Insurance Marketing for Our Digital Future – Phonexa Canada

Tiara Gazarian

5 minute read

It’s no secret that the insurance space is one that experiences gaps in digital marketing and relevant tools for the future of marketing. Over the past year, this fact has become even more prominent as COVID-19 has made the marketplace more competitive, as well as the fact that  millennials are making up more and more of the insurance buyer’s circle. 

To help support businesses like yours, we recently uncovered a few of the marketing tricks that will help you stay competitive within the insurance industry. For those of you unable to attend, not to worry – we’ll break down some of the key takeaways below. 

The Insurance Marketing Landscape

Before we jump into the digital marketing tips for your business, it’s important to know what some of the expectations are for the future of insurance marketing. 

Research shows that while the majority of consumers begin their insurance-buying journey online, less than 25% finish their purchase in the digital space. This means that the future of insurance marketing must achieve a very specific balance of maintaining a strong digital presence while also providing an option for an interpersonal connection. 

Also Read: Inbound Call Impact During COVID-19

When it comes to insurance marketing, having ways for customers to digitally interact with your brand is important, but so is being sure that they are able to make a phone call easily and that your business is just as prepared to track the results of that call lead and conversation.

The future of insurance marketing should be focused on two different types of consumers. Tech-savvy millennials should be marketed to differently than the older members of your constituency who always prefer to talk over the phone. With that being said, your marketing tactics can be refined and supported by certain tech stacks in order to attract both types of buyers. 

Digital Marketing Tips for Insurance Companies

1. Make it easy for the consumer with PPC campaigns. 

Marketing with Google Ads through pay-per-click or pay-per-call campaigns is the best way to market to customers who are not looking to fill out a form online. Giving a potential customer the option to call you immediately will make you stand out from the competitor who does not have a click-to-call option when searched. It’s important to note that 50% of consumers are searching for insurance quotes on a mobile device, so you should optimize your site for easy calling. 

2. Stay relevant and remember that consumer attention is currency. 

When a consumer starts to think about who they want to get a policy from, your company’s name should immediately come to mind. Good marketing should ultimately remind consumers of your brand even when they are not looking at your website or interacting with some sort of branded print collateral. Stay at the forefront of your customer’s thought process by utilizing the power of digital ads. 

3. Connect with consumers even at a distance by utilizing social media. 

With more and more consumers staying home, social media has become a lifeline for news, shopping, and connection. By tapping into these important networks, your company will be able to identify the specific customer you are looking for through different settings. For example, utilizing a platform like LinkedIn will allow you to target industry professionals for networking purposes and also to solidify your lender base. On the other hand, Facebook and Instagram will allow you to geotarget potential policyholders that may be interested in your company’s offerings. 

4. Optimize your business for mobile users. 

Create a landing page for your website that is mobile user-friendly. If your business is following tip #3 and utilizing Facebook ads that lead customers to your website, the landing page that follows should be as seamless as the app they were just scrolling through. 

If your landing page doesn’t have an inviting aesthetic, a clear call to action, a fillable form to get connected, or click to call option, the customer will most likely leave that landing page and your marketing efforts won’t result in a conversion. 

5. Use email and SMS marketing as a way to attract new business and retain customers. 

This particular marketing strategy is integral not just to update older systems, but for connecting customers and the next wave of insurance professionals as well. The habits of many millenials include interacting first and foremost within the texting space, and email marketing isn’t far behind that. 

Tools for Tracking Your Efforts

Having a tech stack at your fingertips that helps you identify which ads are profitable so you know where to put your resources, and gives you access to reporting over all your efforts and leads allows your marketing team to monitor their budget more closely and better understand their true ROI. 

While lead tracking software will do a great job in giving you insights into the demographics and behavior of your audience and the success of certain sources of inbound traffic, it’s the job of your marketing team to attract your ideal consumers and generate the inbound traffic. Purchasing traffic is very valuable because you are able to “cherry pick” the type of consumers you are looking for. For smaller agencies and brokers with smaller marketing budgets, this is a super valuable tool to attract consumers that have a higher probability of converting. 

In order to best utilize your tech stack or lead management software, having a consistent and successful way to generate traffic is needed. Generating organic traffic is often achieved through creating relevant content. Incorporating a blog or other content marketing assets to your website will not only help with your SEO efforts, but position your company as industry experts in the insurance marketplace as well. 

Last but not least, retaining your clients through digital platforms and incorporating a personalized element to each of those efforts is just as important as the hard work you pour into generating new business. Pivoting each of the strategies outlined above to existing policyholders is sure to go a long way. Through establishing a strong social media presence and positioning yourself as a trusted resource and industry expert, existing customers will always feel connected to your brand. 

Having all the tools in place and staying at the forefront of technology is only half of what to prepare for in the future of insurance marketing. It goes without saying that right now, all of us are missing that human connection of person-to-person interactions. It’s up to all industry professionals to bridge the gap and create an augmented digital experience through phone calls and personal support.