Better Insurance Marketing Through Personalization

Forming a bond with clients is important across a number of industries, but perhaps none more so than insurance. Producers are responsible for providing not just a valuable service to clients, but a roadmap for their futures. From life insurance to long-term care, insurance professionals offer products that move past financial concerns and strike at the heart of clients’ needs regarding their lives and the lives of their loved ones.

It’s only natural that success in this regard requires feelings of trust on the part of clients. However, forming that bond can be easier said than done, especially in the beginning stages when producers are marketing themselves to potential clients.

While tailoring your services to the specific needs of a client is one strategy to clear this hurdle, data shows that businesses are having a difficult time creating personalized customer relationships. However, a new report from analytic data company Teradata, titled “Enterprise Priorities in Digital Marketing,” provides clues on how insurance professionals can better connect with clients.

Insurance producers can personalize marketing and build customer relationships with the right email strategy.Utilizing digital tools

Predictably, in today’s digital business world, more companies are turning to technology to better personalize client relationships. The report found that that nearly two-thirds (62 percent) of businesses view improving customer satisfaction as the top reason to invest in more technology, while becoming more customer-centric was the top priority for technology investment for 49 percent of organizations.

However, while 32 percent of enterprises believe client personalization is a top priority, fewer than 20 percent are actually undertaking strategies to ensure this on a day to day basis.

Putting client information to work

The report also found that client data is key to providing insights into the wants and needs of consumers. This is one area where insurance producers have a leg up over the competition, as they’re in a uniquely qualified place to receive detailed information about clients’ behaviors, preferences and personal circumstances. However, making the most of this information requires investment.

“Strategic direction is only as powerful as the investment that supports it,” Darryl McDonald, president of Teradata marketing applications, said in a recent media release. “We’ve been talking about personalization for years. Now, through digital marketing, custom analytics and marketing as a service the appetite is real, and true personalization is the future. Only a customer-centric strategy that combines technology and data can deliver sustainable opportunities for businesses to drive top-line growth through continuously more personalized data-driven marketing strategies.”

Building client relationships efficiently and effectively

While more businesses are devoting budgets and resources to cutting-edge marketing techniques intended to personalize the marketing experience, insurance producers have simpler, more affordable options at their disposal as well.

Even as social media and mobile marketing become more important, email remains one of the best ways for producers to reach out to clients and create a personal relationship. In fact, a report from digital marketing software firm ExactTarget found that 77 percent of consumers prefer to receive permission-based marketing communications through email over every other channel.

The question is: How can producers build customer relationships via email? Once again, it comes down to personalization.

An email that seems irrelevant to a potential client is much more likely to find itself in the garbage bin. This makes it essential for insurance producers to avoid boilerplate newsletters and instead tailor emails to the specific needs of the client. Age, gender, geographic location, employment status – these factors and more will all play a role in what kind of services a potential client may be after.

Just as important as relevancy is the quality of the information provided. Clients don’t want platitudes and fluff – they crave usable information that lets them know a producer understands their needs and will be able to serve them. From relevant facts and figures to specific products and their benefits, producers need to ensure their emails are not just personalized, but valuable.

There are a number of tools professionals can use to enhance client communication, such as email marketing services like MailChimp and Constant Contact. These platforms offer services that allow professionals to tailor their content to the client easily and view the response results.  They also allow users to upload and divide email addresses into lists, so that producers can target the right audience with the best content. Exploring different email marketing options can help insurance producers find the solution that suits their needs best.

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