Fortune 100 Agents Leverage Social Media to Enhance Customer Relationships

State Farm, one of the leading insurance providers in the US, has taken a significant step in its digital transformation by implementing Hearsay Social, a social media management platform. This move enables its nearly 18,000 independent agents to engage with customers and prospects on social media platforms like Facebook, LinkedIn, and Twitter, while ensuring compliance with regulatory guidelines. The platform provides agents with corporate-approved content suggestions, branded tabs, and social customer relationship management (CRM) functionality, allowing them to track customer conversations and activities in real-time.

Key Takeaways:

• State Farm has deployed Hearsay Social to thousands of agents, requiring them to use the platform to access social media sites, thereby addressing compliance risk and tapping into social media's marketing opportunities.
• The platform enables agents to build customer engagement and loyalty on social media, while also fulfilling corporate brand and regulatory guidelines.
• Agents benefit from corporate-approved content suggestions, branded tabs, and rich social CRM functionality to track real-time customer conversations and activities.
• State Farm has achieved full compliance with FINRA 10-06 and other federal regulations, and has enforced good corporate governance.
• The company's decision to leverage social media is in line with its mission to empower its agents to strengthen customer relationships on social media.
• Hearsay Corporation, the provider of Hearsay Social, has been backed by Sequoia Capital and was co-founded by former Microsoft executive Steve Garrity and former Google and Salesforce.com executive Clara Shih.

Statistics:

• State Farm has over 17,800 agents and 66,000 employees serving 81 million policies and accounts.
• State Farm is ranked No. 34 on the Fortune 500 list of largest companies.
• Hearsay Social has enabled State Farm agents to engage with customers and prospects on social media platforms, while ensuring compliance with regulatory guidelines.
• The number of State Farm agents on social media has increased due to the implementation of Hearsay Social.

Sources:

• "Hearsay Corporation today announced that State Farm is already experiencing success with its just-announced social media management platform, Hearsay Social."
• Hearsay Corporation
• "About Hearsay Corporation"
• "About State Farm"
• Stephanie Gnibus, Editorial Contact at Hearsay Corporation (408.776.9727)
• Stephanie@hearsaycorp.com
• Hearsay Corporation press release on PrNewswire (Feb. 3, 2011)