Hearsay Systems with Tim Rickards | E224
Compliance, customization, & conversion in the social & digital realm.
On today’s episode of the Fintech Impact, Jason Pereira is going to talk to Tim Rickards. He is the managing director of social and content strategy for Hearsay Systems. Hearsay is a social media and content management system that helps businesses market themselves better in today’s social and digital age.
Episode Highlights:
00.38: Hearsay is in essence of client engagement platform, and the company helps agents and advisors consistently deliver a personalized human client experience
01.04: Hearsay also provides a comprehensive data capture and analysis system that helps people understand how they can keep improving as they move forward.
02.26: Tim talks about the guidance that they give to advisory firms who are new to this space looking to basically market themselves digitally.
03.48: Tim advises to get the building blocks in the infrastructure set up then start to think about - what is the true business those people are in and how can you use social media to further those business goals? if you have got those things sorted, then you can dive into these more kinds of executional considerations.
05.12: Hearsay Systems is solely dedicated to financial services firms. They have an understanding with insurance companies, asset managers, broker dealers etc.
05.33: Tim shares how they offer a combination of options that can help them to get advisors post on social media.
06.21: Tim does an organic social field enablement, they allow individual people to increase the gravity of their social presence and expand their networks to help drive business, so posting is important.
06.40: Engagement is important, but you also have to have good hygiene. It is called social reciprocity, to follow up on those posts to continue conversations and increase the impact you have with on that particular social media platform.
08.28: Tim shares how you can literally funnel somebody to the conversion experience via text.
10.32: Tim talks about the social realm and all other communication. He discusses how he is helping to get a prospect down the funnel using next best action.
11.33: Jason inquiries about the enablement part of the platform. He asks Tim how Hearsay Systems continues to nurture that relationship before advisors get to some sort of conversion point.
12.32: Tim shares how they focus on social reciprocity and encourage people to not be afraid to direct message somebody if especially they are not a client.
14.44: Tim says that if he is an advisor, then he would have wanted to post about his kids who are 14 1/2-year-old twins and how Tim is thinking about funding their college educations because it’s personal and it’s topical. If someone commented on that post to means that’s a very hot signal.
18.18: As per Tim, social selling allows other people to find Hearsay Systems so that we can help solve their problems.
19.20: If you are an insurance agent or an advisor, you have licenses and standards that you have to follow, and your firm is at risk. That is not an uncommon situation, where the actual agents and advisors, they are kind of afraid to use social media because they don’t want to get in trouble.
19:44: At Hearsay Systems they have features that screen posts for specific language and images so that the company doesn’t have to worry that something is going to go out that is problematic.
22:45: As per Tim they are using social media to help each advisor or agent grow their business, increase the number of policies there, their assets under management, etc.
3 Key Points
Tim discusses how does Hearsay Systems stand out from the competition in the Financial Service space
Tim talks about text implementation and how is that being implemented and how is it different than what he is seeing? What is being done in the social realm?
Tim shares instances and tells the listeners about the importance of having a good social reciprocity habit.
Tweetable Quotes
“Have your walls built so that you are safe and secure and then truly understand the business opportunity for your folks. You could have multiple sections of that within a firm depending on the products they sell or the maturity of their particular client bases, but have your direction set and then dive into the actual execution and posting.” - Tim
“We help people build out content libraries that are organized by tags which aren’t essence topics. So that is a searchable database that individual user can go to and find things they are interested in order to post.” - Tim
“I think that the one thing that is typically last in a discussion about social media is that you can be the best person who is posting in the history of posting people on the planet. But if you’re not following up on the engagement you get from that, those efforts, you’re essentially leaving money on the table.” - Tim
“We typically advise advisors to do, or agents is if someone responds and they’re not in your network, invite them to your network.” – Tim
“People who are good salespeople have a both an intuitive and educated sense of when it’s time to dig in.” – Tim
“Our view is that the technology is there to strengthen the human relationships and interactions itself, to replace them.” - Jason
“Even in a large, highly successful broker dealer when we are doing prospect marketing, our client marketing, oftentimes the fidelity of our outreach isn’t as high as. We would like it to be and especially if it’s consumer communications.” - Jason
Resources Mentioned:
Facebook – Jason Pereira’s Facebook
LinkedIn – Jason Pereira’s LinkedIn
Woodgate.com – Sponsor
LinkedIn – Jason Pereira’s LinkedIn