hard work in making social intelligence actionable. It’s one thing to provide pretty charts on what social strategies should look like in large enterprises, but quite another thing to actually be able to make it happen. We are only as successful as our clients, so a recognition of effective social intelligence and media in action is the real reward.
What is the relationship between social good and social media?
This is the question I was trying to answer while attending the Mashable and 92Y Social Good Summit. And after listening to some brilliant presentations from Jessica Jackley of Kiva, Geena Davis of See Jane (and of course A League of their Own) and Matthew Bishop of The Economist, it seems that Bonin Bough of PepsiCo really had the best handle on the topic.
It is likely no coincidence that consumers’ increased desire for brands to be more socially involved and ethically responsible is surfacing at the same time as the use of social media and online engagement explode globally. Consumers everywhere are taking the time to voice concerns and desires that have long been on their minds but were unable to share quite so easily.
The truth of the matter is that being a good corporate citizen is not just a nice thing to do with some extra cash anymore; it is a legitimate part of a marketing strategy intended to grow a customer base, increase market share and ultimately drive profits. Customers care. And more and more they expect brands to be more than just a clothing retailer or technology distributor – customers expect brands to care as well.
So, what does all this mean? Take the lead of PepsiCo and start making a difference. After all, the Pepsi Refresh Project has already attracted more votes than the most recent presidential election. Increased brand awareness? Check! Increased consumer engagement? Check! Increased brand advocacy? Check!
Social technology allows us to communicate differently with one another and the story of social good allows us to engage more meaningfully, so pick a great cause and go for it! Get involved and tell people about it. It will be worth it, in a myriad of ways.
Looking for a little inspiration? Watch PepsiCo’s Bough chat with Jack Leslie, Chairman at Weber Shandwick.
As usual, Google drops a new feature, and the blogosphere becomes overwrought with suggestions that SEO is dead. Honestly, if Google Instant kills your success in SEO, you’ve been doing it wrong.
We all need to take a deep breath and remember that search marketing is more about marketing than about search. If you get your knickers in a twist every time Google changes its ranking algorithm or its user interface, then you aren’t focusing on the marketing part, just the search part.
Yes, it’s true that Google Instant will change what people search for and what they click on, just as a change to Google’s ranking algorithm changes what sites get shown and clicked. So, if you’ve been happily sitting around in the #1 slot for a popular keyword, Google Instant might change how many people see and click on your site, because it might talk them into completing a different keyword than what they set out to enter.
Live with it.
If you’re focused on rankings or even traffic, you are focused on the wrong thing. It’s all about the conversions.
If you’ve been focusing on conversions, you haven’t been sitting around expecting that everyone will type in your favorite popular #1 keyword. You’ve been working on optimizing for many variations, including deep (long tail) keywords that few people look for.
Some people say that Google Instant will cause fewer people to search for those less popular keywords, because they’ll just follow the suggestions, but Google Suggest has been around a long time, so we’ve already seen this movie, and I wonder if something else will happen.
We already know that fewer and fewer people, with each passing year, go to page 2 of the search results, preferring to enter a second query and spin again. With Google Instant, might people scan the results as they type and enter longer keyword phrases until they see what they want coming up?
We should also remember that many people never use Google’s site, preferring toolbars from Google or from their browser. While those toolbars might suggest keywords, they certainly do not show search results on the fly.
And a certain Bing search engine seems to power almost one-quarter of all U.S. queries. So, whatever havoc Google Instant wreaks on search marketers will affect a lot of searches, but it doesn’t affect them all.
The bottom line with Google Instant is that, like most search engine changes, you win some and you lose some (and some are rained out). But if you’ve been focusing on everything that your searchers need, you’ll find that you weather changes better than if you calculate everything you do to please the way Google works right now.
If you are into Google-pleasing, then, when Google sneezes, you catch a cold.