October 19, 2023

Hearsay Announces Most Robust Financial Services User Maturity Model for Social Selling

Hearsay Announces Most Robust Financial Services User Maturity Model for Social Selling

Through holistic behavior analysis, Hearsay combines insights at the advisor level with best-of-breed solutions and training to uplevel social performance

San Francisco –October 19, 2023 – Hearsay Systems, the trusted global leader in digital client engagement for the financial services industry, announced its User Maturity Model, designed to evaluate and quantify advisors’ social behaviors and help firms uplevel their social selling programs. Leveraging a data sample from over 200,000 financial professionals across the insurance, wealth management, and banking industries, Hearsay provides firms guidance to get the most from their social selling programs, resulting in better engagement, deeper relationships, and increased sales. 

Hearsay’s User Maturity Model uniquely shows organizations where their individual team members are on their respective social selling journeys and offers targeted guidance and training on how they can be more effective, through specific actions they can take to improve results. More than just a framework, users leverage Hearsay’s tailored approach to transform individual social media practices in order to create substantial impact.

“For social programs to have meaningful ROI, there must be measurement. Which activities correlate to greater engagement? What moves the needle with clients?,” said Leslie Leach, Chief Marketing & Strategy Officer of Hearsay Systems. “Our team has worked closely with customers to test and refine our model to demonstrate the correlation between social media usage and key business metrics such as new leads, quotes issued, and AUMs/Premiums. . Unlike anything else available today, Hearsay demonstrates exactly where social maturity meets measurable growth, to help firms uplevel their social programs and gain a true competitive advantage.”

How It Works

Upon customer request, the User Maturity Model scores specific social behaviors such as adoption of multiple social channels, amount of network growth, user-created published content, and 1:1 engagements, and ties those behaviors to business results. The most comprehensive model of its kind, Hearsay’s User Maturity Model has six tiers, including:

  • Tier One: Consistently Mature. Users who reach Tier One consistently score high across all key social selling dimensions, resulting in the best social performance across all key behavioral indicators.
  • Tier Two: High Interactor. At this level, users are aware of the value and power of social media. They leverage publishing and nurture their networks to maintain a strong presence, albeit inconsistently.
  • Tier Three: Social Networker. These users maintain strong social networks, consistently growing their reach and connections but with minimal social activity
  • Tier Four: Set It & Forget It. Users in this tier primarily utilize campaigns to maintain a presence. They need help creating personalized content. They also have no (or minimal) social interactions, resulting in limited if any engagement.
  • Tier Five: On-Brand Presence. Users have connected social accounts with approved profiles, but there is very little (if any) publishing or any form of social interactions.
  • Tier Six: Connected Account. At the base level, users have workspaces with connected accounts, but no approved profile, no publishing or interactions on social media. (Having a compliance-approved profile is critical to ensuring the organization is protected from litigation.)

Based on which tier advisors/agents fall into, Hearsay can provide specific education, training, and guidance to advance to the next level(s). Hearsay tailors its program to the organizations it works with, re-evaluating maturity at regular intervals. In doing so, Hearsay hones in on where positive progress is made, as well as where individuals could use additional help.

In customer engagements, Hearsay’s Maturity Model has led to substantial improvements. For example, one of the industry’s largest customers, with more than 7,500 field advisors, has already experienced impressive outcomes, including accelerated conversion rates and a deepening of client relationships through social media. Additionally, 61% of advisors in the program have attributed more than $1mm in incremental AUM to social selling. Other organizations have integrated Hearsay’s Maturity Model insights into their existing internal systems. 

To learn more about how Hearsay can help your team, please visit www.hearsaysystems.com.

About Hearsay
As the trusted global leader in digital client engagement for financial services, Hearsay Systems empowers over 261,000 advisors and agents to proactively guide and capture the last mile of digital communications in a compliant manner. The world’s leading financial firms—including BlackRock, Charles Schwab, and New York Life—rely on Hearsay’s compliance-driven platform to scale their reach, optimize sales engagements, grow their business and deliver exceptional client service. Hearsay is headquartered in San Francisco, with globally distributed teams in North America, Europe and Asia.

Connect on Facebook, X, LinkedIn and the Hearsay blog.

More press releases