The marketing ecosystem has changed for insurance marketers, as a result of healthcare reform and economic changes. Marketers understand the need to deliver on the promise of value and relevance, by providing personalized content to a variety of different audience segments. The personalization imperative, coupled with privacy and compliance concerns, is driving a process-oriented shift in insurance marketing.
Here are 3 ways insurance marketers are benefiting from marketing automation.
1. Recruit new agents, brokerages, and financial advisors to represent and promote products and services.
Insurance carriers depend heavily upon complex distribution channels of agents and brokers to maintain and grow their business. Moreover, independent advisors are reducing their number of carriers they work with and typically place 50% with their top carrier, causing competition to increase.
Insurance marketers can leverage automation to systematically deliver marketing content, and ascertain which efforts are resulting in over or under communications with the respective members within insurance distribution channels.
Sales has greater visibility into how agents onboard, as well as their interests, by analyzing the pages they’ve viewed, the forms they submitted, or which emails they responded to. This information helps sales prioritize outreach programs.
2. Drive thought leadership and brand product awareness to each distribution channel based on preference and fund type.
With the enhanced focus on building strong relationships, insurance marketers are challenged to manage their brand presence across a number of distribution channels.
Marketing automation enables marketers to distribute highly personalized electronic newsletters to educate agent and consumer segments based on interest. Insurance marketers can deliver automated campaigns based on profile data, life events, and website behavior for immediate engagement.
Automation also helps marketers tie and track online behavior to agents and consumers; so you can analyze results and ascertain which current efforts are resulting in over or under communications of the respective members within insurance distribution channels.
3. Create highly effective communications with relevant information structured in campaigns tailored for insurance.
Like any other vertical, insurance marketers have to speak the same ‘language’ as their communities, which is accomplished with content that is segmented by target interests and branded based on the relationship.
Automated campaigns use social, profile, and website data to send communications when target audiences are most interested in a specific product for immediate engagement. Our newly released tool, Oracle Eloqua Marketing for Insurance Cloud Service includes a gallery of prebuilt best practice campaign blueprints tailored to the needs of insurance organizations. This helps insurance marketers accelerate the time to campaign launch with a wide variety of key starting points.
Check out more resources on Oracle Eloqua Marketing for Insurance Cloud tool.