Understanding the insurance policyholder's customer lifecycle

Understanding the insurance policyholder's customer lifecycle

According to a recent Forrester’s survey, 6 in 10 of insurance customers say that all insurance companies are basically the same. While it’s true that all insurance companies provide the same basic services and products, no agency wants to be just another generic brand. To stand apart from the competition, however, it’s necessary to understand how consumers come to know your agency in the first place. In marketing terms, we call the journey from prospect to policyholder the customer lifecycle. Understanding where consumers are on their journey provides insights into how to best distinguish your agency in meeting their needs at each stage of the journey.


During the Discovery phase of the customer lifecycle, consumers are just beginning their search for an insurance product. They’re comparing brands, reading reviews, and compiling a list of questions. To capture prospects during this early phase, it’s necessary to ensure that your agency is primed for discoverability online and off. Your website’s SEO should make it easy for bots to find and deliver to the right audience, and your offline presence should lead prospects back to your online properties. 


Once the consumer has gotten a broad view of her field of options, she’ll begin to dig a little deeper to narrow down her choices. Which agency best meets her needs? Which agency takes time to answer her questions and meet her objections? Your website’s blog is a great place to provide answers to prospect’s questions before she even asks them. In fact, the more details you can provide about your products and services up front, the less research potential policyholders have to undertake to make a decision. 


Once your prospect has done her research, she’s ready to purchase. You should make this stage of the journey simple and intuitive. Avoid putting up any accidental obstacles to purchase and make it painless (and secure) to enter payment information.

Post-Purchase Engagement

Getting a client on board is a challenge, but winning the client shouldn’t be the last step in your marketing strategy. Once a prospect becomes a policyholder, you want to ensure that you keep her for good. Fortunately, at this phase, she’s begun to provide critical data that you can use to enhance her experience and improve your ability to serve her. Use that information to deliver helpful blog posts, engaging social media, and profitable cross-sells.


If you’re making concerted efforts at post-purchase engagement, you’re building a long-term relationship with your clients. You’re showing them that they have value to you beyond their premiums. When you really win over a client, you gain the greatest marketing advantage: word of mouth marketing. These policyholders will create more reviews and more good press that will aid new prospects during the discovery phase of their own customer lifecycle.

Need help building out a comprehensive marketing strategy that enhances your clients’ touchpoints at every phase of the customer lifecycle? Contact the marketing experts at AgenciesOnline today!