You have rolled out several different offline and online marketing campaigns, yet struggling to acquire new customers for your insurance business?
Have you considered using direct marketing for your insurance business?
According to Google statistics;
- 9% response rate of direct mail as compared to 1% paid search, 1% email, 1% social media, 0.3% online display
- 41% ROI on direct mail as compared to 50% paid search, 50% social media, 20%online display, 145% email
These statistics look encouraging but what is direct marketing?
Direct Marketing Explained
Direct marketing is a highly efficient strategy for improving engagement with prospects and driving sales in the Insurance industry. It involves communicating with potential customers through several offline and online channels. The direct marketing insurance services messages use a specific call-to-action (CTA) phrase, such as, “Download e-Guide”, “Subscribe Now”, “Call Now”, etc. A business can instantly measure the campaign’s result because it can track how many prospects have responded to CTA.
What comprises direct marketing?
- Physical mail
- Short Message Service (SMS)
- Telemarketing (cold calling)
- TV commercials or infomercials
- Face-to-face selling
- Door-to-door flyers
- Coupons give away
Who is the Audience?
Customers and prospects who have opted-in for mailing lists that include promotions, newsletters, etc. Such an audience has indicated an interest in a company’s services/products.
How do insurance agencies succeed?
Insurance digital marketing can come to your rescue! Direct marketing campaigns use the following five key strategies to improve lead generation and sales.
- Personalized content on different life stages
- Personalized insurance rates
- Create a plan to reduce obstacles encountered by prospects
- Affinity programs for higher engagement
- Digitalizing marketing strategies
- Personalized content on different life stages of consumers
Personalization is the key to the success of insurance direct marketing. Often, insurance companies align their products with different life stages. Personalizing the product’s content and images to match a prospective buyer’s life experiences enables insurers to engage easily with them and convert. For instance, targeting first-time homebuyers with a home insurance policy advertisement will receive a better response than others.
- Personalized insurance rates
Extracting age and gender from the mailing list data to offer customized insurance rates and fees enables insurers to attract targeted audience attention faster and convert easily. Moreover, customization encourages higher engagement rates and accurate costs that help prospective customers to make an educated decision. Subsequently, it adds value to your customer conversations and helps to strengthen your brand image and gain more customers
- Create a plan to reduce obstacles encountered by prospects
Fall off is a threshold when prospects fail to progress in their buyer’s journey. Analyzing at what stage the leads stop their interaction with an insurance company can significantly help them to remove the obstacles. With fewer obstacles in their path prospects are more open and ready to convert.
For instance, your current application form is complex and lengthy which discourages your lead to move forward. You can create shorter and simpler forms to fill. Alternatively, you optimally pre-fill forms. For insurance direct mail marketing why don’t you send a pre-paid envelope for your prospects to return the essential documents.
- Affinity programs for higher engagement
For encouraging your target audience to engage with your content (videos, newsletters, advertisements, etc.) insurance companies must have an official affinity relationship with sports teams or consumer brands. An affinity relationship offers benefits to your prospects and consumers which keeps them hooked to your brand and strengthens their loyalty.
For example, you can offer special discounts on consumer brands or offer game passes for your local sports team. Now how wouldn’t love that?
- Digitalizing marketing strategies
With assistance from seasoned digital marketing for insurance companies agencies, you can create digital campaigns focused on brand recognition, building and strengthening, and for generating quality leads that will convert into loyal customers. Some of the tactics created by the agency to help you improve ROI and sales include;
- Video Marketing
- E-mail Marketing
- Social Media Marketing
Video Marketing
Videos have gained immense popularity thanks to social media channels. Users live stream videos or post shorter video clips on Instagram, Facebook, and LinkedIn.
Forbes research report indicates;
- 40% of decision-makers connected with a vendor after watching a video
- 65% of users visited a vendor’s website after watching a professional video
Connect with your target audience by;
- Recording a 30-second clip on frequently asked questions, weekly
- Live streaming a fundraiser or an event
- Posting a story on Instagram that involves volunteering in your local community
Social Media Marketing
Social media advertising involves targeting demographics (zip codes, geographies), age, gender, interests, and consumer behavior to post short blog posts, advertisements, or videos on social media platforms (Facebook, LinkedIn, Twitter, Instagram) to network and engage your brand with your prospective customers.
E-mail Marketing
Sending weekly, quarterly, or monthly e-mails to your prospects/customers is an effective way to keep you on their mind. It also creates new business opportunities with social sharing and forwarding options. Simply create fresh and engaging content on industry or business or social events along with your promotional material to send them at regular intervals.
Digital marketing for insurance companies is what we at Amura do. Schedule a free consultation today to see how we can help you improve your business results.
