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Voya’s Digital Journey to Engage the Always-On Consumer

Tuesday, May 19, 2015

Christine Frohlich, Director, Product Management, Experian Marketing ServicesGeorge DeVarennes, Senior Business Intelligence Analyst, Voya

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Company Snapshot

• 10,000+ clients in 30 countries

• Global segmentation of 2.2bn consumers

• Intelligent interactions. Every time.

Experian Marketing Services

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Overview

• The always-on consumer• Consumers path to purchasing insurance• Harnessing insights to drive personalization• Voya’s story•Marketing lessons & implications

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Meet the Always-On Consumer

Websitevisit

Email

Mobile Ad

PurchaseDirect Mail

Facebook

TVcommercial

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To Find

The average person can be expected to move a dozen times in their life

has at least 3 email accounts

at least 2 social media accounts

and nearly 2 mobile phones

Customer is harder to find

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Current

• Building personal and compliant experiences• Delivering omnichannel engagement• Optimizing online presence to simplify consumer research and

purchase process

Emerging• Discovering consumers expectations and preferences• Driving relevance with known insights to achieve engagement• Understanding how to build engagement in social media

Challenges for the Insurance Marketers

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The Path to Purchase: Offline & Online Touch points

Consumer preferences

• Prefer digital resources• Price shopping• Policy comparisons• Accessing information

• Prefer agents• Answering questions• Instilling confidence• Quality Advice

Life Insurance Customers Worldwide Who Prefer Physical1 vs. Digital2 Channels for Performing Insurance-Related Activities, 2012% of respondents

Physical channels1

Digital Channel

s2

Answering questions 51% 13%

Instilling trust and confidence 49% 11%

Receiving quality advice 47% 14%

Providing convenience 45% 23%

Providing easy-to-understand information

39% 19%

Providing quick service 38% 24%

Receiving independent/objective advice

37% 20%

Finding the best rate/price 29% 30%

Comparing policies and services 27% 32%

Accessing information 23% 34%

Note: respondents who indicated a strong preference for each channel; 1 agents/brokers/banks 2 internet/mobile Source: Capgemini, “2012 Insurance voice of the Customer survey” as cited by Capgemini and Efma, “World Insurance Report 2013,” Feb 27, 2013

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The Path to Purchase: Online & social for research

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71%

66%

61%

49%

44%

59%

59%

61%

#1 Marketing Priority

Personalization

Marketers Worldwide Who Believe Personalizing Marketing Is a High Priority for the Future of Their Industry, May 2013% of respondents

Retail/commerce

Telecom Utilities

Financial services/insurance

Health/life services

Consumer products

Other

Total

Source: Teradata,”2013 Teradata Data-driven Marketing Survey,” August 5, 2013

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Two audiences…

both in market for life insurance

What do they look like?How do I engage them?

Best insurance prospects in market now

Families Matter Most

Balance &Harmony

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Families Matter Most

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Creative & Messaging: Value & Necessity

A B C D

Show the savings Feature bonus elements

Product Comparisons

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Balance & Harmony:

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Creative & Messaging: Endorsements & Status

Celebrity testimonials

High End Lifestyles Luxury brands & icons

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Voya: Getting personalData-driven approach to audience segmentation

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Company Snapshot

• 13+ million customers

• 6,500+ employees

• Retirement readiness for America

America’s Retirement CompanyTM

Get to know …

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Use Cases

• Refining Segmentation

• Online Content Optimization

• Social Media Engagement Strategies

Overview

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Identify:

• Who’s our customer?

• How do we best reach them?

• Keep focus on customer

Refining Segmentation

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Next Steps

• What did we learn about our customers?

• How do we apply our learnings across teams/groups at Voya?

Refining Segmentation

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Retirement InvestmentsObjective• Increase click rates

Strategies• Personalize

messaging • A/B testing • Measure results

Online Content Optimization

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Before

Online Content Optimization

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After

Online Content Optimization

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Overview

Social Media

83%

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Insurance Solutions

Objective• Increase social media engagement

Strategies• Create customer profiles• Develop targeted messaging• Deploy messaging via social

Social Media

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#BornToSave Campaign

Social Media

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The Results

• Using data to drive decisions

• Customer at center of it all

In Conclusion

THANK YOU!

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