Consumer Buying Behaviors:
How Shoppers' Behaviors Drive Effective Channel Strategies

BUYHAVIOR
I N SI G H T I N TO TH E ...
Today’s Discussion
•

Brief overview of Buyhavior™

•

Behavioral perspective of the insurance category

•

Using behavior...
Buyhavior™ Overview
We are creatures of nature.
How we look. How we act. How we buy.
Yes, how we buy. A function of life i...
Buyhavior™ Overview
BUYHAVIOR™

is about understanding the shopper
behaviors, habits, and motivations.
The goal of Buyhavi...
Buyhavior™ Auto Insurance Survey

5
Buyhavior™ Auto Insurance Survey
The Buyhavior™ Insurance Survey was fielded in September 2013. The following
are sample s...
Buyhavior™ - A Motivational Approach

7
Buyhavior™ - A Motivational Approach
There are four aspects to Buyhavior™:
•

Product Relationship: The foundation of
Buyh...
Product Relationship

9
Source: Buyhavior ™ Insurance Survey (September 2013)
Product Relationship Foundation
Product Relationship is a series of
questions that test for passion within the
category.

...
Buyer Motivation

11
Brand Strand
The Brand strand gauges the importance of Auto Insurance
Brand in a shoppers decision process.

Free Agent (5...
Brand Strand Insights
Citizen Advocates
• Brand Citizens are more likely to be Brand Advocates
(80% vs 67% overall)
•

Bra...
Wallet Strand
The Wallet strand gauges the importance of a deal or price in
an auto insurance decision.

Deal Seeker (84%)...
Wallet Strand Insights
Grass is Greener
• 55% of respondents stated the primary reason they
were shopping for insurance wa...
Time Strand
The Time strand gauges the shopper’s approach to
shopping for auto insurance.

Journey (45%)

Mission (55%)

1...
Time Strand Insights
Mission Procrastination Lock
• Mission shoppers put off shopping for auto insurance
until they absolu...
Buyhavior™ Typologies
A core insight from Buyhavior™ is the understanding of tension between DNA strands.
To accomplish th...
Auto Insurance Buyhavior™ Typologies
Branding Appeal
When looking at Geico and State Farm you begin to see
the effects of ...
Social Matrix Overview
The Social DNA gauges the shopper’s social activity
prior to and post auto insurance purchase exper...
Digital Ethnography
Digital ethnography is a social assessment to determine social themes within
the insurance shopping ex...
Social influence prior to purchase:
• 59% included a brand based on a positive opinion.
• 49% rejected a brand because of ...
Social influence post purchase:
• 51% talked about their purchase positively.
• 19% talked about their purchase negatively...
Decision Path

24
Influential Sources
The top 12 influential sources can be categorized as:
• Interrupt: Television Ads, Radio Ads, Direct M...
Insurance Decision Path
The following looks at five decisions a insurance shopper can potentially make and
influential sou...
Scenario

27
Purchase a Vehicle
Scenarios often get shoppers to rethink their insurance

31% of sample recently purchased a new / used
...
Applying Buyhavior™
to Auto Insurance

29
Buyhavior™ Motivational Platforms
The goal of Buyhavior™ is to build a motivational platform to
drive business results.
1....
Motivational Platform:
Cover My Passion
Cover My Passion
Dashboard

Shopping Scenario
Days
Shopping

Brand Scenario

Social Matrix

Facebook

12

Follower
20%

11...
Auto Purchase Intercept

Cover My Passion

Implication

Implication:
Since buying a new/used vehicle is a potential trigge...
Auto Purchase Intercept
Channel Strategy

Cover My Passion

Channel Strategy:
The channel strategy would be to intercept t...
Passion Gap

Cover My Passion

Implication

Implication:
There is potentially a large, untapped advocacy within
vehicle pu...
Passion Gap

Cover My Passion

Channel Strategy

Channel Strategy:
The channel strategy would be to capture the passion of...
Motivational Platform:
Free Range Bundle
Free Range Bundle
Dashboard

Shopping Scenario

Brand Scenario

Social Matrix

Facebook

Days
Shopping

4%

3.6
2.6

Socia...
Deal White Noise

Free Range Bundle

Observation

“And 15 minutes could save you 15% or more
“esurance was born online to ...
Deal Bundle

Free Range Bundle

Implication
We Say
Implication:
While there is an overwhelming amount of “deal” messaging
...
Deal Bundle

Free Range Bundle

Channel Strategy

Channel Strategy:
The channel strategy would be to layer the We Say, The...
Implication:
Wandering Wallets
Wandering Wallets

Cover My Passion
Free Range Bundle

Implication

Implication:
Regardless of target, people are looking ...
Deal Bundle

Free Range Bundle

Channel Strategy

Channel Strategy:
The channel strategy would be to layer the We Say, The...
In Summary
•

Discussed Buyhavior™ and how behavioral marketing can lead to successful
channel strategies.

•

Provided Bu...
Thank You

BUYHAVIOR
I N SI G H T I N TO TH E M O TI VA TI O N A L SO U L
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Buyhavior Insurance Study

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The following is a presentation an Auto Insurance Buyhavior Study. Buyhavior is about the shopper behaviors, habits, and motivations. The goal of Buyhavior is to develop a shopper motivational lens in order to focus marketing efforts to drive business results. At the core of Buyhavior is a proprietary diagnostic tool which identifies a shopper’s motivations within product category. Think of Buyhavior like Myers-Briggs for shoppers..

For more information go to www.MccannBuyhavior.com

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  • We are creatures of nature. How we look. How we act. How we buy. Yes, how we buy. A function of life is buying products. Over time we have developed a DNA, an inner inertia, which guides our purchase decisions. Think of this DNA like a river. A river defining our preferred shopper journey. When we shop, we normally go with the flow.
  • Spent as little time as possible …
  • VO: Social Shoppers are more likely to be Brand AdvocatesLone Wolf and Directors are more likely to be Free Agents
  • What is the duplication between online and personal shopping.
  • 81% of this target identified themselves as brand advocates or their insurance. Behaviorally, 38% of shoppers used reviews written by people they don’t know, and 57% stated they positively shared their purchase experience .
  • 81% of this target identified themselves as brand advocates or their insurance. Behaviorally, 38% of shoppers used reviews written by people they don’t know, and 57% stated they positively shared their purchase experience .
  • 81% of this target identified themselves as brand advocates or their insurance. Behaviorally, 38% of shoppers used reviews written by people they don’t know, and 57% stated they positively shared their purchase experience .
  • Buyhavior Insurance Study

    1. 1. Consumer Buying Behaviors: How Shoppers' Behaviors Drive Effective Channel Strategies BUYHAVIOR I N SI G H T I N TO TH E M O TI VA TI O N A L SO U L
    2. 2. Today’s Discussion • Brief overview of Buyhavior™ • Behavioral perspective of the insurance category • Using behavioral platforms to drive channel strategies 2
    3. 3. Buyhavior™ Overview We are creatures of nature. How we look. How we act. How we buy. Yes, how we buy. A function of life is buying products. Over time we have developed a shopper DNA, an inner inertia, which guides our purchase decisions. Think of this as a river. A river defining our preferred shopper journey. When we shop, we just go with the inherent flow. 3
    4. 4. Buyhavior™ Overview BUYHAVIOR™ is about understanding the shopper behaviors, habits, and motivations. The goal of Buyhavior™ is to develop a shopper motivational lens in order to focus marketing efforts to drive business results. At the core of Buyhavior ™ is a proprietary diagnostic tool which identifies a shopper’s motivations within product category. Think of Buyhavior™ like Myers-Briggs for shoppers. 4
    5. 5. Buyhavior™ Auto Insurance Survey 5
    6. 6. Buyhavior™ Auto Insurance Survey The Buyhavior™ Insurance Survey was fielded in September 2013. The following are sample specifics. Total sample: 775 Sample: Activities past six months: • 8% bought auto insurance for the first time • 61% shopped but did not switch • 31% switched providers 6 Source: Buyhavior ™ Insurance Survey (September 2013)
    7. 7. Buyhavior™ - A Motivational Approach 7
    8. 8. Buyhavior™ - A Motivational Approach There are four aspects to Buyhavior™: • Product Relationship: The foundation of Buyhavior™ is a person’s relationship with a product. • Buyer Motivations: Shopper motivations are the internal inertia that guides us in our decision process. • Decision Path: We analyze a shopper’s journey by segmenting the journey into a series of decisions that lead to purchase. • Scenario: A scenario is a situation out of a person’s control which may force them to alter their shopping approach. 8
    9. 9. Product Relationship 9 Source: Buyhavior ™ Insurance Survey (September 2013)
    10. 10. Product Relationship Foundation Product Relationship is a series of questions that test for passion within the category. For Auto Insurance we looked at: • Commodity (39%): To me all auto insurance is pretty much the same • Pay for Security( 48%): • Brand Advocacy (67%): I have very positive I’d rather pay more and have more insurance coverage to feel secure. feelings about my auto insurance provider and often recommend it to others. • Vehicle Passion (42%): My vehicle is my pride and joy. 10 Source: Buyhavior ™ Insurance Survey (September 2013)
    11. 11. Buyer Motivation 11
    12. 12. Brand Strand The Brand strand gauges the importance of Auto Insurance Brand in a shoppers decision process. Free Agent (55%) Brand Citizen (45%) 12 Source: Buyhavior ™ Insurance Survey (September 2013)
    13. 13. Brand Strand Insights Citizen Advocates • Brand Citizens are more likely to be Brand Advocates (80% vs 67% overall) • Brand Citizens are more likely to pay for security (64% vs 48% overall) Free Agent = Free Range • Free agents are less likely to bundle their auto policy with another policy (41% versus 28% for Brand Citizens). • Free Agents are more likely to view auto insurance as a commodity (49% vs 39% overall) 13 Source: Buyhavior ™ Insurance Survey (September 2013)
    14. 14. Wallet Strand The Wallet strand gauges the importance of a deal or price in an auto insurance decision. Deal Seeker (84%) Price Blind (16%) 14 Source: Buyhavior ™ Insurance Survey (September 2013)
    15. 15. Wallet Strand Insights Grass is Greener • 55% of respondents stated the primary reason they were shopping for insurance was they felt they were paying too much. Dealing within Brands • 72% of Deal Seeker shoppers priced out auto insurance and then bought (or maintained) where it was the cheapest. • However, while Deal Seekers were looking for a deal, only 41% viewed insurance as a commodity. 15 Source: Buyhavior ™ Insurance Survey (September 2013)
    16. 16. Time Strand The Time strand gauges the shopper’s approach to shopping for auto insurance. Journey (45%) Mission (55%) 16 Source: Buyhavior ™ Insurance Survey (September 2013)
    17. 17. Time Strand Insights Mission Procrastination Lock • Mission shoppers put off shopping for auto insurance until they absolutely had to (68% compared to 22% for Journey shoppers). • 80% of Mission shoppers knew the providers they wanted when they started quoting (compared to 38% for Journey shoppers). 17 Source: Buyhavior ™ Insurance Survey (September 2013)
    18. 18. Buyhavior™ Typologies A core insight from Buyhavior™ is the understanding of tension between DNA strands. To accomplish this we combine Brand, Wallet and Time into eight typologies. The following is an example of Free Agent, Deal Seeker, and Mission. The FDM or Brand Surgeon type is the largest auto insurance shopper typology type comprising 29% of respondents. Brand Surgeons DNA Strands FDM 29% Free Agent Brand Brand Citizen Price Blind Wallet Deal Seeker Deal Seeker Mission Time Journey Mission Free Agent 18 Source: Buyhavior ™ Insurance Survey (September 2013)
    19. 19. Auto Insurance Buyhavior™ Typologies Branding Appeal When looking at Geico and State Farm you begin to see the effects of branding on behavior. • Geico’s “15 minutes and save at least 15%” appeals to the FDM type who desires to get the deal quickly. State Farm’s emphasis on personal service appears to appeal to Brand Citizens. The grid below displays the primary shopper typologies overall and for different brands. Tension Amplification Tensions between DNA strands get amplified within typologies. • • With FDM we see a much higher commodity perspective (56% compared to 39% overall). BDJ demonstrates the highest Vehicle Passion (55% versus 36% overall) and Brand Advocacy (83% versus 67% overall). 19 Source: Buyhavior ™ Insurance Survey (September 2013) Geico BPM 5% 4% State Farm 8% BPJ • Base 4% 5% 12% BDM 19% 11% 28% BDJ 17% 16% 16% FPM 3% 2% 4% FPJ 3% 2% 2% FDM 29% 42% 17% FDJ 20% 19% 14%
    20. 20. Social Matrix Overview The Social DNA gauges the shopper’s social activity prior to and post auto insurance purchase experience. Generating High Low Seeking Low High Follower Social Shopper 23% 46% Lone Wolf Director 16% 14% Social influence prior to purchase: • 59% included a brand based on a positive opinion. • 49% rejected a brand because of a negative opinion. Social influence post purchase: • 51% talked about their purchase positively. • 19% talked about their purchase negatively. 20 Source: Buyhavior ™ Insurance Survey (September 2013)
    21. 21. Digital Ethnography Digital ethnography is a social assessment to determine social themes within the insurance shopping experience. For the purposes of this “Auto Insurance” review • From Brandwatch we gathered over 31,000 mentions of “Auto Insurance” from August 19th – September 17th • Sampled 1,200 mentions from Twitter and Facebook • We identified over 250 qualified mentions that were thematically categorized 21 Source: Buyhavior ™ Insurance Survey (September 2013)
    22. 22. Social influence prior to purchase: • 59% included a brand based on a positive opinion. • 49% rejected a brand because of a negative opinion. Social Prior to Purchase Conversations are about seeking advise: life situations, brands, agents, and best deal. 22 Source: Buyhavior ™ Insurance Survey (September 2013)
    23. 23. Social influence post purchase: • 51% talked about their purchase positively. • 19% talked about their purchase negatively. Social Post Purchase Social posts are about payment bragging, brand bragging and pay it forward. 23 Source: Buyhavior ™ Insurance Survey (September 2013)
    24. 24. Decision Path 24
    25. 25. Influential Sources The top 12 influential sources can be categorized as: • Interrupt: Television Ads, Radio Ads, Direct Mail • Intercept: Search Engines • Advisory: Word of Mouth, Consumer Review Websites • Online Shopping: Brand Websites, Agent Websites, Independent Websites • Personal Shopping: Agents, Insurance Brokers, Call Center Agent Insurance Brokers 11% Website Word of Mouth 33% Brand Websites 27% Direct Mail 8% 8% Agents 22% Radio 7% 25 Source: Buyhavior ™ Insurance Survey (September 2013) Search Engines 19% Television Ads 31% Consumer Review Sites 22% Call Center 10% Indep. Web Site 10%
    26. 26. Insurance Decision Path The following looks at five decisions a insurance shopper can potentially make and influential sources exceeding 20%. Worth noting: • The effect of Word-of-Mouth (or advisory) influence on each core decision an insurance shopper is making. • Televisions influence on Brand promotional decision. • While a deal can be promoted (Television), but the pricing decision is a personal discovery. WOM 21% TV 26% Policy Options Brand Website 22% WOM 25% TV 20% Brand Decision Agent s 22% Brand Find Promo/ Deal Price Decision Brand Website Website 20% 22% 26 Source: Buyhavior ™ Insurance Survey (September 2013) WOM 20% WOM 22% TV 20% Agent Decision
    27. 27. Scenario 27
    28. 28. Purchase a Vehicle Scenarios often get shoppers to rethink their insurance 31% of sample recently purchased a new / used vehicle they were insuring. Switch or Stay? • 46% of recent vehicle purchasers felt they were paying too much for insurance. (55% Overall) • 56% of respondents purchasing a new/used vehicle shopped but did not switch. (26% switched and 18% had first policy) 28 Source: Buyhavior ™ Insurance Survey (September 2013)
    29. 29. Applying Buyhavior™ to Auto Insurance 29
    30. 30. Buyhavior™ Motivational Platforms The goal of Buyhavior™ is to build a motivational platform to drive business results. 1. Identify opportunities, dimension size, and understand target motivations to effectively move them to purchase. 2. Define the decision path by opportunity target. This is a combination of purchase trigger, decision process, and influential sources. 3. Brainstorm to create a motivational brand platform(s) to move the target to purchase. To do this we use a robust consumer-centric design process which engages subject matter channel experts. 4. Optimize results based on Key Performance Indices (KPIs) as defined in Step 1. 30
    31. 31. Motivational Platform: Cover My Passion
    32. 32. Cover My Passion Dashboard Shopping Scenario Days Shopping Brand Scenario Social Matrix Facebook 12 Follower 20% 11% 51% Lone Wolf Director 16% Policy Attributes Cleveland, OH Insurance Perspective 92% I have very positive feelings about my auto insurance provider and often recommend it 81% To me, all auto insurance brands are pretty much the same (Disagree) 73% Consider an auto insurance provider based on positive word of mouth. I avoided shopping for my auto insurance until I really needed to. (Disagree) Expressed positive opinion post purchase. 60% Decision Footprint Target Lowest Price Policy Options 57% Brand Consideration & Quotes % Considered % Quoted Promotion Experience with Brand Knowledgeable Service Experience with Agent Convenience 30% 20% 10% 0% Brand ReputationWork with Allstate Geico Progressive State Farm Agent in Person Online Transactions Decide on How Decide Decide Policy much to on on Options Pay Brand Agency Brand Share 25% Promo /Deal 20% 39% 17% 13% 26% 15% 24% 15% Word of Mouth 34% 24% 24% 25% 23% 18% 10% Brand Websites 31% 25% 26% 22% 15% 24% Cons. Rev. Websites 26% 19% 17% 23% 13% 14% Search Engines 58% Quotes Submitted 40% Attribute Importance TV Ads 62% Brands Considered 50% 66% Bundled 1.9 Vehicles New 9% Policy 31% Switched Steve and Linda Watson 3.7 2.7 Social Shopper 13% Good insurance coverage helps me to worry less. Target Size: 31% Median Premium: $182 Brand Citizen / Deal Seeker / Journey 22% 13% 15% 16% 11% 15% Agents 22% 19% 19% 14% 13% 18% 32 Source: Buyhavior ™ Insurance Survey (September 2013) 5% 0% Allstate Geico Progressive State Farm
    33. 33. Auto Purchase Intercept Cover My Passion Implication Implication: Since buying a new/used vehicle is a potential trigger to rethink the insurance, intercepting this mindset is a key strategy in getting on the target’s list. Solution: • Deal Triangle: In automotive the majority of new vehicle purchasers are basing the deal on three factors. The goal is to move from a Deal Triangle to a Deal Diamond. • Deal Diamond: Building on the Deal Triangle, the goal of the messaging would be to insert the monthly insurance payment into the decision process. 33 Negotiated Price Monthly Car Payment Financing/ Incentive Trade-In + Insurance Payment Insurance Payment
    34. 34. Auto Purchase Intercept Channel Strategy Cover My Passion Channel Strategy: The channel strategy would be to intercept the auto shopper while they are thinking about their purchase decision. The following list of potential media: Channel Type Possible Channels Interrupt Online Ads :auto shopping sites, behavioral targeting Newspaper : Auto section, adjacent to dealer ads Online Search: Search Engine Marketing (SEM) and Search Engine Intercept Optimization (SEO) Online Ads: auto insurance sections of websites 34
    35. 35. Passion Gap Cover My Passion Implication Implication: There is potentially a large, untapped advocacy within vehicle purchasers that can be leveraged in vehicle purchase. Solution: • Say It Forward: By combining the enthusiasm of a new vehicle with the desire to share their deal, a brand has the potential to create relevant social sound bites. The brief social story would contain their new vehicle brand and their savings. 35 Look at My Car Say it Forward See my Savings
    36. 36. Passion Gap Cover My Passion Channel Strategy Channel Strategy: The channel strategy would be to capture the passion of the new vehicle purchaser combined with their insurance deal and leverage within the brand’s marketing. The following list of potential media: Channel Type Possible Channels Interrupt Online Ads :auto shopping sites, behavioral targeting Online Search: Search Engine Marketing (SEM) and Search Engine Intercept Optimization (SEO) Online Ads: auto insurance sections of websites Online Shopping Brand/ Agent Website: Brief social stories on their deal. 36
    37. 37. Motivational Platform: Free Range Bundle
    38. 38. Free Range Bundle Dashboard Shopping Scenario Brand Scenario Social Matrix Facebook Days Shopping 4% 3.6 2.6 Social Shopper Follower 25% 14 41% Lone Wolf Director 15% 16% 60% Policy Attributes Vehicles 2.1 New 7% Policy 32% Switched The Williams Family Portland, OR I wouldn't have felt satisfied with my choice, unless I had felt I’d gotten a good deal. 91% When choosing auto insurance, I chose lower prices over brand name. 76% I didn't choose a particular brand, I just bought auto insurance. I priced out auto insurance at more than one provider, and then I where cheapest. I rather pay more for more coverage to feel secure. (Disagree) Decision Footprint Target Word of Mouth 73% TV Ads Brand Websites Agents 73% 63% Cons. Rev. Websites Search Engines Source: Buyhavior ™ Insurance Survey (September 2013) Quotes Submitted Brand Consideration & Quotes % Considered % Quoted 40% Attribute Importance 30% Policy Options Lowest Price Experience with Brand Promotion Knowledgeable Service Experience with Agent Convenience 20% 10% 0% Brand Reputation Work with Online Transactions Agent in Person Insurance Perspective 93% Brands Considered 50% 100% Bundled Brand name has very little importance Target Size: 33% Median Premium: $199 Free Agent / Deal Seeker / Mission Decide on How Decide Decide Policy much to on on Options Pay Brand Agency Geico Progressive State Farm Brand Share 25% Promo /Deal 31% 29% 26% 26% 20% 13% 22% 24% 19% 10% 22% 21% 22% 17% 18% 18% 19% 7% 16% 18% 14% 18% 22% 21% 23% 21% 18% 14% 14% 14% 18% 14% 12% 9% 15% 13% 38 Allstate 20% 15% 10% 5% 0% Allstate Geico Progressive State Farm
    39. 39. Deal White Noise Free Range Bundle Observation “And 15 minutes could save you 15% or more “esurance was born online to save people money on car on car insurance.” “I just switched my car insurance.” “With Allstate Accident Forgiveness, your rate won't go up just for having an accident.” “Mark just signed up with Drive Safe & insurance Save. Get discounts up to 50%.” to State Farm & saved about $480 bucks.” “Nationwide members that have Vanishing Deductible “The longer you stay with Progressive, the more you get $100 off for every year of safe driving.” save.” “Get 2 Safe Driving bonus checks a year for driving safely.” “At AAA we're always with you, you could save up to $379/year. Hundreds better than Geico, Farmers, even State Farm.” “5% instant discount for signing up.” “3 million people switched to me last year saving an average of $475.” “Well I saved hundreds on my car insurance with Geico.” “She thought Allstate car insurance was out of her reach before she heard about the Value Plan.” “Switch to the Allstate Value Plan and see how affordable better protection can be.” “The better you drive, the bigger your savings, up to 30%.” “I got this Snapshot thing from Progressive, plugged it “How much does my discount “You could save 100s on car into my car & got a discount for being the good driver double check save me? About $150.” I've always been.” insurance by switching to Geico.” “Early Signing Discount, sign up before your 39 current policy expires & save an extra 10%.” Source: Competitrack “Only Esurance automatically gives you comparison prices before you renew. The Price Check Promise.”
    40. 40. Deal Bundle Free Range Bundle Implication We Say Implication: While there is an overwhelming amount of “deal” messaging saturating the category, the majority of deals center on a single policy. Solution: • Deal Bundle: An approach for this target would be a bundle and save program. While this exists for many brands, it is rarely at the forefront of their campaign. • Deal Believability: Layered messaging would be used to increase the believability. The layers would be: • We Say: The brand bundled deal. • They Say: Third-party endorsement of the deal. • You Say: Social sound bites based customers savings. 40 By bundling with us you will save … They Say Based on a third-party analysis our brand … You Say I bundled all my policies and saved …
    41. 41. Deal Bundle Free Range Bundle Channel Strategy Channel Strategy: The channel strategy would be to layer the We Say, They Say, You Say throughout the marketing to engage and convert this target. The following list of potential media: Channel Type Interrupt Intercept Possible Channels Broadcast: Television, Radio, Out of Home Online Ads: network buys, behavioral targeting Online Search: Search Engine Marketing (SEM) and Search Engine Optimization (SEO) Advise Online Ads: Target third-party websites with “They Say” Online Shopping Brand/ Agent Website: Convert the deal bundling. Online Ads: Retargeting based on “You Say” Personal Shopping Call Center/Agents: Convert the deal bundling. CRM Email/Direct Mail: Increase share of policy with existing customers. 41
    42. 42. Implication: Wandering Wallets
    43. 43. Wandering Wallets Cover My Passion Free Range Bundle Implication Implication: Regardless of target, people are looking to see if they have a better deal. Brands have a choice to let customers wander or build their relationship based on the primary reason the shopper chose the brand. Solution: • My Best Deal: Deal seekers are fickle. Deal brands would want to continually offer cost savings based on an on-going relationship and/or transparently prove they are the best deal for their customer. • My Life Advisor: If a brand is about the relationship, the opportunity is to continually advise (when appropriate). These advisory conversations would be based on a continual, deepening understanding of the customer. 43 Cover My Passion 60% shopped but did not switch Free Range Bundle 61% shopped but did not switch
    44. 44. Deal Bundle Free Range Bundle Channel Strategy Channel Strategy: The channel strategy would be to layer the We Say, They Say, You Say throughout the marketing to engage and convert this target. The following list of potential media: Channel Type Possible Channels Online Shopping Brand/ Agent Website: Shift purchase process from transaction to relationship Personal Shopping Call Center/Agents: Shift purchase process from a transaction to relationship CRM Email/Direct Mail: Advisory communications tailored to the customer Agent: Advisory conversations with the customer 44
    45. 45. In Summary • Discussed Buyhavior™ and how behavioral marketing can lead to successful channel strategies. • Provided Buyhavior™ perspective within the Insurance category on core motivations and decisions shoppers make. • Walked through several motivational platforms to show how to convert insights into actions. 45
    46. 46. Thank You BUYHAVIOR I N SI G H T I N TO TH E M O TI VA TI O N A L SO U L

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