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Hearsay Social and LinkedIn Introduce Social Business Platform

The software solution is designed to help financial services companies utilize social media to better engage with clients.

Hearsay Social, whose customers include Sun Life, announced today at LinkedIn’s FinanceConnect event that it has expanded its partnership with the social network to create a software solution that helps financial services firms leverage social media to better engage with their clients.

“We’re witnessing a shift from social media as being optional to becoming necessary,” says Clara Shih, CEO of Hearsay Social, provider of a social business platform for financial services. Though it has worked with other industry, the need to address regulatory requirements drove Hearsay towards financial services.

Clara Shih, CEO of Hearsay Social
Clara Shih, CEO of Hearsay Social

Sixty-eight percent of online adults who own an investment account maintain a profile on social networking sites, says Shih, citing a Forrester report. According to an FTI study, she continues, 71% of advisors report being able to find their targeted clients on LinkedIn.

[More on customer interactions: Allstate CEO: Tech Crucial to Customer Relationships. ]

Statistics such as these, combined with Hearsay’s goal of serving leaders in financial services, made LinkedIn an ideal partner for forming a social business solution. LinkedIn has earned its reputation as a foundational social network for relationship managers and the two have a longstanding relationship, says Shih.

“Increasingly, customer conversations are happening across LinkedIn Company Pages, individual profiles, and LinkedIn Groups,” explains Shih in a statement. “It’s imperative for today’s financial firms, business units, and representatives to take part in these conversations.”

Their joint solution, entitled Hearsay Social for LinkedIn, was created in conjunction with LinkedIn Marketing Solutions and LinkedIn Sales Solutions. It allows businesses to manage and enhance their online presence, and boost client engagement, while meeting regulatory requirements. Account holders can manage all social media aspects of LinkedIn and publish content to multiple social media accounts.

Through Hearsay Social for LinkedIn Company Pages, marketing teams can leverage company pages to share ideas on LinkedIn while ensuring compliance. Firms can also publish and share relevant content with clients, prospects and recruits.

Hearsay Social for Advisors and Wholesalers allows relationship managers to update their profiles with compliance-approved content and expand brand reach. It is also compatible with LinkedIn Sales Navigator, the network’s enterprise sales solutions.

Financial advisors can use Hearsay Social for LinkedIn Groups to seek and engage with customers, prospects and peers who share common interests. This outlet allows leaders to build their professional credibility and connect with more people while meeting compliance standards.

Users of the platform also have access to a content library created by Hearsay and LinkedIn to provide individualized content. The library contains articles, posts and industry-specific information that account holders can share with followers. Each user sees different content based on their location, cultural market or product offerings. The library is accessible via mobile device and can also post to Facebook and Twitter.

Hearsay Social for LinkedIn is currently undergoing staged deployment.

Kelly Sheridan is an associate editor for Insurance & Technology. Prior to joining InformationWeek Financial Services, she was a staff writer for InformationWeek and InformationWeek Education. Kelly has also written for trade publication Promo Marketing and a number of ... View Full Bio

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Greg MacSweeney
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Greg MacSweeney,
User Rank: Apprentice
2/21/2014 | 7:05:07 PM
re: Hearsay Social and LinkedIn Introduce Social Business Platform
This sounds like a good solution. I'm sure Hearsay has had no shortage of financial firms looking to be in the early pilots.
Kelly22
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Kelly22,
User Rank: Author
2/20/2014 | 7:44:22 PM
re: Hearsay Social and LinkedIn Introduce Social Business Platform
It seems like Hearsay is currently deploying this program to groups of its current members so they can more easily identify and address errors. Clara didn't specify a definite rollout date.
DavidW958
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DavidW958,
User Rank: Apprentice
2/20/2014 | 5:14:01 PM
re: Hearsay Social and LinkedIn Introduce Social Business Platform
Sounds like it has great potential. How does one go about joining the (early) staged deployment?
Kelly22
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Kelly22,
User Rank: Author
2/18/2014 | 10:12:32 PM
re: Hearsay Social and LinkedIn Introduce Social Business Platform
I agree, it's a win for all involved. It seems that with platforms like this, we could see an increase in social media engagement from financial services companies.
Crishay
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Crishay,
User Rank: Apprentice
2/15/2014 | 5:48:51 PM
re: Hearsay Social and LinkedIn Introduce Social Business Platform
It's a terrific solution - easy to implement at the enterprise level for insurers and financial service companies, and easy for representatives to use.
Kelly22
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Kelly22,
User Rank: Author
2/14/2014 | 3:34:40 PM
re: Hearsay Social and LinkedIn Introduce Social Business Platform
Absolutely, and with mobile and social media growing within the industry, I'm sure some insurers will invest in this solution to better manage their social media accounts.
Nathan Golia
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Nathan Golia,
User Rank: Author
2/13/2014 | 8:53:23 PM
re: Hearsay Social and LinkedIn Introduce Social Business Platform
Hearsay has been pushing the potential for linked in for some years now. Certainly for commercial insurance and high-value customers, the network represents fertile ground for insurance companies.
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