Personalized Print And Digital Marketing Yield Savings For Agencies, Insurers
Cutting costs, personalizing communications, saving time and reducing errors sound like answers to the problems a sluggish economy has created for any industry. And one way the insurance and financial services industry may be able to achieve those goals is by using personalized print and digital marketing technology.
Personalization and digital marketing allows you to transform communication materials from a static print run to an individualized campaign, where every page is unique as it contains specific data directed to individual consumers.
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Personalization is not a new buzzword, rather it is a concept and solution offering that has been in development over the past several years.
Digital marketing and personalized print have had a tremendous impact in communication between consumer and company, concentrating on developing relationships instead of the traditional method of mass dissemination of information in the hopes it reaches the right place.
The most significant developments in personalization and digital marketing have been in technology within the print industry, allowing creation of highly personalized marketing campaigns, while keeping costs low enough for it to be worth the investment to gain the desired return.
Digital marketing strategy involves using customer or prospect information to develop customized or personalized content that targets the right information at the right time to the individuals who are most likely to respond to it.
More focused, interactive and knowledgeable communication with clients makes better use of marketing budgets and achieves greater results. Utilization of database information and personalized printing has created an avenue to develop these unique pieces. These current technologies are also in compliance with the HIPAA regulations.
The process of migrating current static materials like those addressed to “current resident” into personalized communication pieces that are targeted to an individuals interests, requires the use of consumer data. Consumer data falls into several categories including, demographic, psychographics, geographics, firmographics, job function and purchasing patterns. Much of this information can be extracted from databases currently in place within many organizations, where such information is virtually untapped.
Applications of digital marketing and personalized print are being customized by specialized communications firms to meet the needs of underwriters, agencies, brokerages, TPAs and financial services organizations, ensuring that their specific market needs are met.
Each industry sector has its own needs and objectives, and not all applications are a “one size fits all” solution. By breaking down the basic components of business, however, we can begin to see where there are applications for digital marketing and personalized print. Not all categories will apply to all business models.
The first category that applies to digital marketing is transactional documents. In the insurance and financial services industry, the use of statements, invoices, forms, EOB, EOP checks and policies represents a common denominator.