Sunday, June 1, 2008

Let's Make Insurance Product Marketing More Personal

Since I have an insurance license, every couple of weeks I get some big package in the mail from some random insurance carrier. It usually cost the carrier about $4.80 to mail and I’m willing to bet, especially for the last one I received, anywhere from $5 to $10 to print (the last one was really nice). My first thought is, “Wow. Someone just spent close to $15 to market their insurance product to me and they don’t even know me.” They usually get my name and address from some list they bought.

So what do I do? Well, I usually take a quick look at the material and skim the cover letter. I usually give it at least that much attention because I am an insurance marketing strategist and I am interested in how other people market insurance products. My next step after that is to usually pitch it into the recycling bin. Then I usually wonder how many of these product promotions go into the trash and wind up in a landfill. It makes me a little sad to tell you the truth. Sorry, I’m here to focus on insurance marketing and not saving the environment. Let me get back on track.

Is this “spray and pray” marketing really effective? To me it’s kind of the equivalent of randomly meeting someone on the street and offering a marriage proposal all at the same time. Call me old fashioned, but where is the courtship? What about letting me get to know you and building a relationship? After all, isn’t marketing and sales about relationships?

I have a problem with this type of marketing and producer recruiting. One, I think it is overwhelming to the recipient. How is someone supposed to digest all that information all at once – and why would I want to? And, honestly, if I have that much time to review all that material I’m probably not setting any sales records. Two, I believe it is very impersonal. You have to have a pretty big marketing budget for that kind of marketing. Why not use that marketing budget more strategically? There are so many options to create a marketing strategy that can be viewed by your audience more effectively and seen as being more personal.

As attention spans get shorter and shorter we should all be looking at ways to engage our audience in a way that makes them feel like they are the only person we are communicating with at that time. The communications can be concise, targeted, economical, and still get our point across.

What are your thoughts? Click on the “add comments” link below to share your thoughts.

No comments: