Insurance Affinity Marketing Strategies and the Decline of Snail Mail

March 23, 2009 - There’s a whole new bag of tricks available for insurance marketers these days. The question is which ones to use in affinity marketing sales.

Mike Wise, IdeaStar Vice President of Insurance Technologies, recently returned from the Professional Insurance Marketing Association (PIMA) annual meeting.  In the past, direct mail marketing has been king.  And so far, it remains so.  But the Internet is changing things.  New technology resulting in integrated marketing campaigns uses the best of direct mail, including personalization, personalized URLs,  Web site landing pages, interactive Web sites,  electronic fulfillment, e-mail marketing, social networking and the next wave – mobile marketing.

“It will be interesting to see how different organizations try new ideas, and the subsequent results they achieve,” Mike said.  Things are changing so fast, he said, that “direct mail marketing will be obsolete in five years – and with ‘green’ initiatives, new administrations, etc., - maybe even illegal.”   That’s obviously a stretch, he admits, but the increase in postage costs, the environmental movement, new online technologies, and the increasing popularity of the Web could hasten “snail mail” marketing’s decline.

“The comment was made more to stimulate thought then to predict the future.  But the main point is affinity insurance marketers are well-advised to expand their uses of Internet-based marketing solutions to at least supplement traditional marketing tactics like direct mail and telemarketing,” Mike said.  “They need to consider how new media like Twitter, Facebook, Linkedin, YouTube, e-mail, and blogs can be used to drive targeted traffic. 

Mike applauded the growing interest among PIMA members in the use of social networking and the Internet, especially in this unfavorable economic time.  “To their credit, this time of trial seems to have encouraged industry professionals to focus on the essentials – networking, learning, growing, and reaching for new solutions to timeless direct marketing challenges,” Mike said.

For instance, one IdeaStar client recently launched an affinity marketing Web site supporting the distribution of 130-plus products for 30-plus carriers to 80-plus groups / associations –all developed in less than eight months.  Each site visitor receives custom-branded information for his own state and/or association. And to the outside world, it all looks easy. 

Mike said he expects IdeaStar will build at least three similar sites in 2009.  “There is tremendous opportunity for online quoting and enrollments, gaining new clients previously out of reach, and reducing the acquisition costs of new business.  The timing seems perfect for extremely productive Web marketing initiatives.”

Mike, also known as Mr. Insurance Tech, is always looking for new ways to use the Internet to help IdeaStar’s current and future clients.  Contact him at 800-766-2635 ext. 116 to discuss how IdeaStar can make the Web work for you. Network with Mike at LinkedIn.