Case Study: How New York Life Is Driving Interaction, Engagement, and Relevance Using Social Media Presented by: Gregory Weiss, Assistant Vice President of Social Media, New York Life Insurance Company New York Life takes an innovative approach to its social media efforts, and has emerged as a leader in the space amongst its peers. Find out how New York Life leverages its brand heritage, employees, and agents to achieve short-term wins with long-term benefits, as Gregg highlights several key initiatives while infusing some of his own tips on how you/your company can be successful driving new opportunities www.bdionline.com

1. How New York Life is Driving Interaction, Engagement, and
Relevance via Social Media
Gregg Weiss, AVP Social Media
@greggweiss | gregory.weiss@newyorklife.com
November 16, 2011

2. Why I am happy to share information & tips with my
colleagues at other firms
@greggweiss #BDI1

3. Chapter 1: A Short History Lesson
@greggweiss #BDI1

4. Social Media has been around for a while.
@greggweiss #BDI1

5. What’s changed is the medium…
@greggweiss #BDI1

6. …& the expanded connections this “new” medium enables.
@greggweiss #BDI1

7. Anyone has the power to share an opinion.
@greggweiss #BDI1

8. Anyone has the power to Everyone is sharing opinions.
@greggweiss #BDI1

9. Good luck, consumer.
How people
interacted with
brands before:
1 to 1
@greggweiss #BDI1

10. Good luck, company.
How people interact with brand now:
1 to many
@greggweiss #BDI1

11. Power To The People
Then: 1 to 1
vs
Now: 1 to many
@greggweiss #BDI1

12. Chapter 2: The New Normal
@greggweiss #BDI1

13. What does this mean for you/your company?
@greggweiss #BDI1

14. @greggweiss #BDI1

15. Hopefully one day we will no longer need to
share these types of statistics.
Social Media is the new normal,
not a passing fad
Source: Nielsen, Sept 2011 @greggweiss #BDI1

16. Chapter 3: Why It Matters
@greggweiss #BDI1

17. @greggweiss #BDI1

18. @greggweiss #BDI1

19. The value of “brand ambassadors”
People trust their friends!
@greggweiss #BDI1

20. The slide that gets the attention of CEOs, CFOs, & CMOs
81%* 47%*
People who say they’ve received recommendations on People who say that this info (received via social networks)
companies, products, & services via social networks directly influenced their decision to purchase – or not purchase
-- that product or service
Facebook alone, will directly influence 464MM purchasing decisions this year.
(Source: ClickZ, 2010) @greggweiss #BDI1

21. Why do I love what I do…
“I run social media for New York Life…” (so-so statement)
“I drive word-of-mouth marketing about New York
Life online…” (good statement)
>1B positive brand
impressions per year.
@greggweiss #BDI1

22. While our “social footprint” has grown…
Facebook Twitter
120,000 7,000
100,000 6,000
80,000 5,000
60,000 4,000
40,000 3,000
20,000 2,000
0 1,000
Feb- Mar- May- Aug- Sep- Mar- May-
Jan-11 Apr-11 Jun-11 Jul-11 Jan-11 Feb-11 Apr-11 Jun-11 Jul-11 Aug-11 Sep-11
11 11 11 11 11 11 11
Facebook 6,536 10,104 11,789 53,700 70,105 79,524 91,367 107,30 114,06 Twitter 1,380 1,481 1,593 1,726 1,826 2,066 2,411 4,062 5,813
Source: Facebook, Twitter monthly reporting as of 1st of each month @greggweiss #BDI1

23. That isn’t necessarily what is most important.
@greggweiss #BDI1

24. Facebook’s New “People Talking About This” Metric
Facebook Page Fans Conversations Conversations/Fans
New York Life 116,235 2,810 2.42%
Facebook 53,586,662 1,066,390 1.99%
Apple 1,564,534 28,851 1.84%
Walmart 9,378,688 166,085 1.77%
Starbucks 25,428,655 336,242 1.32%
The Beatles 22,163,901 274,745 1.24%
Lady Gaga 44,066,561 430,809 0.98%
Nike 5,150,281 41,282 0.80%
Coca Cola 34,496,017 159,576 0.46%
Next Step: Scale!
@greggweiss #BDI1

25. People who say you can’t measure social media should
consider changing their profession
@greggweiss #BDI1

26. …And perhaps what’s really important is much bigger:
@greggweiss #BDI1

27. Chapter 4: Creating Internal Buy-In
@greggweiss #BDI1

28. @greggweiss #BDI1

29. @greggweiss #BDI1

30. @greggweiss #BDI1

31. @greggweiss #BDI1

32. @greggweiss #BDI1

33. If you don’t trust your
employees, then you may not
be hiring the right people.
@greggweiss #BDI1

34. Chapter 5: Foundational Elements of NYL’s Social Media Program
@greggweiss #BDI1

35. 1) Employee Social Media Policy
•The FTC has given you a gift
•Define what employees can/can’t do
•Promote the concept of “brand ambassadorship”
(while following the rules)
•“Don’t do anything stupid.” – Tony Hsieh, CEO Zappos
@greggweiss #BDI1

36. 2) Online “Listening”
@greggweiss #BDI1 36

37. 3) Campaigns Content Community
@greggweiss #BDI1 37

38. New York Life Protection Index

39. New York Life Game of Life
39

40. 4) Agent Presence
11,000 x 130 x 130 x 52 =
Potential annual audience of 9.7B.
Connections Conversations Conversions “A decent opportunity to make a positive
difference in peoples’ lives.”
@greggweiss #BDI1

41. Questions?
41
@greggweiss #BDI1