A new wave of powerful digital marketing tools enables insurers to create a more digital-friendly business for customers.
The digital revolution has dramatically changed consumer behavior in the past decade. Consumers today rely on online channels to research and buy an expanding array of products and services, often having little to no live contact with a company or its representatives throughout the entire purchase journey. In response, companies have had to work hard to ensure their offerings suit a digital world so they do not get frozen out by more digitally savvy competitors.
Insurers are no exception. They have invested considerable time and energy in developing new digital value propositions and products.
Now, insurers need to take the next steps to make those investments in digital pay off in the form of new customers:
- Execute the right digital marketing initiatives to identify and learn more about the right prospects.
- Progressively engage with them across devices and digital properties as they move along the purchase path.
Digital marketing tools
A new wave of powerful digital marketing tools have changed the game when it comes to identifying, reaching and interacting with prospects and customers. For insurers, they represent the next step in creating a more digital-friendly business that is in tune with how consumers live, interact with each other, and engage with product and service providers.
In the past several years, companies have made dramatic advancements in the sophistication and capabilities of their digital marketing tools. These new tools (see Figure 1) have fundamentally changed how marketers can prospect and what they can learn about specific individuals they are targeting. They enable marketers to not only find people with a high likelihood of buying specific products, but more importantly, create a level of intimacy with anonymous visitors through personalized experiences so they can convert them into hot leads and, ultimately, new customers.