The insurance industry is one that’s predicated on print. Even as many other industries make the transition to digital channels for transactional documents like account overviews and statements, it makes sense that insurers continue to rely on print communications as almost 75% of consumers prefer print for things like bills or invoices; and more than one-third of those surveyed are more favorable toward print specifically for insurance information.
Add to this the fact that 88% of readers surveyed believe they retain and recall information better when it’s presented in print, and insurance companies have a lot of potential to get creative with their print materials as opposed to simply providing a nuts and bolts recap of a customer’s account history.
However, making the most of this opportunity means insurance companies need to become more savvy and strategic in print. With this in mind, let’s look at some ways insurers are using print in 2023 to get the most out of their marketing budget, while also building a bridge of trust with customers through unique and innovative uses of print.
Insurers are creating print materials designed to engage at a higher level
A picture is worth a thousand words is a cliché for a reason — people have a greater likelihood of retaining information when it’s presented in a visually appealing or engaging way. In fact, studies show that the average person has the ability to recall 65% of the visual content they experience three days later.
For insurance companies, this means thinking more creatively about how to design print materials using elements like font sizes, colors, images, textures, or finishings to make the content memorable and the messaging more effective. This kind of higher-level engagement can apply to transactional communications like statements or account overviews, but it can also be used for direct mail campaigns to help increase response rates, grow sales, and expand your brand awareness.
Designing around print components like speciality inks, textured papers, or interactive elements like pop-ups or cut-outs increase the likelihood that an already captive audience will open, engage, and respond to the call-to-action of your direct mail piece. Plus, insurers who can incorporate some of these components also stand to see a discount on their postage through the USPS incentive program, which rewards print innovation and ingenuity in direct mail.
While so much of the focus for insurers is on creating dynamic, engaging customer print communications, it’s easy to forget that your internal communications should also be designed and printed with the same level of consideration for how your sales, marketing, or customer service teams will respond to and retain print information.
There is a staggering amount of information on compliance and regulations that your teams need to know, and because the human brain processes an image in just 13 milliseconds compared to several hundred milliseconds with text-based information, it’s important to consider high-level visual and design engagement in print for your internal communications as well.
Insurance companies are getting more personal and targeted in print
When we say insurers need to get more personal in print, we’re not talking about simply using customer data like names, addresses, and account numbers on transactional communications like account overviews — which is something insurance companies have had in the bag for years.
What we’re talking about is how insurers can use digital print technology and variable data printing (VDP) to leverage large amounts of customer data beyond names and mailing addresses to create highly targeted, personal marketing collateral that customers are more apt to respond favorably to.
80% of customers are more likely to buy from brands who demonstrate that they recognize and understand them, and data-driven print that incorporates VDP is highly effective at demonstrating you have a relationship with your customer. For example, print pieces such as brochures, invitations, or postcards that incorporate detailed data like a recent customer purchase or anniversary of when they first became a customer show an in-depth understanding of who your customer is and what’s important to them.
But there’s more.
Imagine that a simple account overview document could also pull double-duty by incorporating an offer to cross-sell or upsell a product or service based on customer behavior or interest. Using a data-driven approach and custom messaging specifically tailored to each individual customer, insurers can not only increase the ROI of their print budgets, but they can also use transactional communications as a way to build trust and loyalty in their brand by demonstrating they know the challenges their customers face and how to help solve them.
Insurers are making print more immersive and interactive
One common objection insurance companies — and even some marketers — have to print as an effective marketing and communications tool is the inability to accurately measure ROI based on established KPIs. And a second common objection is that print communications lack the interactive or immersive nature found in digital marketing methods.
However, today’s insurers are infusing their print communications with digital elements that create a more dynamic experience for the customer — and help insurance companies better understand the kind of content and messaging that most influences a desired action.
Calls-to-action that use website URLs, hashtags, social media handles, QR codes, and augmented reality integrations are bridging the print and digital worlds to build an omnichannel experience where customers can explore and discover in greater depth who a company is, what they have to offer, and why a customer should purchase a product or service.
For example, a health insurance company could mail a personalized postcard to customers discussing the benefits of regular exercise with a QR code that, when scanned, opens an offer to download a fitness tracking app where customers can record their workouts and earn rewards from the insurer.
Not only can extending the customer experience in this way help differentiate you from your competitors, but it also helps you better understand how effective your campaigns are via reporting that includes metrics such as web traffic, downloads, time on page, social media shares, and more.
Today’s insurance companies are thinking beyond the norm when it comes to their print materials, and Quantum Group has a long and proven history of helping insurers execute effective print campaigns that help them grow their business. Aside from our expansive fleet of production presses, rapid turnaround times, and transparent processes, our production management tools help ensure compliance with strict industry standards and regulations.