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The Changing Face of Insurance: The New Realities of Networking
Contributed by Martin E. Murphy, CPCU, SVP of The Jacobson Group
What else can you expect from the changing face of insurance? A change in the way you network. While face-to-face networking will never be obsolete, participating solely in face-to-face networking will put you at a disadvantage. Whether you network for career opportunities, industry knowledge, or an insiders' perspective on your field, engaging in a variety of social mediums will expand your network almost instantaneously.
So what exactly is social networking? Social networks have been around as long as people have interacted with one another. Today's definition of social networks has evolved to primarily describe websites that allow members to build profiles and link their profiles to other members, thus building their networks. Maximize your network by adding social networking to your career maintenance plan.
How can social networking benefit me?
Professionals should always practice and polish their in-person networking skills. Industry cocktail hours and the tried-and-true business card exchanges will never be completely out of style. However, with today's fast-paced work environment and busy schedules, networking websites can provide immediate access to thousands of professionals in your industry. Rather than wandering around events scoping out name tags, social networking allows you to simply log on through your computer to view industry trends; join virtual professional groups; and discover who in your network has recently switched jobs, been promoted, or is looking for a new position.
Several social networks allow you to see what your contacts are currently doing (they can manually update their 'statuses'), as well as the people that they are connected to through that site. It would take a lot of conversation to figure out that your former classmate now heads a business that you have wanted to work with for years or that one of your major clients will be on a layover in the same airport at the same time as you.
Professional and industry groups are popular on several social networking sites. These groups encourage members to exchange ideas on current industry topics and trends. Share expertise and insight by frequenting the discussion boards and posting and answering questions. Joining these groups will even further expand your network.
Why should I be on a social network?
Even if you do not actively participate in social networks, it is a place to "see and be seen." Scope out where your competitors have profiles. At least your name or company name should appear in search results on those sites. You don't want to be overlooked. Additionally, many people use social networking sites as a means of following up after in-person interactions. Social networks are a great way to keep in touch with your entire network on a regular basis in a virtual environment.
What do I put on my profile?
While social networks are used for both professional and personal reasons, be mindful of who has access to your profile. Employers are beginning to research potential hires via social networking tools before making an offer. Your profile doesn't need to be strictly business, but don't include any information or photos you wouldn't want your boss and thousands of your closest friends to see!
Additionally, most networking sites allow you to customize your privacy settings. You can control who can view your information, as well as what sections of your profile are public. Take care to explore these options when setting up your social networking profiles.
Where can I start?
Of the vast number of social networking sites out there, here are a few of the most popular to get you started:
LinkedIn: LinkedIn (www.linkedin.com) is a social network with a user base aimed at professionals. User profiles read like resumes, listing current and past employers, position descriptions and accomplishments. Its features include job postings, message boards and industry-related groups in a business-oriented atmosphere.
Facebook: Facebook (www.facebook.com) began as a social networking site targeted at Harvard students. It has grown to include high school, international and professional members. Facebook allows you to build a profile about yourself that includes everything from work information and interests to hobbies, photo albums, personality quizzes, videos, etc.
MySpace: One of the most popular social networking sites, MySpace (www.myspace.com), began as a social networking community for bands. Similar to Facebook, MySpace users can build profiles that include a wide variety of personal and professional information, as well as photos, videos and music.
Twitter: Twitter (www.twitter.com) is practically a "mini blog." Primarily used for sending short messages (limit of 140 characters) across a network of contacts, Twitter broadcasts everything from major corporations' product updates to acquaintances' dinner plans.
Ning: Ning (www.ning.com) competes with the major social networking sites by allowing users to create their own social networks based on common interests. Users can create their own networking sites, as well as search Ning's database of social networks to find ones that are suitable to them.
Remember that while social networking sites are not a substitute for in-person networking; they should be a welcomed supplement. No matter what your medium, remember the basics of networking: it's not what you know, it's whom you know; and always be networking!
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