How some insurers are doubling website conversion

Low touch driving high touch.

I’m currently writing an article about direct marketing contact strategy (what to say to who, when) and was reminded about one simple tactic that has helped several of my Clients including Halifax, RIAS and Nationwide.

I call the tactic using low touch to drive high touch, let me explain.

Traditionally companies have kept low cost, low touch online interactions quite distinct from high touch one-to-one interactions. Different line management, different budgets and targets etc. However increasingly it is the interplay between these media that delivers the greatest value.

For example in the general insurance market which I know very well, transactions are increasingly performed online (doubling every year in a flat market). However a disproportionate number of online users are the cash-rich time-poor people who need the convenience the internet offers. These are the very same people who offer the greatest potential value and that insurance companies most need to engage with.

By the way you should know that many general insurers make 100% of their profits from the sale of add-ons; features that can be difficult to sell online.

In this environment the web then needs to perform three roles.

  • Firstly as an important distribution channel to engage with a wide range of customers.
  • Secondly to drive down the cost of service, particularly for low value customers.
  • But thirdly, and vitally, to alert the company when high value prospects are in market so they can target them with high touch contact, such as out-bound calling.

Insurers have found that a call within 20 minutes of an online interaction is well received (because it is relevant), that it doubles website conversion to sale and increases average sales value.

Applying simple insights like this to different situations and markets can have a profound impact on marketing performance.

I’d value your input.

As I said, I’m writing an article about contact strategy and I’d like to know if you use any structured direct marketing contact strategies (multiple, complementary messages sent over time in a planned programme).

If you do can I talk to you about it?

If you don’t do you think you should be?

Just use the email me button on the Contact Me page with your thoughts

If you are interested in Contact Strategy have a look at a short case history about my recent work for Nationwide Building Society or contact me.