Insurtechs, digital-only attackers, and ecommerce players have been gaining momentum in the insurance industry. But there's a new kid on the block that could actually help these big names out - personalization marketing!
A few years ago, no one would've thought about using technology like this, but now it seems to be catching onto more people every day with its effectiveness at targeting customers' needs.
When you think about insurance, what do you think of? Assurance!
And assurances are a personal emotion. It means you can take a risk thinking that the risk is covered. The same goes for car insurance.
When you are a policyholder, you remember that your car is insured, and you can drive the paths you want with an assurance that your car is well taken care of!
So, such insurances should be marketed personally, too.
And that's why video personalization works so well in the car insurance industry.
In this post, we'll explore some ideas for using video personalization for car insurance sales to target different audiences and create more engaging experiences for your policyholders or prospecting policyholders.
Let's get started!
Why Should You Bring the Personalization Element in Your Car Insurance Sales?
Personalization reaches customers with a targeted message, offers, and pricing at the right time! However, no two customers are alike, and hence a bulk email campaign or undifferentiated marketing campaigns won't work in today's "customized to customer" world.
Everything is being customized to suit the customer's needs, and hence a change should be brought about in traditional sectors like car insurance. It brings a refreshing change in conveying marketing efforts, thereby retaining your clients.
Did you know that personal auto insurance in the US could get an additional $2 billion if they retained 10% of $19 billion in direct premiums?
With the wealth of customer information, customer buying trends, personal details & patterns, and data, today's marketers can design various personalized campaigns to retain clients or get new clients onboarded.
One such marketing tool that proved to work time and again is a personalized video!
Personalized Video Marketing Disrupting the Car Insurance Industry!
- Personalized videos can reach the target audience with a powerful message designed just for them!
- You can run unlimited campaigns with different messaging to every individual with a personalized video that improves your customer acquisition rates drastically.
- You can cross-sell, re-sell/retain your existing clients to churn that revenue.
- Personalized marketing has shown significant growth in terms of revenues and customer satisfaction by 5 to 10%
- Personalized video reduces customer acquisition costs.
- With customer data and trends, you can design customized offers and targets specifically.
How to Use a Personalized Video in Car Insurance Sales?
When prospects are shopping around for car insurance for their new car or to renew for their old car, they are looking for unique services that meet their specific requirements.
You can bring personalized video into action by:
1. Welcoming the Prospect by Their Name
You can make your Insurance Agency stand out from the rest with a personalized video.
It's one thing to send an automated message, but by adding in some personalization and making it feel like you're talking directly to them.
Prospects are more likely to open the email or any communication mode you send when it says "Video" & "personalized" words mentioned in it.
Here is an example of a car trading video:
2. Send Reminders About Insurance Expiry
Wouldn't you be thrilled if you received a video that is addressed to you personally from insurance brands that are addressed to your name and remind you about your insurance expiry?
And more to it, suggest a few policies that meet your requirements?
For example, your video script could go like this:
'Welcome {Name} to {Brand} Insurance!
I'm so glad you've found this video in time!
We want to remind you that your policy is due for renewal this {date} {month}
We would take the freedom to recommend some policies for you.If these are not something you like, we have just one question: What type of coverage do you want?
We have great options here at {brand} insurance. We would love to chat!
This kind of personalized video not only makes them feel welcomed but also creates an intimate experience that builds rapport.
Also Read: Top 9 Engaging Video Personalization Ideas For Education Industry
3. Explain the Types of Car Insurance Policies Available
Create educational videos that will teach potential clients about their options for car insurance policies.
Create a video series explaining the ins and outs of each type, including how expensive they are and why you might choose one over another based on your needs as well
A great way to find new customers is by creating informative content with a marketing appeal-like. These quick tutorials are a great marketing strategy!
4. Educate on Policy Features and Claims
Interactive videos are a huge success wherever used. They build a 2-way communication and also allow us to educate prospects at the same time.
Create interactive videos to educate your prospects on the policies they may be interested in and get them excited about how much more affordable car insurance can be with this company.
Using dynamic and exciting formats will keep your audience engaged. With entertaining content that educates on policy features as well as claims handling from an independent perspective, you're sure to see increased conversions for years!
5. Customer Testimonial Video
The customer testimonial video for car insurance is a great way to show how satisfied your customers are with the service they received. This type of marketing tool also provides an opportunity that you can't resist: A chance at conversion!
Be sure not only to include moments when people speak about their positive experience but consider capturing footage from behind-the-scenes as well so viewers know what goes into making these wonderful moments.
Add personalized elements like addressing the message on an individual user's name by using video personalization technique.
6. Process of Claims
We all know how difficult it is to get car insurance. But the process becomes even more complicated when you're trying to find a company that offers good service at affordable prices.
This in turn leads many customers down an endless cycle of frustration until they give up and go with someone else because no one wants their hard-earned money wasted on bad policies!
You can make videos explaining the processes of making claims easier. Your prospects and customers are sure to thank you for your efforts and add personalized elements to your video.
7. Provide Information on Highway Help & SOS
Common information is not so commonly available these days, especially during crises.
So, make a video for your prospects/audience to save, on highway help and how to get help when in a tricky situation and share it with your prospects.
You can make a standard video on all the above ideas and personalize the video to every individual recipient by including customized/personalized elements like the user's name, car model or make and policy name.
This attempt will make your prospects remember you and come back to seal the deal.
8. Create Event Invites Via Video
You can also create a video inviting your prospects to attend insurance conferences and events to meet them in person and provide an even more personalized experience.
The Beginning of a New Era of Marketing in the Insurance Industry!
The blog might end here! But it definitely is the beginning for the amazing results the magic of personalization, especially via video can bring to the insurance sector!
With the key takeaways and suggestions in the blog, make amazing personalized videos for your prospects/clients and get those revenues flowing.
Personalization is still in the nascent stage in this sector, and be an early adopter of marketing tools and technologies to have a fast early movers advantage!
Talk to us to create hundreds and thousands of personalized videos !
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