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.

Marketing Plan for Life Insurance by Growth Channel

76 views

Published on

This free marketing plan is prepared by Growth Channel for a life insurance company. Create your personalized marketing plan on https://growthchannel.io

Published in: Marketing
  • Be the first to comment

  • Be the first to like this

Marketing Plan for Life Insurance by Growth Channel

  1. 1. GROWTH MARKETING PLAN FREE SAMPLE: LIFE INSURANCE BY GROWTH CHANNEL
  2. 2. INSPIRING MARKETERS & STARTUPS WITH AI ENHANCED MARKETING INTELLIGENCE 2
  3. 3. METHODOLOGY THIS GROWTH MARKETING PLAN IS BUILT BASED ON THE FOLLOWING SUBMISSION ▸ Industry: Insurance ▸ Priority: Brand awareness ▸ Landing page: https://www.XYZ.com ▸ Monthly marketing budget: $10,000 - $50,000 ▸ Focus on awareness, consideration, advocate ▸ Primary marketing KPI: Engagement rate ▸ Secondary marketing KPIs: CTR, Leads ▸ Target country: United States of America ▸ Target type: End consumers 3 ▸ Demographic profile: ▸ Both genders, 22-65 ▸ Home owner ▸ Employed ▸ Interests: Sports, Live events, Movies, TV, Cooking, Arts, Home & Garden, Pets, Politics & Social issues, Travel, Vehicles, Shopping ▸ Main competitors: Ladder, Haven, PolicyGenius
  4. 4. CONTENTS: MARKET SITUATION & COMPETITIVE LANDSCAPE - 5 WEBSITE AUDIT - 16 PERSONAS - 20 CUSTOMER DECISION JOURNEY - 23 CAMPAIGN CONSIDERATIONS - 30 TIMELINE - 31 EMAIL SAMPLE WORKFLOW - 32 GROWTH EXPERIMENTS - 33 REPORTING DASHBOARD - 34 BUDGETING - 35 4
  5. 5. MARKET SITUATION & COMPETITIVE LANDSCAPE ASSESSING YOUR INDUSTRY AND SECTOR OF OPERATIONS ▸ Policy Genius has the highest website traffic share across the 4 companies (over 80%). They focus mostly on organic search. ▸ On the other hand, LadderLife has the best website engagement across the 4 companies (average session duration, page views per visit, bounce rate). They focus on direct, referrals and social traffic. ▸ XYZ has the least traffic compared to the 4 companies, but overall good session duration and bounce rate (2nd one after LadderLife). 5 XYZ
  6. 6. MARKET SITUATION & COMPETITIVE LANDSCAPE ASSESSING YOUR INDUSTRY AND SECTOR OF OPERATIONS 6 XYZ XYZ
  7. 7. MARKET SITUATION & COMPETITIVE LANDSCAPE COMPETITOR 1: POLICY GENIUS 7 Organic and paid search keywords dominated by non- branded terms, often education-related. Text ads focus on comparison.
  8. 8. MARKET SITUATION & COMPETITIVE LANDSCAPE COMPETITOR 1: POLICY GENIUS 8 Backlinks content focuses on persona life milestones, sponsoring content which provides educational content to personas, not related to insurance. Sweepstakes campaigns are also a part of backlinks.
  9. 9. MARKET SITUATION & COMPETITIVE LANDSCAPE COMPETITOR 1: POLICY GENIUS 9 Banner ads focus on simplicity. Colourful to attract user attention online, square format dominating.
  10. 10. MARKET SITUATION & COMPETITIVE LANDSCAPE COMPETITOR 1: POLICY GENIUS 10 Includes a calendly link for online appointment bookings.
  11. 11. MARKET SITUATION & COMPETITIVE LANDSCAPE COMPETITOR 2: HAVEN LIFE 11
  12. 12. MARKET SITUATION & COMPETITIVE LANDSCAPE COMPETITOR 2: HAVEN LIFE 12
  13. 13. MARKET SITUATION & COMPETITIVE LANDSCAPE COMPETITOR 3: LADDER LIFE 13
  14. 14. MARKET SITUATION & COMPETITIVE LANDSCAPE COMPETITOR 3: LADDER LIFE 14
  15. 15. MARKET SITUATION & COMPETITIVE LANDSCAPE COMPETITOR 3: LADDER LIFE 15
  16. 16. WEBSITE AUDIT XYZ 16
  17. 17. WEBSITE AUDIT XYZ 17
  18. 18. WEBSITE AUDIT XYZ 18 ▸ Your webpage is using inline CSS styles! ▸ Your site either doesn't have a favicon or this has not been referenced correctly. ▸ Your page uses more than 20 http requests, which can slow down page loading and negatively impact user experience. ▸ We've found 1 email addresses in your page code. We advise you to protect email links in a way that hides them from the spam harvesters. ▸ In order to pass this test you must make your email addresses invisible to email spiders. Note that the best option is to replace your entire contact mechanism with a contact form and using the POST method while submitting the form. ▸ Other solutions are listed below: ▸ * replace the at (@) and dot (.) characters ▸ * replace text with images ▸ * use email obfuscators ▸ * hide email addresses using JavaScript or CSS trick ▸ Your webpage doesn't take the advantages of HTML Microdata specifications in order to markup structured data. View Google's guide for getting started with microdata.
  19. 19. LET’S BUILD YOUR PERSONAS MIKE 19 Age: 25 years old Status: Single Location: Lives in San Francisco Occupation: Designer at Google Education: Bachelor Degree from UCLA Life events: Bought a studio last year on a mortgage Interests: Likes sports, watching movies, TV Preferences: ‣ Travels frequently ‣ Doesn’t own a car, uses Lyft & Uber ‣ Prefers mobile chat & social media for communication Life insurance: ‣ Is considering life insurance, evaluating different options ‣ Simple & cost effective solution is key
  20. 20. LET’S BUILD YOUR PERSONAS JANE 20 Age: 40 years old Status: Divorced Location: Lives in Austin Occupation: Real estate agent Education: College Life events: ‣ Owns an apartment on the outskirts of the city ‣ Has two dogs, 1 child Interests: Likes live music events, shopping Preferences: ‣ Drives a truck ‣ Plans to move to the countryside into a bigger house ‣ Prefers phone & email communication Life insurance: ‣ Currently on a plan with Policy Genius ‣ Not happy with underwriting process & customer support provided
  21. 21. LET’S BUILD YOUR PERSONAS KATE 21 Age: 59 years old Status: Married Location: Lives in Nashville Occupation: Director at Philips Education: Masters Degree Life events: ‣ Owns a house in the suburbs ‣ Has a cat ‣ Plans to retire soon Interests: Likes cooking, art, home & garden Preferences: ‣ Enjoys spending time with grandchildren ‣ Prefers phone & email communication Life insurance: ‣ Currently on a plan with LadderLife, not looking for an alternative ‣ Security, professionalism & communication are important elements
  22. 22. CUSTOMER DECISION JOURNEY MAPPING YOUR CUSTOMERS JOURNEY 22 ▸ Priority: Brand awareness ▸ Focus steps: Awareness, Consideration, Advocate Before a user heard of your brand A user learns more about your brand A user seeks information about your brand A user completed a purchase User retention User promotion, referrals and affiliation
  23. 23. CUSTOMER DECISION JOURNEY MIKE’S STRATEGY 23 Complexity: Easy Targeting 21-35 years old, single or new family, both genders, young family, new home owners, purchases online & via mobile, likes travel, sports, TV, movies, music, shopping, recent life events, re- marketing to website visitors (pricing, blog, calculator, FAQ, registration), friends of existing social media followers Remarketing to existing customers, positive NPS 8+, have been a customer for 6 months + Touchpoints Tech meet-ups, native advertising, Podcasts, friends referrals & word of mouth, TikTok & Instagram, Car show, sports game sponsorship, video ads, lifestyle publishers Location targeted mobile ads for related events & company employees, SEO, SEA, review sites, social media ads, website chat, Quora, Reddit, Email ads, FAQ Email marketing trigger based workflow, social media channels, customer events, website portal Content Educational materials about life insurance and related events (bank loans, house purchase, new family, etc), infographics, Giphy campaign Competitor keywords & domains (ads), coverage calculator, AMA sessions, customer (video) testimonials, video explainer Social media contests, referral leaderboard, loyalty program, promotional video, surveys Budget allocation 30-40% 50-60% 10% KPIs Engagement rate CTR, Conversion rate, Leads Leads
  24. 24. CUSTOMER DECISION JOURNEY MIKE’S STRATEGY 24 Complexity: Easy SEA keyword examples n/a globe life insurance, sunlife, life insurance companies, mortgage life insurance, best life insurance, best life insurance companies, state farm life insurance, variable life insurance, types of life insurance, jackson national life insurance, usaa life insurance… n/a Ad / sponsored platforms examples moneyunder30.com millennialmoney.com thesimpledollar.com valuepenguin.com YouTube ads, Snapchat ads, TikTok ads, Facebook ads quickquote.com, Gmail, Google Ads, Google Display Network, Facebook, Instagram, TikTok, Yahoo ads, Quora ads Facebook, Instagram, TikTok, YouTube Organic platforms examples Facebook, Instagram, TikTok, Quora, Reddit, Snapchat, Podcasts Website, Blog, Facebook Messenger, Get A Quote Facebook Tab Website, Email, Facebook, Instagram, TikTok Content titles, samples & templates Snapchat advertisements by Allianz: “5 Ways to Hide Car Keys from Your Friend Who Drank Too Much.", 
 IF INSURANCE GAME, CIGNA ADULTING QUIZ, Giphy campaign, How much life cover do I really need? No medical exam life insurance, Is life insurance worth it, Life insurance cost, What is a level term insurance policy, Who needs life insurance, Can a child get life insurance for a parent, EMAIL: Welcome to TheZebra.com, Smiles Davis. Your quotes are here! EMAILS: 18 States Live!, Thank you + quick question, Rate us on Facebook
  25. 25. CUSTOMER DECISION JOURNEY JANE’S STRATEGY 25 Complexity: Medium Targeting 36-55 years old, with family, both genders, looking at home purchases, likes travel, sports, TV, movies, pets, music, shopping, art, home & garden activities, recent life events, re-marketing to website visitors (pricing, blog, calculator, FAQ, registration), friends of existing social media followers Remarketing to existing customers, positive NPS 8+, have been a customer for 6 months + Touchpoints Professional conferences, native advertising, Podcasts, friends referrals & word of mouth, video ads, lifestyle publishers, billboards, flyers, music event sponsorship, press releases, TV Location targeted ads for company employees, SEO, SEA, review sites, social media ads, website chat, Email ads, FAQ, Email marketing trigger based workflow, social media channels, customer events, website portal Content Educational materials about life insurance and related events (bank loans, house purchase, new family, etc) Competitor keywords & domains (ads), coverage calculator, customer (video) testimonials Loyalty program, surveys, send holiday greetings, birthday cards Budget allocation 40-50% 40-50% 10% KPIs Engagement rate CTR, Conversion rate, Leads Leads
  26. 26. CUSTOMER DECISION JOURNEY 26 SEA keyword examples n/a protective life insurance, best life insurance, universal life insurance, life insurance near me, best life insurance policy, family life insurance, life insurance for children, lumico life insurance, guaranteed life insurance, final expense life insurance … n/a Ad / sponsored platforms examples consumerreports.org https://smartasset.com https://www.reviews.com https://www.usnews.com money.com, YouTube ads, Facebook video ads, AOL, newyorklife.com Gmail (target email ads with users receiving competitor emails), Google Ads, Google Display Network, Facebook, Yahoo ads Facebook, YouTube Organic platforms examples Facebook, Podcasts Website, Blog, Facebook Messenger, Get A Quote Facebook Tab Website, Email, Facebook Content titles, samples & templates Thai Life Insurance’s “Street Concert”, Be assured, Click to Insure, StateFarm Facebook ad, Max NY Life Insurance guerrilla marketing ad, Financial planning for new parents Ladder Facebook ad, Prudential Facebook ad EMAILS: 18 States Live!, Thank you + quick question, CIGNA 'LIFE STAGES' LIFEONE® INSURANCE CAMPAIGN, Year in review Complexity: Medium JANE’S STRATEGY
  27. 27. CUSTOMER DECISION JOURNEY KATE’S STRATEGY 27 Complexity: Hard Targeting 56-65 years old, with family, both genders, likes TV, movies, pets, art, cooking, home & garden activities, planning for retirement Remarketing to existing customers, positive NPS 8+, have been a customer for 6 months + Touchpoints TV, native advertising, friends referrals & word of mouth, lifestyle publishers, billboards, flyers, post mail brochures, press releases, magazine ads (home & garden, cooking, senior content) SEO, SEA, FAQ, phone line, website, Get a booth at local fairs, festivals, and events Email marketing trigger based workflow, customer events, website portal Content Long term insurance, family support insurance, articles in local neighbourhood specific publications, Retirement planning Competitor keywords & domains (ads), customer (video) testimonials Loyalty program, surveys Budget allocation 60-70% 20-30% 5% KPIs Calls Conversion rate, Calls, Leads Leads
  28. 28. 28 LET’S GET CREATIVE CAMPAIGN CONSIDERATIONS Mike Infographic: Key milestones of being an adult Game: Plan for your life as an adult Giphy: My first successes/losses of adulthood Weekly live AMA on Facebook Video series: Why did you choose Life with XYZ? Year in review with XYZ (infographic + video + blog) “Thank-You” for a referral: * Credit of X on your Life Cover policy * X value premium discount * Gift card to local merchant * Monthly and Annual draw to win vouchers, movie tickets, gadgets * Donation to a charity Jane Fill in the blank: ____? Be insured
 Infographic series: step by step to buying a first house, mortgage 101, growing a family Infographic series: why ____ chooses XYZ over ____ 28
  29. 29. TIMELINE WHERE TO START, WHAT TO FOCUS ON 29 ▸ Create content: ▸ digital ad copy ▸ email ▸ blog ▸ Update website ▸ Set up email workflow ▸ Set up re-marketing audiences ▸ Initiate campaigns development ▸ Contact media publishers ▸ Join Quora discussions ▸ Join Reddit discussions REMARKETING >> SETTING UP PRODUCTION ▸ Develop dedicated advocates' materials: contest, web portal, emails, social content ▸ Schedule events: ▸ live AMA sessions on Facebook ▸ contact external events for sponsorship ▸ contact external events for participation & speaking ▸ Set up native advertising ▸ Initiate video production ▸ Update website: ▸ add chat option ▸ add phone number ▸ Blog ▸ FAQ ▸ SEO CAMPAIGNS - 1 ▸ First set of campaigns go live: ▸ initial tests launched first, then learn & iterate ▸ digital: SEA, media publishers, video, social, comparison sites, events, blog ▸ Ongoing monitoring, responding, reporting & optimisation CAMPAIGNS - 2 ▸ Second wave of campaigns go live: ▸ digital: SEA, media publishers, video, social, comparison sites, events, blog, PR ▸ offline: magazines, brochures, TV, flyers, events ▸ user-generated content ▸ Ongoing monitoring, responding, reporting & optimisation
  30. 30. EMAIL SAMPLE WORKFLOW SUBSCRIBED FOR UPDATES REQUESTED A QUOTE USED ONLINE CALCULATOR PARTICIPATED IN ONLINE GAME ATTENDED EVENT EMAIL LIST CLIENT SURVEY INPUT 30 OTHER SUBSCRIPTION SOURCES monthly newsletters 3 FEATURED EDUCATIONAL RESOURCES JOIN LIVE AMA MAIN EDUCATIONAL ARTICLE GET A QUOTE SPECIAL OFFER JOIN LIVE AMA 3 days, no upgrade 3 days, no upgrade 7 days, no upgrade 7 days, no upgrade 3 days, no upgrade 7 days, no upgrade LAST TOUCH BASE 30 days, no upgrade POLICY HOLDER WELCOME 3 FEATURED EDUCATIONAL RESOURCES 15 days after REFER FRIENDS 15 days after 2 days after SHARE YOUR EXPERIENCE
  31. 31. GROWTH EXPERIMENTS A FEW HACKS TO POWER UP YOUR MARKETING 31 ▸ Facebook ads: ▸ Use automation tools such as Zalster ▸ Uncover best converting ads across Facebook, Google, Instagram and YouTube ▸ Save hours on interest targeting research by using AdSlayer (expand on keyword groups and find niche keyword categories) ▸ Add extra layers of niche interest targeting (recommended 5-10 layers) ▸ Apply data layering to exclude more audiences in re-marketing ad sets ▸ Email: ▸ Increase your open rates and CTR with personalised video ▸ Improve signup confirmation rates with Sniper Link Technique ▸ Use Letterwell to find and contact newsletters for ad space ▸ Content: ▸ Get your product reviewed by top bloggers with GetReviewed.org ▸ Discover creative topics & optimise your content headlines with neuro-flash.com ▸ Seed your website with personalised content ▸ Instantly transform your content into unique video, audio, stories & collections ▸ Include a Section on Referrals in Your Welcome Kits; Ask for Referrals When Delivering a Policy ▸ Advocacy: ▸ Easily share, track and reward employees for helping you share company content ▸ Analytics: ▸ Use HitBuilder with Google Analytics to better track conversions with GTM ▸ Get notified when your (custom) link gets clicked
  32. 32. REPORTING DASHBOARD TRACK & ANALYSE PERFORMANCE 32 Benchmark Actual Overall: ‣ Customer acquisition cost (CAC) ‣ Number of leads, calls, chats ‣ MoM % lead growth ‣ Customer satisfaction ‣ Churn rate $30 - 5% 8 - Website: ‣ Unique visits ‣ Bounce rate ‣ Average session duration ‣ Conversion rate ‣ Organic website visits - 40% 2 m 3% - Email: ‣ Open rate ‣ CTR ‣ Unsubscribe rate ‣ Website traffic from email 31% 4.6% 0.13% - Social: ‣ Engagement rate ‣ CTR ‣ Website traffic from social - - - Referrals: ‣ Website traffic from referrals ‣ Number of active advocates ‣ Number of referred new customers - - - Benchmark Actual Ads: ‣ CPC ‣ Conversion rate ‣ CPA ‣ CTR $2 - $10 5.10% - 1.19% $81.93 - $56.76 2.91% - 0.52%
  33. 33. REPORTING DASHBOARD MONTHLY BUDGET 33 In $ USD Budget (low end) Budget (high end) Actual Paid search $3,000 $8,000 Paid social $1,500 $3,000 Remarketing $1,000 $2,000 Other digital ads $1,000 $2,000 Content production $1,500 $2,000 SEO - $1,000 Sponsorship - $8,000 Special offers $1,000 $2,000 Influencers - $3,000 Affiliates - $3,000 Events - $8,000 Print / offline media $1,000 $8,000
  34. 34. THAT’S A WRAP ▸ That’s it for now. We hope that this marketing plan has brought new insights to your marketing planning, and you are now better set to start your activations. ▸ As we are still in BETA, any feedback is very valuable for us to continuously improve our solution! Please complete a short survey, it will just take you a minute! ▸ https://growthplan.typeform.com/to/CTNxXk ▸ If you have any questions or suggestions, please do not hesitate to contact us on hello@growthchannel.org Happy hacking! 34
  35. 35. 35 🚀 GROWTHCHANNEL.IO 🚀

×