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BizReport : Advertising archives : June 19, 2017

What other brands can learn from insurance industry

Millennials can be a tough nut to crack for advertisers because they're 'always on'. Some of the most innovative - and engaging - campaigns geared toward Millennials are coming from insurance brands. We chatted with an expert to find out how those outside the insurance industry can reach Millennials.

by Kristina Knight

Kristina: Several studies have shown that Millennials are engaging with brands in different ways than Gen Xers and Baby Boomers - why is this?

John Piontkowski, VP & Industry Lead, Finance, Millennials are digital-first consumers. Unlike Gen Xers and Baby Boomers, millennials constantly consume content across a number of devices, which means they're truly always-on with a special focus on their mobile devices. Because they do everything from watching live events, to getting tips on insurance on their smartphones, brands have a massive opportunity to engage with this mobile audience. The key is creating content that is relevant, authentic and optimized for mobile. Uniquely, millennials also watch more videos on their mobile devices because of the access and convenience. Now more than ever, video is becoming an important part of every marketing strategy and that's especially true for the insurance category where brands including Amica Insurance and State Farm have launched some very unique efforts.

Kristina: What do brands need to do to become more relevant - and therefore more engaging - to Millennials?

John: Whether brands choose to double down on video, native or search ads -- or a combination -- millennials are highly receptive to digital advertising, but the content needs to align with their interests and provide value. That's where data can help brands better understand their audience and customize content. By creating content that is informed by insights about their audience, brands can help ensure it speaks directly to them. For example, interest for "health insurance" spikes in January, while "auto insurance" searches spike in November and December. What's more, 22% of searches for auto insurance came from younger millennials aged 18-24. We're seeing more brands in the insurance category step up their efforts when it comes to data-driven creative and marketing. It's also critical that this content is optimized across screens so it's accessible on desktops, tablets and smartphones.

Kristina: How does storytelling factor into Millennials' interests?

John: Content marketing is one of the most effective ways for brands to connect with consumers, because it creates a compelling story that makes a lasting impression. At Yahoo, we believe in the power of storytelling as a way to reach the right audiences, particularly millennial. Content campaigns are effective because they can provide entertainment and inspiration as well as useful information that consumers want. Naturally, video is a powerful platform for storytelling, but because millennials have such high expectations when it comes to branded video, marketers need to make sure to get it right. By working with the right team of experts who can help produce timely and quality content, combined with a seamless viewing experience, brands can create more impactful campaigns.

Kristina: How can brands use this tool in campaigns?

John: Brands can engage millennials by activating content marketing campaigns that speak to their interests, life stages and their digital habits. For the insurance industry, consumers have numerous options and these decisions can be complex, so marketers can use content marketing to build and maintain awareness. Amica Insurance recently partnered with Yahoo to launch "Things They Don't Tell You About," a branded destination that offers expert advice on topics that are relevant to millennials, such as purchasing a home or starting a family. Working with Yahoo Storytellers, our full service content marketing studio, Amica Insurance was able to make a lasting impression among millennials by offering exclusive videos and editorial content that helped them prepare for some of their biggest milestones in life.

Tags: advertising, ecommerce, insurance marketing, Millennial marketing, Yahoo

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