Improving CX: How 3 Companies Actually Did it with Personalized Videos
BY BLUERUSH | PERSONALIZED VIDEO
Personalized videos are made by creating a unique customer experience (CX) for each viewer based on their personal data (such as name or other personal details). These videos create a personal connection that leaves viewers feeling they are being taken care of and leads them to complete a task or objective (such as generating a lead, filling in a form, etc.). This unique approach is proving to be one of the most effective ways to connect with prospects, nurture leads and build customer trust. In fact:- 81% of marketers feel that video has a direct, positive impact on sales.
- HubSpot found that 54% of consumers surveyed want to see videos from brands.
- 87% of video marketers reporting that their videos gave them a positive ROI.
- 88% of people have purchased a product or service by watching a brand’s video.
Case Study #1: Insurance Giant Allstate Engaged and Converted Customers with an Enhanced Customer Experience
Allstate’s customer management teams struggled to convert eager prospects who called requesting quotes. Without a streamlined digital CX that engaged potential buyers with timely purchasing information, agents spent more time explaining a policy than selling it. When looking at their current process to engage and educate viewers, they determined customers were dropping of before converting because they were not receiving the right information to propel them to complete a quote request. The team quickly recognized the need to engage customers with interactive components customized to each customer’s specific name and policy needs. By leveraging data to create a unique 1:1 video experience for EVERY prospect, Allstate provided a unique interactive video experience within 24 hours of each customer’s initial request. Next, recipients received a personalized email with one-click access to their unique video statement that integrated both the electronic quote process and complemented the printed statements. The team quickly saw up-sell opportunities to promote local services and educate customers on how to better protect themselves by purchasing different options tailored to their needs. The robust tracking metrics of the IndiVideo platform allowed Allstate to monitor how customers were interacting with the video and the data-driven insights, allowed Allstate to make improvements in the entire quote process to achieve improvements in quote conversions and agent success. 80% of video viewers reported an increased satisfaction and better understanding. This lead to a 10% increase in conversions. The end result Through streamlining the CX and differentiating its brand, Allstate provided customers with an entirely automated, personalized customer experience walking them through the quote, savings, and benefits of Allstate insurance. For agents, this meant fewer avoidable calls, more streamlined digital services, like easy methods to explain billing cycles, and personalized templates – all of which allows them to focus on selling because their customer information needs are being met.Case Study #2: Pacific Life saw a 65% increase in customer satisfaction using Personalized Video!
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 translate 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. They 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’.Case Study #3: DUCA re-established their brand & increased deposits through an enhanced digital customer experience
DUCA noticed a lack of customer involvement with their online services, a drop in new customers, and a decrease in deposits. In an effort to grow DUCA deposits and lending, they turned to BlueRush to create a strong brand identity, build trust, and find clear ways to communicate the brand through digital marketing. When the marketing team realized the need for an enhanced customer experience focusing on a digital marketing program, they took the approach to first define the DUCA brand differentiator. After capturing the many aspects that made them stand out and the value-add they offered customers, they had to determine what is the best way to communicate that to customers that would be clear and memorable. Once they determined why customers should chose them, and examined the target market, it was decided a powerful omnichannel digital marketing campaign would be best to increase DUCA brand awareness. They created personalized messages and media campaigns targeted to drive traffic to interactive web pages to increase brand affinity. The online digital promotions, supported by a full suite of mobile-optimized text and display creative assets, including the online application process, could trigger automated personalized videos, emails, or phone calls to clients. Weekly reporting and analysis allowed for optimized adjustments to identify potential opportunities. The improved and simplified CX was shown to remove many of the barriers with lead generation. Resulting in accelerated acquisition, referral and expansion initiatives. The campaign ran for 90 days and shows the positive impact a company can achieve when they listen to what their customers are asking for and make an effort to deliver. The DUCA team was surprised at the significant increase in results in all areas. Customers were left understanding the DUCA value, and within 4 weeks, DUCA exceeded target deposit amounts and mortgage targets. The 90-day results:- Total deposits collected: 700 million
- New contributing members per day: 110+
- Ad impressions: 17 million
- Microsite visitors: 50,000
- New Leads: 14,000