Case Studies
Learn how other companies have advanced their marketing and sales efforts through strategies, tactics and training that have improved their content, campaigns and sales performance.
Poor Value Proposition
Who: Large, global insurer
The Challenge: The carrier’s product value proposition was very similar to their competitors and the underwriting team struggled to win new business in the marketplace. A competitive analysis and a series of interviews with product experts were conducted to define key areas of differentiated value and understand why these areas would be meaningful to customers. Once the company’s product messaging had been updated, current marketing materials were enhanced and new sales material created. Employees participated in training to ensure teams could effectively promote the product’s value proposition to clients and brokers.
Results: With powerful and differentiated product messaging, marketing campaigns were more impactful, and employees were able to effectively articulate to brokers and clients the key reasons why they should place their risk with the company, resulting in new business.
Competitive Threat
Who: Insurance agency
The Challenge: Auto insurance was being deregulated in Massachusetts and large carriers, like Progressive, were planning to enter the market. Regional carriers and agents were worried about losing this business. A marketing strategy was developed to help agents retain their clients, through offering a discount to customers who purchased both home and auto insurance. The marketing plan included branding, updating the agent’s website, new marketing materials, direct mail campaigns and advertising.
Results: The agent was able to retain over 90% of their auto business, while also increasing the number of home insurance policies. With their customers having more than one line of business placed with their firm, the agents decreased the likelihood of customers leaving and placing their business elsewhere.
Improved Sales Enablement
Who: Large, global insurer
The Challenge: The company had an inventory of marketing content with many pieces not being fully utilized. A content audit was done to understand what was working and what needed improvement. Interviews were also conducted to identify which marketing materials were most useful to the sales team and gaps were identified of where content was needed. Through this, a number of materials were sunset and new content created including a library of slides for prospect and client meetings. Marketing material was also reorganized to align with the various stages of the sales process. The company also lacked a process for ensuring its team was updated on new services or product enhancements. A monthly employee webinar called Opportunity Knocks was launched which featured various subject matter experts to train employees on new products, services and changes within the insurance market.
Results: The content better aligned with the company’s overall marketing strategy and objectives, and employees had easier access to more impactful content they could tap into during each stage of the sales process. The monthly training webinars increased the team’s confidence and effectiveness during sales meetings, resulting in increased business.
