Data is Key in Building Your Brand
By: Denise Hopkins
During an economic slowdown and subsequent recovery, it’s important to build your brand. Connecting with prospects and current policyholders will build their confidence in your brand and your credibility, ultimately leading to stronger relationships and improved revenue potential once economic conditions improve.
To build your brand, engage policyholders with messages that are relevant in order to enhance and solidify your relationship. Doing so will empower policyholders to become loyal brand champions for your business in an increasingly cluttered and competitive media environment.
Use data to gain an accurate picture of policyholders, prospects and their unique situations. Economic challenges can change consumer opinions and situations dramatically. Learn about their expectations and what is important to them, and then build engaging and relevant messages. The result will be an offer or message that speaks directly to the recipient.
Using your policyholder data to analyze and segment your database will provide you with greater insight and help you see new behaviors emerge. This expanded perspective will help you adjust your campaigns, messages and offers accordingly for various segments. For example, a consumer who recently purchased a home will have new insurance needs and is likely to purchase a product such as homeowners insurance versus an individual who has been in their residence for some time. Relying on data intelligence and analytics for insight and targeting also helps better align your marketing offer to the prospect’s need. Focus on improving customer segmentation and sending effective one-to-one communications through creative and well-planned efforts.
Weave in online and offline messages which build compelling, engaging and personal experiences into your communications, and drive more consistent and persistent messaging. By integrating your channels to communicate with policyholders through different media, you’ll reach them at different stages of the buying cycle. One-to-one marketing is increasingly important when trying to drive more personalized, relevant and targeted communications. Sending the right offer to the right prospect, through the right channel, at the right time is the key to delivering a successful cross-channel marketing offer.
Also consider assessing your product offering and your policyholders’ needs and tailor as appropriate. Begin by asking your customers what they need from you. Companies who engage with and respond to customers during a slowdown will build their reputation and brand. Plan ahead, and if warranted, revise your customer interaction strategies.
Brand building begins by engaging your policyholders with messages and solutions that are relevant to their situation. Using data to better understand your marketplace will help you best position yourself for success in any economic environment.
Denise Hopkins (denise2@experian.com) is the vice president of marketing and product development for Experian Marketing Services.
Carrier Branding Connection: Central Insurance
Consistency and simplicity are the cornerstones of Central Insurance’s branding strategy. While the Van Wert, Ohio-based company continually updates its Web presence and the marketing resources available to its agents, its logo and branding message have remained simple and largely unchanged for years.
“Being a regional carrier, it takes awhile to get brand recognition going,” says Edd Buhl, Central’s senior vice president of marketing. “We feel we do have good brand recognition, especially with our agency force.”
Central’s tagline reads, “fulfilling the promise since 1876,” while its logo displays a simple, unmistakable block letter “C.”Buhl says both messages are consistent and easy to apply to a variety of materials. He adds that the Trusted Choice® logo serves a similar purpose for Central’s agents, who can customize brochures and policy forms to include the Trusted Choice® logo and even the Trusted Choice® Pledge of Performance.
“We have policyholder newsletters that include the logo and explain what Trusted Choice® is,” says Buhl. “If our agents quote a homeowners policy, they can do an electronic proposal and can pick and choose among different brochures. We have the Trusted Choice® logo on all the brochures.”
Finally, Central makes it easier for customers to find Trusted Choice® agents by including the logo on its agency locator. Buhl says that like his company’s longstanding, recognizable logo, every application of the Trusted Choice® brand builds its recognition among customers.
“If we’re only doing business with independent agents, (Trusted Choice®) is the brand we really want to get behind,” he says.
—Veronica DeVore
To build your brand, engage policyholders with messages that are relevant in order to enhance and solidify your relationship. Doing so will empower policyholders to become loyal brand champions for your business in an increasingly cluttered and competitive media environment.
Use data to gain an accurate picture of policyholders, prospects and their unique situations. Economic challenges can change consumer opinions and situations dramatically. Learn about their expectations and what is important to them, and then build engaging and relevant messages. The result will be an offer or message that speaks directly to the recipient.
Using your policyholder data to analyze and segment your database will provide you with greater insight and help you see new behaviors emerge. This expanded perspective will help you adjust your campaigns, messages and offers accordingly for various segments. For example, a consumer who recently purchased a home will have new insurance needs and is likely to purchase a product such as homeowners insurance versus an individual who has been in their residence for some time. Relying on data intelligence and analytics for insight and targeting also helps better align your marketing offer to the prospect’s need. Focus on improving customer segmentation and sending effective one-to-one communications through creative and well-planned efforts.
Weave in online and offline messages which build compelling, engaging and personal experiences into your communications, and drive more consistent and persistent messaging. By integrating your channels to communicate with policyholders through different media, you’ll reach them at different stages of the buying cycle. One-to-one marketing is increasingly important when trying to drive more personalized, relevant and targeted communications. Sending the right offer to the right prospect, through the right channel, at the right time is the key to delivering a successful cross-channel marketing offer.
Also consider assessing your product offering and your policyholders’ needs and tailor as appropriate. Begin by asking your customers what they need from you. Companies who engage with and respond to customers during a slowdown will build their reputation and brand. Plan ahead, and if warranted, revise your customer interaction strategies.
Brand building begins by engaging your policyholders with messages and solutions that are relevant to their situation. Using data to better understand your marketplace will help you best position yourself for success in any economic environment.
Denise Hopkins (denise2@experian.com) is the vice president of marketing and product development for Experian Marketing Services.
Carrier Branding Connection: Central Insurance
Consistency and simplicity are the cornerstones of Central Insurance’s branding strategy. While the Van Wert, Ohio-based company continually updates its Web presence and the marketing resources available to its agents, its logo and branding message have remained simple and largely unchanged for years.
“Being a regional carrier, it takes awhile to get brand recognition going,” says Edd Buhl, Central’s senior vice president of marketing. “We feel we do have good brand recognition, especially with our agency force.”
Central’s tagline reads, “fulfilling the promise since 1876,” while its logo displays a simple, unmistakable block letter “C.”Buhl says both messages are consistent and easy to apply to a variety of materials. He adds that the Trusted Choice® logo serves a similar purpose for Central’s agents, who can customize brochures and policy forms to include the Trusted Choice® logo and even the Trusted Choice® Pledge of Performance.
“We have policyholder newsletters that include the logo and explain what Trusted Choice® is,” says Buhl. “If our agents quote a homeowners policy, they can do an electronic proposal and can pick and choose among different brochures. We have the Trusted Choice® logo on all the brochures.”
Finally, Central makes it easier for customers to find Trusted Choice® agents by including the logo on its agency locator. Buhl says that like his company’s longstanding, recognizable logo, every application of the Trusted Choice® brand builds its recognition among customers.
“If we’re only doing business with independent agents, (Trusted Choice®) is the brand we really want to get behind,” he says.
—Veronica DeVore
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