In a world where consumers are bombarded with advertising messages at every turn, it can be difficult to break through the clutter and reach your target audience. However, there is one marketing tool that has been shown to be incredibly effective in engaging consumers and driving results… Personalized Videos.
When used correctly, personalized videos can help insurance companies achieve a number of objectives, including increasing brand awareness, generating leads, boosting sales, and improving customer retention. Here’s a closer look at some of the ways that personalized videos can benefit your business.
What is a Personalized Video?
Personalized videos are video messages that are specifically tailored to each individual customer. They usually include the customer’s name and other information that is specific to them. These videos are a great way to show your customers that you know them and that you care about them. You can read more about what Personalized videos are here.
Generating Leads with a Personalized Video campaign
One of the most common goals of marketing campaigns is to generate new leads. And there’s no doubt that personalization can be a powerful lead generation tool in the insurance sector. In fact, according to one study, sending personalized videos can increase conversion rates by as much as eight times, and these personalized videos can be sent using your standard customer experience or customer communications platforms, so won’t increase your marketing efforts.
Personalized videos can be used in a number of different ways to generate leads. For example, you could use them in email marketing campaigns or on social media platforms. You could also embed them on your website or blog or use them in targeted advertising campaigns. No matter how you choose to use them, personalized videos will help you capture the attention of your target audience and significantly boost your leads.
Increasing Sales with Personalized Videos
In addition to generating leads, personalization can also help you close more sales and boost revenue for your business. That’s because when people feel like they have a connection with your brand, they’re more likely to do business with you.
Think about it this way: if you were considering buying two similar products but one was from a brand that you knew and loved and the other was from a brand that you’d never heard of before, which would you be more likely to purchase? Most people would choose the product from the brand they knew and loved—even if it cost a little bit more.
That’s why using personalized videos to create an emotional connection with your target market is so important. When done correctly, personalized videos have the power to increase brand awareness, build trust, and boost sales—all of which can contribute to increased revenue for your insurance business.
Improving Customer Retention with Personalized Video
In addition to generating new leads and closing more sales, personalization can also help you improve customer retention and loyalty to your brand.
A recent report states that 82% of customers say that they will continually buy from a brand they trust. Using personalized videos is one method of increasing this trust and therefore retention rates.
There are a number of different ways that you can use personalized videos to improve customer retention rates for your business. For example, you could use them as part of a welcome series for newly insured customers or as follow-up communications after someone has made a purchase or a claim. You could also send them out as birthday greetings or thank-you messages to show your appreciation for your customer’s business. No matter how you choose to use them, personalized videos will help you keep your customers coming back for more.
Best practices using personalized video within the insurance industry
There are a few best practices that insurance companies should keep in mind when using personalized videos.
Make the personalized video message relevant.
It is important to ensure that the video personalization is relevant to the customer. The personalized video should be tailored to the individual customer’s needs and interests. This can be personal details, or information about the actual insurance plan that they have purchased, such as the plan name, policy details, coverage, etc. Or this can be information about a prospective plan based on their demographics. There is nothing worse than sending a retirement insurance plan to a 21-year-old, or a family insurance plan to a single person.
What’s your customer’s name? It should be the first thing you show in every video! This is because it signals that this particular video will differ from all of those generic, boring brand commercials they may have seen before. Early personalization significantly improves engagement and loyalty for both companies who use voiceovers on their videos as well as viewers themselves by making them more invested in what unfolds before them – which ultimately leads to higher conversion rates overall.
Make it concise.
The video personalization should be concise and to the point. Customers do not want to watch a long, drawn-out video. For great customer success, we recommend keeping the video to a maximum of around 60 seconds, anything longer than this the viewer switches off.
Make it engaging.
The video should be entertaining and engaging. It should tell a story that captivates the customer’s attention. There is nothing worse than trying to watch a boring linear video. Using interactive elements within the video to guide the viewer along the journey or using interactive CTAs in such videos to get straight to the point is a great start.
Use a strong thumbnail.
Your video’s thumbnail should be eye-catching and relevant to get viewers interested in watching the whole clip. Don’t just use any old image, make sure it speaks well for your content by using an enticing title or providing some context about what they will see when loading up their browser window before clicking play. Speaking of clicking play, also make sure the view knows it’s a video by having a big play button, the viewer needs to know that the link is a video, and they need to hit that play button.
Make sure to have a CTA.
The video should include at least one call to action. The customer should be given a clear step to take either during or after watching the video. Without this, what was the point of the viewer watching the video? with CTAs embedded within your personalized video, you will always get an increase in your click through rates and response rates.
By following these best practices, most insurers can use personalized videos to improve customer engagement and loyalty and will gain a valuable increase in your marketing success.
As you can see, there are many reasons why insurance companies should consider using personalized videos as part of their marketing campaigns. Personalized videos are an incredibly effective way to engage consumers and drive results—so if you’re not already using them in your business, now is the time to start with the Mediawide Interactive Personalized Video Platform.