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September 9, 2011, 4:06 am UTC
Today’s consumer is not happy with a broad-spectrum message wrapped in the form of advertisement; he wants a more specific message truncated as per his needs and desires. Looking at the high price of conventional advertisement, marketers also turn to the new media to give their consumers a special blend. But the question is that how many brands across industries are able to cater to their target in the best possible way.
Brands of all stripes are working toward delivering personalized messages to their target audiences. Despite their best efforts, however, consumers say certain industries are not meeting their needs. Service providers, such as cable and utility companies, and regulated companies, such as insurance and finance brands, appear to be behind the curve in terms of delivering personalized digital experiences.
A survey from communications firm Thunderhead conducted by YouGov showed that fewer than half of consumers were pleased with how their cable providers use digital channels. Moreover, only 39% of insurance customers said they think their providers cater to them in the digital channels they prefer.
This digital gap appears to be particularly prevalent among finance, utility and insurance companies. The YouGov survey dug deeper into the insurance category by looking at the ways US internet users would prefer their insurance provider communicated with them. Seventy percent of respondents said the email channel would be at least fairly useful. Roughly one-fifth of respondents listed the mobile channel (either through SMS of mobile apps) as a preferred communication channel, and 11% said they would find it useful if their insurance provider would get in touch via social networks.
And in India most of the insurance companies believe that it will be awful to disturb somebody in their personal space also it’s a commonly known notion that people use social networking and mobile apps for their entertainment purpose and not to discuss a grave issue such as insurance or schemes.
An Accenture health insurance study complements some of the YouGov findings that insurance companies are struggling to meet consumer digital demand. According to Accenture research, there’s a gap between what matters to the customer and the perceived performance of health insurance companies. Not only are insurance providers not meeting their customers’ service needs, but they are also missing important ways to connect with consumers.
In fact, the Accenture study shows slim social media engagement among health insurance providers—a channel the consulting firm wagers could help brands better home in on consumer needs. Only 6% of Accenture survey respondents said that social media sites have increased their awareness of offerings from health insurance companies—and only 8% said that comments related to health insurance have affected their feelings about health insurance brands.
All the above data clearly summarizes that Health insurance companies have failed to impress people online. But they need to realize that digital space is one space they just can’t miss upon. They could be a guide over the internet who can direct people to choose the policies as per their wants or an app that can always tell people, where to invest and all about the terms and conditions on the go. Yes too much of personalization has to be avoided but opt-ins are a great way to let people delve into these deeper issues whenever they want and however they feel.
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