Mastering digital marketing – McKinsey
Article Synopsis :
As digital marketing becomes an increasingly important part of insurers’ marketing strategies, the key to success will not only be reaching customers but also engaging them. Understanding digital marketing and getting it right will be crucial and insurers who fail to adapt to the new marketing paradigm will be exposed to great competitive risk.
Have you mastered digital marketing?
In this interview with McKinsey’s Luke Collins, David Edelman, co-leader of McKinsey’s global digital marketing strategy group, highlights the current state of digital marketing and also looks at the challenges, fallacies, remedial measures, and the role of senior leaders in pushing their organizations to master the art of digital marketing. Key points discussed in the interview are:
- A different marketing model
- What companies get wrong
- What companies should do
- The challenge for senior leaders
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Digital Insurer's Comments
The era of traditional marketing campaigns is slowly being superseded by digital marketing and in line with other industries, insurers are increasingly using digital marketing methods to reach and engage with their customers. As customers’ buying behaviours shift, insurers must ensure their digital marketing campaigns leverage this shift. For example, customers are increasingly embracing digital to search, compare, buy, and manage policies and insurers need to rise to the challenge and respond digitally to keep up with this evolving customer behaviour. The following tools are already playing a crucial role while implementing a dynamic and effective digital marketing strategy.- Content rich website
- Mobiles and Smart phones
- Digitally engaging blogs
- Social Media (Twitter, Facebook, LinkedIn, Google+ etc.)
- Mass communication tools like emails and sms
Insurers need to act fast as failing to have a cohesive digital marketing strategy will result in a case of lost opportunity
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About the Author
Hugh Terry
Founder, TDIOther articles
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Hugh Terry
Founder, TDI
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