A recent survey carried out by UKGeneral highlights a few things of interest from a marketing point of view. While there survey was a look at the scheme market (http://www.ukgeneral.com/schemes-insight-survey-2016#overlay-context), there are a few standout points that we picked up on.
Social media is the biggest opportunity for schemes brokers
There has been a large rise in the number of social media platforms as well as advertising and promotional opportunities within them. Having a niche scheme and niche audience is a great way to take advantage of social media. You can build audiences and search out target groups where they hang out online. In this way, you are reaching your audience directly, without the need for using search.
Your customers are on social media and will be using it to make decisions about their insurance needs. Make sure you are there reminding them of your product and service. Paid advertising options means you can reach audiences in a very different way to pay per click on Google.
40% of brokers do not transact online
In the digital age, brokers that have niche schemes need to get these web enabled to take advantage of reduced admin and marketing costs. Brokers can also now get ahead of the curve by ensuring their websites are mobile ready and fully transactional.
This will give potential clients the ability to buy your product from any device at anytime. There are more and more people using mobile devices to access the Internet and simply getting a website live is now not enough. Take advantage of ensuring your site is future proofed as much as possible.
Aggregator marketing has doubled in 2 years
The insights show that trading via aggregators (MoneySuperMarket, Confused et al) has increased from 9% to 20%. This could be due to a number of reasons:
Affinity partnerships have reduced by nearly 10%
Affinity relationships have dropped which could be because there is more focus on direct channels. Plus, increased regulation of affinity activities could also be putting some insurers off.
The main things we take from this report are that there are still huge opportunities for scheme brokers to take advantage of the Internet to drive sales.
If you are looking to get a scheme web enabled we can help with this process. If you have a web enabled scheme already, we can help drive traffic and sales to it.
Please get in touch for a no obligation chat about your ideas.