What would you do if you could see the whole lifecycle of a customer before it happens?
Financial decisions aren’t made impulsively. Everything from getting a new pet to buying a house are decisions consumers don’t take lightly, ones that require months or years of thought. So why don’t more insurance companies walk alongside customers on their individual journeys and help them navigate changes in advance of significant milestones?
Connecting with customers before they need a new product or service is more crucial than ever. The key is finding a vendor that helps you reach these customers when they’re most likely to engage, and gives you real proof that the strategy is working.
Signals technology moves your strategy from reactive to proactive. This product recognizes near real-time consumer buying signals with back-end data science and modeling included, allowing marketers to focus on optimizing audiences and personalization across channels. This can help insurance marketers determine customers who are most likely to be in market.
Signals gives marketers direct access to optimized audiences, meaning customers are getting a personalized marketing experience that speaks to them directly.
In a world of marketing noise, finding meaningful ways to reach customers doesn’t have to be rocket science. Having the right tools to guide your customers along as their lives evolve can be—and should be—the key to your success.
What is third-party cookie deprecation?
Third-party cookies (3PCs) are a common identifier for marketers to identify and reach consumers across websites, but they’re not permanent. In fact, they’ve been deprecating for years, and in 2023, they’re poised to go away completely.
- 2017: Safari removes 3PCs (30% of browser marketshare)
- 2019: Firefox removes 3PCs (4% of browser marketshare)
- April 2021: Apple limits use of identifiers on its devices
- 2023: Chrome to remove 3PCs (48% of browser marketshare)
Finding customers in real life
We’re going to take you through the life of one person to show you how signals can help you speak to your customers where they are—and when they need you most.
Jessica Woods is a nursing student who’s about to graduate. Insurance isn’t really on her mind as she navigates her busy life, but as things start to get more “real,” she’s beginning to think bigger. She currently has a renters insurance policy with Insurance Co., but as she prepares for her new chapter, she’s thinking about everything from a new apartment to possibly buying a car—depending on where she’s placed.
Jessica is early on in her journey, meaning Insurance Co. has a unique opportunity create a meaningful connection with her now and gain her trust throughout her financial life.
Before we dive into Jessica’s journey, we have to ask: how is Insurance Co. going to know how they can help her along her way?
Graduation | Home Ownership | Marriage | Children
What Insurance Co. knows about Jessica
With a marketing strategy that centers around a clear view of its customers’ identities, Insurance Co. has a unique look on who Jessica is. Broken down, this is how they see her:
- Customer data integration: Basic information Insurance Co. has (Jessica Woods, email@example.com, 21 years old)
- Digital activity: Information about Jessica’s online activity (searched for: nursing jobs in Philadelphia, used cars near me)
- Customer information account management: Social profile data that rounds out who she is (likes cooking, Netflix and travel)
Insurance Co. is using Signals, which is highly predictive and shows them consumers’ real-time intent, optimized through first-party data.
This allows Insurance Co. to make the most of their messaging throughout Jessica’s customer journey and to continually use predictive data to differentiate what someone might need over someone else.
Predictability and anticipation should be the biggest driver of your marketing efforts. The key: Building data-driven, personalized experiences for every individual on their preferred channels and devices.
- How are signals bolstered on your owned channels?
- How are those activating across different touchpoints? (connected TV, mobile, display, etc.)
The day has come. Jessica is graduating college. Luckily for her, she’s already secured a few interviews. The best fit comes down to a team that supports her and a hospital with a good company culture. That’s why she’s accepted a job with Sacred Mother Hospital just outside the city.
So, what’s she going to do now? She needs a new apartment. With her new adult job should come new adult digs. And she can’t get to Sacred Mother Hospital without a car.
Her new browsing history
- Used cars near me
- Zillow.com: 1 bedroom apartments in Fishtown
Insurance Co. has two opportunities. She already has renters insurance, and when she goes to cancel her policy, they’re able to reengage her right away. For her, renters insurance makes sense—and thanks to Insurance Co.’s use of Signals, she’s also getting ads for car insurance.
The bundle looks good, and when she finally pulls the trigger on a 2019 Hyundai Tucson, it’s a no-brainer to go with Insurance Co. She looked at other rates, but time and time again, she was served ads from her insurance company and didn’t feel the need to switch.
A few years pass and life is good. Not only did she get promoted at work, she got a new boyfriend, too. What does a young couple in love do? Get a dog, of course. Jessica and her boyfriend Brian want to rescue a smaller dog, and they do extensive research on shelters in their area before finding a chihuahua mix named Pancakes.
Her new browsing and transaction history:
- Animal shelters near Fishtown
- Chewy.com: Dog beds, dog toys, dog leash
Pancakes is her baby, and Jessica is sparing no expense when it comes to the new love of her life. Insurance Co. sees another opportunity to give Jessica exactly what she and Pancakes need: Pet insurance.
The ad speaks to her, and just like that, she’s now added another policy with Insurance Co.. Simple and affordable with a brand she already knows and trusts.
There’s nothing better than owning your own home. As Jessica nears her 30s—and as she and Brian are inching closer to marital bliss, she’s got one thing on the mind: Real estate.
What can she afford? She has no idea. So she meets with a mortgage lender, looks at some listings online and starts getting serious about saving for a down payment. All the while, Insurance Co. is noticing her changes in activity and seizes the opportunity.
Her new browsing history:
- What mortgage can I afford?
- Mortgage calculator
- Mortgage lenders near me
- Zillow.com: Home listings near me
With a little ingenuity—and some great guidance from her realtor—she, Brian and Pancakes relocate to a beautiful three-bedroom house in western Philly that has a charming backyard and a finished basement.
But before they even toured the home, Insurance Co. let her know she could pay less on home insurance than with other competitors. Not one to ruin a good thing, she added another policy and packed up her apartment for good.
After four blissful years together, they’ve decided to make their love legally binding. And with that comes a whole new set of considerations. Planning a wedding is crazy enough, and Jessica—always the calm and responsible one—wants her special day to be absolutely perfect.
New browsing history:
- Wedding venues in Philadelphia
- Wedding boutiques near me
- United.com: Two first-class tickets to Bora Bora
Insurance Co. doesn’t waste any time helping Jessica secure the next chapter of her life. When she’s served an ad about travel insurance, she immediately gets it. One less thing to worry about. When she’s served an ad for jewelry insurance on her stunning 2-carat princess cut diamond with a sterling silver band, she is stunned. She didn’t even think about that!
First comes love, then comes marriage, then comes two children in a home that is just a tiny bit too small. Having kids is great, but what’s even better is having a home where everyone isn’t on top of one another.
Jessica and Brian are in a good position to sell their home and upgrade. They’re also considering ditching Brian’s 2014 Honda Civic two-door for something a little more suited for hauling around children. Big changes are happening, and their browsing and purchase history reflect that.
New browsing and purchase history:
- Best SUVs for families
- Target.com: Car seats, baby wipes, closet organizer
- Zillow. com: 4+ bedroom houses in West Philly
Insurance Co. has her back. Babies bring a whole new perspective to a person’s life, and suddenly Jessica is thinking about things beyond today. She’s already checked out car insurance rates for their new SUV—and has already spoken to an insurance agent about new homeowner’s insurance—but when she’s served an ad for life insurance, she knows it’s the smart thing to do.
So, why does this matter to you as a marketer?
Jessica is just one person, but her commitment to Insurance Co. was seeded by them being there for her as her life evolved. Because of that, they were able to take a single renters insurance policy and grow it into a multitude of ongoing and in-the-moment policies. All of that was possible for Insurance Co. because they used their first-party data to reach her at the right times.
If you're looking to reach your customers exactly when they need you most, Epsilon can help.