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Understand Marketing ROI for Your Insurance Organization with a Robust Toolset
Marketing is a fundamental component of businesses of all types and sizes, as it is the messaging that introduces your brand to the world. One of the most fundamental factors of successful marketing comes in the form of ongoing analysis and understanding of your insurance organization’s marketing campaign performance. The ability to identify what is working, what isn’t and how ongoing campaigns can be optimized is a differentiator between businesses that thrive and those that do not.
You can avoid letting your marketing campaigns run on autopilot by using a variety of tools to help you optimize campaigns and increase ROI. Some of these tools include:
- Campaign Tracking: Odds are, you have a number of ongoing marketing campaigns that are run through various channels based on your target audiences and their behaviors. Campaign tracking allows you to identify how users discover your brand and which campaigns are effective. The ability to track where insurance leads originate will ensure you aren’t missing out on additional opportunities with your highest performing campaigns.
- Lead Nurturing: It’s not enough just to generate leads. With products as complex and important to the client as insurance, it’s imperative you nurture leads along the sales cycle to not only educate but instill trust. Automating some of the nurturing portion of the sales cycle and warming these leads will set your sales agents up for success when it’s time to discuss plan options and next steps with the client.
- Real-Time Reporting: The ability to track insurance leads in real-time and understand what source provided them will enable your sales team to make more informed contact with the prospect. For example, if the lead came in through a Google search, knowing the keyword that drove the lead will provide insight into what the prospect was researching. This lead may not have any familiarity with your brand so it’s important to know that. Or if a lead came in via an email or direct mail campaign, they likely do have some familiarity so the sales rep doesn’t need to spend as much time with an introduction. Look for solutions that allow for this level of campaign tracking and put more intelligence in the hands of your agents.
- Business Intelligence: With the right BI tools, you should be able to set your internal KPIs and understand your acquisition costs by channel. More sophisticated solutions even allow for collecting and analyzing data to develop purchasing profiles that will help navigate future marketing campaigns.
These are just a few of the many important concepts to keep in mind when marketing your insurance organization. Ensuring your business is equipped with the proper tools to not only increase leads, but fully understand the performance of each of your marketing campaigns, will lead to maximum growth., efficiency and profitability.