Progressive Insurance aired its 100th ad in November 2014, starring Flo. You must have caught a glimpse of Flo the salesgirl, with her unwrinkled white uniform and retro hairstyle. Boston Herald referred to her as “the commercial break’s new sweetheart” back in 2009. The public loved this iconic character. The most amazing thing about Flo was the fact that she was completely fictional.
The idea of using a fictitious female salesgirl was presented by a Boston-based agency called ‘Arnold Worldwide’. She made the brand of Progressive achieve greater heights of success.
Stephanie Courtney, a comedian who gave color to the upbeat employee persona of Flo, played her character. Her Facebook page has 48, 91915 likes and this popularity benefits Progressive directly. This is the power of good marketing. It opens new avenues for any kind of business that tries to attempt it.
The auto insurance industry is in demand right now, because millennials think it is better for them to be insured in order to stay in good shape. These millennials are growing in population and age, and soon enough the demand for more innovation in the auto insurance industry will rise.
Facebook, Twitter and Instagram seem to have a greater impact on a millennial’s mind than the traditional TV ad. That’s why, more characters like Flo emerged in the insurance industry to bag more customers. Now we seem to have a competition between Flo, the Allstate Mayhem Guy, GEICO Gecko, Aflac Duck and many more. That’s where automation comes in.
Marketing, especially in auto insurance business is not easy. Insurance companies using marketing automation sell 20% more policies per producer and 10% more per household.
In addition to that, agencies that spend more than 15% of their revenue on marketing generate twice as much revenue from nonstandard auto insurance and three times as much from life insurance than from commercial insurance. This is one of the findings of Velocify, which surveyed more than 1,500 insurance companies to check their marketing strategies. So, how exactly are these companies using marketing automation to improve business?
To hit the road, one needs an automobile and an insurance plan. Let’s say a company has 1,500 clients and out of these, 5 have birthdays in the coming week and 3 in the week after that.
One client was recently promoted and 6 clients spent a year with the company as loyal customers.
Now, you can’t ask Bill or Sally from the office to remember and mail all these people at all these different times. This is where marketing automation makes the job easy.
You can personalize the experience for each client, and it takes no more than a few clicks to schedule emails to send out at different times. Customers receive the mails when it matters the most, and feel happy that their insurance company not only takes care of their cars, but also their birthdays.
Personalization is a strong tactic in marketing and auto insurance companies avail its benefit via marketing automation.
When people get into business with an insurance company, it is a formal matter for them. The well-being of their cars depends on their insurance plan. That’s why, they require prompt responses when they approach the company with a query.
Automated responses help in keeping this relationship strong and don’t make the customer feel ignored. Let’s say you have a couple of big events coming up. Sending out automated invites to your customers is a good idea.
A week before the event, you can send out reminders as well. Timely communication always seals the deal in the insurance industry.
The strength of marketing automation isn’t apparent only in the emails. Companies also get new customers via this strategy. Let’s take the example of the company with 1,500 clients.
600 of these are house insurance while 400 are auto insurance clients. Now, automation provides you the perfect opportunity to pitch to the house insured clients for auto insurance and vice versa.
A couple of customers can be made this way. Automation makes it so easy to identify specific targets so you can work towards achieving them.
With more than half of the US population is using their smartphones for daily tasks, auto insurance industry sure needs some mobile innovation as well.
It’s a huge advantage to provide the insurance customers with a website and online transaction options. Helpline and many other features are automated to serve these customers better.
For customers who want something more than a website experience, there are plenty of mobile applications of auto insurance agencies that carry all the necessary information.
Applications make jobs even swifter. However, it is advisable to check the website for mobile usability as it improves customer retention and SEO as well.
When it comes to Auto Insurance, the whole point of making an insurance client is to make them stick longer. Auto businesses lose clients when they don’t pay attention to the retention part. The Velocify survey also found that companies spending more than 15% on marketing automation got a retention rate of 81%.
This is an important statistic, because big businesses like to keep the deal secured at both ends of the customer journey. “If you invest heavily in marketing and focus on retention, you have the greatest opportunity for growth,” the report suggests.
Using Social Media:
Whether you like it or not, the rise of social media is very good for marketing your business. Your clients use social media, and you can too. Just like Flo is gathering new customers from the Facebook page and Gainsco is making auto insurance look cool through their YouTube profile, other insurance agencies can also use the power of social media to spread the word. Every social channel now has options for automation, and businesses use it to schedule future posts and respond to their clients effectively.
Automated marketing is a fantastic tool for insurance providers, but keep in mind that you have to use it in moderation. You have to keep in mind the retention part of the equation if you aspire to keep loyal customers.
The wide variety of tools available online make it easy to automate tasks and take some daily burden off your shoulders. As long as there is a need for automobiles, there will be a need for auto insurance, so make sure your business is well-aware of the tech trends and every department of your company applies the practices based on those trends.