The agency channel dominates the US property and casualty market, so any efforts on an insurer’s part to use engagement marketing will rely on buy-in from its agency partners. For agents in particular, a critical piece of engagement marketing is the ability to nurture customers who are not yet ready to make a purchase. They need a consistent, disciplined process to develop these leads until they are sales-ready: lead nurturing.
Lead nurturing and the ongoing customer dialogue
Lead nurturing and engagement marketing have much in common. To maximize the value of a lead, agents need customer insights that enable them to develop a personalized, targeted relationship. Further, marketing automation software can help agents maintain an ongoing dialogue—for example, by following up with targeted messages or offers—and ensure consistent messaging.
Just as engagement marketing depends on an insurer’s data and analytics capabilities, lead nurturing requires agents to analyze lead conversion data to determine their most effective messages and processes. For insurers, this means helping their agent workforce to develop data analysis skills. As the Accenture Lead Management Cycle shows, demand generation, lead scoring, lead nurturing, lead distribution and pipeline optimization are all part of a continuous cycle that agents must proactively manage to drive sales performance—and analytics are an important enabler of these capabilities.
Lead conversion data isn’t just important for agents—it’s tremendously valuable to insurers. For an insurer that has spent considerable time and resources on an engagement marketing campaign, lead conversion data from the agent level can close the loop and help them optimize subsequent campaigns.
- Read “Engagement Marketing in Insurance: Cultivating customer loyalty (PDF).”
- Read Engagement marketing in insurance, part 1: Connect with customers.
- Read Engagement marketing in insurance, part 2: Marketing data and analytics.
- Email me to discuss how Accenture can help you train and develop your agents to nurture leads.