It’s no secret that the pandemic has caused consumer habits and behavior shifts as they evaluate priorities and make changes. It also got a lot of people thinking about how to increase the financial security of their families, now and in the future. And life insurance moved to the top of many to-do lists.
- 67% of Americans say that the pandemic has been a wake-up call for them to examine their finances.
- 30% of Americans say that life insurance has been one of the top topics for dinner table discussion.
- 15% of respondents surveyed by PwC last year said they were likely to buy insurance as a result of COVID-19
As the pandemic introduced increased focus on budgeting and spending habits, consumers who historically review their policies annually are now more motivated to consider switching providers if there is a better option available.
Does your insurance marketing strategy have what it takes to capture these consumers as they are reviewing insurance options and making purchasing decisions? Continue reading to inform your insurance advertising strategy.
Life Insurance Shoppers Respond to Ads in The Mailbox
Did you know?
- 74% of potential life insurance switchers responded to an ad or coupon in their mailbox in the last 12 months
- 63% of Life Insurance Policy Buyers responded to an ad in their mailbox within the last 12 months
Along with proven success for activating insurance buyers and switchers, adding shared direct mail to your multi-channel campaign does more than simply engage customers; it drives greater purchase intent. In fact, print drives 11% purchase intent compared with only 4% with only digital media alone. That’s a 175% increase in purchase intent when anchoring your digital campaign with a print component like shared direct mail!
Let us show you how you can achieve your marketing goals by partnering with Mspark and the power of direct mail. Engagement with the mailbox is at an all-time high.
- Consumers spend 11 minutes sorting, opening and reading mail daily
- 79% of recipients look forward to checking their mailbox each day
- Daily mail engagement has increased 69% since March 2020
Solutions to Make Shared Direct Mail a Key Component in Your Marketing Strategy
The following key products are proven to drive results for insurance providers.
SOLUTION #1: TARGETED INSERTS
These are the number 1 product used by our insurance clients. Available in 9 sizes to meet your needs and budget, our Targeted Inserts allow you to target the consumers most likely to do business with you all the way down to the carrier route level.
SOLUTION #2: QUICK CONNECT (PRE & NEW MOVER)
Quick Connect postcards are our fast and flexible product solutions that allow you to be the first to connect with consumers during major purchasing decisions. Reach Movers within 2 to 3 days: pre-move, post-move or both.
SOLUTION #3: IMPACT POSTCARD
The Impact Postcard is our stand-alone, high visibility piece ideal for competitive blunting, with personalization/variable messaging options to target current and potential customers with relevant loyalty, retention, and referral messages.
If you’re ready to talk more about integrating direct mail into your multi-channel marketing strategy to drive better results, reach out by clicking Get Started below.
Sources: How Life Insurance Shopping Has Changed During The Pandemic, Forbes.com; pwc.com COVID-19, consumers and coverage: Survey shows what insurance buyers want now; AdMall AudienceSCAN 2020; Millward Brown Print Campaign Analysis; USPS Consumer Mail Moments, Spring 2020