The Can't-Miss Marketing Opportunity Of The Season

Holiday Marketing Made Personal

We're entering the holiday season and there's a big marketing opportunity coming up that is absolutely crucial for creating profitable, long-lasting customer relationships.

Industry experts tend to agree that it costs more to acquire new clients than keep them (5 to 10 times more, eMarketer, 2002), and that your loyal clients will make up the majority of your year's sales and referrals.

And with the holiday season looming you need to launch what should be the cornerstone of your relationship marketing: The season's greeting.

You're probably already doing something to touch your client base during the holidays, but are you doing it correctly?

If you've got an email autoresponder program keeping your database warmed up and the policies flowing in, you might think shooting off another email is all you need to do to stay in your customers' good graces.

But why are the holidays different? And why won't a normal autoresponder do?

Because nobody prints out emails and sticks them to their fridge for a month and a half, do they?

This is the time of year to focus your marketing strategies on retention. Think about it: is there any other time when your customers' mailboxes hold so much anticipated, welcome mail? (Well, maybe when they're waiting for their tax return, but still...) Your season's greeting will be right next to the warmly received well wishes from your customers' friends and relatives, strongly reinforcing the personal connection that bolsters retention.

And count on your retention-building efforts to pay off: just a 5 percent improvement in retention yields profit increases of 25 to 100 percent (Bain and Co., 2002).

6 tips to maximize this golden marketing opportunity:

1. Make it personal. Yes, you're busy this time of year, but sending a greeting card that's personalized with only your signature misses the mark: it's not enough to show your customers how much you value them. Take the time to jot a personal note. Even if it's just to wish them a great year and thank them for being your customer, your greeting has more impact if it's in your handwriting, not a manufactured message.
   
2. Demonstrate your intimate knowledge. Grab this opportunity to position yourself as the family insurance agent to your individual customers. If you know the names of your customers' families, address them as well in your greeting.
   
3. Show your family side. If you've got a little extra money reserved for marketing during this time of year, put it to good use. A photo card of you and your family costs a little more but is priceless in developing a positive, trust-inspiring image.
   
4. Save the specials. It's tempting, but save the special offer and discounted deals for another mailing or email. When you're marketing to your relationship buyers, don't try to wow them with a deal or overwhelm them with ads and literature. That's not what drives your loyal customers to buy from you. What really makes them resist offers from the competition year in and year out is the value they place in the relationship they have with you.
   
5. Single out your key customers. These are the ones you estimate to have the greatest lifetime value, whether in policies purchased, referrals or both. You should always invest the most time nurturing these key relationships, so treat them with special care during this time of the year. Invest in something simple but thoughtful that demonstrates your appreciation, like a gift card to a local business.
   
6. Follow up. And don't forget to maximize the retention potential here with a phone call right before the New Year, wishing your customers the best for them and their family.

Your rewards won't be an immediate return on investment like you're used to with email campaigns and special offers. You'll be getting something much more valuable: increased customer loyalty, retention and referrals that convert into repeat policy sales.