marketing

4 Tips for Stronger Insurance Marketing

The insurance industry is competitive and full of businesses that are hungry for success. With the customer journey more important now than ever, it’s no surprise that insurance brands are looking for ways to stand out and succeed. Often, this means requesting the aid of services that boost marketing results.

While this will look different for every insurer, there are some common threads. From marketing automation to orchestration and your service lineup, here are some ways you can craft standalone campaigns, series, and workflow improvements that benefit the individualized customer experience.

1. Incorporate marketing orchestration.

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When you think orchestration, you probably imagine a group of musicians working together to play the same piece. In marketing, orchestration fulfills a similar role. Typically, insurance marketing focuses on standalone campaigns and one-off processes. However, in the insurance industry, these don’t necessarily help with account-based marketing efforts. That’s where marketing orchestration can help. With marketing orchestration, you regularly focus on a set of related cross-channel interactions to develop a more personalized customer experience. This equates to marketing campaigns that don’t feel cold or impersonal while still addressing specific customer needs.

2. Streamline services for maximum marketability.

These days, customers want quotes quickly, effectively, and as accurately as possible. Whether you’re working with someone who’s choosing a healthcare plan or you’re running background checks for company vehicle insurance, you’re going to need accurate ways to pull and review driving history. With automation and some new products, this is easier, especially for the MVR check process. The MVR, or motor vehicle record, tells auto insurers how much of a risk a driver is. However, the time it takes to acquire an MVR report can slow down your sales team and impact your market strategies. Plus, when you have streamlined, convenient services, they’re easier to market digitally and through direct mail.

3. Don’t neglect traditional marketing methods.

While much B2B marketing is strictly digital these days, B2C marketing that insurers require is different. In the marketing industry, it’s easy to shrug off seemingly outdated strategies like mailers, flyers, and physical advertisements. However, data sources show that traditional marketing still has its uses. While your vendor methodology may vary, it’s still a good idea to use traditional marketing for renewals, new products, and ongoing promotions. Though the marketing technology landscape continues to shift, some reliable methods still hold their own. While you can’t pivot your target accounts as quickly, these marketing tactics may well fit your ideal customer profile.

4. Invest in marketing automation tools.

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Even if you’re only using a single platform, marketing automation can help. For those that depend on numerous marketing channels, it’s even better. Depending on your marketing calendar and permissible use, automation allows you to connect with insurance applicants, create new touchpoints, and smooth out existing bottlenecks. Plus, investing in automation further empowers your marketing team and can boost engagement with new products and positive trends for target accounts. On top of this, if you work on a platform that integrates with your CRM of choice, it’s that much easier to pull additional information from key data points. This benefits your marketing silos, and your overall sales funnel as you reach for more engagement plays.

Especially due to COVID-19, insurers are facing stiff competition. With the right B2C and B2B marketing efforts, however, it’s easier for these brands to not only occupy a market space but to thrive within that space as well. Between investing in smarter automation that allows you to pivot to individual customer needs and rethinking your approach to marketing automation, there are ways to give your business a competitive foothold over similar brands. It’s the best way to help ensure your success.