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4 Marketing Strategies for Life Insurance Companies

Category : Insurance Marketing Author : Team Amura Date : 11 Sep 2020

The life insurance industry, which used to be a predominantly face-to-face industry, has witnessed many changes after moving onto the online platform. The marketing strategies which worked wonders a decade ago might be inadequate in today's environment. Hence, it is crucial to come up with novel marketing ideas to lure in new customers.

You will find multiple articles online, which will boast of assisting you in framing up effective life insurance marketing strategies. However, very few of them will succeed in doing so. We have kept this article as concise as possible and tried to convey an impactful message that will help you come up with varied life insurance marketing ideas.

In today's hyper-competitive industry, your firm needs to have a competitive advantage to survive and thrive. This competitive advantage will put you in the top spot for adults seeking a life insurance policy. However, to accomplish this, a single campaign will not suffice. You will have to come with an array of ideas or ways to form up one comprehensive strategy.

Insurance marketing companies can assist a lot to help you form insight-based actionable life insurance marketing strategies. We have collated a list of useful life insurance marketing ideas, which will help you reach a wider audience and gain a more extensive customer base. These strategies will also help you retain your existing customers, differentiate your brand from your competitors, and attract new policyholders.

Insurance Marketing Strategies

You first have to break through the brick and mortar holdings and take onto an online platform to gain lifelong customers. Today, customers have a humongous amount of information at their fingertips and often conduct thorough research before choosing any business or commodity. These customers also wish for seamless, sophisticated, and instant shopping experiences. Customers today expect the same seamless shopping experience in insurance policies as they would have in buying new apparel devices on any other platform. Here is a list of impactful life insurance marketing ideas to help your course through this age:

  • life insurance marketing ideas

    Set up your insurance website

    Insurance marketing campaigns often create a massive impact via your company website. Your website is often the first channel wherein policyholders interact with your company. As per a recent research study by Deloitte, around 75% of customers will judge your insurance company's credibility based on how the website appears and works. When customers do not communicate with what they see on a website within 10 seconds of landing, they will be switching to a different company.

    Interesting: Selling Insurance Online: Challenges & Opportunities

  • life insurance marketing strategies

    Invest in SEO

    The policyholders need to be able to find you to interact through your website. As per Deloitte's 2020 insurance industry outlook, 93% of online encounters start with a search engine result. Bearing this in mind, you should somehow get to the peak of the search engine results page — a majority of the people will not move past the first three organic search results.

  • Create a blog

    A majority of the insurance marketing companies emphasize the importance of a blog. Blogs not only assist in creating a higher influx of customers to your website, but also press your authority on certain subjects, and build trust with consumers. A blog also helps transform your insurance company into a universal resource for all things related to insurance. Blog posts also help consumers immensely to research varied products and services. As per a recent research study by Forrester, an average consumer reads 11.5 pieces of content before making a purchase decision.

    You might like: How to Leverage Content Marketing for Your Insurance Brand?

  • Create compelling video messages

    Video marketing is the future of conveying your message to consumers effectively. Forrester's research study has conveyed that consumers spend a minimum of 6 hours on viewing videos per day. This finding is not just restricted to B2C. The research study further suggested that approximately 75% of the B2B marketing professionals perceive videos to impact marketing campaigns positively. Here a few video marketing ideas to help you get started:

    • Depict your commitment to society
    • Highlight testimonials from policyholders
    • Create informative videos
    • Utilize Social Media Channels

    As per the findings in the studies mentioned above, approximately 90% of the insurance organizations have some social media marketing campaign in place. However, most of these organizations do not measure the Return On Investment (ROI) of their initiatives. This is a big mistake that a majority of the organizations commit. You cannot post random content on social media channels and expect your sales chart to rise. Hence, you must post finely curated content on social media channels, which will help you gain a larger customer base.

How to start an effective life Insurance marketing plan?

Initiate the digital marketing plan for your Insurance company by conducting a digital competitive analysis. This strategy will help you find out what insurance marketing prospects your competitors are reaping the benefits of, and what you require to outplay them and expand your business. With an effective digital competitive analysis, you will get a framework of the marketing strategies that are of utmost importance to your organization.

There are a plethora of providers in the market who claim to supply effective marketing services. Yet, not all will be best suited to your needs and requirements. However, among the numerous insurance marketing companies, Amura is one such market player that considers your concerns and then provides you with a solution. Amura invests time and resources to thoroughly understand your business model to give you the best possible solution.

Of course, there are numerous other tools and providers available in the market. However, it is advised that you conduct thorough research before opting for any of these marketing service providers. A research-backed decision will help you land onto a more suitable platform for your business needs and requirements.

Get Started: To know more about marketing strategies for life insurance companies, get in touch with our Insurance marketing experts at vikram@amuratech.com

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