Pacific Life Saw a 65% Increase in Customer Satisfaction Using Personalized Video!
BY BLUERUSH | PERSONALIZED VIDEO
A positive customer experience (CX) can make a huge difference for any business. It’s one of the biggest reasons sales and marketing teams are looking for tools to help them provide a better experience that will lead to greater customer satisfaction. In their search, many are turning to personalized video since it’s been proven that customers are more receptive to personalized messaging, leading to improved commercial outcomes.
The numbers prove the merit for personalized video: 80% of consumers are more inclined to do business with a company if it offers a personalized experience.
Keep reading to find out how Pacific Life used personalized video to improve customer satisfaction.
Increasing Customer Satisfaction
Pacific Life – a life and insurance retirement company serving Americans for over 150 years – faced the challenge of low retirement savings and a lack of consumers reaching out to financial advisors to discuss potential retirement concerns.
The company recognized the need to educate customers about the power of savings through annuities.
Early on they saw the benefit of providing an enhanced customer experience with additional tools that educate and empower and they created a Retirement Income Translator Tool to help customers better understand the risks of outliving their retirement income. The tool drove traffic to the Pacific Life website landing page, where customers would answer 5 questions to calculate their desired retirement income.
An interactive personalized video then educates viewers on how retirement savings translates into retirement income, the benefits of a single premium immediate annuity (SPIA) to protect it, and the benefits of reaching out to speak to an advisor.
With email CTR increasing up to 3.5 times when using video, Pacific Life’s video acts as both a financial tool and visualization engine to lead more impactful conversations with advisors and a higher likelihood of a sale.
Pacific Life found the data gathered from the analytics of who watched the video, for how long, and if they acted, critical to refining their campaign to provide a customized experience.
Pacific Life saw that 75% of viewers watched the entire video and 65% of viewers showed increased satisfaction and better understanding of their unique retirement needs – which led to 66% conversion rate, a.k.a. ‘more sales’.