This strategy plan was created for a tech company specialized in insurance VSS (vertical specific software) solutions.
Let’s start by making an analysis on the company to evaluate it’s online presence.
The company and market position
The online positioning analysis for this client has determined that the company is “ONLINE but inactive” which means the following things.
- It has a website scarcely updated, with little attention to it’s presentation style
- presence in social networks almost non existent with little to no updates at all
- doesn’t have a blog
- Google My Business is correctly compiled
BRAND POSITION ANALYSIS ON GOOGLE
The organic positioning analysis has reported a good result for the search terms including the name of the company but the results where scarse when searches consisted of only key words regarding the services offered by the company.
It’s fair to say then that if potential clients don’t know the name of the company, they will find it difficult to get to know about it when searching for just the services they’re looking for. (e.g. insurance management software)
Moreover, the company is not present in any kind of marketing campaign like Google ads or Google display.
MOBILE COMPATIBILITY ANALYSIS
This analysis considers how the website of the company and all of it’s eventual public services created to promote the brand identity respond do mobile devices. It should take into account different aspects including but not limited to site speed from mobile with different mobile speed simulations, site design and responsiveness for mobile users and so on. 41% of the population in the target country for this company’s customers use a smartphone and 90% of these are constantly connected to internet. Websites not mobile ready, not optimised for a good experience on a mobile device, are considered less reliable.
From 21 April 2015, Google declared that websites not performing good on a mobile device would be penalised on the organic positioning for web searches.
On the homepage of the website, Google Analytics services are enabled to monitor visits, but this could and should be extended with other tracking codes such as those to track conversions and those used for remarketing on other pages of the Display network.
Insurers have found themselves in need for digitalising their internal processes and business models in order to keep up with the changing digital economy that effects insurance as well.
Customer expectations, the highly competitive market and the huge adoption of cloud computing and mobile technologies are some of the main moves that along with analytics and social media, make possible an ever-growing digitalisation.
The trending topics for the insurance VSS are:
- Cost lowering solution for claims management, operations and customer acquisition
- Pull platforms
- Risk evaluation through big data analysis from both structured and unstructured data such with help from machine learning
- Insurance vertical software market, as forecasts indicate, will reach around 12 billion USD in 2020. Compared to the 10.8 billion spent on 2015 there will be a composite growth of about 2.3%.
- The world market is divided as follows with Salseforce, Microsoft and Oracle as the most important players.
The digital marketing plan
Through observation on points of sales, market analysis but more importantly taking into account a range of people that the company aims to reach, a few personas are built and defined. These identikits will help us to identify the needs, the features and the life cycle of the target customer.
Knowing these needs of the target customer we can create a strategy tailored to satisfy them by also being in the digital locations where it would be easier to communicate with the audience.
For the identified identikit, the keywords that better assemble it are:
- Insurance VSS / Vertical Specific Software
- Insurance software
- Insurance portfolio management
- Claims management
- Insurance agency management system
- General accounting
- ERP insurance
- Accounting insurance agency
- Insurance broker management system
- management software
Being present in the digital ecosystem is one of the main tools not only for marketing purposes but also for public relations and comunications. The proposition for customer comunication is that of building an integrated multichannel strategy.
It’s neccesary to fix a starting budget at 3000€ per month. Along with these marketing and promotional activities, there will be developed a number of digital platforms needed to support this advertismenet strategy.
In regards to the marketing strategy, the company sets as aim to diversify its channels for marketing, promotions and communication through the creation of innovative and catchy landing pages for each product. These activities allow for a better presence online and therefore a better set of communication means with potential clients.
This marketing strategy plan aims to increase the brand awareness not only in the country of origin where the company is already known in its sector but also in other countries. These countries will be identified after an extensive market research for interest in VSS for insurance.
It is necessary to identify the digital path of the persona that is our target. As a first step for this we have to imagine the news/information digital places our persona goes to.
Using a combination of keywords that our personas would presumably use to satisfy their their needs in terms of insurance, management tools and information, we can identify easily the main most popular hubs.
To fathom the web, a list of important meaningful keywords will be created with
- brand/company name
- needs to satisfy
- competitor brands and their products
- information and doubts
- phrasal verbs that our persona might use for certain managerial/operational activities
Using the tools openly available, the identified keywords can be analysed so to better understand the needs of the potential customers.
Afterwards, with the data gathered, we can analyse the re different needs and put a weight to each one of them in order for us to better indicate the needs that have a high demand such that the conversion rate would make sense for spending on marketing.
SOCIAL MEDIA ANALYSIS
The same research method (and later of continuing monitoring though tools such as SocialMention for the social media and Google Alert for Google) will be performed in the open social network space. Open social networks are those that let an external user search for public content.
This research is necessary for:
- determine the language and the etiquette used by the interested users
- the content type most common to our persona
- the methods and products more frequently shared
- determine who are the power users (most active, most connected, most followed) always regarding the topic under test.
This lets us understand the social tools that build up discussion and who are the active people that participate in those discussions.
MAPPING THE DIGITAL TERRITORY
At the end of this process we’ll have obtained a list of websites/portals and other digital places that represent the universe of reference for our identikit.
DIFFERENTIATION FROM COMPETITORS
Some ideas to implement in order to differentiate from competitors:
- Marketing campaigns (multimedia) “Became a smart insurance agent”
- Increase in social network presence on Facebook and Twitter. Support and news through chatbots, Facebook and Twitter.
- Free webinars and courses (Showing insurance agents how they can sell better and more while promoting the use of own software solutions)
- Cross product promotional messages and advertisement. All the products of the company can promote one another with simple insertions throughout the different web and mobile applications.
STRUCTURE OF THE ONLINE PRESENCE
Having the results from the aforementioned analysis of the digital ecosystem, a start styled structure of tools is created that along with the analysis will contribute into executing and reaching the objectives set. Searching information on the web the user has to be able to understand, evaluate and get to know the perimeter of values and activities of the brand: this will be obtained through the blog, the main company website, the various product landing pages and the ongoing activities that will be performed on social networks.
One of the first steps to the digital transformation, especially if the company is a bit old, is to define an innovative and uniform set of colors, logo, fonts to be used company wide and so on.
By the internal tools such as the blog or external like social networks, our possible customer will be able to get in contact with the company history, the product (quality, details, technologies, reason why and work in progress), activities (communication, events, the management team, conventions, other initiatives online and offline), the people (project managers, analysts, the management, creatives) and the locations.
On a project level, an editorial plan will be planned, which will consist on the selection and creation of content, production of digital platforms, management of the feedback and in a more wide sense of the community that will be fed around the brand.
Two way of promoting and marketing have been identified for the company and it’s product X.
- Promotional: activities aiming to push company’s own commercial offers towards the targeted consumer by means of direct promotion.
- Retention: activities aiming to increase customer retention and customer satisfaction regarding the product
The first solution to advertise the product X is building a dedicated web page for that product.
By developing a very light and responsive landing page it is possible to advertise exclusively the software focusing the positioning interventions and brand identity without eating too much into the company website (that would require a much more important effort).
Professional videos to be used to increment product X’s visibility on social media (Facebook, YouTube, Twitter, etc.) The clips will be short and will have the only aim to excite curiosity to the [insurance] intermediary to get to know more about the product.
GOOGLE & FACEBOOK ADS.
An substantial investment on advertisement will be done using the advertisement services of Google and Facebook.
RESTORING THE ONLINE PRESENCE
Having as the main objective the restore and enhancement of the company wide branding image we can identify the following macro intervention areas:
- website renewal, by creating a new innovative and responsive design and by using text content useful for the organic positioning.
- blog creation, to help enhancing the organic positioning
- a team responsible for creating and maintaining the blog content and social network pages
- find a specific aim for each social network page (e.g. broadcast software updates, communicate massively eventual issues and so on.)
- plan a calendar for marketing campaigns aiming to beat competitors’ bids and result in a higher position.
- plan a social web marketing capaign
- create a landing page and campaigns for Lead generation, a dedicated page promoted to attract prospects and get their contacts so that the sales team can than contact them directly.
- Use better Google analytics to monitor the content and enhance the performance of the online marketing by setting goals and KPIs (Key Performance Indicator)
Mobile Application: Become an insurer
Publishing a mobile application having a well defined set of suggestions and operations to do to become a good insurance intermediary. The mobile application will be a good bridge to promote the product X directly to the interested user who, wanting to become (a better) insurer is interested in an insurance management system.
Mobile Application: Mobile application for insurance sub agents
Another application, aiming to optimize the time insurance sub agents’ time, which could also be used as a good channel to promote product X. The application will have 2 simple functions. The first one will be a calendar that will help the sub agent organize all the customer appointments. The other functionality will be a geolocation service. It will be possible to see in a map the closest customers of a sub agent. This will help the sub agent meet more than one customer and promote their insurance products to more than just the planned customers. They’ll be real insurance salesmen.
Information Blog/Portal updated with the latest on the insurance sector.
The aim is to create a reference point for the intermediaries that want to be constantly updated with latest laws, norms, taxes etc. This portal will also be a means of advertisement of the company’s products.
OBJECTIVES OF THE DIGITAL TRANSFORMATION PLAN
The digital strategy needs to follow the company’s own strategy and be a tool for it’s completion.
The objective that should be reached are as follows:
- Increase in pageviews and contact requests through the main company website
- through a better positioning in search engines
- through a better online presence with a blog, social network profiles and multimedia content
- Create a continuing contact with the end user / customer to:
- get excite their curiosity and get them to want to know the company’s products.
- enhance and optimise the work of the salesmen
- be able to promote direct offers and incentives
- Differentiate from competitors through
- telling the creative and productive character of the company
- making the customer feel part of the development process, installation process and formation
- the innovation during the support and issue reporting by using tools like chatbots to have a evermore personal contact with the customer instead of the classic ticketing system.