We must use consumer data to build and predict how the customer will act at each stage of his/her insurance life cycle during the customer journey. Insurance marketers are still in the early stages of understanding the Internet and all that it means. We need to be positioned with innovative products, distribution methods, partnerships, and omnichannel marketing to take affinity marketing to the next level. To create and build trust with your target audience and establish an emotional connection with consumers. To educate and create curiosity through social media to get all ages out of their seats and engaging with your brand. To tell a cohesive story across all media channels so your customers can Like it, Tweet it, and be your brand ambassadors. To humanize the relationship.
Walt Disney said it best: “…we must keep moving forward, opening new doors, and doing new things because we are curious, and curiosity keeps leading us down new paths…”
To that point, I spoke at this year’s PIMA Mid Year Meeting and enjoyed participating in a Q&A session, the content of which I will share with you in a serialized manner, over the coming weeks.
Moderator: What technologies do you need to make omnichannel work?
ADREA: Omni-channel has its challenges. It includes the careful use of carrier/partner databases, independent third-party data, technology, and creative assets. Media and vendor partners and technology suppliers have utilized a totally different approach for decades.
Whether using internal tools or third party assistance, carriers need to capture certain aspects of the solicitations and responses. Customer analytics and multi-platform attribution are essential for omnichannel success, with a focus on data from traditional and digital sources to assess the value of data contribution from first-, second-, and third party data sources. Develop multichannel attribution models, which will inform – not necessarily drive – marketing. Customer analytics have been a part of the insurance industry for years, helping identify, target and engage with different consumers based on demographic, transactional and attitudinal data.
Touch point captures should include the time line of when consumers are exposed to and receiving messages. With technology changing at a rapid pace, all systems should have the ability to grow and expand with the new media and technology platforms we have yet to see.
Capturing other data elements is critical in the success of the technology and overall campaigns. We recommend assigning customer IDs or key codes for easier system reference. The call center and web portals should all be coordinated with direct mail solicitations so the consumer can be tracked across all channels.
Online tracking tools are now available to monitor website visitors. Using this technology, though tracking links on a webpage or display ad, we are able to analyze the consumers who visit a web page but do not take any further action. Understanding these “window shoppers” can also help improve the effectiveness of omnichannel campaigns.