By 2015, smartphone penetration per capita is projected to reach 81% in North America, according to Statista. With consumers constantly connected, the look and feel of marketing and customer services are fast evolving across industries.
Using Mobile For A Better Customer Experience
For example, auto insurance companies have been taking advantage of mobile technology to gain a competitive advantage, offering customers easy ways to engage and access services. Companies like Liberty Mutual and State Farm have launched apps that empower registered customers to make payments, locate an approved repair shop, document an accident, contact an agent, and many more routine functions directly from their mobile device.
Reaching Mobile Audiences
Smart insurance brands are also leveraging the powerful slim devices inside everyone’s purse or pocket to get in front of new audiences. Allstate Insurance has run ads on Tapjoy’s mobile network to grab the attention of mobile gamers, while Progressive ran a mobile campaign within the Word with Friends app, which had users play Progressive-themed words.
And let’s not forget Flo, one of Progressive’s favorite mascots. While we’ve all seen the commercials on TV, Progressive has used the beloved fictional character to garner attention on social media, with a whopping 5.4 million Facebook friends (compare that to Progressive’s company page which has only 261,000 friends). It’s a great example of a cross channel campaign that engages consumers through traditional, social, and mobile media.
Using the Right Mobile Metrics
Mobile may have propelled insurance customer acquisition and customer service into new and impressive realms of fun, convenience and personalization, but it won’t amount to much without the right metrics. According to Forrester research, “Mobile is a top business priority for insurers because of big expectations for business outcomes,” as detailed in the chart below.
But prioritizing mobile is not enough. Having general, high-level goals like building loyalty or increasing customer engagement is not enough. Insurance companies need clearly defined metrics that indicate real performance. In their new report, “The Mobile Insurance Metrics That Matter,” Forrester explains some of the common challenges insurance brands are facing when it comes to measuring and justifying mobile’s impact on the bottom line. Among them include:
- Accurately defining mobile success
- Proving mobile business value
- Justifying current mobile investments and validating future ones
After all, how do you attach bottom line success metrics to Flo’s 5.4 million friends on Facebook? Something is obviously working, but working to accomplish what is the real question. In order to prove mobile’s business value, insurance marketers need a quantifiable measurement framework, but few marketers have insights beyond the basics.
Get the Resources to Help
Measuring mobile’s success is no easy feat, luckily, Forrester has done most of the legwork for you. Get Forrester’s recommendations in their new Strategy Playbook: The Mobile Insurance Metrics That Matter. The report will walk you through a five-step process to ensure your mobile strategies will drive success and deliver against increasing ROI scrutiny.