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Social media case study: LV= (Liverpool Victoria)

Guest post by: Jo Stratmann

Article Overview: Social media agency FreshNetworks helped LV= use social media to learn more about their customers.

Social media case study: LV= (Liverpool Victoria)

LV= started out as London Victoria in 1843 with the mission of providing financial security and peace of mind to people in the UK, and are currently one of the UK's leading insurance, investment, and savings providers. As a mutual company, LV= are owned by its members, which allows them to focus on improving products and services for their customers without the pressure of shareholder targets to meet.

Social media agency FreshNetworks were asked by LV= to improve their online community, and to make it more valuable and engaging. This brief included increasing and harnessing customer activity in order to gain valuable insight and innovation, and gain valuable customer feedback to improve LV= products and services.

Following an in-depth analysis of the existing community, the FreshNetworks team helped LV= develop a social media strategy to meet their key business needs and recommended they make their community portal open to the public, rather than closed and private, in order to increase interaction.

After a full rebuild of the LV= community, the existing user data was seamlessly migrated across to the new site, and a "members only" area was created to allow for targeted marketing and product testing. The community incorporated news, forums and a picture gallery for competitions, as well as integration with LV= Twitter, Facebook and YouTube channels. Included was an ideas section for members to feed ideas back to LV=, and an "ask the expert" section for members to get free advice on LV= products and services.

FreshNetworks community management team maintain and enrich the community, ensuring customer comments and queries are directed to the correct LV= staff to build quality relationships with their customer base. This includes detailed analysis of community activity metrics and the generation of reports to ensure LV= reach their main KPI's.

The LV= community is now thriving, with over 7,300 community members, and more joining every month. Extremely valuable insight has been generated by the completion of 2,500 surveys by LV= community members, and a massive 57% of community members are LV= members, which has allowed LV= to further develop customer advocacy through the portal.

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Article Tags: freshnetworks, liverpool victoria, LV, social media, social media case studies



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