Hearsay Launches Social Media Management For Branch Offices - InformationWeek

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2/3/2011
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Hearsay Launches Social Media Management For Branch Offices

Platform helps corporations maintain control over brand, compliance when local representatives use Facebook, LinkedIn, and Twitter to support customer relationships.

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"With Hearsay Social, companies can be safe with advanced compliance and workflow capabilities, successful with compelling content, and smart with robust analytics," said Clara Shih, Hearsay's CEO, who created a business application on Facebook in 2007 and wrote The Facebook Era. "Fan and follower relationships on social networking sites are creating an unprecedented opportunity for corporate/local companies to extend customer relationships and success of local stores into the online realm."

In 2010, insurance giant State Farm saw many of its approximately 18,000 independent agents were beginning to use social media to interact with customers and prospects. Wanting to leverage the technology -- but concerned about compliance risks -- State Farm required all agents who wanted to use social media in business to use Hearsay Social to access those sites.

"Hearsay empowers our agents to strengthen these relationships on social media while engaging customers and prospects with useful and relevant content. Hearsay also allows us to address the important compliance requirements, which banking and insurance companies need to meet. Results include achieving full compliance with FINRA 10-06 and other federal regulations, and the ability to enforce good corporate governance," said Craig Allen, VP of agency at State Farm. "Agents benefit from corporate-approved content suggestions and branded tabs which they can one-click post to their social network profiles, as well as rich social customer relationship management (CRM) functionality to track real-time customer conversations, activities, and life events appearing on Facebook, LinkedIn, or Twitter."

Hearsay Social is a software-as-a-service (SaaS) platform comprised of a compliance, content-management, workflow, and analytics, residing on Facebook, LinkedIn, and Twitter. Organizations can manage their social media initiatives at local, regional, and national levels via a central dashboard, using its compliance and content management components. Analytics capabilities give management visibility across the entire firm's social media efforts, as well as the ability to drill-down by region or sub-region, Hearsay said.

Recently, Hearsay signed a partnership with LinkedIn that includes collaboration on sales and marketing, as well as full integration between Hearsay Social and the LinkedIn messaging API to ensure total compliance to customers, regardless of whether users access LinkedIn from work, home, or mobile device.

"We are delighted to partner with Hearsay so that financial, insurance, and other professionals can meet their regulatory requirements, while taking advantage of the extensive networking, marketing, and research capabilities of LinkedIn," said David Hahn, VP of product management at LinkedIn, in a statement.

Hearsay, which has the financial backing of Sequoia Capital, was co-founded by former Microsoft executive Steve Garrity, and former Google and Salesforce.com executive Shih."With Hearsay Social, companies can be safe with advanced compliance and workflow capabilities, successful with compelling content, and smart with robust analytics," said Clara Shih, Hearsay's CEO, who created a business application on Facebook in 2007 and wrote The Facebook Era. "Fan and follower relationships on social networking sites are creating an unprecedented opportunity for corporate/local companies to extend customer relationships and success of local stores into the online realm."

In 2010, insurance giant State Farm saw many of its approximately 18,000 independent agents were beginning to use social media to interact with customers and prospects. Wanting to leverage the technology -- but concerned about compliance risks -- State Farm required all agents who wanted to use social media in business to use Hearsay Social to access those sites.

"Hearsay empowers our agents to strengthen these relationships on social media while engaging customers and prospects with useful and relevant content. Hearsay also allows us to address the important compliance requirements, which banking and insurance companies need to meet. Results include achieving full compliance with FINRA 10-06 and other federal regulations, and the ability to enforce good corporate governance," said Craig Allen, VP of agency at State Farm.

"Agents benefit from corporate-approved content suggestions and branded tabs which they can one-click post to their social network profiles, as well as rich social customer relationship management (CRM) functionality to track real-time customer conversations, activities, and life events appearing on Facebook, LinkedIn, or Twitter," said Allen.

Hearsay Social is a software-as-a-service (SaaS) platform comprised of a compliance, content-management, workflow, and analytics, residing on Facebook, LinkedIn, and Twitter. Organizations can manage their social media initiatives at local, regional, and national levels via a central dashboard, using its compliance and content management components. Analytics capabilities give management visibility across the entire firm's social media efforts, as well as the ability to drill-down by region or sub-region, Hearsay said.

Recently, Hearsay signed a partnership with LinkedIn that includes collaboration on sales and marketing, as well as full integration between Hearsay Social and the LinkedIn messaging API to ensure total compliance to customers, regardless of whether users access LinkedIn from work, home, or mobile device.

"We are delighted to partner with Hearsay so that financial, insurance, and other professionals can meet their regulatory requirements, while taking advantage of the extensive networking, marketing, and research capabilities of LinkedIn," said David Hahn, VP of product management at LinkedIn, in a statement.

Hearsay, which has the financial backing of Sequoia Capital, was co-founded by former Microsoft executive Steve Garrity, and former Google and Salesforce.com executive Shih.

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