Have you heard about the recent shopping trend, that customers want experiences, not products or things? That's been the inclination the last few years, and that i bet it can even be translated to the insurance world. So whether your consumers are buying a service or a product, make sure the buyer experience may be the one they want.
The customer experience is a funnel. Think about the entire experience consumers have along with you and the many touch-points on the way. There is the experience they've visiting or shopping in your website, opening or reading emails and content, as well as any phone calls or in-person communication. All of these points of contact help form the consumer experience.
Aim to optimize each stage from the funnel individually making each touch-point as seamless as you possibly can. Shoot for consistency and ease of use.
How would you do that? Two main methods are personalization and data analytics.
Personalization Is Key
Personalization is essential to a quality customer experience. Use the information you know regarding your consumers to personalize each stage from the funnel. This can show consumers how attentive you are and enhance their overall experience. You may even have the ability to personalize touch-points based on the context of location or any other known facets of life.
For example, an email may refer to the coming harsh winter season in the consumer's state after which offer suggestions about additional home or car insurance options. An appointment may make reference to the final time the customer called, or even the conversation may end having a mention of a coming event largely talked about in the consumer's city. Your site can be personalized to “welcome back, (consumer's name)” whenever they sign in or visit, or perhaps a form can be pre-filled with the kind of car the consumer previously entered. Additionally, if you hold events in your area, your consumers may receive personalized mail or email about the ones located near them.
There are endless personalization possibilities to take advantage of that will help improve the overall buyer experience. Leverage the information you have to help make the consumer experience easier. You can also use data analytics to measure the success of the alterations.
Data and Advanced Analytics
Use data and advanced analytics to determine and identify opportunities for increasing the customer experience.
One optimal technique is to use A/B testing. With this method, you can test a big change against a control group to determine whether the change had more successful results. This can be to measure the success of personalization changes or testing other opportunities.
To determine testing ideas, take a step back and consider the consumer's motives and needs. What exactly are they searching for? What would be better for them-a more seamless online to offline transition, a different colored button, a two-page form rather than three? How will you result in the consumer's life easier? Whether you're at an agency writing policies, working at an insurtech startup or delivering leads, set improvement priorities. Understand the company's current buyer experience after which identify opportunities for positive change.
Don't rush to implement these identified opportunities, but do rush to check them. While ideas are wonderful, turning them into assumptions is not. You might be surprised by how one individual's assumption or way of thinking doesn't complement whenever you look at a total group of individuals. Don't deploy any widespread changes without first testing the ideas on the reasonably small-scale, after which on the larger scale. When the results aren't successful, start a new group of suggestions to A/B test. In the future, and technology and devices evolve, there will be a near infinite amount of improvements to make.
You may find that consumers respond easier to a different color form that improves their overall experience because they get in touch with a real estate agent. Or they might open emails more often when the headline language is four words rather than eight. Different language within an email can lead to better results. Look at key data points like the conversion rate onsite and click-through rate for emails to find out if that's the situation. Once answers are analyzed and changes are implemented, repeat the process and then optimize the consumer insurance experience.
In addition to A/B testing, you may also streamline consumer data to ensure that a customer don't have to answer the same question twice. The information will already be in one place. This will improve ease-of-use for the consumers so they do not possess to repeat an answer that they have filled already filled out online or through the mail. Integrate systems to share data efficiently and securely to enhance the client experience whenever possible.
The Answer to Success
The way to succeed isn't a one-time adjustment to improve the customer experience. You'll need continuous updates and regular changes. EverQuote receives a lot more than 5 million unique visitors per month. Which means, in line with the data, touch-points of the buyer experience may change month to month. Optimizing the consumer experience continuously but for the majority benefits us. Increasing the consumer experience is really a focus everybody in the company should know about, and every one of the personalization and data analysis should naturally complement your other business practices. You may be surprised at how the profit follows.
Bottom line: The middle of success will always be the consumer experience. Anything else involves that.
