Marketing data lies at the foundation of every successful marketing strategy. Data tells us who are best customers and prospects are, how to target them with the right offers and through the right channels, which messages will drive the most conversions, how to improve customer retention, and numerous other marketing initiatives. With the right mix of data, you can ensure that you are delivering the most optimal results for your business.
The life insurance industry represents an area ripe for growth as the economy is beginning to bounce back and consumer confidence increases. The winners in the life insurance industry will be those who implement more customer-focused strategies across a broader range of digital channels to meet evolving expectations. Here’s a look at 5 key strategies life insurers should be implementing to drive growth.
Email marketing continues to be one of the most effective online marketing strategies that dealerships can conduct. In fact, nearly 75% of adults say that email is their preferred method of communication (Apogee Results).
Car shoppers today are online before they ever step onto your dealership’s lot. And while this trend is not new news, a study commissioned by Cox Automotive through IHS Automotive confirmed that this is new normal for car shopping. Although dealerships may understand this, many have not made the switch from traditional marketing strategies to those that target digitally savvy consumers.
Although email has been around for 20+ years, it continues to be one of the most successful strategies for retail marketers. In fact, email marketing is the 2nd most effective ecommerce marketing channel, second only to search. StrongView recently surveyed email marketers about their email marketing plans for 2016. "More than a third cited 'increasing subscriber engagement' as their primary goal for 2016 and plan to use such tactics as mobile app push marketing and location-based mobile messaging to do so," StrongView says. "In fact, nearly a quarter of marketers (24%) already use location data in their email programs."
Mobile is taking over retail. Consumers research, price check, compare products, purchase, review products, and contact customer service all from the comfort of their mobile phones. And these uber-connected, mobile shoppers engage with retailers in virtually every way possible – whether they are deciding to purchase from an ecommerce site, researching prior to visiting a brick-and mortar location, and even then, while they are at the physical store location itself. Mobile has swept the retail landscape and retail marketers are flocking to their budgets to get onboard.
According to the U.S. Census Bureau, roughly 40 million people move each year, meaning the average business needs to replace about 20% of its customer base that move away in any given year. Targeting new movers who are looking to establish a new relationship with local businesses should be an important strategy for industries and businesses of any type.