{"id":2507,"date":"2018-09-14T07:30:05","date_gmt":"2018-09-14T07:30:05","guid":{"rendered":"https:\/\/devbloglavaprotocols.nityo.in\/what-would-insurance-companies-need-marketing-automation-for\/"},"modified":"2018-09-14T07:30:05","modified_gmt":"2018-09-14T07:30:05","slug":"what-would-insurance-companies-need-marketing-automation-for","status":"publish","type":"post","link":"https:\/\/www.lavaprotocols.com\/the-cloud-blog\/what-would-insurance-companies-need-marketing-automation-for\/","title":{"rendered":"What Would Insurance Companies Need Marketing Automation For?"},"content":{"rendered":"<div style=\"margin-top: 0px; margin-bottom: 0px;\" class=\"sharethis-inline-share-buttons\" ><\/div><p><em><strong>By Daniel Newman, Product Marketing Manager, Salesforce<\/strong><\/em><\/p>\n<p><!--more--><\/p>\n<p>Marketers at insurance companies have their work cut out for them.<\/p>\n<p>According to\u00a0<a href=\"https:\/\/newsroom.accenture.com\/news\/470-billion-in-insurance-premiums-up-for-grabs-due-to-declining-customer-loyalty-and-perceived-product-commoditization-according-to-accenture-report.htm\" target=\"_blank\" rel=\"noopener\">a study by Accenture<\/a>, the number of consumers who perceive that \u201cmost insurance carriers are the same in terms of their products and services,\u201d jumped 50% in the last year.<\/p>\n<p>Furthermore,\u00a0the same study revealed that only 27% of customers have a high opinion of their insurance providers\u2019 trustworthiness, and only 16% of respondents said they would definitely make a repeat purchase from their provider.<\/p>\n<p>Today\u2019s fast-paced digital buyers expect relevant products, services, and experiences \u2014\u00a0not a sea of sameness built around impersonal customer relationships.<\/p>\n<p>On top of lukewarm consumer perceptions and an increasingly competitive landscape, marketers in the insurance industry also face big strategic questions.<\/p>\n<p><em>How do we . . .<\/em><\/p>\n<ul>\n<li><em>reach consumers with better, more applicable information?<\/em><\/li>\n<li><em>nurture leads without stretching our marketing and sales resources too thin?<\/em><\/li>\n<li><em>set ourselves apart?<\/em><\/li>\n<li><em>create a unified team across marketing and sales?<\/em><\/li>\n<li><em>get the best data to provide personalised customer service?<\/em><\/li>\n<li><em>cultivate a loyal base of customers?<\/em><\/li>\n<\/ul>\n<p>All of these questions \u2014\u00a0and more \u2014 can be answered, at least in part, with marketing automation.<\/p>\n<p>Here are a few ways insurance companies can use marketing automation to engage today\u2019s digital buyer.<\/p>\n<h3><strong>1. Create More Personalised Experiences<\/strong><\/h3>\n<p>While you\u2019ve heard the common refrain over and over, it\u2019s no less relevant: consumers crave personalised experiences. In fact, 52% them are likely to switch brands if a company doesn\u2019t personalise communications, according to Salesforce\u2019s fourth annual\u00a0<a href=\"https:\/\/www.salesforce.com\/form\/pdf\/2017-state-of-marketing.jsp\" target=\"_blank\" rel=\"noopener\"><em>State of Marketing<\/em><\/a>\u00a0report.<\/p>\n<p>Reaching consumers at scale with personalised messages may seem like a tall task, but that\u2019s where marketing automation comes in. Based on behavioural triggers, such as when a returning website visitor downloads a guide to buying a life insurance policy, marketers can automatically follow up with a \u201cthank you\u201d email and nurture these relationships with related offers.<\/p>\n<p>Customised lead capture forms are also a great tool that can help with personalising content. Later in a lead\u2019s journey, marketers can use\u00a0<a href=\"https:\/\/www.pardot.com\/blog\/data-conversions-progressive-profiling\/\" target=\"_blank\" rel=\"noopener\">progressive profiling<\/a>\u00a0to\u00a0select which form fields appear based on the information you already have about a particular lead.\u00a0As you collect this valuable customer data, you can then deliver even more relevant information via dynamic content.<\/p>\n<p>This doesn\u2019t just work for email, either; implementing dynamic content experiences on the web is an often overlooked method of creating personalised experiences.<\/p>\n<h3><strong>2. Support Your Sales Teams<\/strong><\/h3>\n<p>Sales and marketing teams shouldn\u2019t function separately. So, when you consider\u00a0<i>marketing<\/i>\u00a0automation, it\u2019s equally important to realize that you\u2019re <a href=\"https:\/\/lavaprotocols.com\/2017\/05\/19\/marketing-automation-increases-sales-infographic\/\" target=\"_blank\" rel=\"noopener\">affecting\u00a0<i>sales<\/i>\u00a0strategy<\/a>. Marketing automation, simply put, stretches beyond the marketing team.<\/p>\n<p>With\u00a0<a href=\"https:\/\/www.pardot.com\/solutions\/salesforce-engage\/\" target=\"_blank\" rel=\"noopener\">Salesforce Engage<\/a>, your sales teams can have access to records that show a lead\u2019s interactions with marketing materials, such as emails and website content. This way, they have a 360-degree view of a prospect\u2019s behaviour. Engage also gives your sales reps the ability to receive real-time alerts as prospects engage with their content, send marketing-approved email templates, and add prospects to personalised nurture journeys.<\/p>\n<p>These automatic workflows \u2014\u00a0like funneling the right data from strategic marketing campaigns to a sales rep \u2014 can help sales teams speed up an otherwise slow, manual the sales cycle.<\/p>\n<h3><strong>3. Build Loyalty with New Programmes<\/strong><\/h3>\n<p><a href=\"https:\/\/newsroom.accenture.com\/news\/470-billion-in-insurance-premiums-up-for-grabs-due-to-declining-customer-loyalty-and-perceived-product-commoditization-according-to-accenture-report.htm\" target=\"_blank\" rel=\"noopener\">Only 29% of insurance customers<\/a>\u00a0say they\u2019re satisfied with their current providers. This could lead to an estimated $470 billion in business that\u2019s up for grabs, according to an Accenture study.<\/p>\n<p>To keep consumers happy with their insurance, providers could build and implement educational onboarding or retention campaigns. For example, a consumer who signs up to get a quote for an auto policy might benefit from an informational nurture program about long-term automobile care. Creating a base of content around this topic and setting up email drip campaigns could encourage consumers to engage more with an insurance company \u2014\u00a0hopefully providing a foundation for a stronger relationship.<\/p>\n<p>For insurance providers who are constantly challenged with standing out from the competition while also delivering personalised customer experiences at scale, marketing automation might be the key to success.<\/p>\n<p><strong>For more information about how Salesforce Pardot can help your business meets its marketing and sales needs, email us at\u00a0<a href=\"mailto:asklava@lavaprotocols.com\" target=\"_blank\" rel=\"noopener\">asklava@lavaprotocols.com<\/a> or call us at 03-7885 9720.<\/strong><\/p>\n<p>\u00a0<\/p>\n<p><a href=\"https:\/\/www.pardot.com\/blog\/3-ways-insurance-companies-can-harness-the-power-of-marketing-automation\/\" target=\"_blank\" rel=\"noopener\"><em>Article<\/em><\/a><em> first appeared on the Salesforce Pardot blog.\u00a0<\/em><\/p>\n<p><i><span style=\"font-weight: 400;\">Lava is an <\/span><\/i><a href=\"https:\/\/lavaprotocols.com\/crm\/\"><i><span style=\"font-weight: 400;\">authorised Salesforce Partner <\/span><\/i><\/a><i><span style=\"font-weight: 400;\">in Malaysia and has more than a decade of experience in cloud solutions which includes marketing automation, CRM implementation, change management, and consultation. We pride ourselves in not just being a CRM partner but in also understanding the needs of our customers and taking their business to the next level.<\/span><\/i><\/p>\n<p><span class=\"et_bloom_bottom_trigger\"><\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>The jobs of marketers in the insurance industry is getting tougher. Consider these approaches of marketing automation for insurance.<\/p>\n","protected":false},"author":1,"featured_media":2508,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1],"tags":[18],"class_list":["post-2507","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-uncategorized","tag-blog"],"jetpack_featured_media_url":"https:\/\/www.lavaprotocols.com\/the-cloud-blog\/wp-content\/uploads\/2024\/10\/LPAug_140918.jpg","_links":{"self":[{"href":"https:\/\/www.lavaprotocols.com\/the-cloud-blog\/wp-json\/wp\/v2\/posts\/2507","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.lavaprotocols.com\/the-cloud-blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.lavaprotocols.com\/the-cloud-blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.lavaprotocols.com\/the-cloud-blog\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.lavaprotocols.com\/the-cloud-blog\/wp-json\/wp\/v2\/comments?post=2507"}],"version-history":[{"count":0,"href":"https:\/\/www.lavaprotocols.com\/the-cloud-blog\/wp-json\/wp\/v2\/posts\/2507\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.lavaprotocols.com\/the-cloud-blog\/wp-json\/wp\/v2\/media\/2508"}],"wp:attachment":[{"href":"https:\/\/www.lavaprotocols.com\/the-cloud-blog\/wp-json\/wp\/v2\/media?parent=2507"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.lavaprotocols.com\/the-cloud-blog\/wp-json\/wp\/v2\/categories?post=2507"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.lavaprotocols.com\/the-cloud-blog\/wp-json\/wp\/v2\/tags?post=2507"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}