The motivation to buy life insurance is particularly strong for consumers who are experiencing major changes in their lives. The target market for life insurance includes American adults in the 31 to 45 age group. These consumers are at a stage in life that includes getting married, having children and buying homes. COVID-19 encouraged consumers to think about their coverage if the worst were to happen.
Your customers can continue these important conservation measures with potential customers by targeting the right consumers with effective marketing tactics. These consumers are in the process of getting married, having children and buying homes. Data from Boston Consulting Group shows that, just before the pandemic, 44% of consumers purchased life insurance policies in person. After the start of the pandemic, 38% purchased through a hybrid process that included an online item.
That change means that consumers may be reading content online or searching on the topic. When they find a site that offers what they're looking for, they may be filling out an initial request for a quote online. Because consumers are now researching this category online, your customers can contact them there. Branding campaigns in television, digital video and audio formats, such as traditional radio and podcasts, can also highlight key life events that arouse interest in life insurance policies.
To remain relevant, your customers must include a good mix of digital content in their media purchases. Digital advertising represents 57% of all life insurance advertising. Bill grew up in Appleton, Wisconsin and graduated from the University of Wisconsin in LaCrosse, Wisconsin. He has been in the 26% real estate accident insurance industry for his entire career.
Bill lives in Centerville, Ohio with his wife Karen. They enjoy spending time with their three Newfoundland dogs, playing golf and bridge. Aaron has been with The Insurance Connection since June. He's been with the insurance agency for 31 years.
Aaron has his AINS API & and got them from The Insurance Institutes. Aaron currently resides in Mason and has three dogs. Increase your agency's revenues & Value Access to competitive Companies The Agency Foundation to help you establish your new agency Business Insurance Opportunities. Segmented marketing is a key component of effectively growing your business in the insurance industry; even more so when working in niche markets.
The program's business continues to outperform the commercial sector in terms of growth, but it is often difficult to determine which markets to enter and not effectively implement a segmentation and communication strategy. Here are some steps to help your agency enter and thrive in a niche market. Target a population of attractive auto insurance prospects based on their estimated financial profile and likely credit behaviors. She started out in the insurance industry as a telephone saleswoman, where she obtained her property and accident license, as well as her life and health insurance license.
Consumers don't sit around thinking about life insurance on a regular basis. Instead, they think about life insurance when they go through key life events, such as having a first child or buying a home. The insurance propensity segmentation segments*, based on anonymous and aggregated credit information from Equifax, combined with aggregated insurance values and annuity premiums measured directly, anonymized and collected from the country's leading life annuity manufacturers, offer a marketing medium aimed at consumer segments that are likely to have specific insurance proclivities.