Thrivent Financial is a Fortune 500 financial services organization with more than $105 billion in assets under management. The firm relies on Hearsay Social to empower its field representatives to compliantly grow business through social media marketing.
increase in new customer acquisition
of leads generated monthly
less time spent distributing content
As a fraternal organization, Thrivent Financial focuses on community as a differentiator from firms that offer similar services. Social media was a natural extension of the firm’s community-based marketing. They see a strong correlation between time spent with representatives and customer loyalty, as well as increased assets under management. Thrivent initially wanted to empower reps with social media to scale this valuable time spent with customers. However, when the team first got started on social media, managing compliance requirements was manual and incredibly time-consuming. Thrivent needed an efficient solution to scale the social program across its entire field team.
Thrivent selected Hearsay Social for both the sophistication of the product as well as the Hearsay team’s social media savvy. Thrivent’s vigorous selection process focused on Hearsay Social’s ability to serve the needs of its organization across different user types, including field representatives, creative services, principal reviewers, and recruiters.
Hearsay Social has become a powerful tool for Thrivent reps to attract new prospects and increase customer retention. When the firm compared the performance of its social-enabled reps to a control group, they saw a 22% increase in new customer acquisition. Hearsay Social also helped reduce the time required to distribute content by 75% and significantly streamlined the entire compliance process. There are now more than 900 financial reps using Facebook, Twitter, LinkedIn and Google+ to grow their businesses. Each rep has an average of more than 300 connections across social media platforms, making Hearsay Social a critical channel to amplify corporate marketing messages and share helpful information to build their business.
We’re seeing a surprising amount of sales. The cohort we tested was up 22% in new customer acquisition over their control group.Knut Olson, former Senior Vice President, Mission Advancement, Thrivent Financial