Monthly Archives: June 2024

Incoming Social Media Mandates: Bracing Your Brand’s Strategy and Uncovering Opportunity

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Last week in a New York Times op-ed U.S. Surgeon General Vivek Murthy suggested adding warning labels to social media platforms that would serve as a reminder to parents and teen users to monitor social media use. The Surgeon General’s suggestion is rooted in concerns about the mental health and perceived excessive use of social media by young people. Murthy’s suggestion took the nation by storm because, currently, the only two products in the U.S. with such warnings are alcohol and tobacco products. The immediate result leaves brand leaders to wonder what this could mean for their marketing and communications strategies.

“The mental health crisis among young people is an emergency — and social media has emerged as an important contributor,” Murthy wrote in the op-ed. “Adolescents who spend more than three hours a day on social media face double the risk of anxiety and depression symptoms, and the average daily use in this age group, as of the summer of 2023, was 4.8 hours.”

A year or so ago, Murthy issued an advisory on the topic that included specific recommendations for “policymakers, platforms and the public to make social media safer for kids.” Today, there is pending proposed legislation in 30 states and Puerto Rico with many of them already passed. While it’s difficult to tell just what impact such legislation or regulatory changes could have on social media behavior, brand leaders might want to reevaluate the stake young people hold in their social media strategies and how they target them.

Social media marketing & young people

In recent years, social media has taken over as a marketing powerhouse for brands, particularly for those looking to reach younger audiences.

The Harvard T.H. Chan School of Public Health conducted a 2022 study of Facebook, Instagram, Snapchat, TikTok, X and YouTube found that almost $11 billion in advertising revenue was generated by users under 18. The study goes on to note that “Approximately 30–40% of the advertising revenue generated from three social media platforms (Snapchat, TikTok, YouTube) is attributable to young people.”

Concerns around the mental health impact of social media are becoming increasingly top of mind for parents of children and adolescents as well as lawmakers. Murthy notes in his 2023 advisory there is still much to be studied about the broad and nuanced impacts of social media on children and adolescents. For example, “studies point to a higher relative concern of harm in adolescent girls and those already experiencing poor mental health, as well as for particular health outcomes like cyberbullying-related depression, body image and disordered eating behaviors, and poor sleep quality linked to social media use.”

And while the issue continues to be studied, limiting social media use is reported to help with negative mental health symptoms. “Limits on the use of social media have resulted in mental health benefits for young adults and adults … limiting social media use to 30 minutes daily over three weeks led to significant improvements in depression severity.”

Lawmakers are working to make parents more aware of the impact of social media while urging them to restrict their children’s exposure to social media by introducing bills that would create task forces around the issue, set-up kid-friendly design codes, require age verification to log into social media accounts, establish digital literacy courses in schools and more. New York, for example, signed two bills into law last week to limit data collection on minors and to stop addictive feeds, or those designed to recommend content meant to keep a user scrolling.

Making adjustments

With all this discussion, possible change is afoot. Social media already requires brands to pivot constantly to platform updates, changes in behavior and internet trends. Potential legislative or regulatory changes could require even more adjustments.

In this evolving environment, brands might consider the following tips to stay ahead:

  • Stay updated: With so many looming laws around social media, brand leaders should take time to understand the pending legislation and the potential changes coming their way. Understanding how to stay in compliance and target social media content to younger demographics safely and responsibly will help teams develop a strong strategy that takes into account the principles behind new regulation or legislation.
  • Be creative: Social media offers brands a quick, direct line of communication with young people. As their behaviors on social media shift, communication may no longer be as streamlined, and some young people may opt out of social media altogether. Brand leaders may have to get creative to fill the gap.
  • Broaden your strategy: Consider the breakdown of your marcomm budget. In this new regulatory environment, could it make sense to shift dollars from social media marketing to public relations or digital advertising?
  • Take testing seriously: What works today on social media might not work tomorrow and this is especially true as efforts are made to restrict young people’s access to it. Brand leaders should be constantly testing elements of their social strategies to ensure they are effective in reaching the correct demographics and sparking engagement while remaining compliant with legislation.
  • Choose the right partners: Consider working with a PR agency that understands the landscape and how best to reach your target audience. An integrated PR campaign could supplement dialed-back social media efforts. Not to mention, a good PR agency will have a reliable crisis communications team ready to protect your brand should your company run afoul of any new social media requirements.

New limitations on social media marketing appear to be a growing reality. Brand leaders do not have to look at related legislative measures as a loss in their social media strategies, but an opportunity to find new, meaningful ways to reach young people. Consider taking a moment to research what social media legislative measures are being taken in the state(s) where your business operates and where your social media strategy or overarching public relations strategy might need adjusting.

InsurTech Insights USA 2024: Lessons Learned, Advice Offered

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Last week, two of my colleagues and I attended InsurTech Insights USA in New York to do a little networking. Having attended for the first time in 2023, what I’ve come to appreciate about ITI is the speed networking.

Like two unassembled IKEA furniture pieces, both parties to ITI’s speed networking meet-up have a purpose. But how do you make the meeting feel natural and unforced? This can be tricky without planning. It can feel a bit like trying to assemble said IKEA furniture while following a vague and sometimes interpretive set of directions.

At ITI, you can use the event app to make connections with other attendees and schedule a series of 15-minute speed networking meetings. The app does all the hard work in terms of schedules and logistics. It’s the human element that is both fascinating and frustrating.

Who speaks first? How do you start? Should a slide deck be involved? What about business cards (so many opt not to carry them anymore or lose them along with their checked luggage)? What are the takeaways or next steps? Should there be takeaways or next steps? What if you’re late for the next meet-up that starts the moment your current meet-up ends?

What I’ve Learned

For those who participate in these meetups, and some do not, the intentions of both parties are clear. Someone is selling. Someone might be buying. Sometimes both parties are selling. And, sometimes, someone took the meeting simply to be polite.

The good news is it’s a level playing field for insurtechs, insurers, vendors and others who choose to participate.

What I have found to work best is to keep it simple and be direct: Asking the other party to tell you what they do, who is important to them to grow their business and what problems they are trying to solve or what opportunities they are seeking. Always give the other party, when possible, most of the time. And – importantly – listen to what they say. Don’t simply wait to speak. If what you do, provide or sell matches up with their needs, then connect the dots for them. Otherwise, ask them what they would like to know about your business and allow them to guide the conversation. And leave the PowerPoint at home. When you’ve got about a minute left, ask if it makes sense to keep the conversation going. If agreed, exchange contact information.

The number of people I met in 2023 and again this year who said, “I’m not sure how this meeting is supposed to work” was surprising, but also honest and refreshing. They saw the value of the speed-networking meet-up. They simply didn’t have a plan. Maybe the above approach will help in 2025?

What I Suggest

Frankly, I’d like to see a bit more of this type of speed-networking at other insurance industry conferences. Just maybe not at the same volume or pace as ITI (you really do need comfortable shoes and the occasional bathroom break).

Insurance is a business built on relationships. With daily new entrants to the industry and younger generations working to build and nurture their own networks, maximizing in-person opportunities and building relationships are more important than ever. Additionally, as experienced executives begin to retire, some of their industry relationships run the risk of being retired with them. Insurers simply cannot afford for this to happen.

ITI’s speed-networking format can be adapted to serve nearly any organization. For carriers, re-insurers and others, this would be a potentially great addition to all-company staff meetings. For the industry’s many professional associations, speed networking could be a great icebreaker for new as well as existing members. It could also serve the organization to better understand their members and their needs in a direct way. The same is true for recruitment events, fundraisers and alike.

For insurance to innovate and grow into the future, relationships must be brought along as part of the compact. While ITI certainly did not create the speed-networking concept, its application of the concept – in my view – offers a road map to creating and carrying all-important industry relationships into a bright, energetic and exciting future.

Envisioning a Clearer Line from PR to Sales

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How do you measure the return on investment (ROI) on your public relations (PR) services? It’s a question asked of every public relations professional by clients and prospects frequently.

It’s also a question we wish we could answer with detailed rows of figures, colorful line graphs and a direct line to sales, but even in 2024, it’s not that easy.

Though we can — and do — give clients comprehensive measurement reports listing the circulation, readership, viewership or listenership of media outlets where they’ve been featured, as well as share-of-voice (SOV) reports, Google Analytics, and more, the industry is yet to develop that perfect algorithm or tool that demonstrates a direct line from PR to sales.

By no means does this mean our work is not generating sales and/or leads. In fact, experienced PR pros have clients say, time and time again, “We had a call come in from a prospect who said they were inquiring about our services after reading our contributed article in XYZ publication.”

For those in our profession, a statement like this is the ultimate compliment. We know, and the client knows, we not only positioned them in front of their target audience through a thoughtfully designed PR strategy, we helped bring, through our work, a prospect to their door.

So, how do you know your PR strategy is working?

A good PR partner will start with obtainable goals and consider a variety of factors to measure their progress. Key measures should include:

Comprehensive Metrics: These are critical in measuring PR success, but once again, you likely will not find an accurate direct link to sales. But there are plenty of metrics your PR team can examine to measure the success of a campaign.

For example, they should carefully review and measure unique monthly visitors to the host site, share of voice, tone, sentiment, reach, key word ranking, social media traffic and more. That information should be shared with you on a monthly basis with a media mentions report of articles, podcasts or other media where your company was featured during that month.

At the same time, to boost those metrics, your PR team should be working to secure backlinks in your media coverage where possible. Though some publications will not allow this, when permitted, a backlink can be quite valuable. Backlinks denote authority and raise the search engine optimization (SEO) of your website, as well as the authority of your content. If the publication’s own domain authority or SEO is considerable, that lends greater credibility from Google’s perspective. With backlinks and your website’s Google Analytics, your PR team can benchmark and track progress as to how the PR work is impacting web traffic to your site.

While ad value equivalency and media impressions were once the holy grail of PR measurement, these two metrics have since largely fallen out of favor. They are a “holdover over from print” and no longer accurate, according to PRWeek. Though impressions can tell you how many viewed and an article from a circulation perspective it fails to tell you how many times a physical article was passed around, how an article has been featured and circulated on social media, how long a viewer stays on an article and more.

Share of Voice: Share of voice, which should be included in the comprehensive metrics above, deserves a shout out of its own here as a key measure as it can offer a company critical insight into their own media footprint as it compares to their competitors.

The term share of voice denotes a measurement that encompasses a company’s print, radio, broadcast and podcast presence, as well as its online mentions and website traffic, among other factors. Share of voice is measured with a calculation of a company’s mentions divided by total market measures.

At Kimball Hughes PR, we’ve seen tremendous success for our clients in terms of growing share of voice via a strategic PR campaign. In fact, after one year of a PR engagement with our team, one of our clients saw their share of voice increase from just under 10% to more than 75% compared to their competitors. In addition to posting thoughtful press releases in tandem with the client, we accomplished this by leveraging insight from the client’s leadership team, by telling stories about relatable personal interests, tapping into industry trends and more to get in front of their key audiences in print, online, via broadcast and streaming platforms, via podcasts, blogs and more. Further, once these pieces of content were published, we provided recommendations and suggested messaging to amplify the article’s reach through social media.

New Business Origination and Leads: While these tools are helpful, as mentioned at the top, one of the best ways to measure PR success, is through a client’s new business wins after the prospect has read their insight in earned media coordinated by your PR team. There, you see PR’s direct link to sales.

No doubt, new tools will be introduced in the months and years to come to better measure PR success. In the meantime, be patient and open to considering multiple metrics in evaluating the success of your PR campaign.