The insurance vertical faces several industry-specific challenges such as long sales cycles as consumers use the Internet to evaluate multiple vendors during pre-purchase, customers typically only buying one or two products from the total portfolio, and agent turnover. Marketing technology systems can help to combat these challenges by simplifying the process of coordinating insurance marketing initiatives with dedicated or independent agents.
MRM can help
1. Simplify campaign distribution. Marketing resource management systems can help simplify the process of coordinating joint campaigns with agents. When new campaign materials become available, it is easy for agents to enroll in the campaign and upload target lists with just a few clicks.
2. Consistent brand delivery. Marketing messages distributed from an MRM system leverage your brand more effectively because they offer broad control of your corporate marketing messages and brand imagery. Rather than agents creating their own materials, corporate marketing messages can be personalized and localized by agents with corporate review. Additionally, full-service marketing service providers can help to streamline the end-to-end process of campaign distribution and fulfillment and ensure consistent brand delivery with exact color matching.
3. Reduce marketing costs. MRM systems can help agents to manage multiple campaigns focused on different target customers. Print campaigns can also be timed so that mailings are aggregated, helping to take advantage of direct mail cost savings.
4. Increase conversions. Marketing technology platforms can be leveraged to help coordinate activities in your marketing promotions mix. Full-service marketing service providers can also offer project management services to help coordinate your ongoing lead nurturing campaigns.
- Continuity campaigns incorporating a mix of educational and promotional content can be scheduled and managed through an MRM system to keep your company’s name in front of your agents’ prospects and help nurture leads through to purchase over time.
- Current customers can be grouped into target segments for up-sell and cross-sell campaigns that can be scheduled for distribution from within your MRM system.
- Events and seminars can be planned with content specific to agents’ target segments, for prospects or current customers, while invitations and communications for each seminar can be managed from within the MRM system.
Marketing resource management systems extend beyond the technology platform and serve as a strategic business tool to improve engagement with your agents’ target segments, both in educating prospects and growing revenue from existing accounts. MRM systems enable streamlined, consistent brand impressions and empower your dedicated and independent agents alike to customize brand materials while ensuring brand compliance. In the end, by simplifying the insurance marketing process and helping your agents become more successful, you reduce turnover and become the brand of choice with independent agents.
How are you using your marketing technology system to streamline brand impressions and nurture prospects through to purchase?