digital & breakfast (finance)
DESCRIPTION
Presentation given at Digital & Breakfast for the financial and insurance industryTRANSCRIPT
DIGITAL DISRUPTION
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In the last decade, $19 billion, more than half the total marketing spend for the entire industry, came from carriers that did not gain share.
source: Global Insurance Survey: EY 2012
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158,333,333
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the system is broken
http://www.youtube.com/watch?v=aXV-yaFmQNk
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In 2017, CMO´s will have a larger share of the technology budget than the CIO
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DISRUPTION
insurance stress
service spoiled
mobile first
empowered purchase
funnel
authenticity
personal2.0
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EMPOWERED PURCHASE FUNNEL
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A small number of consumers (27%) currently conduct product research prior to purchasing, but
two-thirds (66%) expect to in the future
source: Global Insurance Survey: EY 2012
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Source: Beyond price, the rise of customer centric insurance companies; McKinsey 2012
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Source: Beyond price, the rise of customer centric insurance companies; McKinsey 2012
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SERVICE EXPERIENCEIt´s never about price...
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More than half of customers (51%) said their insurers made no effort to retain them, although
62% indicated they would be more likely to renew if contacted.
source: Global Insurance Survey: EY 2012
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Only 35% of consumers have a very or strongly favorable view of the insurance & finance
industry, and 39% believe it lags behind other industries in service
source: Global Insurance Survey: EY 2012
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Roughly half of consumers (52%) prefer to buy multiple products from the same provider, citing
convenience and the value as the key factors.
source: Global Insurance Survey: EY 2012
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http://www.youtube.com/watch?v=35aWgiA0YK4
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http://www.youtube.com/watch?v=Dtp_mq2fO24
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MOBILE FIRST
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http://www.youtube.com/watch?v=o-r4Z1K_LDc
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http://www.youtube.com/watch?v=Drf0RrDfo64
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PERSONAL (2.0)
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http://www.youtube.com/watch?v=ggWY7OPag0s
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AUTHENTICITY: ADVERTISING FOLLOWS EXECUTION
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Rather than allow campaigns to be driven by paid media, marketers must now develop scale and expertise in owned and earned media to drive effectiveness, cultivate creative ideas, assess customer
needs, cultivate influencers, develop reach, achieve authenticity and cut through clutter
OWNEDPROPERTIES
EARNEDMEDIA
SOCIALPLATFORMS
PAIDMEDIA
INFLUENCER ENGAGEMENTResponse
Advocacy
Loyalty
OUTPOSTSRelevant message boards
Blogosphere
EMBASSIESFacebook
Youtube
Google+
PROPERTIESCatalog
Websites
Blog
Mobile
INCENTIVESAffiliate
Brand Ambassador
PARTNERSHIPSCharities
Co-Branding
Celebrities
CONTENTBuild trust
Educate
Curate
UGC
Reviews
Location-based Services
ADVERTISINGBanners
Display
Paid
Endorsments
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http://www.youtube.com/watch?v=cDsVOXTQAIs
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http://www.youtube.com/watch?v=BHJvuwZdlZ4
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HANDCRAFTED TECHNOLOGY FOR BRANDS
http://marketingthoughts.ktcagency.com