In the latest MFTV episode, we discuss why marketers should always tie Key Performance Indicators to the goal of their digital campaigns.
Both financial and insurance products can be difficult to understand, with a dizzying array of details. While it’s important for consumers to have sound financial and insurance plans, the inherent complexity of these products often creates a barrier to action. Fortunately, there are a few ways that we as marketers can make the process less intimidating and more manageable.
- Use Simple Language
Financial services and insurance products are filled with terms that the average consumer may not understand. That confusion can lead to distrust of the products and services, and the company providing them. The solution is literally simple: use simple language.
As much as possible, technical terms should be replaced with everyday language. Think about how members of your target audience would talk to each other about financial and insurance matters. That’s a good guide as to what language you should use. If this is something new for your company, you’ll also want to make sure that your compliance department understands what you’re trying to accomplish and why to help head off any issues.
- Give Information Freely
Too often, we as marketers focus on capturing leads above all else, requiring consumers to offer contact information and other personal data before giving them access to specifics. There’s no question that leads are extremely valuable. However, there is something that’s even more valuable: building trust.
Providing potential customers with the information they need to better understand your product or service and how it may fit with their goals is a great way to create confidence that your organization truly wants to be helpful.
An added benefit of providing more information is that consumers can be self-vetting. Seeing what is included, how much it costs, etc., allows potential customers to figure out if they are really interested in making a purchase. While some good targets may opt out of the process, those leads you do capture are not only more likely to become customers, they’re more likely to remain customers.
- Make it Easy to Act
Complex offerings need a depth of support that lower involvement items do not. So once consumers want to take action, make it as easy as possible for them to do so. A call to action should be easily found throughout any marketing materials, whether that’s a phone number, an email, click-to-chat, a website link, downloadable information, or any other means to facilitate further contact.
Financial and insurance products are complex. Consumers’ demands are diverse. However, as marketers, our goal should always be the same: to simply and efficiently provide potential customers with the information they need to find the product or service that best fits their needs.
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