Case Study
Web Journey
In the competitive insurance market, understanding the web lead journey is essential for identifying market prospects and optimizing the customer acquisition process. This case study examines the web journey of insurance clients, focusing on sources of awareness, decision-making processes, and overall customer experience. The insights helped refine marketing strategies and improve customer engagement.
Objective of the Study
The primary objective of this study is to understand the web lead journey and identify market prospects for a major player in the insurance market. The study aims to uncover the sources of awareness, evaluate the decision-making process, and assess the overall experience of potential clients from lead generation to acquisition.
Methodology
METHODOLOGY: Quantitative Mixed mode CATI and CAWI interviews
SAMPLE : 350 respondents, aged 18+, who have filled in a Client lead form in the last 6 months.
The sample contains 3 segments:
- Leads that didn’t convert (100 respondents) –the prospect filled in a lead form, but did not purchase an insurance product
- Leads that converted (200 respondents)– the prospect filled in a lead form for a specific product and purchased the exact product
- Leads that converted, but on a different product (50 respondents)– the prospect filled in a lead form for a specific product and purchased a different product
LOI:
- 10-15 min
MAIN RESULTS
Sources of Awareness: The study identified various sources of awareness, including TV, online advertisements, and recommendations. It also analyzed the frequency with which clients see commercials and advertisements.
Market Prospect: Insights were gathered on the decision-making process, including reasons for choosing specific brands or competitors, preferred channels, and the types of insurance companies and products favored by prospects.
Lead Form Process: The process of filling in the lead form was evaluated, including an overall assessment of the experience, waiting times, offers, and agent evaluations. Preferred meeting channels and the number of interactions were also analyzed.
Acquisition Triggers: The study identified key acquisition triggers and provided an overview of the overall purchase experience, including client direct usage and evaluation of the insurance products.
KEY TAKE-AWAY
- Complete Customer Journey Map: A comprehensive overview of the customer journey for all three segments, covering awareness, consideration, decision, purchase, and loyalty phases. This helps understand the entire funnel and optimize each stage.
- Sources of Information: Insights into the main sources of information for all three segments, highlighting the most effective channels for reaching potential clients.
- Motivating Aspects: Identification of the most. motivating aspects when choosing insurance products and the factors influencing the decision-making process. This helps tailor marketing strategies to better meet client needs and preferences.
