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28th August 2020

5 Reasons You Should Invest in Insurance Content Marketing

The importance of having insurance doesn’t necessarily correspond to how often we think about it. However, insurance companies can make use of content marketing to interact with potential customers and policyholders. It should be noted that this is not a straightforward journey at all; it can be demanding. It’s not as easy to create engaging content for insurance customers as it is with B2B marketing.

The latter tends to offer insight on how to excel in the workplace while the former is entirely different. For insurance companies, it can be a daunting task trying to pique the interest of their consumer base, unlike most B2C brands. So, what can they do about it? For starters, they need to establish a balance between making the content engaging for their consumer base and making it accustomed to their brand’s image. Insurance companies can have the upper hand by applying creative means to their otherwise boring image.

Here are five reasons why insurance companies should invest in an effective content marketing strategy:

1. Strengthening Relationships with Existing Policyholders

While engaging content can promise a lot of potential customers, don’t forget about your existing ones. Effective content marketing keeps insurers in the back of the policyholders’ minds at all times. People don’t often think about their insurance aside from paying their premiums. By effective insurance copywriting, a better relationship can be formed between the insurers and their policyholders. This can bear a substantially positive impact on retention rates, and ultimately benefit your company in the long run.

2. Engaging Your Target Market

The primary issue insurance companies face is getting people to trust them. According to the EY Global Insurance Survey, UK consumers trust banks more than they trust insurance companies.

In today’s world, small business owners don’t have enough time familiarise themselves with insurance policies. Insurance companies must address this challenge by producing informative yet engaging content that will allow these people to make informed choices about their protection needs.

Blogs are one way to provide a detailed outlook to your potential consumer base and highlight why growing businesses need insurance policies to remain successful in the long run. In fact, it has been proven that effective content marketing can allow insurance companies to grab the interest of even the busiest of audiences that have high expectations and relatively low attention spans.

3. Keeping Up With the Competition

Nowadays, if you wish to stay relevant in the UK’s competitive market, you must have a firm content marketing strategy in place. According to a 2018 study by the Institute of Content Marketing, 86% of businesses employ content marketing, with 45% expecting a substantial increase in their content marketing budget over the next year.

It should be no different for insurance companies if they wish to stay relevant and ahead of the competition as well. Even though it might be more challenging for insurance companies to create engaging content that will rein in substantial ROI (Return On Investment) in comparison to others, proper use of content marketing can yield tangible results.

Aviva is currently the leading insurance company with more than 15 million consumers in the UK. It has pioneered the use of digital tools to make everything easier and quicker for its customers. These very tools also allow Aviva to create digital experiences and build long-lasting relationships via appropriate and engaging content.

If we talk about the Aviva Plus initiative, it is evident that the company has appealed to a mass audience by developing an industry-first subscription insurance policy. It aims to rebuild the general public’s trust in the insurance industry by treating existing customers the same way as new ones. This means that existing customers will be offered the very same deals as new ones whenever their policy is renewed. Moreover, the company has eradicated all extra monthly charges, including policy amendment and cancellation charges.

4. Change public perception

It should be clear by now that insurance copywriting can be successful if its focus lies primarily on educating the target audience. Insurance companies have garnered a bad reputation over the years, with some accused of selling deceptive policies and others of delaying payouts for as long as possible. Thus, it’s not going to be an easy sell for content marketers. But this opportunity could be used to educate the general public through your content about the benefits of insurance.

Content marketing is only effective when it offers something of tangible value. That is why it should be educational and relevant so that it can engage audiences. You could write some blog content to address common questions or create video case studies that illustrate how insurance helps people get their lives back on track. 

5. Consumers Prioritise Content Over Advertising

As the consumer base tends to become more and more sophisticated, its underlying interest in traditional advertising fades correspondingly. People have started to learn that they should prioritise their buying decisions and research over seemingly attractive advertisement campaigns. To rank high in the potential consumer’s purchasing consideration ladder, insurance companies have to produce helpful and educational content.

  • According to the Content Marketing Institute, business copywriting gets three times more leads in comparison to paid search advertising.
  • According to the Demand Gen Report from 2016, 47% of consumers analyse three to five pieces of content before talking to a salesperson. Moreover, it says that 96% of B2B buyers wish to have content written by industry experts. 

With all of these benefits, it should be evident how pivotal insurance content marketing really is. WooContent is an insurance copywriting agency that understands insurance content marketing. You can count on our impeccable insurance copywriting service, so if you’re an insurance company that needs help with its contact marketing, please contact us today.

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