Revolutionize Digital Relationships with Contextual Guidance
When digital-first insurance companies successfully devised ways to acquire new customers without ever talking to them, traditional insurance companies took note. Since these experiences take less time and require less pain, many companies are now prioritizing digital customer acquisition without human intervention.
While reducing the number of human contacts can save money, insurance companies must not forget the power of human interaction. In his article, “3 Ways to Build Digital Relationships” featured in Insurance Thought Leadership, Brian Strauss reveals how companies can enhance customer engagements while also acquiring more digital customers at scale.
Contextual Guidance Engages All Customers
Many companies today are providing more contact options for their customers as they believe it’s a win for their clients. Yet when it comes to acquiring new customers, this omni-channel engagement strategy proves generally unsuccessful. Adding more channels increases costs, robs profits, and often confuses customers. No matter how well you design your site, some customers will always need help.
So, what’s the solution? According to Brian Strauss, the answer is contextual guidance. Strauss, VP of worldwide field engineering at goMoxie, argues that by leveraging real-time analytics to anticipate when customers are struggling, you can offer next-best actions. These engagements can be served up to anyone and everyone who needs help. Best of all, contextual guidance can boost conversion rates anywhere from 25% to 400%!
Leverage the Power of Relationships
E-commerce companies, including banks and insurers, typically neglect to show their customers that they understand their relationship. If a customer saves a quote, leaves to comparison shop and then returns later, your site should not look the same as it did the first time the customer arrived at it.
To truly engage your customers, combine functionality with guidance. When a customer returns, provide a welcome back greeting. Offer to let customers revisit where they left off and take them right back to where they were during their last visit. Don’t require customers to remember what they were doing or find their way back all on their own – guide and engage them!
Implement Long-Term Relationship Goals to Build Life-Time Value
If a customer completes an online transaction, it doesn’t mean that the battle has been won. Additionally, a single abandonment doesn’t mean that all hope is lost. For E-commerce companies to be successful, they must create a strategy to build value and grow revenue from a customer over the long term. Using real-time analytics, developing an engagement strategy, and deploying relevant engagements are a few key components of a successful long-term relationship goal.
Contextual Guidance Clears the Path to Increased Digital Profitability
An insurance relationship doesn’t have to be a painful necessity that consumers loathe. As insurers use technology to reduce human contacts required to bind policies, they can still enhance their relationship-building abilities. Analytics, AI, and customer engagement can revolutionize digital relationships better than an entire call center of humans ever could.