Competition, regulatory requirements, an intangible product, and a distributed field organization of agency partners – these are among the top challenges insurance brand marketers face.

Technology can help tackle some of these challenges, however insurers have historically resisted innovation. A report by McKinsey on digital disruption in insurance stated bluntly, “Insurance has been relatively slow to feel the digital effect… But the industry is not impregnable. Companies that fail to adapt will weaken under the pressure exerted by those that use digital technology to slash costs and get better returns on their investments.”

Tags: marketing campaign, MRM, Insurance Marketing, marketing resource management, marketing systems, local marketing automation, marketing portal

Getting consumers to talk about and share their positive experiences with your brand, product or service with other people is the Holy Grail of marketing. It’s called word-of-mouth (WOM), and it’s one of the oldest and most effective forms of marketing. It’s estimated that word of mouth drives $6 trillion in annual global spending and is responsible for as much as 19% of purchases.

Tags: brand advocacy, marketing campaign, direct mail marketing, MRM, Insurance Marketing, marketing resource management, local marketing

Digital is king for today’s direct marketers. Or is it? Based on the findings of its annual direct marketing survey, the Association of National Advertisers (ANA) reported that while marketing professionals certainly make use of modern technology in their direct marketing efforts, traditional methods, such as sending messages in letter-sized envelopes via the U.S. Post Office can be remarkably effective. According to ANA’s survey, those who direct mailed a letter-sized envelope reported 112% ROI, ahead of SMS (102% ROI) and email marketing (93% ROI). Other direct mail formats that performed well included postcards, dimensional mail, and oversized envelopes, all of which exceeded 90% ROI.

 

“This important study demonstrates that traditional forms of direct marketing continue to be powerful engines for accelerating brand growth,” said ANA CEO Bob Liodice.

Tags: manufacturing marketing, marketing campaign, direct mail marketing, MRM, Continuity Campaigns, Insurance Marketing, marketing resource management, financial services marketing, franchise marketing

We know from our work with distributed organizations in industries like banking and financial services, franchising and insurance, that corporate marketers often look for ways to make marketing easier for their frontline operations. Automated marketing campaigns and services – like managed social media, set-it-and-forget-it direct mail campaigns, and lead transfer programs – are great examples. These services make it easier for frontlines to execute locally customized, recurring marketing campaigns. But managing and administering these services can be a drain on corporate marketing resources.

Tags: digital marketing, marketing campaign, direct mail marketing, MRM, Continuity Campaigns, social media, marketing technology, Insurance Marketing, marketing resource management, local marketing, marketing operations, local marketing automation, financial services marketing, franchise marketing

When it comes to driving business growth in distributed organizations, the importance of local marketing campaigns cannot be overstated. How quickly you get campaigns to market across your footprint, your system or your regions is critically important for staying ahead of the competition or for responding to changing market conditions.

Tags: marketing campaign, MRM, marketing technology, Insurance Marketing, marketing resource management, local marketing, marketing operations, local marketing automation, financial services marketing, marketing technology buyers' resources, franchise marketing

Marketing is not a static discipline. New trends, new technologies, changing consumer behaviors, and unforeseen world events. Every year seems to bring a new set of rules and a new playing field for marketers to navigate. If there’s one thing we in marketing can count on, it’s that marketing is constantly changing. If you’re not adapting or evolving you could be left behind. I was recently reminded of this by Social Geek podcast host Jack Monson, who advised, “The marketing landscape changes so quickly. If you are set on a particular marketing channel, you could be missing out.”

Tags: manufacturing marketing, MRM, marketing technology, marketing innovation, Insurance Marketing, marketing resource management, marketing operations, financial services marketing, marketing technology buyers' resources, franchise marketing, marketing adaptability

Did the pandemic reveal areas within your organization that were, or are, in need of restructuring in order to build greater resilience or to develop capacity for future growth? If so, you most certainly are not alone. According to a report from Gartner titled, The Future of Marketing Organizations: Rethink Marketing’s Organizational Structures and Responsibilities, the recent period of disruption has influenced CMOs to centralize their marketing organizations to alleviate operational problems and grow their teams.

Tags: marketing process optimization, brand consistency, MRM, marketing technology, Insurance Marketing, marketing resource management, marketing operations, financial services marketing, agile marketing, scale local marketing, marketing staff, marketing technology buyers' resources, franchise marketing, multi-brand marketing

What do your end users really think about your organization’s approach to marketing resource management? Even without explicit feedback, you can gauge their level of satisfaction by whether or not they use the marketing materials you create for them, or by how many questions or special requests you receive about your marketing resources.

Tags: manufacturing marketing, employee engagement, MRM, marketing technology, Insurance Marketing, marketing resource management, marketing operations, risk management, financial services marketing, marketing staff, marketing technology buyers' resources, franchise marketing, multi-brand marketing

My colleague Martha France recently wrote about how marketing organizations are being asked to do more than ever to contribute to operational effectiveness company-wide. This expanded role requires investments in talent and advanced, often complex, software systems. Choosing the right marketing technology for your organization is essential, but it’s only part of the equation. How you staff, configure and manage these systems correlates directly with the value your organization derives from the technology, which ultimately impacts competitive advantage and the return on your investment.

Tags: manufacturing marketing, marketing ROI, marketing budget, MRM, marketing technology, Insurance Marketing, marketing resource management, marketing operations, risk management, marketing resource management investment, financial services marketing, Competitive advantage, marketing staff, marketing technology buyers' resources, franchise marketing

Advances in technology, changing customer needs, and other market and societal forces are converging to evolve and expand the marketing function. Indeed, “Marketing’s role in strengthening a company’s operating effectiveness has never been more important,” according to a recent report in Harvard Business Review.

Here are some examples of how marketing’s cross-departmental involvement is being used to strengthen companies’ operational effectiveness.

Tags: marketing budget, human resources, collaboration, marketing technology, customer experience, Insurance Marketing, marketing operations, financial services marketing, marketing staff, marketing technology buyers' resources, franchise marketing