The realities of today’s digital marketing landscape – Sitecore
Article Synopsis :
The insurance industry is unique in several respects but when it comes to digital marketing, carriers are attuned to the same metrics and KPIs as companies in other industries. Activities such as content profiling, personalisation, IP lookup, and campaign management, crucial to digital marketing ROI, are essentially industry agnostic.
In the report “Uncovering the realities of today’s digital marketing landscape”, the Sitecore team share key findings from a recent survey of 330 marketers and web developers from various industries. The report provides an overview of the channels, tools, return on investment, and barriers to success for digital marketing. Although the report is not insurance specific, the trends discussed are highly relevant for the sector. Worth noting, 20% of survey respondents are from Banking/Insurance, the top weightage of any sector.
There are four key takeaways, relevant to business leaders and not just digital marketers:
- Digital marketing spend is still on the rise.
- 73% of respondents will spend significantly more on digital over the next 12 months
- Only 2% plan on spending less
- 33% of respondents will spend less on offline marketing
- Digital Marketers use too many disparate tools [list type=”check”]
- Only 17% of respondents rely on a single platform for all digital marketing activities
- Nearly three-quarters use multiple platforms to accomplish their goals, limiting the ability to deliver a seamless customer experience
- Predictive analytics is the next big thing. [list type=”check”]
- Over the next 12 months, 44% of respondents plan to use predictive analytics, up from 18% currently
- Return on investment measurements need work [list type=”check”]
- Most respondents rely on website visits as the primary measure of success.
The report delivers useful analysis around planned marketing spend, channel mix, digital marketing tools and techniques, areas of improvement, ROI tracking, and web analytics usage.
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Digital Insurer's CommentsBrand-building used to be all about print, radio, television, direct mail, and trade shows. While these mediums still matter a great deal, today nearly 40% of the typical marketing budget is digital – targeted email to internal and external contact lists, social media, display ads, paid search, video ads, webinars, web analytics and price comparison sites.
Sophisticated digital marketers in other industries have an impact on insurance in that their best practices raise expectations of digital users in general. High-quality websites and portals are table stakes. An integrated digital marketing platform that’s dynamic and enjoyable across the complete spectrum of marketing channels and devices is, in insurance, a true differentiator.
Build it and they will come.
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