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Insurance: Brand Building Action Points

Brand Building Action Points

 

1.     Build the brand

Brand is important. Even in markets where insurance purchasing is a price-based decision, often made online using an aggregator, brand helps consumers choose from a list of similar offers.

 

2.     Go beyond the badge

Displaying the logo at sponsored events to build awareness is fine. Move beyond building awareness of the brand to present its advantages. This change is especially important for reaching younger audiences that need more reasons to make a purchase.

 

3.     Communicate with relevance

The delivery of the claim or the message needs to be relevant to the touch point. How the brand appears on the wall of a stadium should be different than how it appears at a bus stop, for example. The message may be the same, but to deliver it most effectively, it is important to understand why the moment matters to the consumer.

 

4.     Communicate with simplicity

Communicate clearly and make it easy for the customer to purchase or renew a policy. Being clear and straight forward, but not patronizing, can be especially important for reaching young people and women.