Retention Efforts in Insurance: Telemarketing
Leverage telemarketing to increase retention rate, average products per household, and ultimately the policy lifetime for consumers actively in-market for the same or additional insurance products. Focus on campaign measurement on engagement metrics closely related to dials, such as contact rate, contact rate, consumer interest, and transfers.
As soon as you receive an Activate in-market signal for any of your customers, place a well-timed account check-in call to learn more about the customer’s needs and determine the best offer for retaining and/or growing their business.
|Group 1:||Consumers with Activity (‘Seen’)|
|Group 2:||Consumers with No Activity (‘Not Seen’)|
|Treatment:||Run an initial campaign against a control group of ‘not seen’
consumers to establish your own benchmarks
|Measurement:||Lift in contact rate, consumer interest,
and transfer rate between Groups 1 & 2