Market Segmentation for Insurance Firms A Technique to Better Connect with Your Customer
The world’s most sophisticated companies use marketing segmentation as a powerful tool to connect deeply with their customers. Insurance is a general field that can offer meaningful services from vertical markets ranging from retail to government sectors. However, the best way to win clients is to communicate with them in their own language and demonstrate competence in their home market. As the Internet, by its very nature, attempts to combine multiple markets, one unified website cannot easily communicate vertical market knowledge.
This article will discuss a technique for the use of micro-sites on the Internet with state-of-the-art platforms such as Ocoos. Large companies that have easy access to resources and programming talent use this micro-site approach to build portals that speak directly to a marketplace. Until recently, this same capability has not been available to small firms. However, with a state-of-the-art platform such as Ocoos, small insurance firms can employ this strategy with great effect. So how do they do this?
- Identify the market segments of interest (example: real estate, commercial, etc)
- For each segment, build a web presence within the Ocoos Platform. The friction for doing so is small because of the minimal cost in time investment and cost .
- If the marketing positioning for vertical marketing is not clear, the Ocoos platform provides excellent tools for discovering and verifying the communication (ptr to article).
- Build market-specific communication in terms of articles and social network activity.
- Integrate the enterprise by building pointers from your main site to the Ocoos micro-sites.
What is the impact of the above approach for your insurance firm?
- You can communicate clearly with your clients in their own language. This will build your reputation as well as your position as a thought-leader in that marketplace.
- You can build social/business networks specific to a market, which will make it much more likely that your membership will naturally share your information through the network.
- Finally, all the market-specific information will make search engines more likely to find you, because you will be naturally operating in limited spaces.
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