by Michael Foster
Insurance is a unique industry with challenges that befuddle even the most competent marketer. Part of the problem is because consumers look at insurance very differently than they look at most goods and services that are marketed online.
To understand this, let’s think about marketing a car. Like insurance, a vehicle is a big-ticket item that is bought only once every few years. But unlike insurance, cars evoke emotion. Cars are objects of desire that people drool over. People will have passionate conversations about cars with complete strangers, stare at pictures of new models, covet classic models that are as old as their parents (or older) and save for years to get the one car they’ve always dreamed about.
Does anyone do this with insurance?
Of course not.
Insurance is a different game altogether. Most consumers look for the lowest cost. It’s a sad reality, but many insurers have learned that high quality, personalized service, extra perks and premium options rarely entice many through the doors. Esurance, GEICO and Progressive have spent billions building their brands, but at the end of the day their message is in their value proposition: We’ll get you the cheapest insurance possible.
Yes, insurance is a commodity, and generating leads for a commodity that many people don’t want to buy in the first place is tricky.
There is an upside, however. Because consumers are often looking for the lowest price, industry experts have learned that a highly quantitative and data-driven approach to generating leads often works to drive revenue. In other words, we don’t have to worry so much about our messaging and creating an emotional connection with consumers; we have to communicate a value proposition immediately and identify clients that we can sell to or upsell with a higher degree of success.
At this year’s LeadsCon, Ganis Insurance founder Stuart Ganis will moderate a panel including Direct Property and Casualty CEO Ralph Perez and Assurance VP Marketing John Lorge as they discuss how insurers embrace data-driven insurance lead generation efforts and how new opportunities in the marketplace are providing new marketing channels for insurance professionals.
The session will go beyond a discussion of data. Stuart will guide a discussion about how insurance marketers use tactics to get and keep consumers’ attention and what techniques they use to stay top of mind with existing clients throughout a very long and expansive sales funnel. The panel will also discuss how insurance marketers can steer consumers away from the price obsession that often drives insurance purchasing decisions and instead guide potential customers toward identifying the many ways that insurers can provide value for customers.
Join us at this year’s LeadsCon to see how insurance marketing is rapidly changing and how the best marketers in the business are adapting.
Click here to register for LeadsCon Las Vegas 2017.