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.
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.
And, quite
frankly, that’s
a bit old hat.

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.
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.
And it took off in a big way.
It worked.

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.
“We could see where we
wanted to get to…
…but we needed help to
take the right path.”
Simon Lloyd, iprism

9.
So iprism called on us.

10.
We knew iprism could get
its existing broker customer
base to spend more money.

11.
But first, we needed to find out
3important
things...

12.
How iprism’s existing brokers behaved
(their buying behaviour, of course)

13.
Why they behaved this way.

14.
And which brokers would give the best
window of opportunity for revenue growth.

15.
It was a brave move, but iprism
had faith in our strategy.

16.
iprism wanted to know why some of
their brokers were not engaging…

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.
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.
These insights
the characteristics of iprism’s
top-selling brokers.
revealed

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.
So we tapped into our inner mad scientist and
created a predictive modelling behemoth...

22.
The
Broker
Algorithm

23.
“What the hell
is a broker
algorithm?”…
…I hear you cry.

24.
This...
…is the broker algorithm.
.
.

25.
And with this formula we worked out
which brokers had the most potential
to become the next top sellers.

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.
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.
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.
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.
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.
We created persona profiles for the brokers, to build
a picture of their business needs and challenges…

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.
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.
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.
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.
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.
Cyance
Bloxham Mill, Barford Road,
Bloxham, Oxfordshire OX15 4FF
+44 (0)1295 724120
results@cyance.com
www.cyance.com