With today’s advances in segmentation, modeling and analytics, it is relatively easy for insurance marketers to target people under age 65. The challenge, however, is to find those under age 65 who are in need of real insurance. Real insurance being coverage for those people who need to purchase their own primary insurance coverage – not supplemental products such as HIP, HAP or AD&D. These prospects are typically self-employed, early retirees, employees of small companies that don’t offer insurance, and those in between jobs and/or school.
This target group is not a homogenous one. As part of a large, diverse group of those ages 18 to 65, they cut across generational lines, and, therefore, have different value sets. What’s more, their wants, needs, and preferences vary. How then, can insurance marketers reach these segments and influence an insurance purchase decision?
The answer is to use the time-tested tenets of direct marketing with the first step of getting a prospect to raise his/her hand. There are a variety of “broad market” media channels to use for this purpose, including free-standing inserts, direct response television, run of press print advertising, electronic (Internet and e-mail) and saturation mail. Broad media such as these allow the under 65 prospect – a prospect who is difficult to identify – to self-identify.
Click below for the white paper
http://www.dmnews.com/pdffiles/targeting.pdf
