The Advent of Inbound Permission Based Marketing ... - Inbound Mktg.pdf · Marketing, Sales & Distribution…

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  • Marketing, Sales & Distribution

    The Advent of Inbound Permission Based Marketing: Education Versus AdvertisingEducation Versus Advertising

    Tom Riekse, Jr. LTCI Partners

    Kristi McGivern Director Brand MarketingKristi McGivern Director, Brand Marketing - Genworth

  • What well cover

    How marketing LTC Insurance has changedg

    How carriers and distributors can work closer togethercloser together

    Connecting marketing and sales

    Session 23: Permission Based Marketing 3

  • Traditional Marketing Channels are Broken

  • A Carriers View

    Need to grow the market Expand the target marketpa d e a ge a e

    Traditional marketing challengingROI poor ROI poor

    Lack of trust in Insurance carriersInformation access is whats desired Information access is what s desired

    Need to change the conversation Education Neutrality

    Session 23: Permission Based Marketing 5

    Need

  • LTCI Market Context

    Individual Policies Sold & Average Annual Premium

    U.S. Households and Industry Concentration

    $3,000

    $2,500

    $2500+

    Age

    ~122M Households

    9% of HHs66% of sales

    $2,500

    $2,000$1,918

    $2,283

    $1,500

    $1,677

    alth

    Source: LIMRA, LTCG Health Experience Reports and Analysis

    Wea

    A reduction of market players shrinking distribution increasing premiums and

    Source: U.S. Census, Genworth Policyholder Analysis

    Session 23: Permission Based Marketing 6

    A reduction of market players, shrinking distribution, increasing premiums, and solution alternatives have resulted in LTCI being a solution for the affluent.

    6

  • A Carriers View

    Session 23: Permission Based Marketing 7

  • Session 23: Permission Based Marketing 9

  • A distributors challenge

    Fire sales over hard work begins New products have unlimited supply New products have unlimited supply

    just need to sell them LTC Insurance has a PR problem LTC Insurance has a PR problem

    Session 23: Permission Based Marketing 10

  • What are ways to increase sales?

    Compensation? Wholesalers?Wholesalers? Direct Mail?

    Ad ti i ? (P i t R di TV Di it l) Advertising? (Print, Radio, TV, Digital) Paid Search?

    Session 23: Permission Based Marketing 11

  • Source: State of inbound 2015 HubSpot

  • Top Challenges for Marketers

    Source: State of inbound 2015 H bS tHubSpot

  • Consumers are controlling the sales process

    Source: Hubspot, Inc.

  • One Distributors Journey

    Paid Advertising Higher CommissionsHigher Commissions Direct Mail

    Advisor Education Consumer Education Benefit Broker EducationBenefit Broker Education

    Session 23: Permission Based Marketing 15

  • Creating a Persona Financial Advisor Frank

    Session 23: Permission Based Marketing 16

  • Types of Content

    Social Media Microsites Landing Pages Slideshares

    Video Blogs Video Blogs Email news Blog PostsBlog Posts Webinars E-books Infographics

    Session 23: Permission Based Marketing 17

  • What type of content has been most engaging?

    Top Post for advisors Reimbursement vs. Indemnity what price flexibility?y p y

    Top post for benefit brokers SI is the Top post for benefit brokers- SI is the new GI

    Top post for consumers Heed the advice of a caregiver

    Session 23: Permission Based Marketing 18

  • Our Sales and Marketing Best Friends

    A/B Testing If/then workflowsIf/then workflows DIY Integrations

    Session 23: Permission Based Marketing 19

  • A/B Testing

    Session 23: Permission Based Marketing 20

  • Session 23: Permission Based Marketing 21

  • IF/Then sales automation

    Allow for more targeted email activities based on status of contact

    Session 23: Permission Based Marketing 22

  • DIY Integrations

    No coding or specialized knowledge necessary tonecessary to automate tasks

    Session 23: Permission Based Marketing 23

  • All information gathered to predict lead score

    Activity web browsing, email, social media, webinar attendance, quote requests all can be combined into predictive lead score for customer

    Session 23: Permission Based Marketing 24

  • What about ROI?

    On one account 15% of applications received after 12 months through email glead nurturing paying for system

    Length of buyers journey for LTC meansLength of buyers journey for LTC means this type of marketing is necessary

    Session 23: Permission Based Marketing 25

  • Questions?

    Session 23: Permission Based Marketing 26