Digital Marketing Trends in the Insurance Industry
Expert Tips for Run Digital Marketing Trends In Insurance Industry
Insurance plays an integral role in people’s lives. Much like buying a home, consumers are very particular and meticulous about purchasing insurance, even from major insurance companies.
If you’re an insurance company looking to drive better lead generation tactics, then you’re facing a steep challenge. Marketing in the insurance industry is a comprehensive and detailed process.
To help you on your journey of finding the best digital marketing practices for insurance companies, we’ve listed a few trends that are shaping marketing in this industry.
Real Referrals are Necessary
People are generally distrustful of any information that doesn’t come from an authoritative source. Unfortunately, marketing is entirely subjective. It basically consists of one company telling a story of why they’re the top company in their industry.
For this reason, referrals are paramount. According to Nielsen, consumers are 4x more likely to purchase a product or service if they are referred by a friend or relative. In addition, 84% of consumers stated that referrals are the most trustworthy source of recommendations.
If this is the case, then why aren’t more brands using referral marketing? The answer isn’t clear, but many insurance companies may be reluctant to follow-up with each successful lead. This is especially true if the insurance company isn’t using a marketing automation tool.
Whatever the case may be, referral marketing is a vital aspect of generating qualified leads.
Personalized Content is Key
This trend has been brewing for a while, yet consumers still feel that insurance companies aren’t nailing this down. 31% of consumers state that they wish their shopping experience was more personalized.
Furthermore, 57% of consumers say they are more willing to provide their personal data in exchange for a customized experience. With that said, let’s make one thing clear – adding the first name to correspondences isn’t personalization.
The meaning is much deeper than that. The insurance industry is fortunate since companies have a wealth of their leads’ personal information. Building a plan for using this information to make leads “feel at home” can help companies provide the personalization their leads are looking for.
Eliminate Departmental Silos
When a person does business with an insurance company, they see the company as a singular brand. Therefore, they don’t understand why customer service representatives don’t access to sales history and why account managers can’t see the record previous calls.
Telling these customers that things just don’t work that way can lead to frustration to the point of extreme risk. Don’t fall into this trap.
Instead, break down these barriers by institutionalizing a singular system for all employees to access. For example, marketing and sales teams typically work together in any type of business.
Sales teams have access to marketing collateral and a broad understanding of how it can help them. Likewise, marketing teams understand the pain points of the sales cycle and implement this into the marketing collateral.
In the same way, you can unify your insurance company to reduce costs and improve operational efficiency? Need help with implementing a marketing strategy for your insurance company in the form of Google ads or SEO? If so, contact Accunity today to speak to a member of our brilliant sales team.
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