Culture and Leadership
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Data and Audience
Real World Stories
In our Anatomy of a Solution series, we take a look at some direct challenges and disruptive solutions that Amsive has driven for clients. This week, we take you through how our demand gen expertise turned around diminishing response rates for a long-lasting insurance client.
Insurance companies need the right tools to identify and verify the right prospects and customers — this is exactly the mindset we brought to a campaign for a national property and casualty insurance carrier that aimed to amplify its acquisition strategy.
The carrier’s marketing previously relied heavily on affinity audiences through partnerships with employers, vehicle manufacturers, and alumni associations. Although they targeted millions of consumers from those audiences through episodical campaigns, their goal was to expand more in the open market and increase quote activity for auto, home, or bundled insurance.
The carrier approached Amsive to test and deploy a new demand generation strategy. Our focus was to identify qualified prospects and target them with personalized insurance offers to drive quotes.
The carrier wanted to find a way to expand its prospect pool beyond its affinityiAffinity marketing is when one business partners with another to provide products or services in exchange for access to a new market. The two brands work together to promote this mutually beneficial campaign that if executed properly, can expose both entities to new audiences. Simply put, it's the opposite of competitive marketing, so instead of positioning your brand as b... Read More audiences, as well as ensure high-quality incremental leads that were responsive to insurance offers. To meet the carrier’s objectives, Amsive worked within our strategic framework, took a bottom-of-the-funneliIn the marketing or sales funnel that illustrates the customer journey, the bottom of that funnel is where a company wants its leads to be. This is the action-taking step where leads are converted to customers. As a prospect completes their journey from awareness to interest and finally down to consideration, this is where you engage in action-based activity and drive home... Read More approach, and built a solution utilizing prescreen insurance triggers.
At the initial outset of the client relationship, prescreen insurance triggers were not on the carrier’s radar. These prescreen insurance triggers are daily credit bureau-sourced leads. All consumers have a known need and were either actively quoting for insurance from competitors or applying for financial products like loans or credit cards. Consumers who passed established credit selection criteria were solicited with a relevant offer at the most opportune time.
Amsive worked through a credentialing process, demonstrated our adherence to Fair Credit Reporting Act (FCRA) requirements, and outlined a solid execution strategy. With buy-in from the carrier’s marketing and risk teams, we moved forward with the recommended program.
Getting data is one thing, but how you use the data and how we execute this type of program makes all the difference. We leveraged data insights from the prescreen insurance triggers program to develop our audience, channel, and messaging strategies in the context of Amsive’s strategic framework:
Amsive’s prescreen insurance triggers program helped amplify acquisition for the carrier, with whom we have since developed a long-lasting partnership. Below is evidence that, when comparing KPIsiKey performance indicators, or KPIs are important measurements that are used to gauge the efficacy of a marketing campaign. For example, is the goal of a certain marketing campaign to convert leads? gain social media followers? get subscriptions to a newsletter? At the onset of a marketing campaign, it's important to determine what your barometers for success are, so that ... Read More to similar campaigns, our new demand generation strategy achieved: