Behavioral and Situational Marketing for Different Age Ranges
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Take a page from the advertiser's book and use behavioral and situational marketing strategies to enhance your email marketing.
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Behavioral and Situational Marketing for Different Age Ranges
- 1. Masters of Marketing Talkin’ ‘Bout My Generation: Behavioral and Situational Email Marketing for Different Age Ranges Heather Galloway AgencyBuzz Coordinator
- 2. Welcome to Masters of Marketing! We will begin the webinar promptly at 12:00pm, CST. • Today we'll be talking about Talkin’ ‘Bout My Generation: Behavioral and Situational Email Marketing for Different Age Ranges • Follow us on Twitter for more tips, tricks, and the latest digital marketing news: #MastersMktg • If you have questions during the webinar, please use the chat window and I will answer all questions at the end. • Join us next time (7/21 at 12pm, CST). SEO Coordinator John Dessommes will cover: How to Perform an SEO Audit on Your Insurance Website • SAVE THE DATE: AgentCon 2017 will be held April 20-21, 2017 at the DFW Hilton Lakes Hotel Thanks for joining us today. Heather Galloway 800-383-3482 x 182 hgalloway@getitc.com
- 3. What is Behavioral Marketing? • “Behavioral Targeting is a technique used by online publishers and advertisers to increase the effectiveness of their campaigns through information collected on an individual's Web-browsing behavior” • Possible Behaviors to Track • Signing Into an Account • Viewing a Product/Page • Completing a Form • Email Engagement • Purchase • Blog/Newsletter Subscription
- 4. Why Behavioral Marketing? • Beneficial to the Consumer • Revenue Opportunity • Improved Email Marketing Performance • Increase Conversions Action Based Personal Timely Behavioral Marketing Context Conversions
- 5. Implementing Behavioral Marketing 1. Track Your Online Interactions 2. Determine the Actions to Respond to 3. Develop Content Based on Behavior 4. Automate Campaigns
- 6. Situational Marketing • Situational Marketing: Advertisement designed around a customer’s specific circumstances and needs. • Build Individual Profiles: “Personas” • Demographics: Age, Education, Family Life • Motivations, Fears & Goals: Personal and Professional • Behavior Patterns & Purchase Tendencies
- 7. Baby Boomers (Age: 52-70) The American Dream • Over 50% of Consumer Spending • Rejection/Redefinition of Values • Goals: Health, Energy, Wellness • Suspicious of Authority • Work-Centric • Financial Denial/Privacy • Lines of Business to Target: Life, Long-Term Care, Disability
- 8. Generation X (Age: 36-51) Independence • Email is King of Communication • Financial Priorities: Kids’ College, Home Ownership, Entrepreneurship, Financial Independence • Focused on Family Values & Nostalgia • Lines of Business to Target: Renters, Home, Life, Commercial
- 9. Generation Y/Millennials (Age: 18-36) Optimists • Underemployed • High Amount of Debt • Delay in Family Life • Less Engaged, More Likely to Disengage • Digitally Driven • Helicopter Parent Influence • Sharing Economy • Lines of Business to Target: Renters, Health, Auto • Under-Educated About Insurance
- 10. Generation Z/iGeneration (Age: 0-17) Realists • Digital Natives • Creative, Nontraditional, World-Changing Ambitions • Highly Influential to Other Generations • Money-Driven • Lines of Business to Target: Auto
- 11. Situational + Behavioral Email Marketing • Situational: Internal and External Influencers • Behavioral: Digital Interaction • Use Situational Targeting to Develop Content Strategy • Use Behavioral Targeting to Enhance Content & Develop Delivery/Trigger Strategy Action Based Personal Timely Behavioral Marketing Context Conversions
- 12. Thank You for Joining Us! • We will be posting the link to today’s recording on our blog: http://www.getitc.com/blog/marketing/ • Join us next time (7/21 at 12pm, CST). SEO Coordinator John Dessommes will cover: How to Perform an SEO Audit on Your Insurance Website Heather Galloway 800-383-3482 x 182 hgalloway@getitc.com
Editor's Notes
- Behavioral Targeting: User-Focused Approach: it is the actions of the site visitors that dictate what emails they receive, NOT a decision made by the marketer. Send emails that truly matter Highest level of segmentation/targeting Sending useful emails based upon web actions Behaviors to Track Every interaction that a user has with your company should have an expected and appropriate reaction.
- Beneficial to the Consumer More interesting experience Consumers can easily find the products/services they need Revenue Opportunity The single most important revenue opportunity of the future Campaigns sent to segmented lists and contain relevant content can achieve up to a 760% increase in revenue from email Email Performance Highly personalized content correlates to higher click-through rates (2-3 times higher) Triggered campaigns with personalized dynamic content outperform generic blasts like newsletters By targeting, you can substantially reduce the content in your emails. Increase Conversions Matching the right interests to the right customers at the right time can significantly increase conversions (as much as 50%)
- Track how people interact with you online. Find out exactly what data you can collect, interpret, and act on. (based on your website, email, and/or management system providers) EX: web activity, email engagement, form submissions, purchases Determine the important actions a user might take that are worth targeting through emails Since these emails are triggered from a prospect’s behavior, they are almost never a surprise. EX: Quote/Form Submission transactional/confirmation email EX: View a specific page send follow-up email with additional information EX: Time on Quote Request page without Conversion email asking for questions EX: Low Email Engagement Re-engagement Campaign Write a compelling email so you can start a conversation with the user based on that behavior. Create a highly personalized experience Unlike broadcast messages on your blog or social media, email provides a unique opportunity to create a highly personal experience. Automate campaigns to provide the timeliness required for relevancy
- A buyer persona is a semi-fictional representation of your ideal customer based on market research and real data about your existing customers.
- Financially supporting both children and grandparents Focus on: Benefits programs and financial planning. Financial scenarios (vs. personal conversations) Messages about how to conserve and pass on wealth to the next generation.
- Independence: Latchkey Kids Email is King Their Snapchat Checks Email Regularly Be professional in language Language: Sensible & Sentimental Appeal to their desire to provide for future generations and need for stability. Add lasting value, security, and protection. Calm, Realistic and Safe Scenarios (not wishful, aspiring, or extreme) Make their life easier and more fun Saving money is a huge priority Comfortable Hunting for Deals Tips: Cost and Company Reputation over Family Preference Casual informational sessions within a trusted environment
- Underemployed, or unemployed changes jobs frequently High Amount of Debt unable to purchase homes Delay in Family Life not buying houses or starting families just yet Less Engaged, More Likely to Disengage Improve online interactions Speedy, Straightforward, and Sharp content Digitally Driven 90% check email before getting out of bed Helicopter Parents – most likely to choose a family member’s insurance company (brand loyalty with X and boomers) Sharing Economy – promotes renting vs. owning Lines of Business to Target: Renters, Health, Auto No LOBs: Home, Life Undereducated About Insurance Tips: Keep accounts personal & secure Ease of making changes to coverage
- Digital Natives Highly comfortable with technology Creative, Nontraditional, World-Changing Ambitions Brand Loyalty based on innovative ways to change the world Highly Influential to Other Generations First Adopters of Change 50% of Mothers admit being influenced by Gen Z Money-Driven Hyper-aware of Gen Y dept Career Driven Better, Faster, Cheaper Ways to Solve Problems Saving Money > Environment Lines of Business to Target: Auto 92% Plan on Owning Car 97% plan on having license Tips Prefers: narratives & story-telling, YouTube/Video Always connected, multi-taskers