This social media strategy was created by four students for Freedom Financial and Insurance Services to help them expand their online presence. The strategy involves creating accounts on Facebook, Twitter, Instagram and YouTube to communicate with current and new customers. It aims to increase brand awareness, customer retention, and allow customers to get quotes and ask questions online. The team analyzed Freedom's strengths, weaknesses and competitors to develop a multi-stage plan including audience targeting, content creation, and long-term management using data and analytics.
2. Brief Overview
● Freedom Financial and Insurance Services offers insurance
products and financial guidance for people and businesses.
● Founded in 1994 by Bruce Dietzen, Freedom Financial aims
to provide high quality products and services in a
professional environment to assist individuals
● The business owners on their path to financial freedom in
Tacoma and surrounding areas.
3. This social media strategy created for Freedom Insurance services is
comprised of methods and strategies that focus on the goal of
reaching their customer clientele in the greater Tacoma area. We
researched and created a SWOT analysis to better understand how
Freedom Financial could improve their social media marketing
strategy. This insight also provided us information on how Freedom
could create multiple social media platforms tailored toward
continually reaching current customers and expand their clientele. Our
strategy will allow Freedom Financial to communicate, interact, and
better service their customers by utilizing a wide array of social media
platforms.
Executive Summary
4. Our mission at [our company name]
is to introduce and educate
Freedom Financial in social media
strategy in order to reach a larger
demographic of customers seeking
insurance services and financial
advising.
MIssion Statement
5. Current Social Media Presence
Besides a user created
website, Freedom Insurance
Services does not have a
presence on any of the
current social media
platforms. The website is one-
way communication medium
where customers cannot
apply for policies via the
website nor receive feedback
concerning their customer
service.
6. Freedom Financial Services increases premium by rolling over books
from acquired insurance brokers in the area. Instead of reaching to a
new demographic of customers, it is reliant on current policies
underwritten by the various brokers. Though Freedom writes
business through large insurance companies such as Progressive,
NGIC, Geico, and Travelers, there is pressure to conform to more
online services and user-friendly mobile apps.
Competitive Analysis
7. SWOT Analysis
Strengths
● Ability to roll over books during business acquisitions
● Strong knowledge and networks in the insurance industry
● 1.7 million dollars in premium
Weaknesses
● Little to no social media presence
● Lack of Cloud Services
● Small compared to most brokers in the area
Opportunities
● Creating new customers via social media strategies
● Increase business awareness
● Expansion
Threats
● Local brokers
● Online policy writers
8. What We Want to Accomplish
● Create a strong social media foundation in order to spread
brand awareness to and to interact/communicate with new
and preexisting clientele.
● Associate widgets used to apply for quotes and business
inquiries across all social media platforms.
● Design easy to use interface and simple yet effective social
media image
● Expand Freedom INsurance not only through clientele but
employees as well.
10. Project objective:
● Create a strong social media foundation in order to spread brand
awareness and to interact and communicate with new and pre
existing clientele.
● Design easy to use interface and simple yet effective social
media image.
● Associate widgets used to apply for quotes and business inquiries
across all social media platforms.
11. Stage 2:Target audience
● Interview sessions with Bruce at Freedom insurance.
● Gear toward individuals aged 25-35 who are buying cars,
homes, recreational vehicles, sport cars, and other property.
● Individuals who use the internet frequently and are active on
multiple social media platforms.
12. Audience Management
Provide timely posts:
• Analyzing our demographic for high activity
hours.
• Implement posting schedule based on hours
• Measure engagements and impressions using
applications.
13. Research content
• Researching latest trends and hashtags circling
in social media world
• Researching Market news for buyers
confidence
• Research new insurance plans by other
competitors
14. Budget
• Hiring a paid/non –paid intern would be our
option
• Cost effective and learning experience
• Allocation of $8,000 dollars to finance social
media internship
15. Analyze data/ platforms
• Each platform will be managed accordingly
based on their activity and active hours
• Post will be focused to be released during high
traffic hours
• Promotion will be geared toward attention
toward brand
16. Stage 3: Long term
“Freedom social, inspiration in
insurance”
• Expansion of Freedom insurances influence
• Creating brand recognition
• Financial stability
• Ethics
• Effective and efficient leadership
18. Data collection
• Facebook; Shares reaction, likes etc.
• Instagram; Likes, Hashtags, mentions,
comments
• Twitter; Retweets, shares, mentions, likes and
comments
• Youtube; Linked video share, thumb rating,
followers, subscribers.
19. Analysis of platforms
• Twitter; focusing on retweets and hashtags to
attract activity to twitter acount
• Instagram; utilizing the power of hashtags and
tagging to increase brand community and
shoutouts
• Facebook; utilizing the usage of hashtags on
facebooks and shares on account.