Improve your insurance marketing strategy with mobility data and personalization

Personalization is a proven retention strategy for auto insurers. In fact, McKinsey says personalization can help drive an additional $2 billion in profits by enabling them to retain just 10% of the $19 billion in carrier switches a year.  

The stakes are clearly high for insurers — so what’s the trick to personalization? By allowing businesses to target the right customers with the right message, personalization can help form an individual connection with key audiences.  

However, it becomes more difficult for marketers to authentically personalize messaging as more data originates from disconnected sources. As personalization grows more granular and targeted, insurance marketers need better data and accurate insights to create authentic connections with their customers.

When does personalization miss the mark?  

As personalization grows more granular and targeted, insurance marketers need better data and accurate insights to create authentic connections with their customers.

While personalization has proven an effective insurance marketing strategy, the wrong tactics could damage relationships and customer loyalty. So, where can personalization go wrong for insurance marketers? 

Disconnected marketing  

You’ve likely found yourself scrolling through social media and seen a promoted ad that seems entirely out of place based on your interests. You may have found yourself wondering, “Why am I seeing this?” before scrolling past the ad. Disconnected marketing happens in every industry, and without accurate and properly managed data you could be reaching the wrong customers due to incorrect data. 

The result? A customer experience that provides irrelevant offers and recommendations, turning customers away from your business.  

Inauthentic messaging 

Just as inaccurate data or disconnected marketing can yield poor ROI on your efforts, inauthentic messaging can also be harmful. For example, a customer who perceives messaging as “salesy,” ingenuine, or blatantly inaccurate will likely turn away from your business. 

Surface-level personalization can feel inhuman and disconnected from your customers even when your data is accurate. Consumers are more likely to engage with marketing that is perceived as authentic and genuine to their needs.  

The bottom line: Personalization with the wrong data or inauthentic tactics can do more harm than good.

Authentic connections start with better insights 

Personalization isn’t easy to get right in insurance marketing, but accurate data is the first step to creating an effective marketing plan. Reviewing your overall strategy and data findings will often take several tries before discovering your business’s perfect fit. Here are three keys to developing personalized marketing strategies that can help increase retention: 

  1. Accurate data 
    • The challenge: To target the right customers with impactful messaging, you need to gather data from legitimate sources closely connected to your customers.  
    • The solution: By sourcing driving data directly from customers, like cellular devices or in-vehicle sensors, you can ensure your customer insights are accurate.  
  2. Expert data management  
    • The challenge: Massive amounts of data pose a logistical challenge to many marketers. To segment and market to different audiences, you need a better way to manage data.  
    • The solution: An expert partner can help you aggregate and manage customer data.  
  3. Data connected to customers’ needs 
    • The challenge: To create marketing personalized to your customers’ needs and preferences, you need data that reflects their daily habits — not just their first name.  
    • The solution: With anonymized driving behavior data, you can access information about your customers that help you target individual drivers. For example, a long-haul driver would receive different ad messaging than the average commuter. Or, a riskier driver might receive different ads than a safe one. 

Leverage data-driven personalization strategies from Arity 

With connections to over 200 million drivers, Arity offers the insights insurance marketers need to reach their target audience and personalize messaging according to customers’ actual habits and needs.  

Using the power of mobility data behind our work, we enable insurance marketers to level up their insurance marketing techniques with: 

  • Real-time driving data: We collect accurate insights and granular information on auto insurance consumers’ driving behaviors directly from mobile apps.  
  • Massive driver networks: We use your prospecting preferences to identify your ideal customers from our network of connected users.  
  • Authentic personalization: We enable you to serve tailored offers and messaging based on real driving behaviors — rather than outdated targeting assumptions based on age, location, or gender. 

Learn more about Arity marketing solutions.