Responding in Real-Time & Other Winning Strategies for Insurance Marketers


Published on

Published in: Business, Economy & Finance
  • Be the first to comment

  • Be the first to like this

No Downloads
Total views
On SlideShare
From Embeds
Number of Embeds
Embeds 0
No embeds

No notes for slide
  • Sir speedy QR code pieceOver 4% response rate (purls and QR combined)
  • [People’s Trust Insurance]Lacking brand awareness - and needed to compete with larger, well-established insurers – made consumers wary, the start-up homeowner’s insurance provider found itself the target of local blogs and other online chatter suggesting it fell into the “less-than-reputable” category. Its initial messaging, which advertised low prices compared to other insurers, heightened suspicions instead of dispelling them.Unlike the other larger insurers serving the area, which had positive name recognition and a strong independent agent network that marketed their products and services, this client needed to launch a ground-up campaign to capture positive consumer attention.
  • [Safeway Insurance]
  • Responding in Real-Time & Other Winning Strategies for Insurance Marketers

    1. 1.
    2. 2. Responding in Real-time & <br />Other Winning Strategies for <br />Insurance Marketers<br />Presenters:<br />Tim Hendricks, Vertis Communications<br />Jeff Rodis, Mutual of Omaha<br />2September 28, 2011<br />
    3. 3. Jeff RodisManager – Marketing Operations, Mutual of Omaha<br />Over 25 years of experience in insurance operations and consumer marketing<br />Experience includes two of the nation’s largest direct mail insurance marketers<br />Annual mailing volumes in the nine figure range<br />Leader in using advanced technology to improve cycle time, efficiency and workflow <br />Procurement and strategic sourcing background – sourced over $750mm in print and mail services<br />3September 28, 2011<br />
    4. 4. Tim HendricksSVP Regional Sales, Vertis Communications<br />Over 25 years of experience w/insurance and financial marketers<br />BS Business Administration from St. John’s University <br />MBA with a Marketing Concentration from Benedictine University<br />Adjunct Professor of Marketing at Benedictine University <br />Featured University Speaker on Direct Marketing<br />Published articles on the use of marketing workflow, digital technologies and multichannel marketing in: PIMA (Professional Insurance Marketing Association); Target Marketing Magazine (online); Insurance Advocate Magazine and Idea Alliance’s IPA Bulletin<br />4September 28, 2011<br />
    5. 5.
    6. 6. Winning Strategies<br />Improve Agent Response to New Leads<br />Go Green to Save Green<br />Drive Consumers Online with pURLs and QR Codes<br />Create Brand Awareness in Multiple Channels<br />Connect Across Language and Cultural Barriers<br />6September 28, 2011<br />
    7. 7. Improve Agent Response to New Leads<br />THE CHALLENGE: <br />How can a national insurer reduce the amount of time between when an agent receives a lead to the prospect’s actual receipt of thedesired information?<br />THE SOLUTION: <br />Help agents respond in real time through digital <br />workflow and fulfillment tools that increase response and customer engagement.<br />7September 28, 2011<br />
    8. 8. Case Study:Improve Agents’ Response to New Leads<br />Heavily regulated industry requires highly versioned customer communications<br />Real-time response to consumer requests is critical to converting leads into policies <br />Agents faced with cumbersome and challenging fulfillment process of manual forms, faxes, emails and phone calls<br />Agents are competing with consumer’s accelerated access to technology and time for conversion <br />8September 28, 2011<br />
    9. 9. Solution:Improve Agents’ Response to New Leads<br />Proprietary targeted marketing asset database with digital workflow allowing agents to respond to requests immediately<br />Flexible and creative marketing workflow for ordering, customizing materials the agents create and deploy on their own <br />9September 28, 2011<br />
    10. 10. How does a workflow <br />solution work?<br />10September 28, 2011<br />
    11. 11. Insurance Company Data Warehouse<br /> Data Driven, Automated Marketing Solution<br />React to consumer interactions with relevant and timely communications – then output to the channel of consumer preference from a common platform<br />Lead Source<br /><ul><li>CRM
    12. 12. Web
    13. 13. Telephone
    14. 14. Transactional
    15. 15. Trigger</li></ul>Channel Delivery<br />Multi-channel Communication Platform<br />C<br />ONTENTM<br />G<br />MT<br />BIZRULES<br />Direct Mail<br />Segmented<br />Consumer Info<br />Inserts<br />Text Messaging<br />Insurance CompanyContent Management<br />e-mail marketing<br />Incentives<br />Digital Images <br />Insurance Company Creative<br />Microsite/<br />PURL<br />Standard <br />Templates<br />Variable Text<br />Rich media, etc<br />Closed-loop measurement<br />11September 28, 2011<br />
    16. 16. 12September 28, 2011<br />
    17. 17. 13September 28, 2011<br />
    18. 18. 14September 28, 2011<br />
    19. 19. 15September 28, 2011<br />
    20. 20. 16September 28, 2011<br />
    21. 21. 17September 28, 2011<br />
    22. 22. 18September 28, 2011<br />
    23. 23. 19September 28, 2011<br />
    24. 24. 20September 28, 2011<br />
    25. 25. Results:Improve Agents’ Response to New Leads<br />Reduced cycle time from weeks to 3 days<br />Dynamic kitting capabilities along with multi-component matching<br />Changes that typically required weeks to implement are now executed in days<br />Web-based solution offers visibility of entire process<br />Limitless personalization and targeted message capabilities<br />Elimination of pre-printed materials, digital library and print-on-demand <br />Robust content management system supports image, text content and versioning<br />21September 28, 2011<br />
    26. 26. Go Green to Save Green<br />THE CHALLENGE: <br />How can a leading health care insurer improve their carbon footprint and reduce costs, eliminate obsolescence and deliver relevant communications to their customers?<br />THE SOLUTION: <br />Creative redesign, digital workflow and the <br />right delivery strategy<br />22September 28, 2011<br />
    27. 27. Why do companies adopt “go green” initiatives?<br />73%believe it is <br />important to buy <br />from green <br />companies<br />Meeting corporate citizenship goals?<br />Appealing to consumer social values?<br />Reduce production and deployment costs?<br />All of the above!<br />55%are willing to<br />pay more for<br />green products<br />Source: Cohn & Wolfe, Esty Environmental Partners, Landor Associates, Penn Schoen Berland, "2010 ImagePower Global Green Brands Survey," June 2010 (U.S. Adults)<br />
    28. 28. Case Study:Go Green to Save Green<br />A leading U.S. health insurance provider wanted to identify “green” solutions that would substantially reduce production and deployment costs across its customer marketing initiatives<br />24September 28, 2011<br />
    29. 29. Case Study:Go Green to Save Green<br />Audited existing marketing practices and program elements<br />What are they doing? How and why?<br />Uncovered process and output duplication<br />25September 28, 2011<br />
    30. 30. Case Study:Go Green to Save Green<br />Re-engineer workflow<br />Redesign creative templates<br />Enable one-to-one marketing<br />26September 28, 2011<br />
    31. 31. Benefits to who:Go Green to Save Green<br />Re-engineering marketing workflow and centralizing assets helped achieve the health insurance provider’s “go green” goals with significant results:<br />27%less paper consumption<br />18% inventory reduction<br />15% lower electricity usage<br />27September 28, 2011<br />
    32. 32. Results:Go Green to Save Green<br />Least possible ecological footprint <br />Branding standardization<br />Highly personalized and customized documentation: true 1:1<br />Lower cost per page<br />Just-in-time document delivery<br />Inventory reduction and elimination of obsolescence waste<br />Costs to comply with regulatory requirements are minimized<br />Reduced cycle time and streamlined workflows<br />Elimination of print platesand films<br />No ink use, so no ink waste<br />Process water is eliminated<br />Paper usage and paper waste is greatly reduced<br />Air pollution control devices are eliminated<br />Flammable chemicals are eliminated, no VOC emissions<br />28September 28, 2011<br />
    33. 33. Personalized URLs and QR Codes<br />THE CHALLENGE: <br />How do you make it easy for consumers to respond to your offer and interact with thebrand, while tracking and improving campaign responses?<br />THE SOLUTION: <br />Provide consumers with easy access through personalized URLs or QR Codes<br />29September 28, 2011<br />
    34. 34. Case Study:Personalized URLs and QR Codes<br />A health care benefits company felt a print-only marketing campaign had grown stagnant and was no longer attaining their acquisition goals<br />30September 28, 2011<br />
    35. 35. Program Goals:Personalized URLs and QR Codes<br />Open new communications channels with current and prospective customers<br />Increase response rates over traditional direct mail-only marketing efforts<br />Increase sales by engaging in more relevant conversations with customers and prospects<br />31September 28, 2011<br />
    36. 36. Solution:Personalized URLs and QR Codes<br />Increase sales through better consumer engagement using a multichannel approach:<br />Direct mail incorporating personalized URLs (pURLS)<br />Personalized website landing pages to provide a customized online consumer experience<br /><br />32September 28, 2011<br />
    37. 37. How does it work? Personalized URLs and QR Codes<br />Consumers receive direct mail, email or other personal communication with a unique identification code<br />Call-to-action directs consumers to their own personal website:<br />Consumers enter identification code, then complete user profiles<br />Marketer uses the newly gained consumer insights to tailor future messages to customer likes and preferences<br />33September 28, 2011<br />
    38. 38. Personalized URLs<br />Example ofa pURLon a mail piece<br />34September 28, 2011<br />
    39. 39. Customer is greeted by personalized landing page<br />Personalized URLs<br />
    40. 40. Personalized URLs<br />Page 2 of landing page requesting additional information<br />36September 28, 2011<br />
    41. 41. Personalized QR Codes<br />QR Code<br />37September 28, 2011<br />
    42. 42. Personalized QR Codes<br />38September 28, 2011<br />
    43. 43. Personalized QR Codes<br />Landing page requesting additional information<br />39September 28, 2011<br />
    44. 44. Benefits to the consumer:Personalized URLs and QR Codes<br />A uniquely tailored online experience<br />In exchange for information, consumers receive future content tailored to their needs<br />Product and service offers become highly relevant<br />40September 28, 2011<br />
    45. 45. Personalized URL Workflow Overview<br />2. Gather Data<br />1. Welcome Screen<br />4. Email confirmation to consumer – Begin Relationship<br />2. Involvement <br />3. Thank You - we will be sending you info<br />5. Viral Component – Refer-a-Friend<br />41September 28, 2011<br />
    46. 46. Benefits to the consumer:Personalized URLs and QR Codes<br />Analyze and model the newly captured data; provides valuable insights into consumers’ needs, interests and preferences <br />Use these insights to add value to the consumer by engaging them through meaningful online experiences and follow-up communications<br />122% ROIon every dollar<br />42September 28, 2011<br />
    47. 47. Results:Personalized URLs and QR Codes<br />According to the DMA, 42% of all direct mail respondents prefer to respond online (DMA 11/2009)<br />Based on statistics, businesses enjoy a 122% ROI on every dollar invested in a pURLprogram; behavior data shows that customers respond to pURL communications across generations<br />*41% of consumers polled prefer to respond to an insurance direct mail offer at the sender’s website<br />In a 27 vertical market print-to-pURL test, the pURL drew a 5.1% visit rate and a 3.28% response rate. The insurance industry saw the highest number of pURL visitors/responses<br />43September 28, 2011<br />
    48. 48. 44September 28, 2011<br />
    49. 49. Multichannel Brand-Building<br />THE CHALLENGE: <br />How do you attract the right customers in a <br />crowded, wary regional market<br /> Channel surf! Mass outreach builds awareness, <br />and targeted marketing brings your desired <br />consumers to your door<br />THE SOLUTION: <br />45September 28, 2011<br />
    50. 50. Case Study:Multichannel Brand-Building<br />A new-to-the-regional-market homeowners insurance company faced considerable odds launching into an established market<br />46September 28, 2011<br />
    51. 51. Solution:<br />Multichannel Brand-Building<br />Conduct in-depth focus groups with consumers<br />Overhaul the brand platform <br />Create an emotional connection with “live here, work here” ethic<br />Promote the insurer’s “A” financial stability rating<br />Showcase their team of responders<br />Initiate multichannel marketing to increase the need and brand awareness<br />47September 28, 2011<br />
    52. 52. Benefits:<br />Multichannel Brand-Building<br />Consumer: convenience/education and control<br />Marketer:<br />Better consumer connectivity<br />Average campaign improvement of 35%<br />Add more personalization = an average improvement of close to 50%<br />48September 28, 2011<br />
    53. 53. Results: <br />Multichannel Brand-Building<br />Targeted newspaper inserts and ROP had call center phones ringing off the hook <br />Unique 800 #s enabled tracking of lead source<br />Heightened attention resulted in a15% increase in responses to targeted direct mail<br />Volume of qualified leads was so dramatic, the insurer reached state-mandated limit and didn’t seek new policyholders for 6 months<br />49September 28, 2011<br />
    54. 54. Hispanic Marketing<br />THE CHALLENGE: <br />How do you connect across language and cultural barriers with the fastest-growing consumer segment?<br />THE SOLUTION: <br />A multilingual campaign that addresses key <br />cultural needs and values, in a format proven to <br />attract the target group<br />50September 28, 2011<br />
    55. 55. Hispanic Marketing:<br />By 2014, one person out of every six living in the U.S. will be of Hispanic origin*<br />Now the Nations 2nd largest consumer market<br />Hispanic disposable income is expected to grow to $1.3 trillion in 2014*<br />Most favor culturally relevant communication <br />* Source: The Hispanic American Market, 7/8/10<br />51September 28, 2011<br />
    56. 56. Case Study:<br />Hispanic Marketing<br /><ul><li>One of the largest U.S. auto insurers had a goal of becoming the premier direct-to-consumer auto insurance company in the nation for first-generation Hispanics</li></ul>52September 28, 2011<br />
    57. 57. Solution:<br />Hispanic Marketing<br /><ul><li>Take a Specialized Marketing Approach, leveraging proprietary research providing insights into the buying behaviors and media usage habits of multigenerational U.S. Hispanics</li></ul>53September 28, 2011<br />
    58. 58. Benefits:<br />Hispanic Marketing<br /><ul><li>Hispanic Consumer
    59. 59. Built trust and loyalty – re-branding gave them the comfort they needed
    60. 60. Provide them with relevant information on their terms
    61. 61. Marketer
    62. 62. Improved relationship with Hispanic consumer and market
    63. 63. Became a trusted provider
    64. 64. Improved Brand position</li></ul>54September 28, 2011<br />
    65. 65. Campaigns Leveraged with Cultural Insights<br />Launched bilingual efforts for greater relevance and brand authenticity<br />Featured family-based imagery to build emotional connection<br />Used direct mail as backbone of marketing mix<br />Tested incentive-based direct mail referral programs<br />55September 28, 2011<br />
    66. 66. Campaigns Leveraged with Cultural Insights<br />Developed sponsorship featuring soccer superstar Cuauhtémoc Blanco to deepen credibility and roots within the community <br />56September 28, 2011<br />
    67. 67. Results: <br />Hispanic Marketing<br />Direct mail delivered lower cost-per-lead than previous benchmarks<br />Incentive-based referral programs outperformed all other lead types by over 100%<br />Incremental revenue convinced Insurer to devote significant budget to Hispanic marketing<br />57September 28, 2011<br />
    68. 68. “To get a result youdon’t get now…<br />you have to do somethingyou don’t already do.”<br /> Albert Einstein<br />58September 28, 2011<br />
    69. 69. Insurance marketers are faced with unique challenges<br />Understanding how the consumer wants to be marketed to is key<br />Responding to customers and prospects with relevant and timely communications increases response rates<br />Leverage the multi-channel strategies that have proven to be successful by your peers<br />Key Take Aways<br />59September 28, 2011<br />
    70. 70. Questions?<br />Tim Hendricks<br />SVP Regional Sales<br />Vertis Communications<br />630-571-7575 X 2026<br /><br />Jeffrey Rodis<br />Manager-Marketing Operations<br />Direct to Consumer Marketing<br />Mutual of Omaha<br />402-351-4186<br /><br />60September 28, 2011<br />
    71. 71. 61September 28, 2011<br />® Sep-11 Vertis, Inc. All rights reserved.<br />