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1、25YEARS OFINSIGHTSMarketing Trends 2025INSURANCEDM ME2How insurers market their products in the next year will have varying implications on growth and market share in the years to come.While P&C saw a slowdown in marketing in 2023,many firms will be looking to revamp their growth initiatives,hoping

2、to deploy innovative marketing techniques to capture market share.Life and health insurers face many obstacles,including the implications of an election year and political shifts on healthcare,alongside the economic impact on life insurance uptake.What will emerge in 2025 is the retooling of what ha

3、s been a tried and true channel for most insurers-direct mail.This transformation will blend with omnichannel interactions to enhance the overall customer experience.While direct mail has always been one of the most effective tools to reach potential customers,its evolution in recent years is what m

4、akes it even more notable.With advances in printing technology,artificial intelligence,and data analytics,direct mail campaigns can now be highly personalized and targeted.This allows for a more efficient use of marketing budgets and a higher return on investment.Not to mention,direct mail can be le

5、veraged to induce more digital engagement.Trend OverviewTrend EvolutionIn the evolving landscape of insurance marketing,direct mail is poised for a significant revamp,especially as firms rejuvenate their marketing budgets across key product lines.To take advantage of increased rates of shopping,grow

6、ing tech fatigue,and concerns about the effectiveness of digital advertisement,many brands will seize opportunities to innovate beyond traditional direct mail methods,particularly emphasizing the quality and creativity of their direct mail campaigns,while also sophisticating cross-channel strategies

7、.Amidst a noisy marketing scene and a softening insurance market,elevated direct mail strategies will have deeper impact in 2025.5Direct Mail InspiresOmnichannel EngagementSource:Lob&Comperemedia 2024 State of Direct Mail Consumer Insights webinar Visited the brandor service websiteSearched for theb

8、rand/product/service onlineBought a product/signed up for a serviceVisited a retail location to check out a product in personLooked up reviews of brand/product/serviceVisited another webiste looking for the product/service advertisedChecked the brand or services social mediaViewed other media to gau

9、ge others opinions on brand/service/productOther55%42%27%24%23%15%14%9%0%Specific Action Takenon Direct MailA particularly standout was GEICO which delved headfirst into digital marketing a few years back,virtually abandoning the direct mail space.However,while digital and television remain a key pa

10、rt of its ad strategy,beginning at the end of 2023,the firm increased its direct mail spend and mail volume substantially.GEICOs favorable underwriting alongside its move to appoint independent agents to sell its products means the company will likely only increase its usage of direct mail going for

11、ward and also affirms the continued effectiveness of the channel for growth.Whats Happening Now?Brands across industries are sophisticating their direct mail strategies to deepen their engagement with customers.The revamp of insurer direct mail is evidenced by both volume increases and creative inno

12、vation.As the first case in point,P&C brand increased acquisition mail volume in Q224 by 7.7%.Estimated Mail Volume(Millions)9008007006005004003002001002022 Q22022 Q32022 Q42023 Q12023 Q22023 Q32023 Q42023 Q12023 Q2Source:Comperemedia Direct 03/01/2022-06/30/2024 as of 08/08/2024Jan-23Feb-23Mar-23Ap

13、r-23 May-23Jun-23Jul-23Aug-23Sep-23Oct-23Nov-23Dec-23Jan-24Feb-24Mar-24Apr-24May-24Jun-248%6%4%2%0%6Personal Lines Quarterly Acquisition Mail VolumeGEICO Direct Mail Share of Spend(P&C Products)TRENDINGINSIGHTTRENDINGINSIGHTWhile the volume of mail serves as a primary indicator of this trend,its cru

14、cial to recognize that quantity isnt the sole metric.The approaches that companies employ in marketing their products play a significant role as well,whether its eye-catching designs,personalization techniques,or interactive elements used to capture the attention of consumers.Progressive stands out

15、as a pioneer in utilizing direct mail to enhance both its direct and agency channels,setting a benchmark that others,such as GEICO,might consider following.Despite the crowded nature of our mailboxes,Progressive has effectively captured consumer attention by incorporating striking imagery on their e

16、nvelope mailers,demonstrating a blend of innovation and strategic marketing to remain memorable.This approach not only showcases their market leadership but also underlines the importance of creativity in communication.GeicoProgressiveAAAAllstateAmicaThe HartfordState FarmTruStageFarmers Insurance G

17、roupAmerican Family InsuranceNJMErie Insurance GroupRoot InsuranceCSAA Insurance GroupLiberty Mutual Insurance Company00.10.20.30.40.50.60.70.80.91.07Geico Share of Panelist Overlap:What companies are targeting Geico prospects?Note:Panelist overlap is the degree to which these companies are targetin

18、g the same people GEICO is targeting.The higher the percentage,the more prospects they have in common.Source:Comperemedia Omni 01/01/2023-06/30/2024 as of 08/05/2024TRENDINGINSIGHTProgressive Envelope MailersThough digital channels have gradually become a bigger part of firms marketing strategies,di

19、rect mail remains a pivotal and high ROI channel.Majority sentiment no longer questions when digital channels will replace direct mail.Instead,it ponders how direct mail will transform in the consumer marketing journey with brands.Source:Comperemedia Direct 01/01/2024-06/30/2024 as of 08/06/20248In

20、the health space,brands like Wellpoint have leveraged direct mail as a bridge to its other channelsEven insurtech brands have awakened to the impact direct mail can have in building digital interaction.During the Annual Enrollment Period(AEP)for 2024 healthcare plans,insurtech Oscar Health saw an in

21、flection in direct mail spend where it leveraged a simple and attention-grabbing mail piece to induce customers to download its mobile app.The letter included a QR code for easy account setup.In the life insurance space,New York Life provided multiple calls to action sections in one of its mail lett

22、ers,all of which include a QR code.Source:Comperemedia Direct 01/01/2024-06/30/2024 as of 08/06/2024Wellpoints postcard effectively guides customers on how to access an online newsletter,providing clear instructions and visually engaging elements to enhance user experience.9Source:Comperemedia Direc

23、t 01/01/2024-06/30/2024 as of 08/06/2024Source:Comperemedia Direct 01/01/2024-06/30/2024 as of 08/15/202410New York Life had multiple calls to action in one of its recent lettersOscar Health PostcardAAA Mailer Utilizing QR Code ExternallyQR codes have emerged as an effective usage for carriers,offer

24、ing tracking capabilities,and more digital engagement,among other benefits.AAA has upped the ante by utilizing QR codes on some of its envelopes,giving customers direct engagement as soon as they receive the mail.Many companies utilize QR codes to direct customers to their quote page,eliminating bar

25、riers to entry and jumpstarting the consideration stage.Source:Comperemedia Direct 01/01/2024-06/30/2024 as of 08/06/202411Whats Happening Next?As we move towards 2025,we can expect to see even more innovation in direct mail.Brands will continue to utilize advanced data analytics and personalization

26、 techniques to create highly targeted campaigns.Additionally,cross-channel strategies will become more prevalent with direct mail playing a key role in driving traffic to digital platforms.DM Me will play out in varying ways,culminating in more direct mail and digital marketing innovation to thrust

27、carriers into growth in 2025.Insurance brands looking to stay ahead of the competition should keep an eye on evolving consumer behaviors and adapt their direct mail strategies accordingly.Jewelers Mutual personifies what the future will look like across much of insurance marketing.The brand offered

28、a text-to-quote option for customers via paid social,engaging them on that channel but subsequently leading them to an adjacent digital channel to complete the quote.12More Cross Channel EngagementIn another example from the financial services sector,Harborstone Credit Union used direct mail to give

29、 customers direct access to their social media handles,a tactic that could build upon cross-channel engagement.Insurance firms will look to create similar engagements,bridging their direct channels with social media.Source:Comperemedia Direct 01/01/2024-06/30/2024 as of 08/06/20241325YEARS OFINSIGHT

30、SExcited to learn more?This is just one of many trends Comperemedia is launching in 2025!If youre curious about how insurance marketing will adapt and evolve over the next 12 months and how your business should plan for the future,we have the answers.If youre a Comperemedia client,log in to your account for the full insight and analysis on our 2025 Trends,including what brands must consider when thinking strategically over the next few years.If youre not a client,please visit our website and get in touch.Wed love to hear from