Why digital audio is the future of insurance marketing

If Gen Z and Millennials are among your primary audience segments, start by creating ad campaigns that build trust. These generations are more likely to worry about their financial future5 and distrust financial institutions,6 but are essential to fuel the growth of insurers. This is where digital audio comes in: Spotify ranks #1 for brand intimacy,seven and in our latest Culture Next report, we reported that 40% of millennials and Gen Z place their trust in podcasts higher than their average trust in traditional media sources, including national TV news, newspapers and the radio. In fact, Kantar has found Spotify to be the most trusted platform for ads and has seen consumer receptivity to ads on music streaming services and podcasts increase over the past year.8 Learn more about how Nationwide combined an audio and video strategy on Spotify that resonated strongly with millennials.

3. The buying cycle and customer experience converge more seamlessly.

Insurers are increasingly smarter and faster at using first-party data to inform their marketing, and they will also use it to achieve new levels of personalization and customer convenience. Data will save insurers from having to choose between moving consumers through the buying stages or providing an exceptional customer experience.

Creating a consistent customer journey across all channels and devices will remain a top priority for financial services marketers. At the top of the marketing funnel, this will mean easier ways for prospects to research policies as well as more personalized offers and better next actions when reviewing.

To boost customer satisfaction, this will mean more frequent and meaningful touchpoints outside of complaints handling (and long before renewal). After all, loyal customers are less likely to switch and more likely to bundle products, have longer tenures, and recommend insurers to friends and colleagues – all actions that benefit the bottom line.

The best way to attract and retain customers? Complement your proprietary data with Spotify’s streaming intelligence to deliver your message at the most relevant times.

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