According to a recent report in AdWeek , Life Event marketing is more effective than demographic targeting. “Consumers going through life events are much more likely to have similar purchase needs than consumers that are merely in the same age, gender or income demographic.” 1
Life Events and Insurance
Life Events, like the birth of a child, moving to a new home, or marriage, are often emotional and trigger customer reactions especially in the insurance realm. Almost 50% of customers who get married defect to other carriers. 2 Moving and home purchase are also defection points.
Agencies can use Life Events as an opportunity to reach out to retain customers and prospect for new ones.
One tip to keeping track of customer Life Events is looking at your customers who fall into the 25-35 age group as they are more likely to move, get married and change jobs during that time.
Engaging with them about their insurance needs early may lead to ways you can help them in the future. Offering solutions during the right times in customers’ lives can make a difference in customer perception.
Moving customers from one stage to another
With that in mind, we’ve recently created collateral around Life Events designed to help agents create emotional connections and potential deeper relationships with their customers. Notecards, postcards and even a moving checklist are inexpensive items to keep on hand - making it easy and affordable to connect with customers at moments where insurance comes to play.
Our new Life Events tools are designed to help you meet customers’ insurance needs now and in the future.
Visit Brand Express on ForAgentsOnly.com to look at our most recent life event collateral pieces.
For more tips watch the Life Events ProTips.
1 http://www.adweek.com/socialtimes/report-why-life-event-marketing-is-more-effective-than-demographic-targeting/627467 Author: Kimberlee Morrison, September 29, 2015
2 Forrester Research