Insurance carriers need to recognize that they are not different than online retailers and should begin to think that way. As the direct-to-consumer marketplace continues to grow, carriers will need to have the strategies and technologies in place to engage and nurture prospects or members with content that is tailored to their needs. While barriers such as regulatory compliance and data limitations may seem prohibitive, there are certainly ways of managing these potential challenges.
The statistics below provide support for having an integrated digital marketing strategy in place:
Americans spend on average 4.7 hours on their phones:
People in the U.S. check their Facebook, Twitter, and other social media accounts a staggering 17 times a day, meaning at least once every waking hour. This translates to an astounding 4.7 hours per day.
Mobile and search go hand in hand:
77% of online health seekers said they began their last session at a search engine such as Google, Bing, or Yahoo.
72% of Internet users said they looked online for health information within the past year.
Below are several ways carriers can benefit from the ability to hyper-tailor digital marketing programs to drive revenue and customer experience:
Marketing segmentation: In addition to online tools, carriers can leverage a CRM and customer analytics to engage with prospects or members based specific data segments: product inquiries, page views, psychographic behavior, household income or family size. This would allow carriers to tailor communications and products for customers.
Real-time optimization: Digital marketing allows for real-time campaign optimization to adjust timing quickly as product inventory and customer purchasing changes.
Metrics: Carriers can justify marketing budgets and monitor progress in real-time to evolve or quickly pivot on marketing strategy.
Test, refine, repeat: Digital marketing has the huge advantage of allowing organizations to test different messaging and content within the same audience. Quickly see which campaigns are resonating with prospects and convert them into loyal members.
Benefiting from a customer experience command center:
In order for carriers to have a consolidated view of all prospect and member interactions, they will need a customer experience solution that is specific to insurance. Zipari’s insurance CRM Apps-powered by data analytics, addresses the marketing challenges of the insurance industry, by providing carriers with a way to engage prospects, maximize conversions and determine member value. Click here to learn more and download the data sheet.