Selling life insurance to millennials is a challenge. After all, when you are just entering adulthood, who really wants to think about mortality? Life insurers must learn new ways to target this generation – and quickly. According to a study by LIMRA, ownership of individual life insurance policies has declined from 72% in 1960 to about 44% today. This rate will only continue to dip lower unless life insurance carriers can figure out a way to target millennials, an increasingly influential segment.
At its core, multi-channel marketing is a strategy that blends various communication channels (online, mail, email, social etc.) using consistent messages and brand imagery. The name of the game is a seamless experience for the customer, however or whenever they decide to interact with your brand. In a data-driven marketing world, it’s now easier than ever to create an integrated marketing experience across multiple channels, with a personal touch.
Nobody ever said selling cars was easy. Price negotiations, steep competition, and consumers with high expectations all make dealerships a high-risk, but high-reward, type of business. As dealerships forge ahead in the digital age when car buyers are already 57% of the way through their purchase journey by the time they step foot on the lot, many are looking for ways to gain the consumer's attention earlier in the sales cycle.
In the super competitive world of B2B marketing, it’s a battle between your success –or that of your competitors. The right marketing strategies can keep you way ahead of the curve, but if you aren’t keeping up with the times, your competition will be hard on your heels.
“Every day, three times per second, we produce the equivalent of the amount of data that the Library of Congress has in its entire print collection, right? But most of it is like cat videos on YouTube or 13-year-olds exchanging text messages about the next Twilight movie.” – Nate Silver (Author & Statistician)
Well, it’s 2015, and despite the Jetsons’ promises- I don’t have my flying car yet. I mean technically the show was set in 2062, so we at least have a few years left to hope. Flying cars or not, the automotive industry is rapidly progressing and big changes in the near future are guaranteed.
The insurance industry spends more than $6 billion a year on marketing, according to McKinsey & Company. (Just think of the millions of dollars alone in campaigns such as the GEICO gecko, the “We are Farmers” jingle, or the always helpful Flo from Progressive.)