The 4 Ps of E-marketing

By Stefan Eyram

PART 3 OF 4


(Part 1: Introduction and Permission)

(Part 2: Privacy, and Profiling)

(Part 3: Personalization, and e-Marketing Examples)
(Part 4: e-Marketing; Insurance Applications)


PERSONALIZATION

Simply put, personalization is getting the right message, with the right content, to the right person, at the right time and using the right medium. This is where the power of e-marketing really sparkles. When you have permission and have developed a best-of-breed privacy policy and follow it, your targets will hold your brand in high regard and will be very comfortable with you marketing to them. How do you get the best results out of this relationship?

Personalization will be the key in future e-marketing. The average online consumer has seen good and bad examples of websites and email marketing efforts. All are familiar with, and typically dislike SPAM. They have disregarded the vast majority of banner ads and interstitials (pop-ups) that have been pushed to them. Overall, your targets know what they like and don’t like!

A proper database and data acquisition strategy will allow you to know exactly what each person likes, what they want out of a relationship with you, how they want it, and when they want it. Web-based surveys are a great way to learn what customers, prospects and your channel want, how they want it and how often. With a proper e-marketing strategy that integrates online efforts with offline executions and personalization – optimizing individual relationships is within reach.

Personalization will be key to keeping permission over the long haul. In e-marketing the power is with the individual not the marketer. Any person can choose whether they visit your website – or not! They can choose to give you permission to send email to them – or not. They can choose to click on your banner ads – or not. If you cannot consistently provide value to each individual that you have a marketing relationship with, and do so at every touchpoint, you will quickly lose their interest�and their permission.

E-MARKETING EXAMPLES

Permission acquisition program (MethodMail/Dow 2002)

  • Objective: generate registration and acquire permission from customer base
  • Used online contest and an early-bird prize promotion
  • 33% registered online within 3 days of launch

Online acquisition contest (TD MelocheMonnex 2002)

  • Policy renewal reminder service
  • Online registration of policy expiry dates and key contact information in return for a chance to win a BMW SUV
  • Quickly building a database of insureds and their expiry dates

Loyalty program uses email to reduce cost of service (MessageMedia/Travel Company 2001)

  • Used email to reduce cost of regular contact
  • Personalized newsletters, other information and e-statements
  • Results: Cost reduction; Positive ROI was achieved

Up-sell program (MethodMail/Eyewire 2001/02)

  • Mined customer database to develop target segment
  • “Special Offer” sent by email to one-off purchase customers
  • Results: High percentage of recipients converted; Positive ROI in weeks

Segmentation and targeting (Metamail/Mutual Fund Co. 2001/02)

  • Online consumer contest generated large database of prospects with detailed profiles
  • Targeted campaigns (RESP, RRSP, etc.) offered value-add info and online tools
  • Results: customers, important learning, leads for telemarketing

“Push to Talk” – eStara/Continental Airlines (eStara 2002)

  • 92% of online users said a “Push to Talk” feature “GREATLY” or “SIGNIFICANTLY” enhanced online experience
  • 22% of callers (over 1,000) said they would have abandoned online reservation if not for “Push to Talk” feature
  • Results: 78% said they are “GREATLY” or “SIGNIFICANTLY” more likely to come back to the site due to the feature
  • “Push to Talk” feature on an insurance website could allow for online applications with the understanding that potential customers can default to speaking with a customer service or all centre rep

“Personalized” website (IMC/Manulife Direct 2002)

  • Intuitive and personalized experience based on click-stream
  • Marketing insurance using life-stage segmentation
  • This type of application is being used more and more to ensure a site visitor gets a relevant and meaningful experience

Self-serve broker site (Slingshot/P&C Insurance Co. 2001/02)

  • Database of FAQ’s
  • Linked to customer policies
  • Results: Significantly reduced call center traffic and allowed staff to focus on quality of calls vs. quantity

Content management for channel/agents (ICM Group/Financial Planning Co. 2002)

  • Content database with regular updates
  • Recipients created user profile and preferences
  • Website, email or print distribution of content (product/fund information)
  • Results: Channel/agents received only relevant information; quick ROI on print savings alone

Branded channel email marketing tools (Suggestion)

  • Technology solution and content from marketer (insurer)
  • Agent/broker adds personal content and branding
  • Agent/broker controls contact database
  • Results: Effective and cost-effective professional email communications from the agent/broker with a “rich” and consistent message from the marketer/insurer.

Stefan Eyram is Senior Director at Connectus Direct Solutions, a provider of best-of-breed e-marketing technology. For more information please contact Mr. Eyram via email at stefan@connectusdirect.com or by phone at 416-944-3760 ext. 228.