THE CHALLENGE: 77% of marketers believe real-time personalization is crucial, but 60% struggle to achieve it. The concept of real-time marketing is not new—for decades, brands have used Customer Relationship Management (CRM) solutions to organize customer information and tee up the “next best offer” to be communicated in “pull”/inbound channels. In general, such solutions have been limited by data access, analytical capabilities, and narrow channel application.
As the economy struggles to get to its feet in the aftermath of the economic slowdown, consumer confidence in India remains weak. This fear of an under-performing economy and rise in prices often leads to a shift in consumer focus towards savings. Similarly, budgets are cut and spending is restricted to elementary needs such as health care, which is one of the top five concerns that consumers say affect household budgets.
An actionable understanding for life insurance
The middle market is a top priority for many insurance carriers, and it's no surprise—with about 35 million underinsured middle-market households, insurers could add roughly $10 trillion in life insurance coverage by reaching this market more effectively.
To give you valuable insights into the middle market, Epsilon and LIMRA partnered on an in-depth study of more than 6,000 consumers to identify unique segments of this market.
Brand marketers are shifting from outbound, push-based approaches to creating recurring engagement, fueled by data and technology.
This was a key trend at the IBM Smarter Commerce Summit in Tampa Wednesday, where marketers from Allstate, Intercontinental Hotels and David’s Bridal spoke about their respective brands’ journeys from push to pull marketing.
When economic times are tough, life insurance companies are one of the first to feel the pressure. Within the larger financial picture, life insurance can be pushed into the background of “nice to have”. The expense doesn’t always seem worth the benefit, especially to younger audiences who aren’t yet concerned with their end of life plans. This audience needs to see the benefits of life insurance and how it fits into their lives in order to begin a relationship with your company. Instead, some companies are using a strategy of guilt and fear to reach the audience.