Digitizing Sales, Marketing and Operations – How the Pandemic Has Energized Digital Adopters
During the most recent ChannelEdge podcast interview, veteran insurance agency owner Pat Moore said his insurance business is, “no longer your grandfather’s insurance company.” However, it used to be until he stepped out of his Digital Adopter-comfort zone and started real digital transformation to allow his business to digitally pivot.
His story is one of many in the Age of COVID. Smart leaders understand that the old way of doing almost everything is making way for rapid digital transformation in sales, marketing and business operations. COVID has forced companies and their leadership to quickly adapt to a new normal. With remote working and no in-person meetings, this new normal means digital – from sales to operations to marketing and everything in between.
Digital Marketing Saved His Insurance Business:
Pat Moore’s willingness to understand his own business shortfalls was what ultimately saved his business. Even before the onset of a global pandemic, Moore understood that in order to survive, he needed to get on the digital transformation bandwagon. But, he didn’t have the skills or know-how to get it done.
As a Digital Adopter willing to learn, he hired a digital native who helped him update his business practices, especially marketing, as well as mindset – all through digital means. Together, they moved away from costly printed materials and began focusing their marketing efforts on social media and targeted online marketing. He discovered that through strategic digital marketing, he was able to connect and engage with more potential clients and on a deeper level.
Digital Transformation Saved the Insurance Industry:
As Mr. Moore mentioned in jest, “insurance is not a sexy industry.” For years, the market has had a brain drain and a “gray out.” What this means is that younger professionals have almost avoided entering into the business for a variety of reasons, including a complex business learning curve, coupled with an overall lack of innovation. While the industry as a whole has been hard at work to try to change that perception by infusing digital assets into the everyday lives of insurance agents, COVID has rapidly propelled those efforts – with successful results.
As Mr. Moore points out, there has been a recent insurance renaissance, whereas older, more experienced insurance professionals have been able to leverage digital tools, like video conferencing and digital marketing to maintain connection with their clients and still keep working. Also, agents have been able to retain great talent through virtual means. Now, it doesn’t matter where your marketing manager lives, as that work can be performed well from anywhere. All-in-all, digital methods have energized the insurance business, positioning it well for a post-COVID world.
According to Mr. Moore, it’s more important now than ever for large insurance companies to continue the momentum and provide adequate training in this new world of digital sales, marketing and operations. Leadership on down should embrace new technology and tools that are available to them and use them the right way for successful results. How will this happen? Digital Adopters like Pat Moore need to be able to listen and learn from younger, tech savvy digital natives – helping lead the way in a permanently digitized world.