State Farm is using a social management platform tool, Hearsay Social, to enable its agents to build customer engagement and loyalty on social media while meeting corporate brand and regulatory guidelines.
Last year, State Farm noticed a growing number of their nearly 18,000 independent agents were beginning to interact with customers and prospects on social networking sites such as Facebook, LinkedIn and Twitter. Recognizing the need to both address compliance risk and tap into the tremendous marketing opportunity on social media, State Farm has deployed Hearsay Social to thousands of agents, requiring that any agent who wishes to be on social networking sites use Hearsay Social to access these sites.
“Our company was built on relationships and our agents excel at this with their customers and in their communities”, said Craig Allen, Vice President Agency at State Farm. "Hearsay empowers our agents to strengthen these relationships on social media while engaging customers and prospects with useful and relevant content. Hearsay also allows us to address the important compliance requirements, which banking and insurance companies need to meet."
Results include achieving full compliance with FINRA 10-06 and other federal regulations, and the ability to enforce good corporate governance. Agents benefit from corporate-approved contents suggestions and branded tabs which they can one-click post to their social network profiles, as well as rich social customer relationship management (CRM) functionality to track real-time customer conversations, activities and life events appearing on Facebook, LinkedIn or Twitter.
Backed by Sequoia Capital, the company was co-founded by former Microsoft executive Steve Garrityand former Google and Salesforce.com executive Clara Shih, Hearsay Social helps these "corporate/local" organizations centrally measure, manage, and deploy content, compliance, monitoring and analytics across brand and local social media presences including Facebook Pages and Profiles, LinkedIn profiles and Twitter accounts.