Other parts of this series:
In the evolving, increasingly digital consumer marketplace, insurers have to provide a superior customer experience to differentiate their products and offers from the rapidly growing number of competitors.
According to Accenture’s 2016 marketing survey, the most successful marketers across all industries are those abandoning conventional marketing tenets and turning to just-in-time (JiT) marketing strategies instead. Our survey found JiT marketers were three times likelier than their peers to show a growth rate of 26 percent or more in the last three years.
JiT marketers navigate the evolved marketplace remarkably well, thanks to their greater marketing agility. They are more focused on, and adept at, reaching the right consumers through the most appropriate channels with messages that resonate at the most opportune moments.
Our survey found that 60 percent of JiT marketers are very satisfied with their ability to target only in-market customers, and 60 percent are very satisfied with their ability to deliver the right message at the right time.
In comparison, approximately 40 percent of conventional marketers are satisfied with their ability in both areas.
This dissatisfaction in two key areas on the part of conventional marketers shows that traditional strategies are no longer adequate.
In order to proactively engage customers, insurance chief marketing officers (CMOs) should consider adopting these JiT marketing strategies:
Personalize and customize content that is relevant, meaningful, and compelling on a real-time basis to respond to customers’ changing demands and liquid expectations.
Tailor the content across multiple channels: Digital is important, but finding the right channel that customers prefer is key.
Find partners that will augment and expand your offerings. Participating in this ecosystem will make insurance solutions more compelling and play a more active and engaging role in customers’ lives.
To learn more, register to download the report: Bolstering the effectiveness and efficiency of your insurance marketing strategy