Interested in new insurance marketing ideas? Well, it’s obvious you seriously need new ideas to scale up within this COVID-19 pandemic period. Also, it is pertinent to state that what worked 5 – 10 years ago as marketing strategies may not be applicable anymore because of the new digital waves sweeping across the insurance industry in Nigeria and the world in general. A lot of articles exist on insurance marketing, some will give hundred of pages on marketing ideas and others with bullet points, while some of these ideas may get you the type of lead conversion you desire, others may generate one or two customers, leaving you with continuous application without comparative success – But, I have decided to work with my team to design something that works for all.
The ability to stand out with some unique marketing skills will keep you in ‘flying colours’ in a competitive environment like our industry. So, we have developed proven strategic ideas and online insurance marketing tips that could be targeted at attracting new and retain existing policyholders by using digital marketing to turn them into lifelong campaigners.
Who are a today’s customers? – Young, tech-savvy, highly sophisticated and seamless purchasing experience customers. They do not like to be sold to but prefer to do a thorough research on their needs before making a purchase decision. Unfortunately, insurance is SOLD NOT BOUGHT!
Below are highlighted strategies and ideas created to solve the problem of getting customers to buy insurance:
- SPICE UP YOUR WEB PRESENCE: Maintaining a great website leads to achieving more with your marketing campaigns. A fast, secured and mobile-friendly website is incredibly a great asset to any insurance company out there, they say ‘first impression lasts longer’, so every insurance company out there must ensure they do something about usability and improved online customer experience for their potential policyholders.
Using this link, you can test your site speed and usability, also, as a matter of web presence improvement measures, have your contact info in front and centre of the webpage, install a chatbot, speak less professional jargons, use colours that appeals to their thoughts etc.
2. A FANTASTIC SEARCH ENGINE OPTIMIZATION (SEO): How do you want to be found online? What major keywords will a potential search for and your website pops up? A greater percentage of online experience starts with an impressive search engine, your developers must be able to perform the following on your website; optimised title tags and meta descriptions, secured, mobile-friendly, quality contents, optimised images, backlinks etc.
3. CREATE A BLOG: There is a popular saying that ‘data is the new oil’, but a lot of the people or organizations are yet to comprehend the full capabilities of building a great data for their company. However, data can’t be built upon without good contents – yes, content is king!
Blogs will not only generate traffic to your website but will also prove your mastery of insurance-related and individual-profiled topics, build trust and transform your insurance company into resource powerhouse. It also plays a critical role in product research for consumers looking to purchase a new insurance product.
Some insurance topics that can serve as reference point can be found on insuranceblitz.
4. “DITCH” THE INSURANCE JARGONS: So, as we all know, there is an age-long scepticism about insurance – it’s extremely overwhelming right?!
I guess then it’s high time we create a simple, less cumbersome to understand and customer-centric information about products, terms and conditions and principles that makes insurance interesting while creating less product options to avoid confusion. E.g How to Easily Understand Your Insurance Contract.
5. MAINTAIN ACTIVENESS ON SOCIAL MEDIA: Is social media beneficial for your company? Yes, it is and must be smartly optimised for good lead generation. As insurance agents, employees or digital marketer, you are advised to create and maintain reasonable presence on twitter, LinkedIn, Facebook and Instagram.
I know you will be wondering how you will manage four activities while pursuing your marketing and administrative targets effectively? That’s where the power of optimization and linking of account comes in. Do you know you can connect a well written content through your LinkedIn Page, which feeds twitter, connects your Facebook page and link to your Instagram page?
Nigeria is blessed with over 15,000 insurance agents and at least a larger percentage of them have one social media account without little or no effort in place to advertise their products. So, how do we close the missing gap?
Here are some ideas:
- Write tips on how to keep your insurance cost low
- Post infographics of statistics relating to insurance, traffic, accidents etc
- Post about events
- Share customer’s feedback and stories
6. MAKE YOUR IMPACT KNOWN TO THE COMMUNITY: The insurance industry in Nigeria and some of the Africa currently battles less than 1% penetration rate by customers, so technically, 99% of the customers do not like insurance!
So, how do you penetrate your people without creating trust issues and “always wanting to sell syndrome” behaviour – Empathise. Engage people and the community constructively, engage in charity, free advisory services, traffic and driving tips etc
Naturally, people have a distaste for insurance marketers and it’s your job to make them see the human side of you when you engage online or offline.
7. CREATE AND USE EMAIL MARKETING: Your inability to communicate with your policyholders regularly gives another competitor an opportunity to take over their needs. today’s customers love to research their needs and the companies offering them, ensuring email marketing is part of your engagement plan is key for sustaining a good customer engagement and experience.
Recent updates on product, industry news, national and state-related news, policy renewal and stakeholders’ communication updates is really essential.
I have seen a lot of people say email marketing is not an effective online marketing tool because of the bounce rates, have you also considered what you lose when you don’t use it?
Generating qualified data had been a major problem with the industry, but since the introduction of compulsory KYC for businesses by NAICOM, this practice has been generating impressive outcome and these results can be extended on a route to achieving email marketing leads and conversions.
Email marketing does the following when effectively applied for marketing:
- Proven and impressive return on investment
- Transaction sales get more click rates and generate better revenue
- Emails reach decision-makers directly and improve buying decisions
- More qualified leads have proven to discover websites via emails
Thinking about right email marketing ideas?… the following can save a job:
- Send automated follow-up mail after a claim notification
- Automate your renewal notices to customers
- Design and run a referral contest
- Create a monthly tips – traffic, tyres, cars, weather etc
- Warn consumers about trends that may affect them
So, how do you begin your insurance digital marketing plan?
First, you need to generate some digital competitive analysis to assess what your competitors are doing, things they not getting right, areas of complaints by customers, new trends searched by customers and new insurance opportunities your competitors are taking advantage of. With all these analyses done, it will be easier for you to map out a customer-centric marketing channels to fully optimise your position as a top offline and online marketer.
Do not waste your time and data arguing about issues that does not yield any positive review or impact on your ultimate marketing goals. Be digitally productive with your time on social media. If you need to create a digital marketing strategy for your insurance company or a personal digital marketing strategy, we are just a call away.
The author would like to thank and acknowledge the contributions made by Adebiyi Muhammed, a Team Lead, Schemes and Retail with YOA Insurance Brokers Limited in their Lagos office. He can be reached on WhatsApp – 08072659474, firstname.lastname@example.org.