How Do Digital Marketing and Agent Distribution Work Together?
Other intermediated industries have lessons for insurers, says Novarica: Centralization of data, analytics, and digital assets can allow insurance marketers to engineer consistent and personalized customer journey, following leaders in Pharma, Auto, and Wealth
Boston, MA (June 2, 2020) – Like marketers in other intermediated industries, insurance marketers adopting the latest in marketing technology and digital analytics face the challenge of not owning the critical sales step in their customers’ lifetime journey with the brand. In a new report, Digital Marketing in Insurance: Lessons from Other Intermediated Industries, research and advisory firm Novarica looks to other intermediated industries such as pharma, auto, and wealth management for solutions and tactics.
“Lack of control over the touchpoints between agents and prospective customers remains the principal challenge for insurers,” said Paul Legutko, VP of Digital Marketing and Analytics, and lead author of Novarica’s new report. “It is possible for marketers at any insurer to give some thought towards digital storage, online surveys, and basic website tagging—the more basic solutions for gaining visibility into the intermediated experiences.”
Click here for the table of contents or to access the report.
Report Summary
Insurance marketers can look to other intermediated industries like pharma, auto, and wealth, for solutions and tactics that have addressed full visibility into the marketing and sales lifecycle.
Full visibility into the marketing and sales lifecycle is not often possible for marketers because agents, producers, and distributors control the final stages of the sale. This situation makes it challenging for insurers to orchestrate the customer journey, manage two-way data flow, balance intermediaries and direct-to-consumer sales models, ensure brand consistency, and measure success.
Centralization of data, analytics, and digital assets combines with thorough data collection and creative analysis to make it possible for marketers to engineer the complete customer journey in a consistent and personalized manner.
Click here for the table of contents or to access the report.
About Novarica
Novarica helps more than 100 insurers make better decisions about technology projects and strategy through retained advisory services, published research, and strategy consulting. Its knowledge base covers trends, benchmarks, best practices, case studies, and vendor solutions. Leveraging the expertise of its senior team and more than 300 CIO Research Council members, Novarica provides clients with the ability to make faster, better, more informed decisions. Its consulting services focus on vendor selection, custom benchmarking, project checkpoints, and IT strategy. For more information, visit www.novarica.com.
Source: Novarica
Tags: independent agents, Novarica
Read the original article at Insurance-Canada.ca