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Ensuring Insurance Brands Engage Customers

Posted by andrew.mockridge | 24 April

Insurance companies are in a unique but opportunistic position when it comes to marketing. They are unique in the way that their offerings are intangible, and for that reason, a majority of consumers consider insurance a grudge purchase. No matter if it’s car, income protection, life, or even pet insurance, no one really looks forward to or enjoys spending money on insurance, especially if you see nothing in return.

These characteristics encourage insurers to focus heavily on CRM and loyalty, with many attempting to offer more for less and to engage with loyalty platforms. In the U.S specifically, many are taking a customer-centric approach to ensure the customer experience is seamless, both at the point of purchase and beyond. There is an increase in focus on big data to enhance personalization not only of the product offered, but also of the associated rewards and incentives. 

However often consumers aren’t making rational purchase decisions, they’re deciding based on their heart, their feelings and their emotions in regards to a brand.* Ensuring there is an element of customer engagement and personalization helps to create positive feelings and associations and these will aid in facilitating an auto-pilot choice response and salience toward the Insurer. This is especially relevant for grudge purchase cases as they often carry negative emotions and post-purchase dissonance. It helps to focus on the positives; yes, no one looks forward to or enjoys spending their money on insurance but they do enjoy having peace of mind while they enjoy life.

Becasue of this, it makes sense to focus on delivering experiences and strategies that make life easier or more enjoyable for consumers.This can be done by creating positive memories and connections. The biggest Insurers turn to TLC Marketing Worldwide for help in delivering marketing strategies that create positive associations between customer, offering and brand. If you would like to know more contact TLC Marketing USA at USA@TLCMarketing.com or visit our website.

*Mindshare Technologies, 2013

By Amy Robson