Successfully reported this slideshow.
We use your LinkedIn profile and activity data to personalize ads and to show you more relevant ads. You can change your ad preferences anytime.
HOW TO
INCREASE
YOUR MARKETING ENGAGEMENT
BY
250%
B A S E D O N R E A L E V E N T S F R O M T H E C Y A N C E L A B
Business insurance.
(Bear with me.)
It’s not exactly known for innovation.
Even today, it’s generally sold over the
phone ...
And, quite
frankly, that’s
a bit old hat.
So in 2006 an underwriting agency called
iprism made the enlightened decision…
…to drag business insurance kicking and scr...
The idea was simple.
“We’ll build a powerful online trading
platform and give our brokers 24/7 access
to their insurance p...
And it took off in a big way.
It worked.
So much so, iprism realised it needed a
marketing strategy to build on its first-mover
advantage and keep the competition ...
“We could see where we
wanted to get to…
…but we needed help to
take the right path.”
Simon Lloyd, iprism
So iprism called on us.
We knew iprism could get
its existing broker customer
base to spend more money.
But first, we needed to find out
3important
things...
How iprism’s existing brokers behaved
(their buying behaviour, of course)
Why they behaved this way.
And which brokers would give the best
window of opportunity for revenue growth.
It was a brave move, but iprism
had faith in our strategy.
iprism wanted to know why some of
their brokers were not engaging…
So, we set to work...
Contacting 1,321of iprism’s existing brokers
Launching 1,096customer surveys
Analysing and visualisi...
A snippet of what we found:
of brokers were independent
53%
%
%
of the brokers were less than
20 years old60
of brokers se...
These insights
the characteristics of iprism’s
top-selling brokers.
revealed
But we needed to dig
deeper and uncover
the ‘rising stars’…
…the brokers that were most likely
to become the next top sell...
So we tapped into our inner mad scientist and
created a predictive modelling behemoth...
The
Broker
Algorithm
“What the hell
is a broker
algorithm?”…
…I hear you cry.
This...
…is the broker algorithm.
.
.
And with this formula we worked out
which brokers had the most potential
to become the next top sellers.
“We knew that our brokers had different needs.
Cyance found the ones with the most potential
for revenue growth and helped...
Now we needed to help iprism become
a trusted advisor to its rising stars…
…to build a stronger bond and encourage
them to...
We wanted to find the best channel to engage
with the brokers. So we asked iprism:
“Are your brokers
iprism didn’t think t...
Our ground-breaking social insight process
proved they were.
In fact, more than
of iprism’s customer base were active on L...
What’s more, we found out:
Which online communities the brokers frequented
What their skills and interests were
Which conv...
We created persona profiles for the brokers, to build
a picture of their business needs and challenges…
…and we designed and produced a selection of
digital assets (including a campaign microsite)…
…which we distributed to bro...
Web content:
webinars,
workshops,
surveys, videos
and e-books
Landing
pages
Emails,
newsletters,
blog posts,
adverts, CTAs...
But we didn’t stop there!
NEXT
830
LOWER OPPORTUNITY BROKERS
NEXT
300
OFFERING
BEST OPPORTUNITY
FOR GROWTH
TOP
150
BROKERS...
And that bold promise we made at the beginning..?
HOW TO
INCREASE
YOUR MARKETING ENGAGEMENT
BY
250%
B A S E D O N R E A L ...
The results:
250%
increase in
broker
marketing
engagement
40%
increase
in overall
broker
spend
All
previous
sales
records
...
Cyance
Bloxham Mill, Barford Road,
Bloxham, Oxfordshire OX15 4FF
+44 (0)1295 724120
results@cyance.com
www.cyance.com
Upcoming SlideShare
Loading in …5
×

How to increase customer engagement by 250%

812 views

Published on

Find out how Cyance helped an Insurance wholesaler, iprism to increase customer engagement by 250% and sales revenues by over 42%.

Published in: Marketing
  • Fuzion predictive behaviour technology from Cyance was used to identify iprism's best customers and helped to prioritise marketing effort and investment where they were most likely to succeed. By capturing customer behaviour data from every touch point in the buyer journey, Fuzion predicts future buying patterns – helping to deliver smarter marketing.
       Reply 
    Are you sure you want to  Yes  No
    Your message goes here

How to increase customer engagement by 250%

  1. 1. HOW TO INCREASE YOUR MARKETING ENGAGEMENT BY 250% B A S E D O N R E A L E V E N T S F R O M T H E C Y A N C E L A B
  2. 2. Business insurance. (Bear with me.) It’s not exactly known for innovation. Even today, it’s generally sold over the phone or via clunky extranet systems.
  3. 3. And, quite frankly, that’s a bit old hat.
  4. 4. So in 2006 an underwriting agency called iprism made the enlightened decision… …to drag business insurance kicking and screaming out of the darkness and into the 21st century.
  5. 5. The idea was simple. “We’ll build a powerful online trading platform and give our brokers 24/7 access to their insurance portfolios,” they said.
  6. 6. And it took off in a big way. It worked.
  7. 7. So much so, iprism realised it needed a marketing strategy to build on its first-mover advantage and keep the competition at bay.
  8. 8. “We could see where we wanted to get to… …but we needed help to take the right path.” Simon Lloyd, iprism
  9. 9. So iprism called on us.
  10. 10. We knew iprism could get its existing broker customer base to spend more money.
  11. 11. But first, we needed to find out 3important things...
  12. 12. How iprism’s existing brokers behaved (their buying behaviour, of course)
  13. 13. Why they behaved this way.
  14. 14. And which brokers would give the best window of opportunity for revenue growth.
  15. 15. It was a brave move, but iprism had faith in our strategy.
  16. 16. iprism wanted to know why some of their brokers were not engaging…
  17. 17. So, we set to work... Contacting 1,321of iprism’s existing brokers Launching 1,096customer surveys Analysing and visualising the purchasing behaviour of 2,311iprism broker contacts ...to build a never-before-seen picture of iprism’s customer base.
  18. 18. A snippet of what we found: of brokers were independent 53% % % of the brokers were less than 20 years old60 of brokers secured new business through recommendations70
  19. 19. These insights the characteristics of iprism’s top-selling brokers. revealed
  20. 20. But we needed to dig deeper and uncover the ‘rising stars’… …the brokers that were most likely to become the next top sellers.
  21. 21. So we tapped into our inner mad scientist and created a predictive modelling behemoth...
  22. 22. The Broker Algorithm
  23. 23. “What the hell is a broker algorithm?”… …I hear you cry.
  24. 24. This... …is the broker algorithm. . .
  25. 25. And with this formula we worked out which brokers had the most potential to become the next top sellers.
  26. 26. “We knew that our brokers had different needs. Cyance found the ones with the most potential for revenue growth and helped us personalise our marketing to their needs.” Nate Filer, iprism
  27. 27. Now we needed to help iprism become a trusted advisor to its rising stars… …to build a stronger bond and encourage them to spend more with iprism.
  28. 28. We wanted to find the best channel to engage with the brokers. So we asked iprism: “Are your brokers iprism didn’t think they would be active on social media. SOCIAL?”
  29. 29. Our ground-breaking social insight process proved they were. In fact, more than of iprism’s customer base were active on LinkedIn. 60% 7% 22 Companies 61% 185 Companies 8% 25 Companies 3% 11Companies
  30. 30. What’s more, we found out: Which online communities the brokers frequented What their skills and interests were Which conversation topics mattered most to them Insurance Age (41) BIBA (37) Post Magazine (16) Home & Legacy (14) Commercial Insurance Industry Keychoice Group (11) The Black Country Global Insurance Jobs in Insurance The Insurance Insurance Institute Insurance Institute Insurance Insurance The UK Insurance Broking CII Insurance Insurance youTalk High Net Worth Rentguard (10) LLoyd’s of London (10) BNI Group Business Insurance Times Broker Expo Members of the Chartered Insurance RSA Broker UK (15) Insurance People Magazine (14) Thistle Underwriting and London Market Risks (24) Insurance Professionals (23) PowerPlace Broker Community (19) The Chartered Insurance Institute (56) UK Insurance Companies, Brokers, Agents, Clients (56)
  31. 31. We created persona profiles for the brokers, to build a picture of their business needs and challenges…
  32. 32. …and we designed and produced a selection of digital assets (including a campaign microsite)… …which we distributed to brokers via a multi-channel engagement programme.
  33. 33. Web content: webinars, workshops, surveys, videos and e-books Landing pages Emails, newsletters, blog posts, adverts, CTAs, social discussions With our engagement strategy in place, we could hone in on sales opportunities for iprism… …and start to nurture leads through the buying journey.
  34. 34. But we didn’t stop there! NEXT 830 LOWER OPPORTUNITY BROKERS NEXT 300 OFFERING BEST OPPORTUNITY FOR GROWTH TOP 150 BROKERS We created an ongoing engagement strategy, with tiered incentives to reward top-selling brokers.
  35. 35. And that bold promise we made at the beginning..? HOW TO INCREASE YOUR MARKETING ENGAGEMENT BY 250% B A S E D O N R E A L E V E N T S F R O M T H E C Y A N C E L A B
  36. 36. The results: 250% increase in broker marketing engagement 40% increase in overall broker spend All previous sales records broken iprism ranked number 6 in Insurance Times’ E-Trade Broker Insight Report 2015 6H250% INCREASE 40% INCREASE[
  37. 37. Cyance Bloxham Mill, Barford Road, Bloxham, Oxfordshire OX15 4FF +44 (0)1295 724120 results@cyance.com www.cyance.com

×