In the past two years, due to factors such as high customer acquisition costs and no corresponding improvement in conversion rates, more and more companies have begun to focus on existing customer management, hoping to find more efficient ways to mine the value of existing leads as soon as possible.
Against this background, an insurance company launched an in-depth cooperation with Shence Data and launched a special project to refine the operation of existing customers based on the pain points in the conversion process of existing customers: On the one hand, the headquarters will use data analysis to mine existing customers for operations. clues, and then classify and grade the clues and clean them in a targeted manner; on the other hand, invite agents from each branch to participate, and the headquarters will allocate the cleaned and quality clues to the agents, helping the agents to broaden customer acquisition channels and try their best to It is possible to shorten the conversion link and improve conversion efficiency.
1. Detailed explanation of the goals and key measures of the four stages of lead operation
The overall business process can be divided into 4 stages: lead mining, lead cultivation and cleaning, lead management, and lead conversion. Each stage has different goals and key measures.
1. Clues mining
The focus of this stage is to improve the quantity and quality of leads. Business actions focus on sorting out customer journey touch points and locking in key behaviors under key touch points. At the management level, we continue to focus on the optimization of the lead rating model and the improvement of lead processing efficiency. This ensures that agents can follow up on the hottest and most valuable leads more quickly, and then use professional services to get through the last mile of insurance sales.
2. Clues cultivation and cleaning
The focus of this stage is to improve the efficiency and quality of lead cultivation. Business actions focus on lead group management, lead activation and reach; the management level must complete agent group management, cleaning process management, agent training and performance appraisal, and accumulate lead cultivation and Clean the knowledge base.
3. Lead management
The focus of this stage is proactive intervention to improve lead management efficiency. Business actions focus on lead group management and differentiated service follow-up. At the management level, agent group management and business process management are carried out, and emphasis is placed on the assessment of activity volume and agents. training etc.
4. Lead conversion
The focus of this stage is to improve conversion rate, conversion efficiency, and referral success rate. Business actions usually include conversion effect analysis, improving customer loyalty, etc.; the management level focuses on the optimization of lead grading rules and lead allocation rules.
2. Draw customer journey based on business scenarios
During the specific implementation process, the insurance company must first map out the customer journey based on business scenarios and clarify the core monitoring indicators at each stage to guide subsequent work.
From a customer perspective, the customer journey mapped out by the insurance company includes six stages: interest generation, online interaction, product/service analysis, clear needs, insurance/service purchase, and introduction to friends. The customer journey map drawn based on this is as follows:
Specifically, the customer journey map includes the customer visiting the online platform of the insurance company, the customer browsing the activity page and leaving money, or the customer using a certain functional service, the customer browsing the details page of an insurance product, and the customer being interested in the product and making inquiries. Through continuous interaction between the insurance company and the customer, the insurance company prepares a plan for the customer, the customer browses the plan, the customer completes the new contract underwriting, and the customer introduces the product to a friend, etc.
At different stages of the customer journey map, the insurance company will focus on different business indicators and complete journey diagnosis through indicator data trends to improve business management efficiency. Based on the MTAOO methodology of Customer Journey Orchestration (CJO), we can summarize the complete key steps of lead operations as follows:
1. Map the customer journey.
2. Sort out the key touch points of the lead customer journey, access buried data from multiple platforms such as Apps, mini programs, official accounts, and corporate WeChat to complete the construction of data infrastructure.
3. Conduct in-depth data analysis based on the focus indicators at different stages of the lead customer journey, diagnose the continuity of the customer journey, and discover pain points and points for improvement.
4. Based on the journey pain points suggested by data analysis, combined with the value analysis of different groups from a business perspective, rationally arrange the customer journey, and improve customer experience and value through appropriate touch points, content, and timing.
5. Pay attention to changes in key indicators and flexibly and dynamically adjust and optimize the journey arrangement method to better achieve customer journey traction.
During the process, we helped the insurance company design a tracking plan, complete data verification and indicator dashboard configuration, and assisted it in diagnosing and analyzing customer data, completing the formulation of customer journey orchestration strategy sets and system configuration.
It is worth mentioning that during the process of customer journey orchestration, we found that differentiated customer group insights are a necessary part of customer journey orchestration. Insurance companies can plan personalized marketing strategies for different customer groups to improve conversion efficiency and LTV.
for example.
Struggle youth group: focus on automated operations, moderate customer behavior traction, improve retention rate and stay active
After analyzing actual data feedback and business experience, we found that there is a relatively focused customer group with the following characteristics: in the customer journey, they are at the stage of "generating interest and trying to participate in online interactions"; as a group of young people who have just entered society , have a certain awareness of insurance, but their understanding is not deep enough, and their purchasing power is relatively limited; the behavioral path of this group is mainly to log in to the platform and use platform functions indiscriminately, which belongs to the exploration stage, but at the same time, the penetration rate of information and activities is relatively high . We define it as a "struggle youth group". As mentioned above, this group mainly has three characteristics: young, new to society, and low income; highly active on online platforms, with a certain understanding and interest in insurance; and participation in welfare Activities, belonging to welfare-sensitive customers.
Based on the above feedback, we judge that although the struggling young customer group has insurance awareness, their needs are not clear enough and have not reached the level of direct transformation, and guidance needs to be further strengthened. Considering that its purchasing power is relatively limited, online-operated, low-cost insurance products are used as the entry point. Later, as the understanding of the customer deepens and the customer characteristics change, the customer will be gradually transferred to an agent for follow-up.
Based on this, we can arrange journeys for this group. The example is as follows: at 7 pm on Friday, a Push message of "Continuous sign-ins will receive gifts" will be sent to customers who have launched the App this week; if the customer opens the message, every subsequent day At 9 o'clock, push the check-in reminder through Push; if the customer completes the 7-day continuous check-in, push a welfare activity similar to "Lottery to win gifts" to complete the participation task of the early hook activity; if the customer participates in the activity and continues to be active, then the next Then push the insurance knowledge introduction information content through the service account template message; when the customer browses the push message, then push the "Comprehensive Traffic Accident Insurance" product introduction to the customer, with an insurance link to guide the customer to purchase; once the customer completes the purchase, and on the platform After browsing critical illness insurance and life insurance products, they will be transferred to agents to follow up. Here, they can be appropriately assigned to agents with senior experience, rich professional knowledge, and strong capabilities, so as to better complete the value transfer of high-volume products...
After the above journey arrangement was actually implemented, the insurance company found through relatively long-term indicator monitoring that the activity of this customer group has steadily increased, the 7-day retention rate and activity penetration rate have significantly improved, and the actual underwriting conversion rate has also exceeded average level.
Newly wealthy group: Agents provide one-on-one timely guidance and provide personalized services
From the perspective of the customer journey, the new wealth customer group is an orphan customer who has been insured and currently has a valid long-term insurance policy. Taking into account the growth of their family stage and age, new protection needs need to be explored, which belongs to new product analysis or services. In the analysis stage, appropriate guidance can be provided; from the perspective of business experience, as orphan single customers, this group of customers has certain purchasing power and needs to pay more attention to customer service experience; from the data perspective, the size of this group accounts for a large proportion of the current clue pool , are low-active online customers. Currently, the main types of insured insurance are critical illness insurance. By focusing on analyzing the proportion of customers in different insurance ranges, we found that customers with insurance amounts of 800,000 and below account for a relatively high proportion, and we can focus on them. Because as income, age, and family structure change, there is an inherent demand for supplementary coverage.
Overall, this customer group has already established interest, but has not yet entered the product analysis stage, so insurance companies need to guide them through journey orchestration. Because this group mainly converts products with high unit average, insurance companies can introduce agent-directed services to improve efficiency. At the same time, insurance companies can also rely on automated operation capabilities. When they find opportunities to proactively operate, they can notify agents as soon as possible, and agents can quickly follow up.
Based on this, we can complete the customer journey arrangement. The example is as follows: for an upcoming offline event, send event invitations via SMS 1 month in advance; if the customer browses the invitation interface but does not reserve money to make an appointment, the agent will Make outbound calls to establish contact with customers and add friends through corporate WeChat; mainly use corporate WeChat 1v1 chat. Before the event, the agent can remind customers to attend the meeting, send the meeting address and notes; if the customer comes to the event site and follows up with us Through online insights, it is found that the customer has browsed pension annuity products or related pension planning information, and the agent can be quickly notified through the agent-oriented operation strategy, and the agent will initiate a chat with the customer immediately to assist the customer in completing the protection gap assessment. Help customers prepare appropriate plans, and ultimately assist customers in completing underwriting or refer customers to other friends for insurance.
Under this journey orchestration strategy set, we focused on understanding the outbound call completion rate, offline event attendance rate (the proportion of customers who received event invitations and actually attended), the number/number of customers evaluated by the protection gap function, and underwriting conversion related data. After the strategy has been running for a period of time, the relevant data indicators have shown a steady and rising trend, further verifying the effectiveness of journey orchestration.
Of course, insurance companies need to continue to conduct comprehensive assessments as more scenarios are implemented. To this end, Sence Data assisted the insurance company in establishing a monitoring system for real-time assessment, weekly assessment, monthly assessment, quarterly assessment, semi-annual assessment, and annual assessment. Subsequently, the insurance company can flexibly adjust the content of the journey arrangement through comprehensive data evaluation, supplement new strategies or complete the production of new materials. It should be noted that during the monthly or even longer periodic evaluation process, operations personnel need to analyze the completion and deviation of business goals so that they can understand the effectiveness of the strategies to be implemented in a timely manner and adopt appropriate response strategies.
Sence Data has rich practical experience in digital operations in the insurance industry and has helped 22 of the top 50 insurance companies build customer-centered digital operation systems. In the future, Shence Data will provide more enterprises with solutions that better meet their digital customer management needs through its highly open product architecture, flexible integration capabilities, implementable digital customer management solutions, and complete data security and compliance systems. software.
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