0
eDynamic, Friday, May 2, 2014
0
Engagement
marketingfor
agent/distribution
channels
1
eDynamic, Friday, May 2, 2014
Agenda
1. KeytrendsinInsurancechannels
2. Areasofopportunity
3. Whatisengagement marketing...
2
eDynamic, Friday, May 2, 2014
2
KeytrendsinInsurance
distributionchannels
3
eDynamic, Friday, May 2, 2014
Yourcustomerswanttousechannels
Source: Bain Consumer Survey 2012
Customers want to
be able...
4
eDynamic, Friday, May 2, 2014
Customersvalueconsistentexperience
5
eDynamic, Friday, May 2, 2014
Revenuebydistributionchannels
6
eDynamic, Friday, May 2, 2014
Revenuebydistributionchannels
7
eDynamic, Friday, May 2, 2014
Producers’interestinspecificdigitalfeatures
Source: LIMRA research
8
eDynamic, Friday, May 2, 2014
Producers’interestinspecificdigitalfeatures
9
eDynamic, Friday, May 2, 2014
9
Areasof
Opportunity
10
eDynamic, Friday, May 2, 2014
Insurancestakeholder requirements
Eachstakeholderintheinsurancecycleneedsaspecificmedium
...
11
eDynamic, Friday, May 2, 2014
Reachingtheendcustomer:Channels
Thesalesanddistributionlandscapeininsuranceincludesintern...
12
eDynamic, Friday, May 2, 2014
12
Whatis
Engagement
Marketingfor
channels?
13
eDynamic, Friday, May 2, 2014
ChallengesinChannelEngagement
 Lackofengagement:Lackofadequatequalityengagementtouch-poi...
14
eDynamic, Friday, May 2, 2014
Acrossthelifecycle,anengagementmarketingstrategycanimprove
retentionandproducereffectiven...
15
eDynamic, Friday, May 2, 2014
Engagementmarketing: Keycomponents
Engagementstraddlesmultipletouchpoints
 ThoughtLeader...
16
eDynamic, Friday, May 2, 2014
ChannelEngagement andEmpowerment
 Improverecruitment:Improveacquisitionandrecruitmentpro...
17
eDynamic, Friday, May 2, 2014
17
Howdoes
Engagement
Marketingempower
channels?
18
eDynamic, Friday, May 2, 2014
ExternalChannels:TheLifecycle
Theproducerlifecycleneedstobeenabledatkeystages
Producerlif...
19
eDynamic, Friday, May 2, 2014
Empoweringchannels: MarketingAutomation
Marketingautomationplatformisyourdeliverytool
 T...
20
eDynamic, Friday, May 2, 2014
20
Expectedoutcomes
21
eDynamic, Friday, May 2, 2014
Expectedoutcomes: EngagementMarketing
Thevalueofengagementmarketing
 Recruitment/Educati...
22
eDynamic, Friday, May 2, 2014
Connectwithus
1-877-339-6264
www.edynamic.net
contact@edynamic.net
twitter.com/edynamic
y...
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Engagement Marketing for Agent Distribution Channels

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Learn how digital strategy and technology can help insurers drive revenue across channels.

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Engagement Marketing for Agent Distribution Channels

  1. 1. 0 eDynamic, Friday, May 2, 2014 0 Engagement marketingfor agent/distribution channels
  2. 2. 1 eDynamic, Friday, May 2, 2014 Agenda 1. KeytrendsinInsurancechannels 2. Areasofopportunity 3. Whatisengagement marketingforchannels? 4. Howdoesengagementmarketingempower channels? 5. Expectedoutcomesforinsurers
  3. 3. 2 eDynamic, Friday, May 2, 2014 2 KeytrendsinInsurance distributionchannels
  4. 4. 3 eDynamic, Friday, May 2, 2014 Yourcustomerswanttousechannels Source: Bain Consumer Survey 2012 Customers want to be able to use the channel convenient to the moment, whether that’s a website, call center or a video chat with a broker
  5. 5. 4 eDynamic, Friday, May 2, 2014 Customersvalueconsistentexperience
  6. 6. 5 eDynamic, Friday, May 2, 2014 Revenuebydistributionchannels
  7. 7. 6 eDynamic, Friday, May 2, 2014 Revenuebydistributionchannels
  8. 8. 7 eDynamic, Friday, May 2, 2014 Producers’interestinspecificdigitalfeatures Source: LIMRA research
  9. 9. 8 eDynamic, Friday, May 2, 2014 Producers’interestinspecificdigitalfeatures
  10. 10. 9 eDynamic, Friday, May 2, 2014 9 Areasof Opportunity
  11. 11. 10 eDynamic, Friday, May 2, 2014 Insurancestakeholder requirements Eachstakeholderintheinsurancecycleneedsaspecificmedium Customer Agent/ Broker Bank REQUIREMENTVALUEPROPS  Awareness  Enablement/ Empowerment  Assistance  Reviews  Education  Transaction/ eApplications  Enablement  Presentations  Enablement  Education/Training  Cross-Selling  Calculations  Reporting o SEO o Demand Generation o Customer Portal o Quote o Bind o Claims o Social Strategy o Responsive Design Agent and Broker Portals o Training/tools o Product Quotes o Sales and Marketing Tools o Commissions o Client information o Online applications o Mobile/ Tablet Responsive o Customer on-boarding/servicing Bank Portal o Training/tools o Online applications o Sales and Marketing Tools o Reporting o Mobile applications o Customer on- boarding/servicing
  12. 12. 11 eDynamic, Friday, May 2, 2014 Reachingtheendcustomer:Channels Thesalesanddistributionlandscapeininsuranceincludesinternalsalesteamsand externalchannelsandeachofthesehasmultipleengagementtouchpoints Telesales Internal Account Executives Email, phone Email, mobile, phone, appointments Email, mobile, phone, appointments Field Sales/Sales Agents Agents/Advis ors External Banks Web, mobile, social, Email, phone, appointments Web, mobile, social, Email, phone, appointments Web, mobile, social, Email, phone, appointments Brokers Marketing, Sales and Distribution (B2C and B2B) End customer (B2C and B2B) Search Attract Acquire Service Retain Up/cross sell Loyalty/ Referral Marketing Search, email, events, webinars, ATL/BTL
  13. 13. 12 eDynamic, Friday, May 2, 2014 12 Whatis Engagement Marketingfor channels?
  14. 14. 13 eDynamic, Friday, May 2, 2014 ChallengesinChannelEngagement  Lackofengagement:Lackofadequatequalityengagementtouch-points betweencarrierswiththeirbestcustomers,prospects,andproducers  Lackofalignment:LackofalignmentbetweenMarketingandSalesteams onfollow-upwithprospectsandtrackingofresultsforvarioussalesevents  Lackofcrosssell:ProductManagersareunabletocrossselltoexisting customersduetolackofvisibilityintocustomerdata andlackofcrosssell campaigns  UnderservedAccounts:35%ofproducersfeelthetheirrelationship managersdonotcontactthemenough Severalchallengesareimpedingcarriers’marketingandchannel initiatives Source: LIMRA
  15. 15. 14 eDynamic, Friday, May 2, 2014 Acrossthelifecycle,anengagementmarketingstrategycanimprove retentionandproducereffectiveness •Transaction alerts and updates •Policy reminders •CRM email automation •Allowing producers to run campaigns based on templates •Newsletters •Automated education campaigns •Surveys •Webinars •Integration with offline events •Acquisition campaigns •Trigger based multi-touch On- boarding process •Orientation email campaign •Analytics Recruiting Educating EmpoweringEnabling •Demand gen/acquisition •Product updates •Reminders/Alerts •Surveys, polls, events, webinars •Tools and calculators •Integration with website/CMS, CRM, customer portal •Preference management Channel Engagement andEmpowerment
  16. 16. 15 eDynamic, Friday, May 2, 2014 Engagementmarketing: Keycomponents Engagementstraddlesmultipletouchpoints  ThoughtLeadership:Personalizedandtailoredmarketingcontenttargeted tocreatemindshare/recallwithendcustomersatdifferentlifestagesand withdifferentneeds.  Recruitment: Effectiverecruitmentprogramscanhelpbuildahealthy channel.  Education: Trainingandeducationwillhelpcreatestrongselling fundamentals.  Enablement: Productcollateral,thoughtleadershipcontent,salestactics, sellingtoolsandothercontentassetsarekey.  Empowerment: Helpingyourchannelengageeffectivelywiththeend customerthroughtheentirebuyinglifecyclewilldrivesales. Engagementmarketinghassomekeycomponents—directtoend customer,insurertochannelandchanneltoendcustomer
  17. 17. 16 eDynamic, Friday, May 2, 2014 ChannelEngagement andEmpowerment  Improverecruitment:Improveacquisitionandrecruitmentprocess  Improveengagement:Multipleon-goingmanualandautomatedtouch-pointsensure thattheproducerisengaged  Personalizecommunication:Throughpreferencemanagementandsegmented marketing,communicationcanbemademorerelevant  Improveproduction:Knowwhichofyouragentsaresellingyourproduct–nurtureyour bestagentswithspecificbestpracticecampaignsandimproveproductionofothers throughproductionimprovementcampaigns  Improveefficiencies:Automationcanprovideupto10Xefficiencies.Further,campaigns canberolled-outfaster  Service: Serviceproducersbysendingautomatedalerts,CRMnotificationandreminders  Comply: Drivecompliancethroughaudittrailsandreminders Channelscancontributemorerevenuethroughappropriateengagement
  18. 18. 17 eDynamic, Friday, May 2, 2014 17 Howdoes Engagement Marketingempower channels?
  19. 19. 18 eDynamic, Friday, May 2, 2014 ExternalChannels:TheLifecycle Theproducerlifecycleneedstobeenabledatkeystages Producerlifecycle Enablement Promotion anddelivery Email,Web Recruitment Promotion anddelivery Email,Web, physical Lead generation and qualification Email, phone,Web, Social Education
  20. 20. 19 eDynamic, Friday, May 2, 2014 Empoweringchannels: MarketingAutomation Marketingautomationplatformisyourdeliverytool  ThinkObjectives:Customeracquisition,agentrecruitmentordistribution channelrevenue–itisthebusinessobjectivethatdrivestheneedfor automation.  ThinkStrategy:Howwillyougetthebestchannelpartnersandhowwilltheybe abletoselleffectivelytoendcustomers?  ThinkPrograms:Everystrategyshouldleadtoaprogramwithalogical outcomethroughyourautomationplatform.  Don’tthinkonlyemails:Yourplatformdeliversemailsbutemailsaretiedto marketingandrevenueobjectives.  MarketingAutomation:Whenyouusethetooltomarkettoyourchanneland endcustomeracrosstheirlifecycles,youachievetrueautomation. Ourapproachtomarketingautomationisbasedonstrategicobjectives
  21. 21. 20 eDynamic, Friday, May 2, 2014 20 Expectedoutcomes
  22. 22. 21 eDynamic, Friday, May 2, 2014 Expectedoutcomes: EngagementMarketing Thevalueofengagementmarketing  Recruitment/Education:Automatededucationprogramsandtoolsforyour channelsalldeliveredthroughmappedemailprograms  Digitaltechnology:Gettingyourchanneluptospeedonthedigitaltechnologyand marketingautomationyouwantthemtouseforendcustomers  Commoninsight:Usingasinglemarketingautomationplatformwiredintoyour CRMcandelivercommoninvaluablecustomerinsightacrossyourchannelthereby drivingpersonalized,realtimemarketing/content/communication.  YouandyourchannelasONE:Yourplatformandyourchannel’smarketing platformscanfunctionasONEengine.  On-boarding/servicing/crosssell:Marketingautomationdoesnotjustacquirebut alsoservicesandcrosssellstocustomersacrossyourchannel. Ifstrategizedonandrolledoutsuccessfully,engagementmarketingfor channelscandirectlyimpactrevenue
  23. 23. 22 eDynamic, Friday, May 2, 2014 Connectwithus 1-877-339-6264 www.edynamic.net contact@edynamic.net twitter.com/edynamic youtube.com/1999dynamic facebook.com/edynamic.net

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