Social Media: Biggest Risk is Ignoring it
Originally published on Advisor.ca
Over 70 million business professionals are on LinkedIn, 80% of consumers say they want to use social media to engage companies, and 20% of all Twitter communication contains a reference to a product or service.
The argument for social media, however, goes beyond its strength in numbers. Its growing incursion into the world of business, and indeed into everyday life of consumers, predicates urgency with which organizations must consider making social media part of their overall business strategy.
A discussion around the benefits of social media, therefore, assumes even greater relevance and significance for the insurance industry that is facing unprecedented set of challenges.
Social media is a great way to add value to customer relationship, said Wendy Arnott, vice-president social media and digital communications, TD Bank Group, speaking at the CRC, in Toronto.
“Social media provides new and better ways to connect with customers [and] collaborate with employees,” said Arnott.
The introduction of social media capabilities within an organization creates an opportunity to increase awareness of an organization and improve brand awareness, she added.