Simply put, marketing automation technology analyzes customer behavior and sends personalized messages designed to grab an individual’s attention. Personalization and speed are the power of behavior-based marketing automation technology, and it’s one of the main reasons insurance brands use it to differentiate themselves. Let’s take a look at three ways insurance brands boost engagement using marketing automation.
1. Behavioral data
To better connect with their audience, insurance companies need to have a thorough understanding of their audience’s preferences and interests. As consumers browse a company’s social media, website, and apps, insurance brands can study their behavior to learn more about their interests and needs.
By doing this, companies can better understand who visits their channels and what coverage offers they are looking for. They can then leverage the information in conjunction with powerful marketing automation solutions, such as email and SMS, to create personalized communications that significantly reach their audience.
2. Automation of email marketing
Email marketing automation is a phenomenal lead generation tool in an industry reliant on new policyholders. After someone authorizes a business to message them, marketing teams can send automated emails designed to resonate with a prospect wherever they are in the sales process.
It is essential that insurance brands understand their customers, behaviors and preferences so that they can send relevant messages. Marketing automation can even send emails or texts when someone is most likely to engage.
Marketing automation plays an equally important role in retention and upselling as it is in acquisition. Automated messaging can be used to help insurance companies stay on top of upselling and renewal activity by sending personalized and policy-specific emails to automatically renew, bundle, or purchase additional products.
For existing policyholders, marketing automation can send information on how to reduce rates, promote new discounts and offers, and maintain a high level of communication with customers. When executed well, these communications are a powerful tool in creating positive experiences with policyholders.
3. Automation of SMS marketing
Most consumers are on their phones for more than five hours a day. As such, insurance brands are strategically using SMS marketing to reach people where they spend all their time: their mobile devices.
SMS marketing is a very effective way for insurance companies to instantly share information with their audience, enhance the exchange of value, and create positive brand experiences. Businesses can use it to send surveys, important policy updates, promotional offers, alerts, and reminders.
For example, if a customer qualifies for a discount on their insurance because of years of good driving, an insurer might send them a message congratulating them and asking them to lower their rate. This technology allows brands to maintain high level communication with their customers.
Like all marketing strategies, SMS is not limited to communicating with existing policyholders. Acquisition-driven communication is essential to maintaining a pipeline of new business, especially with younger consumers. If a consumer has opted in to receive notifications, insurance brands can use text messages to entice them to purchase a policy for the first time.
In a competitive market, insurance companies need to engage their prospects and existing policyholders with the right message, at the right time, and through the right channel. With automated marketing, businesses can take the guesswork out of it and optimize communications with customers at the same time.
David Greenberg is the Marketing Director of Act-On Software, where he oversees the company’s marketing and growth strategies. He has over 20 years of leadership experience in high growth marketing technology organizations.