Many purchases are based on the need for instant gratification – gum, magazines and fast food are all good examples. The price is low, satisfaction is immediate and there’s little risk involved with the purchase.
Unfortunately, insurance does not fit this “instant gratification” profile. The price can be significant, there’s little satisfaction, and there's some risk since buyers are typically committing to a year-long relationship.
At this point, I have told you anything new. Everyone knows this stuff, right?
Yet, if you take a look at a vast majority of insurance websites, ads, brochures and email marketing, it seems like many insurance organizations might be expecting prospects to act immediately – as if requesting a complimentary quote was as easy as buying a pack of gum.
The problem is that the “complimentary quote” offer stops many prospects in their tracks. Here’s why:
- They’re still thinking, learning and assessing their options. Requesting a quote is something they do when they’ve narrowed down their options and are somewhat ready to proceed.
- Many prefer to remain anonymous during the research phase of their buying cycle. To get a complimentary quote, they might have to provide a lot of information. Worse yet, they might have to talk to someone!
- They feel rushed. Many personalities truly enjoy the buying “journey.” Don’t try to take them to the destination too quickly.
A complimentary quote is a “bottom of funnel” insurance marketing offer. It’s something that’s perfectly appropriate toward the end of the buying decision cycle. However, depending on the complexity of your product, it’s not always appropriate for the “get acquainted” stage of the relationship. When relationships are just getting started, it’s important to respect your prospects’ needs and provide information to help them feel informed and empowered.
“Top of funnel” offers don’t require the prospect to get a lot of skin in the game … yet. Examples include:
- Downloadable white paper
- Buying or comparison guide
- Self-assessment forms
- Case studies
- Newsletter subscription
Here’s the catch: You should require prospects to give you some basic information (via a landing page form) before you provide these materials. It’s a give-get relationship. When they provide their name and email address, you can follow up and invite them to download additional great info. They’ll come back to your insurance website and the relationship will continue.
All insurance marketing pieces have one common need: An irresistible offer. Next time you’re developing a piece, take a second look, and maybe even a third. Do you have a call to action? What should prospects do next? Have you provided a “top of funnel” offer that respects the buying journey?
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