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HAVE YOU ADOPTED THE BEST MARKETING APPROACH FOR YOUR

INSURANCE COMPANY ?

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Have P I X You E L SAdopted U T R AThe Best Marketing Approach For Your Insurance Company?

Introduction As an insurance company, you face two major challenges. One, your prospects may not realize the importance of insurance and two, you don’t have a tangible product to showcase to them. You can solve both these problems by slightly modifying your marketing approach.

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Videos are better than visits When you try to approach your prospects through pamphlets, calls or personal visits, most of them are reluctant to have a discussion or give their precious time. So, how do you inform them that they need your insurance? Reach them through videos! This is no news that videos are making waves on social media. They are shareable, engaging and easy to recall. They explain the concepts visually and are way more interesting than discussions. Plus, people can watch videos whenever they have time, with no one invading their privacy.

h t t p s : / / www.youtube.com/ w a t c h ? v=zlXJvUN_Hm0 Isn’t it the easiest way to tell people that they should start saving for their older self? Explainer videos are the best choice if you want to put your point across in a simple way. Moreover, animation can turn your most creative thoughts into reality and make it fun to watch.

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Have P I X You E L SAdopted U T R AThe Best Marketing Approach For Your Insurance Company?

Nail it like AXA If you want to make your video more credible, go for infographics. AXA used a video(below) to inform the viewers that performing the home repair/renovation work on your own may seem inexpensive but it involves great risk.

The video is not at all sad or scary, rather it contains some peppy background music. Towards the end, the video asks you to check your home insurance for a damage-cover. It also contains a link to the website (call to action) in the description.

h t t p s : / / www.youtube.com/watch? list=PLjBaytfcLTSO4MsUO VvaoEQtjecvGvaQo&v=5 wPeQai1rCU Did you notice that the above video was more concerned about the viewer’s safety rather than forcing them to buy an insurance? Always remember that your prospects are very smart and they are least interested in a communication aimed at directly selling your products. Instead, you can run some interesting campaigns to involve them. The Balloons Experiment by Prudential was a brilliant way of explaining the importance of saving.

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Productive workforce is equally important You should share videos of such campaigns to further expand your reach. As an insurance company, you need to educate not just your customers but your employees too! Training videos can prove to be quite effective and costefficient for you. You can also attract good talent and create an image of a thoughtful employer through videos. Liveaction videos are excellent for adding an emotional appeal to your message.

h t t p s : / / w w w. y o u t u b e . c o m / w a t c h ? v=vVRn6BS0r4w Make your social presence felt You can reach your target audience easily through social media. Make sure you have a strong presence on Facebook, Twitter, Linkedin, Youtube etc. You can create a campaign that can be run on all your social media channels.

Let’s explore out how Allianz stays connected with people. They posted “Allianz Arena will be going dark in support of climate change action” on their Facebook page and “#Allianz supports #EarthHour tomorrow! Are you?” on Twitter. They also shared a video on youtube regarding the same. Social media is an excellent medium to share CSR initiatives, corporate films, testimonial video etc. AXA met two goals with the following video.

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Have P I X You E L SAdopted U T R AThe Best Marketing Approach For Your Insurance Company?

The art of Engaging Nowadays, you need two-way communication to keep your fans & followers engaged. Recently, Allianz had posted something regarding the Australian Grand Prix, “Excited? Show us with your best emojis”. You too can think of some innovative ways for encouraging your prospects to participate in your campaigns. You can also email gif’s on festivals or warm greetings on birthdays. A little bit of effort can result in long-lasting relationships with your customers.

Keep an eye on the calendar

Keep an eye on important events and days and launch relevant campaigns so as to increase your visibility. For example, Allianz supported Paralympics 2016, they also shared a video of their employees taking the Mannequin Challenge just for the sake of sharing some fun moments. AXA ran a Mother’s day campaign which was a chance to win a three month Bloom & Wild Subscription for some lucky participants. To enter the campaign one had to like AXA on Facebook or follow them on twitter.

Another amazing campaign from AXA, Liveboldly encourages people to live life to the fullest and try new things…knowing that they are protected by AXA.

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Don’t forget ‘Mobile’ By now, you already know that you need videos and social media presence to communicate with your target audience. Also, make sure that all your web content is compatible to mobile viewing, including your website! Make your website as attractive and easy to navigate as possible. Ensure that your customers have a smooth experience all the time, while inquiring about something, filling forms or anything else. A speedy and hassle-free experience can be a major deciding factor for your customers. Accenture thinks that chatbot style customer service processing is going to be quite popular in future.

The miracles of AR and VR Let’s explore the future(and the present) of your company’s marketing. Well, we are talking about augmented(AR) and virtual reality(VR). These two technologies and their innovative applications continue to exceed our expectations. Consulting firms like KPMG and TCS, have highlighted the importance of AR & VR in the insurance industry.

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Have P I X You E L SAdopted U T R AThe Best Marketing Approach For Your Insurance Company?

AR is a great tool for educating people and generating need. AXA had published an innovative print ad to promote its app. The ad became interactive when viewed through the user’s phone camera. It was attention-grabbing, short and entertaining. You can watch the brilliant ad here. AR can help insurance companies in myriad ways- training people about the possible hazards, performing a risk inspection or a damage assessment through image processing.

Yes, AR can help you assess the amount of damage occurred and estimate the repair cost! Your customers will thank you for a faster and convenient processing. You can also adopt AR to educate the users. Desjardins insurance used a cute character Penny, to educate people about the benefits of saving for their retirement. Penny comes to life whenever a device scans her image.

h t t p s : / / vimeo.com/ 104343075 Desjardins – Yourway Augmented reality from Merchlar on Vimeo.

Virtual Reality can prove to be a boom for insurance industry. Your agents can test the applicants through a simulated driving test and can decide a suitable auto-insurance policy for them.

Remote site inspections can also be carried out with VR. Metlife has recently launched a Virtual Reality customer service platform named conVRse. It features a virtual life insurance expert, i.e. an avatar named “Khushi.”

You can invite people to experience certain situations in the virtual environment, for instance, how it feels when a car crash occurs. An immersive experience can be very effective in making people realize the importance of safety and insurance. You can also leverage VR to let the accident victims learn some exercises for a speedy recovery.

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h t t p s : / / www.youtube.com/ w a t c h ? v = LL2UYT3Upc There is a lot of untapped potential for insurance, especially in developing countries. Stay abreast with the industry foresights, work with a team/agency that bring out-of-the-box ideas on the table and be consistent in your efforts; and we assure you that the investments in the above mentioned marketing approaches will be worth every penny.

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For more thought provoking articles on Design, Marketing and Interactive Experiences, do check us out on pixelsutra.com/blog

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