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Give me an overview of the social media followings and strategy of a few insurance companies: Chase (bank/finance), State Farm, Geico, Progressive
Hi there! Thanks for asking Wonder for an overview of the social media followings and strategies of insurance companies, State Farm, Geico, Progressive and Chase Bank. The short version is that I have compiled the requested data for each company and social media platform in a spreadsheet for easy comparison. The most helpful sources were social media analytics platforms such as klear.com and social media sites. See below for a deep dive of my findings and methodology.
METHODOLOGY
To complete this request for you, I first searched through data analytics platforms such as klear.com and sumorank.com to retrieve data on content and engagement for each platform associated with each company of interest. I then went to the each Facebook, Instagram, Twitter and Pinterest page to complete the data set. I was able to find most of the metrics you requested. I was unable to provide a total number of Facebook posts, or the date joined for Facebook, Instagram or Pinterest as these were not available on the sites or analytics platforms. I then searched for the social media strategies of each company in industry and marketing reports and trusted media sites. I was able to find some information that I have outlined and provided links to below.
As mentioned previously, I have provided the requested data inside a spreadsheet, you will find the following metrics included:
Company Metrics related to overall Social Media presence:
-Influence Level - Facebook, Twitter and Instagram presence
-Total Fans - from all social media sites
-True Reach - users that see each post made on all social media sites
Facebook:
-Number of followers
-Number of Likes (Total)
-Number of likes (average) per post
-Number of comments (average) per post
-Number of users that see each post (reach)
Instagram:
-Total number of followers
-Number of total posts
-Number of likes (average) per post
-Number of comments (average)/post
-Number of users that see each post (reach)
Twitter:
-Total Followers
-Total number of tweets
-Average number of retweets per tweet
-Average number of replies per tweet
-Average number of likes per tweet
-Number of users that see each tweet (reach)
-Date Joined
Pinterest:
-Number of boards
-Number of pins
-Number of followers
In addition to the spreadsheet, I have organized other findings below under the heading of each insurance company and included:
a) A brief top level overview of social media usage and engagement.
b) A more detailed level of analysis for Facebook content, including information on the most popular type of post/content.
c) A section outlining social media strategies.
FINDINGS
1. CHASE
a) Chase are very active on social media and have Twitter, Facebook Pinterest, and Instagram accounts among others. They post an average of 9.8 posts a day. Their overall social media engagement levels are very high and they are ranked as very friendly because they talk to 6040 people. Top topics include founder and marketing.
Top Facebook Posts: by interactions (Comments+likes+shares)
c) Strategy
Chase uses Facebook as part of a user-generated content (UGC) strategy, responding to questions that create additional content. They also use Facebook to showcase their work with charities. Chase has a Social Media Command Center, a centralized location where a social media team tracks, monitors, and engages users in conversations about the brand.
2. STATE FARM
a) State Farm are super active on social media and have Twitter, Facebook, Instagram, and Pinterest accounts among others, with an average of 13.3 posts a day. Their overall social media engagement levels are very high and they are considered as very approachable as 85% of tweets are replies. Top Topics include Web Accessibility Initiative (WAI) and insurance.
Top Facebook Posts: by interactions (Comments+likes+shares)
c) Strategy
State Farm have a tack record of engaging celebrities as well as creating fictional characters around the concept of a “real-life agent.” One such campaign was built around NBA All Star Chris Paul’s fictional long-lost brother, Cliff Paul, a fictional State Farm Insurance Agent which proved very popular with consumers. Another character that turned into a "cult icon" is "Jake from State," who was a real State Farm agent before becoming the central figure in State Farm's multi-platform ad campaign to raise brand awareness. More recently, State Farm's Neighborhood Sessions aimed at tapping into networks of people that can be scaled. This also deployed a multi-platform. The campaign returns famous musicians to their roots and includes a social media/charity element where every time someone tweets using the #NeighborhoodSessions hashtag, State Farm donates a dollar to local groups.
3. GEICO
a) Geico is very active on social media and have Twitter, Facebook, Pinterest, and Instagram accounts among others with an average of 5.1 posts a day. Their overall social media engagement levels are very high. They are considered very friendly as they talk with 2625 people. Top Topics include NASCAR and Racing Cups. Geico's Pinterest page is a careers page rather than a platform for generating brand awareness or advertising.
Top Facebook Posts: by interactions (Comments+likes+shares)
c) Strategy
Geico has used social media to be responsive with an average reply time to customers’ tweets of one hour, 22 minutes. Geico has a dedicated Twitter support staff that handles any questions, complaints or concerns that customers have. They have also used "memorable messaging," created through mascots such as Maxwell the pig, which was the most popular insurance video on YouTube. Coupled with funny ads, this strategy aimed at capturing the short attention spans of Internet users. Geico set out to target young people between the ages of 16 and 34, the future policyholders, with the goal of developing lifetime loyalty and increasing brand equity through word-of-mouth and social media. More recently Geico has been using commercials and sponsorships to create chatter on social media. For example, Geico’s sponsorship of CNN, and CNN’s bias against Donald Trump has drawn attention to Geico for their sponsorship rather than their products and services.
4. PROGRESSIVE
a) Progressive are very active on social media and have Twitter, Facebook, and Instagram accounts with an average of 6.1 posts a day. Their overall social media engagement levels are very high. They are considered very friendly and approachable as they talk with 2912 people and 90% of tweets are replies. Top topics include WAI and insurance.
Top Facebook Posts: by interactions (Comments+likes+shares)
c) Strategy
Like State Farms' Jake from State, Progressive have created a fictional character, Flo with the aim of making an un-sexy product like insurance into something light-hearted, fun and memorable. Again, the characters ad campaigns are just part of a larger strategy that leverages multiple social media platforms to drive content and engage audiences through storytelling and to ultimately convert prospects into customers.
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SUMMARY
To wrap it up, I have provided a spreadsheet detailing the social presence of selected insurance companies through metrics such as the number of followers, types of content, and average number of engagements with posts. Also, I have provided some information on the social media strategies of each company above.
Thank you for using Wonder! Please let us know if you have any further research needs.