Whether you’re in the life, health, auto, or home insurance business, your agency has to overcome many modern-day challenges to succeed. Your customers know more about insurance than ever before and their expectations from you, their insurance provider, have grown exponentially. That means you have to adapt to their demands by giving them the products and services they want. (Hint: We’re going to tell you what they want. Keep reading.) In short, you need insurance agency marketing ideas that grab their attention.
When it comes to marketing your insurance business, your strategy is more important than ever. You need a plan that’s proven to work. MSP can help bring all your insurance agency marketing ideas to life. From direct mail to automated marketing, personalization—even digital integrations—we can help you attract new clients and keep your current ones happy. Let’s get to work.
Insurance Agency Marketing Ideas Begin with Direct Mail Production
Let’s begin with some direct mail marketing statistics. Almost 80% of the people that receive direct mail sort through it immediately. Most of them consider it a pure joy to receive mail. Then they keep it in their house for an average of 17 days. Ultimately, they respond at a rate of more than 5%. These numbers prove that direct mail is a thriving marketing channel. But it’s especially effective for insurance businesses, where it’s used more often than in any other industry.
Direct mail is one of the key insurance agency marketing ideas that’s been proven to work time and again. It’s arguably the most credible marketing technique in the insurance industry. According to the Data and Marketing Association, insurance marketers spend more than $6 billion each year on direct mail marketing. And that number is expected to continue rising.
MSP specializes in direct mail production. In fact, we’ve been industry experts for more than 65 years. No matter what your insurance marketing needs, we can customize a solution around your unique challenges and goals. It doesn’t matter whether you have a 10,000-piece update or you’re sending a campaign with over 10-million pieces, we’ll help you find the best solution for your insurance agency.
Direct Mail Panorama: The Future of Direct Mail Management
If you’re like many insurance agencies, you’ve probably found that it can be difficult and time consuming to manage your direct mail campaigns. That’s why we created Direct Mail Panorama. It’s a software program that gives you better control and a far more detailed understanding of your direct mail marketing campaigns than you ever thought possible. This is the future of direct mail management—today! Here are just some of the benefits you can expectt:
- Reduced management time. You’ll notice a smaller workload for your high-volume campaigns.
- Improved speed to market. You’ll save time on direct mail production and delivery so you can get your mailing into your customer’s hands before your competitors.
- Simplified editing and approvals. Direct Mail Panorama has an automated proofing system. It detects changes, determines which templates they apply to, and sends only the necessary proofs to the authorized user for a faster approval process and more transparent direct mail management.
- Detailed reporting. Good news! You can monitor and evaluate EVERY step of the mailing process.
With Direct Mail Panorama, you can streamline the entire direct mail production process and get a more in-depth analysis of your marketing campaigns. It actually provides a “panoramic” view of all your direct mail metrics. This allows you to improve from one campaign to the next. What does that mean for your insurance agency? You’ll enjoy shorter cycle times and higher engagement rates—not to mention cost savings.
If you’d like to talk more about Direct Mail Panorama, contact an MSP representative today.
Increase Your Sales by 20% with Personalized Mail
When you personalize your marketing campaigns, it leads to a 20% increase in sales, on average. That’s why more than 70% of insurance marketing campaigns include personalization. Plus, most customers say they’d gladly share their personal information with insurance agencies to obtain personalized services. So where do you go from here? Well, you should start adding personalization to your insurance marketing campaigns immediately. Forward-thinking insurance marketing ideas hinge on personalization.
Remember we said we were going to tell you what your customers want? They want personalization. Let’s look at some examples.
Personalize by Name
A person’s first name is the most obvious form of personalization, but be sure to use it as part of your campaign’s offer. So when you introduce your insurance agency or the insurance plan you’re selling, use your customer’s first name on the envelope and inside on the letter. This immediately creates a friendly tone and makes your campaign recipients feel special, no matter what kind of insurance you’re selling. It’s a great opportunity for your insurance company to create personalized content—whether you’re sending an email, a text message, or direct mail.
Personalize by Demographics
Insurance rates sometimes differ because of a person’s gender, age, and marital status. For example, women are typically safer drivers than men. That means they’ll pay less for auto insurance. The same applies to life insurance because women are less likely to buy it (usually because they consider it too expensive). This means you’ll market to men and women a bit differently. Auto insurance premiums fluctuate based on a person’s age and whether or not they’re married. When your contact list has a wide range of demographics, consider the differences before sending the wrong message to the wrong person.
Personalize by Purchase History
When you have a customer that purchased an insurance policy from your agency in the past, they might have an interest in another type of insurance that you’re selling, too. Let’s say you sold them a health insurance policy. Based on that fact, plus some specific demographics, they might be a prime candidate for a particular type of supplemental insurance. The more you know about your customers, the better prepared you’ll be to provide the insurance they need.
Personalize with a Handwritten Note to Your Customers
We’re used to receiving emails and text messages. Businesses send and receive over 124-billion emails each day. Meanwhile, Americans send approximately 26-billion text messages each day, according to Business Insider. So when we receive a handwritten message—in an envelope, in our mailbox—it stands out from all those other messages. It creates a human connection in a world that’s increasingly disconnected.
Email and text message (SMS) marketing work. We’re not here to discourage you from using those channels. But when you send a handwritten note to your customers, you’re making a statement. You’re saying that you care enough to take the time for them—even if you don’t have a lot of time to spare. That’s where our patented digital handwriting technology comes in. You can personalize a message that looks just like real handwriting without taking the time to write each one by hand. Whether it’s a personal note to a customer, a holiday greeting card, or a simple thank-you, handwritten notes create a special connection with your customers.
Use Variable Data Printing to Multi-Personalize
MSP uses variable data printing (VDP) to change various aspects of each direct mail piece without slowing down the printing process. You can modify the text, the color, or the graphics from one printed piece to the next to better suit your recipients. That way you can print as many personalized, targeted direct mail pieces as necessary in a single run. You can print one campaign but have different variations based on your recipient’s specifications. It doesn’t matter whether you print 1,000 or a million pieces of mail. VDP keeps the process running smoothly without any delay.
Personalization: Lemonade Insurance Gets with the Times
Here’s something you should know about your industry. Insurance companies have been slow to adopt modern-day marketing methods. Furthermore, they’re oftentimes not delivering on the value their customers want—especially with millennials. That’s not to say everyone’s doing it wrong. But the ones that do it right earn the loyalty of their customers. And that’s where you want to be. Insurance customers want more for their money. They want:
- Personalized service that speaks to them as an individual. They want to know they matter in the eyes of the insurer.
- A good selection of policies at fair prices.
- Product and service information that’s easy to understand with simple, convenient transactions.
- Additional services from their providers. For example, when they buy health insurance, they may also want advice on how to live a healthier life. (Imagine the possibilities with content marketing!) When they buy auto insurance, they may also want roadside assistance when and where they need it.
Lemonade is a digital-first, property and casualty insurance company that launched in 2016 with the moniker: “Home and Renters Insurance Built For the 21st Century.” They quickly backed up that claim by outperforming more-established insurance providers. Lemonade built up a bevy of loyal customers by offering personalized service for a product that’s simple to use. Actually, they reversed the traditional insurance model. They charge a flat fee, pay claims quickly, and give back what’s left to causes their customers care about rather than pocketing the profits.
(They designed their business to turn insurance from “a necessary evil into a social good.”)
If you can accomplish these things, you’re well on your way to not only competing as an insurance agency, but thriving and building a loyal base of customers for the long haul.
Automated Marketing Makes Your Direct Mail Production Work Better
We know that direct mail marketing works as one of the top insurance agency marketing ideas. It has impressive open rates, response rates, and ROI. Plus, people love to receive it. But it works even better when you apply automation. Research shows that direct mail receives 5x more engagement when it’s triggered by a recipient’s own actions. That helps you reach the right customers with the right message at the right time.
The problem is that most insurance agencies don’t know exactly who they’re marketing to. That also means they don’t know if their messages are meeting the needs of or solving the problems for their customers.
MSP’s marketing automation systems help with a variety of repetitive marketing behaviors. You could use automation for email campaigns, social media posts, and website form actions. This greatly increases your conversion of leads. But automation also applies to direct mail. Here are a few of the ways you can turn on automation for your direct mail campaigns.
Say Hello to Interested Consumers
Automation can play a big part in how you interact with potential customers early on. Let’s say you have a consumer who requests a quote for an auto insurance policy. You could nurture them along the path to becoming a customer with related information. It could be how to take care of their car, long term. In fact, you could create content around this very topic, then build an email drip campaign to steer these consumers into more interaction with your insurance company. You could send a mix of informational emails, text messages, and direct mailings. This would hopefully provide the solid foundation you seek for a stronger relationship and developed trust. And ultimately, a customer and avid supporter of your insurance company.
Stay in Touch with Your Current Customers
Only about 30% of insurance customers say they’re satisfied with their current insurance provider. That means there’s hundreds of billions of dollars up for grabs. If your insurance company is in this same boat, the good news is there’s plenty of room for improvement. This is where an automated retention program can serve a very valuable purpose.
MSP has the latest direct mail automation equipment. This gives you all the tools you need for a successful insurance marketing campaign, no matter how large or small. Contact an MSP representative today to talk about your marketing automation goals. If you’re still on the fence about automation, let’s look at your agency’s marketing goals and discuss the advantages an automation program provides.
What Does Large Format Printing Have to Do with Marketing’s Rule of Seven?
Why should large format printing be one of your insurance agency marketing ideas? The Rule of Seven. This old marketing adage states that a consumer needs to see a message as many as seven times before they’ll act on it. Maybe direct mail and digital marketing comprise the bulk of your marketing strategy. But there’s no denying the efficacy and appeal of well-designed and beautifully printed marketing materials.
Plus it’s just another way to deliver your message to potential customers. Here are some print collateral ideas for your insurance agency.
- Retail advertising. So you don’t have the type of inventory a typical retail store does. But you still need to make a strong impression with the marketing materials around your office. Consider the banners, posters, and other large printed materials that will stand out and showcase both your brand and your services.
- Trade shows. Do you ever attend trade shows to promote your insurance agency? We can help with vinyl banners, tabletop displays—everything you need to make a strong first impression.
- Grand opening or welcome banners. Whether you’re just starting your agency or you simply want everyone to know you’re open for business, a welcoming banner will serve as an eye-catching promotional message.
- Billboards. When you’re ready to take your agency’s message to the streets, a colorful billboard will help deliver a powerful message to the masses.
Digital Integrations: Combine Digital and Print Marketing
If your insurance agency marketing ideas include trying to decide between digital and print marketing methods, don’t waste your time. Instead, choose both. When you combine digital and print marketing into an omnichannel marketing strategy, you’re increasing your year-over-year retention rates by more than 90%. Wouldn’t you like to keep your current customers? When you combine digital and traditional marketing methods, it puts you in the best position to do just that.
Let’s look at a couple of the most popular ways you can combine digital and print marketing into one effective strategy.
QR Codes Look Funny But They Work
QR (Quick Response) codes are everywhere. It’s estimated that approximately 11-million households will scan a QR Code in the U.S. in 2020. That number is expected to continue increasing rapidly. QR codes are easy to implement. You’ll need a website URL that refers to a custom landing page on your website. This could be something like youragencywebsite. com/campaign1 or campaign1.youragencywebsite. com. Then you can use your preferred analytics platform to track the activity on that page.
PURLs Make Your Customers Feel Important
A personalized URL (aka PURL) is very much like a QR code except you’re providing the actual, personalized URL (youragencywebsite. com/campaign1) for the recipient to see. You could say it’s more visually appealing than the squiggly QR code, but it takes a bit more effort for the customer because they need to enter into their web browser. (Nevertheless, it makes them feel good to see their name in a URL, so they won’t mind typing it.) You can merge your direct mail and digital marketing campaigns with a PURL the same way you would a QR code. Just include the link within your direct mailing, then you can track the response in real-time.
You can use QR codes and PURLs on direct mail marketing campaigns and/or large format printing projects.
Insurance Agency Marketing Ideas: Direct Mail and More with MSP
According to a PricewaterhouseCoopers study, over 70% of consumers do some kind of research before buying insurance. They might click on a Facebook ad, download a whitepaper, visit your website to look at pricing options, or read one of your blog posts. The point is, they’re doing their research on your insurance business. So you need to prepare, and you need to give them what they want.
MSP can help take your insurance agency marketing ideas and turn them into success stories. From personalized direct mail campaigns to marketing automation, large format printing, and digital inegrations, we’ll help tranform your insurance prospects into happy customers. Contact an MSP representative today to discuss your insurance marketing goals.
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