The digital world has experienced a series of revolutionary changes over the last twenty years, thanks to the internet inception. The biggest reformation that internet has brought about is the way people build businesses and engage with customers. Today, there are more than 24 million online stores and the internet contributes to over $2.2 trillion in annual sales.
With such whopping numbers, there is considerable change in the way consumers view and perceive online businesses due to the increased availability of platforms like smartphones, tablets, social media and many more. Hence, the digital market has gotten tougher and highly competitive for online stores to be able to gain the necessary online visibility for higher conversion rates.
What’s More Important?
As industries are gearing up towards a digital transformation, the insurance market is no different. In fact, according to EY survey, 79% of insurance companies understand the urgency and impacts of going digital. But the fact is that mere online presence serves no purpose for your vociferous and digitally empowered customers. You need a strong digital strategy to boost your Insurance brand’s reputation to remain successful in the market.
And you know why?
Because, a Harvard Business Review article shows that nearly 70 to 80% of market value is derived from intangible assets like brand equity and goodwill. Not only that, a Nielson study also shows 59% of respondents said they would rather buy a new product from a brand that they were familiar with. Another 21% of respondents said they bought a new product only because it was made into a brand they liked.
It shows that Insurance companies should be willing to take a step ahead in building a strong customer interaction through a dynamic digital scope that focusses on establishing and managing brand reputation through various sources.
To help online Insurance merchants, we have come up with some of the top best practices for managing your brand reputation through our DX platform which would help you establish a consistent relationship with your customers.
Ranking on SERPS
Did you know there are over 63000 searches per second performed on Google which means Google alone handles at least 2 trillion searches per year?
Customers want the best as a result of their search. According to Advanced Web Ranking, the first position on Google search results on desktop and mobile has 34.36% and 31.35% CTR respectively. This is why ranking on SERPs is one of the most important platforms to promote your brand as it ensures higher profitability and ROI while promoting your brand globally.
Local SEO plays a major role in the growth of your online business and successful brand promotion is nothing but SEO done right
Having managed a large number of websites across industries, Aspire understands what it takes to build a digital platform that supports,
- Site optimization,
- On-page analytics,
- Adaptive Content and Personalization,
- Customizable and localizable URLs
- On-page SEO,
- Responsive design for mobile applications etc.
Don’t Neglect Customer Reviews
In the Digital era, customers have the power to build or break your reputation through reviews across platforms including social media. This also means there is a high risk of brand infringement through online scammers and impersonators. Hence it’s important to protect your brand by verifying your legitimacy, especially in social media.
The fact is 92% of customers read online reviews before making a purchase decision and what’s more challenging is that it takes 12 positive reviews to negate a single negative review. To top it all, customer reviews can make up 10% of how Google and other search engines can even decide your ranking.
An ideal DX platform lets you to manage all your social media profiles and other customer feedback portals with increased transparency, additional features from a single location. Check out how JetBlue Airways created a positive brand experience by simply engaging with the customer on Twitter.
Customer Experience is the Key
Whatever said and done, in the end, customer experience will speak volumes about your brand. This starts right from the moment a customer visits your website. Unlike brick and mortar stores, customers are engaging with faceless online merchants who get reassured about your brand only through the kind of experience they receive.
Our DX platform strongly focusses on personalization across various elements like user-friendly navigation, goal-driven and highly responsive website designs, faster page loading, unique content, quality images/videos, online chat services that determine and validate your customer experience.
For example: According to Adobe, 39% of customers will stop engaging with a brand if it takes too long to load. And it doesn’t take long for them to visit your competitor. The same report also says that 38% of customers leave a website if they find it unattractive. This shows why it’s important for online Insurance merchants to benefit from the right DX platform which has the ability to read the policy holder’s data like buying/browsing history and other preferences that meet their policy requirements.
Jeff Bezos, CEO of Amazon rightly said “If you do build a great experience, customers tell each other about that. Word of mouth is very powerful.”
To sum up, we realized that brands benefit only from happy customers and your digital strategy for improving your brand promotion greatly depends on how you make your customers feel, especially for Insurance businesses where customers require continual support across various touchpoints. And this can be possible only with the help of a flexible, robust DX platform that offer increased customer experience followed by improved brand reputation.