Insurance customer signals that drive marketing, sales
Behavioral cues help insurance professionals and sales teams stay ahead in a competitive landscape.
In the fast-paced world of insurance, engaging with customers at the right moment can make all the difference.
Customer signals indicate their readiness to shop, helping insurers target marketing efforts effectively. Particularly in homeowners and auto insurance markets, these behavioral cues help insurance professionals and sales teams stay ahead in a competitive landscape.
Insurance customer signals
No. 1: Online research and information gathering. The modern customer is tech-savvy and relies heavily on the internet to gather information before making any purchasing decisions, including insurance coverage. When a customer is ready to shop for homeowners or auto insurance, they will start researching online. They will visit insurance carrier websites, compare policies, read customer reviews, and seek advice on online forums or social media groups.
How to respond?
Insurers must ensure their online presence is strong and easily accessible to potential customers during this crucial phase of research. SEO best practices can help insurers optimize their website to generate relevant organic traffic.
No. 2: Engagement with online tools. Customers who interact with insurance carriers’ online tools, such as premium calculators or coverage comparison tools, are displaying a deeper level of engagement. These tools help customers understand their insurance needs better and the available options.
How to respond?
Insurance professionals should optimize their digital tools to deliver a seamless user experience that educates and empowers customers in their decision-making process. Consider prominently featuring Contact Us and Get a Quote messaging within interactive tools.
No. 3: Comparison shopping. The era of comparison shopping has made its way into the insurance industry. Customers will explore multiple insurance carriers and agents to find the best deal. They will compare coverage options, pricing, and additional benefits before making a final decision.
How to respond?
To engage with such customers, insurers must highlight the unique selling points of their offerings, providing clear advantages over the competition. Consider strategies for the company to be featured on review sites and within sponsored content.
No. 4: Changes in life events. Major life events can trigger a need for homeowners or auto insurance. When a customer experiences significant life changes like purchasing a new home, getting married, having children, or relocating to a different area, they are more likely to be in the market for insurance coverage.
How to respond?
Insurers should be proactive in identifying and reaching out to customers experiencing such life events. These may be existing customers, such as a policyholder with auto coverage who has purchased a home.
No. 5: Requesting quotes. One of the most evident signs that a customer is actively considering purchasing insurance is when they request quotes. Whether it’s for homeowners or auto insurance, requesting a quote indicates a high level of interest and a willingness to explore different options.
How to respond?
Insurers should respond promptly to quote requests, providing accurate and personalized information to stand out in a competitive market.
No. 6: Abandoned quote or application. Customers who abandon the quote or application process indicate a potential opportunity for insurance carriers to re-engage. Many factors may contribute to abandonment, such as complex forms or a confusing user experience.
How to respond?
Insurers should optimize their processes to minimize abandonment rates and follow up with potential customers who didn’t complete the process, addressing any concerns they may have.
No. 7: Seeking referrals and recommendations. Word-of-mouth marketing remains a powerful force in the insurance industry. Customers seeking referrals and recommendations from friends, family, or colleagues indicate a higher level of trust in those recommendations.
How to respond?
Provide excellent customer service and maintain positive relationships with existing clients to achieve valuable referrals. Consider local SEO strategies to connect with potential customers in a more meaningful way.
Gregg Barrett is CEO of WaterStreet Company, a firm that helps insurers find digital-first strategies and offers cloud-based policy administration tools designed by insurance experts for insurance experts.
The original version of this article first published in the WaterStreet Company blog and is republished here with permission.
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