Streamlining Customer Decision-Making at State Farm Insurance
State Farm is a large insurance company providing a range of insurance products, from auto and home to life and health insurance. The insurance industry often faces a slow decision-making process due to the complexity of policies and customer reluctance to make long-term commitments.
State Farm was seeking ways to accelerate this process to improve customer conversion rates. By practicing several strategies along with use of promotional products, State farm has successfully reduced the time from initial inquiry to policy purchase by an average 27% and led to a 16% increase in overall customer conversion rates.
For a well-established company like State Farm, promotional items can significantly bolster their marketing and customer engagement efforts to speed up the customer decision-making process. Here’s how:
Enhanced Customer Experience: Providing value through practical or educational promotional items can enhance the overall customer experience. For example, State Farm has offered branded car emergency kits as promotional giveaways for those who get a quote for auto insurance. This tangible item serves as a constant reminder of the need for insurance while also providing real value.
Personal Connection: Customized promotional products can make customers feel valued and special, strengthening their emotional connection to the brand.State Farm has a variety of promotional items choices for their individual customers from golf to pet accessories and from house supplies to outdoor gears based on their preferences.
Call to Action: Some of State Farm promotional products can directly lead to business actions. Agent’s phone number, company’s website address, or QR code linked to quote page or policy page will save customer’s searching time and expedite the sales process.
Incentivizing Behaviors: Offering high value promotional products as rewards for getting a sales or referring friend can provide a tangible incentive for customer actions.
We selected a few promotional items that helped State Farm expedite its customers decision making process and to hopefully inspire your own promotional marketing programs:
Inquiry Giveaways
Automotive 7-Piece Roadside Emergency Kit
655707
Starting from $13.16
Time-Limited Close Deal Gifts
Koozie® Portable BBQ with Cooler Bag
738942
Starting from $36.07
Desk Display
Execu-Buddy Card And Media Stand
726212
Starting from $3.38
Even if you’re not as big as State Farm, with promotional products in hand, there are a lot of efficient ways to help your customers make decisions quicker:
- Direct Mail Campaign: Send the customer tailored gifts to your potential customers who have recently got a quote from you, including information about your service or a limited-time offer to instigate quick decision-making.
- Sense of Urgency: Offer branded BBQ gift set or other higher value promotional products as a limited-time closing gift will create urgency, and encourage immediate action, thereby reducing the decision-making time.
- Bundle Offers: Create packages that include a combination of your promotional items as a reward for purchasing a premium version of your service.
- Consistency and Professionalism: Having a uniform set of branded accessories for your employees such as logoed pens, notebook, business card holders helps maintain brand consistency, which is key to creating a cohesive and professional image. When potential customer perception of your business gets enhanced, they will be more likely to choose your service over your competitors.
- Customer Testimonials: Positive customer reviews and success stories are the best tools to build trust between your potential customers and your brand. Utilizing promotional items as an incentive to encourage your customers to leave a review or tell a story on social media and feature them on your website or social media account.
By thoughtfully incorporating these promotional items into
your overall marketing strategy, you can engage potential
customers in a way that not only raises brand awareness but
also expedites their decision-making process.