Using real time data to adapt to consumer demographics and behavior

1. USING REAL TIME DATA TO ADAPT TO
CONSUMER DEMOGRAPHICS AND BEHAVIOR
RevolutionizING How Business Is Done
Prepared for PIMA AFFINITY 2020

2.  Cloud-based multi-channel marketing, sales and enrollment
software that emulates and improves on face-to-face selling.
 Trusted by Fortune 100 carriers, national and regional TPAs.
 Revolutionizing the way the world sells financial products.
AFINIUM:

3. ENGAGE YOUR CUSTOMERS ON THEIR TERMS.
SELL MORE FINANCIAL PRODUCTS.
IT'S THAT SIMPLE.
INFORMATION:

4.  Billions of dollars are spent on personalized
outbound marketing and digital media.
THE PROBLEM:
 For most customers the internet engagement and
buying experience is not personal or dynamic and
does not reflect real time data & insights.
 Most web portals cannot dynamically adapt to
each demographic, customer group, and to each
individual customer.

5.  If you don’t know who you’re talking to, it’s
almost impossible to be relevant.
TRUTHS OF CUSTOMER ENGAGEMENT:
 If you can’t get your message delivered at the
right time, it doesn’t really matter how good it is.
 If you can’t decide which of your offers are most
appropriate, you can’t expect your customer to
do it for you.
 If you’re not managing the journey your
customer is on, someone else is.

6.  Billions of dollars are wasted because digital
marketing is not integrated with the end-to-end
customer search, sales and buying experience.
THE REALITY:
 The customer is not engaged and valuable
customer data, insights and sales are lost.
 Customer data is rarely centralized, analyzed or
used to influence “real time” buying decisions.

7.  Your e-marketing / communication platform
needs to be fluid enough to change and
adapt to each demographic, customer group,
and to each individual customer.
DEMOGRAPHICS & MARKETING:
 Customers expect a consistent, quick,
personal and engaging buying
experience across ALL digital channels.
 Enriched data / analytics will allow
your marketing agency to
continuously improve ROI.

8. IT’S A 24/7 DATA-DRIVEN DIGITAL WORLD:
85% of people said they would use the
Internet in some way to purchase a life
insurance policy, regardless of how they
eventually make a purchase*.
80% of consumers cited more
personalized service as important or very
important in their decision to switch to a
new insurer**.
“82 percent of respondents say that personal interaction is
what drives policy holder enrollment.” **
* LIMRA and The Life Foundation Study 2013
**Accenture survey February 2014

9. 38%
74%
Purchase history
45%
70%
User preferences (explicit customer preferences, e.g. Interests)
33%
68%
32%
65%
29%
62%
65%
54%
9%
50%
11%
40%
Behavior on your web properties
Interactions with the brand history (including message opens, clicks)
Browser history (including referrer, search term, ad viewed)
Personal data (including name, gender, location)
Social graph data
Behavior on your mobile apps
25%
Third-party demographic data (e.g. Acorn, Mosaic) 8%
Proportion of companies using Proportion of companies saying impact on ROI is high
PERSONALIZATION DATA TYPES USED – AND THEIR IMPACT ON ROI
Based on a survey of company marketers primarily from the UK
MarketingCharts.com | Data Source: Econsultancy / Adobe
December 2014

10. Insurance sector shows highest response rates across
all industries for personalized campaigns
Industry Campaigns Visit Rate Response Rate
Advertising, PR & Marketing Services 22 5.61 3.42
Apparel & Accessories 2 13.3 0.18
Art, Media & Entertainment 7 4.32 2.74
Automotive 136 1.54 1.12
Construction 4 1.04 0.38
Consumer Electronics 2 3.59 2.4
Education 92 3.24 2.01
Financial Services 60 4.28 3.15
Food & Beverage 1 1.51 1.49
Furniture & Appliances 1 3.65 2.23
Government 5 11.97 8.40
Health Care 22 3.93 2.10
Hotels & Travel 3 3.37 0.36
Insurance 13 13.88 10.7
IT, Software & Hardware 16 4.25 2.12

11. “The difference between static and data-
driven, dynamic enrollment is like the
difference between having a great black
box recorder and an outstanding pilot…
…If you can’t measure it, you can’t fix it,
and if you can’t fix it in real-time you will
lose sales and lose customers.”
DYNAMIC VS. STATIC ENROLLMENT PORTALS:

12. Insurers must deliver an Integrated and Personalized end-to-end
experience across these key pillars:
 Personalized marketing & customer buying experience
 Adaptive & fluid buying process based on demographic,
profile & behavior
 Integrated Technology Platform
 Policy Holder Outreach
 Analytics Platform
DATA DRIVEN ENGAGEMENT – HOW?

13. THE COMPONENTS:
Personalized Marketing & Customer Buying Experience:
Information is passed to a unique landing page based on
pre-determined search keywords and parameters / demographics
and all known data.
The landing page adopts the brand of the Association / Affinity
member group (if any) and speaks in a language, tone and manner
that is optimized for each customer profile.
The search and web experience should be device-specific and
should recognize and self-adapt for mobile.

14. THE COMPONENTS:
Adaptive buying process based on demographic,
attributes, behavior:
The landing page dynamically adapts its content and tone as customer
information and behavior is gathered.
Web based call center routing /live chat enables a potential customer
to speak with the right person with the right information to advise
and convert them.
Context based avatars and 800 numbers can be triggered based on a
customer’s unique online search history, and during application process.

15. THE COMPONENTS:
Integrated Technology Platform:
Creates end-to-end consistency across all channels, ensuring all
information is available at all times, including purchase history and
profile preferences.
Data across all channels is aggregated and analyzed to measure and
improve every aspect of customer marketing, engagement,
and buying experience.
Content, products price, and processes can self-adjust it (in real time)
to optimize each customer buying experience based on their specific
demographic / profile.

16. THE COMPONENTS:
Policy holder outreach:
Delivers personalized interactions for cross-sell and up-sell based on
new information during the search / buying process.
Proactively recommends complimentary products, gives personalized
reasons for new products during a major life event like moving
or a new baby.
Example: Nationwide used a rules-based proactive live chat to reach
out to consumers who stayed on pages too long. The program
captured upwards of 40 percent of at-risk users, with an average chat
experience satisfaction score of 4.08 out of 5, and the company
recuperated the associated costs of the program within eight months.

17. THE COMPONENTS:
Analytics:
Analytics can help companies know WHEN, WHAT and HOW to
communicate to customers and prospects, predict prospect and
customer actions, optimize offers based on history, and identify when
shoppers are ready for outbound calls.
By linking the ‘before enrollment’ marketing data to the ‘live’
enrollment data, you can leverage and improve acquisition rates.
You can measure and test what works best, and change it, even
during the live sales process, to continuously improve customer
acquisition ROI.

18. Platform Examples:

19. FULLY CONFIGURABLE JOURNEYS…

20. …CUSTOMIZED ANY WAY YOU LIKE
Let’s Make This Easy Let’s Make This EasyLet’s Make This Easy

21. EVENT-TRIGGERED VIDEO / LIVE CHAT

22. CONTEXT-BASED VIDEO
Triggered by client profile and behavior.

23. INTELLIGENT CALL CENTER/BROKER AND
SALES-CHANNEL INTEGRATION/ ROUTING:
Welcome to the portal. I will
Be on hand to help you with
Your applications as you
Move towards completion.
Keep an eye out for text like
This throughout your
Journey, as it will often help
guide you.
If you require live assistance,
You can call our help-line at
1-888-123-4567 or click here
to have an agent call you.
CAN I
HELP?

24. HTML5 AND MOBILE-DEVICE SUPPORT
Desktop Version Mobile Version

25. HTML5 AND MOBILE-DEVICE SUPPORT

26. MULTI-LEVEL REPORTING
Provides valuable insights to carriers, marketing agencies, brokers and clients.

27. LIVE DATA ANALYTICS & SELF-LEARNING

28.  Interpret and understand individual behavior and
preferences.
 Instantly steer the conversation or transaction,
using predictive signals and algorithms.
 Ensure sales opportunities are never missed or lost.
DATA ANALYTICS TO:

29.  Intelligent capture and use of customer data in
‘real time’ is the key to consistently increasing
your ROI.
 Personalizing the end-to-end customer
experience with dynamic, interactive and
personalized content leads to increased sales.
THE FUTURE IS NOW

30.  New cloud-based technology allows this to be
done seamlessly and easily, and on a much larger
scale than previously possible.
 Welcome to world of the “Virtual Advisor” and’
“Infomediary” that can work 24/7 to leverage your
channel and client relationships.
THE FUTURE IS NOW

31. AFINIUM LTD
83 CAMBRIDGE STREET
LONDON SW1V 4PS, UK
www.afinium.com
403 GREENWICH COURT
NEW HOPE, PENNSYLVANIA, 18938, USA
00 1 (0) 215 862 3080
00 1 (0) 703 862 5715
QUESTIONS?