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Comarch Insurance Distribution Breakfast -
ROPO in practice: experiences and case
studies
Brussels, 20th October 2016
Agenda
2
About us
The “digital client” and his expectations
What is ROPO?
How can we make ROPO a success?
Case study
CP Consulting
Management consulting and
Market research company
Based in London
Specialized in the
Insurance sector
We mon...
Our research
Insurance Price
ComparisonMobile
Our research focuses on Innovation and Distribution
Trends in Financial Serv...
Agenda
5
About us
The “digital client” and his expectations
What is ROPO?
How can we make ROPO a success?
Case study
The “digital client” and his expectations
6
Clients are more and more «Connected» via
Smartphone, Tablet e Laptops
The way...
The “digital client” and his expectations
7
The line between online and offline Customer
Journey is becoming more “blurred...
The “digital client” and his expectations
8
Belgium has among the highest ROPO in Europe,
after Italy and France
21%
34%
2...
The “digital client” and his expectations
9
Once at point of sale, «advice» can influence the
purchase decision in a mater...
Agenda
10
About us
The “digital client” and his expectations
What is ROPO?
How can we make ROPO a success?
Case study
Overview of ROPO within the marketing funnel:
objective is to capture “leads”
11
ResearchOnline
Purchase
Offline
ROPO is b...
Successful ROPO models make correct use of its core
ingredients
12
ResearchOnline
“Hook”,
audience and $
spent
Landing pag...
Topics that are attractive for your audience vs. the ones you
like
13
Sport1
2 Gossip
3 Blogs and cooking pages
5 Daily Ne...
Example: Zurich Italy
Ad and «call to action»
14
Call to action in the Ad: Visit Zurichcasa.it
Benefit: discover your idea...
Example: Zurich Italy
Landing page and further «calls to action»
15
Organization and incentives to ensure correct
management of leads and optimization of conversion
16
PurchaseOffiline
Share...
Agenda
17
About us
The “digital client” and his expectations
What is ROPO?
How can we make ROPO a success?
Case study
Does and don’ts in conceiving a successful ROPO
model
18
Does
• Cover topics that are
attractive for your audience
• Make ...
Key design questions (1/2)
19
1. What is the overall objective of our ROPO initiative? Gather contacts? Offer
configurable...
Key design questions (2/2)
20
1. How are the leads going to be passed to the salesforce?
2. What happens then? What type o...
Agenda
21
About us
The “digital client” and his expectations
What is ROPO?
How can we make ROPO a success?
Case study
Case study 1: Allianz One
Overview
22
Allianz was the first insurer to apply ROPO in Italy with
the Allianz1 product
• Lau...
Case study 1: Allianz One
Product configurator
23
• Configuration
starts with limited
infos: date of
birth, profession
and...
Case study 1: Allianz One
Quote save and selection of agents for handover
24
• Price is quoted and paid
monthly, as per th...
Thank you!
Carlo Palmieri
Managing Director and
Founder
CP Consulting Solutions
carlo.palmieri@cpconsul.com
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Research Online - Purchase Offline. How does ROPO work in practice in the Insurance business? How can sales processes be optimized?

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CP Consulting ROPO in practice: experiences and case studies

  1. 1. Comarch Insurance Distribution Breakfast - ROPO in practice: experiences and case studies Brussels, 20th October 2016
  2. 2. Agenda 2 About us The “digital client” and his expectations What is ROPO? How can we make ROPO a success? Case study
  3. 3. CP Consulting Management consulting and Market research company Based in London Specialized in the Insurance sector We monitor customer and distribution trends in the insurance industry 3
  4. 4. Our research Insurance Price ComparisonMobile Our research focuses on Innovation and Distribution Trends in Financial Services Connected Home 4 Millennials
  5. 5. Agenda 5 About us The “digital client” and his expectations What is ROPO? How can we make ROPO a success? Case study
  6. 6. The “digital client” and his expectations 6 Clients are more and more «Connected» via Smartphone, Tablet e Laptops The way customers gather information, choose and purchase products are quickly evolving
  7. 7. The “digital client” and his expectations 7 The line between online and offline Customer Journey is becoming more “blurred” Often the Customer Journey starts online, on Social media or on a search engine or on a PCW and then continues offline
  8. 8. The “digital client” and his expectations 8 Belgium has among the highest ROPO in Europe, after Italy and France 21% 34% 27% 28% 27% 23% 0% 20% 40% Belgium UK Germany France Spain Italy % Online Sales 28% 24% 23% 29% 27% 34% 0% 20% 40% Belgium UK Germany France Spain Italy % Research Online / Purchase Offline
  9. 9. The “digital client” and his expectations 9 Once at point of sale, «advice» can influence the purchase decision in a material way and the type of product purchased Importance of online presence Effectiveness of ROPO 0% 5% 10% 15% 20% 25% 30% 35% 40% Online ROPO Conversion 7-15% 25-50% Purchase Decision First contact with salesforce
  10. 10. Agenda 10 About us The “digital client” and his expectations What is ROPO? How can we make ROPO a success? Case study
  11. 11. Overview of ROPO within the marketing funnel: objective is to capture “leads” 11 ResearchOnline Purchase Offline ROPO is based on a funnel aimed at generating leads online for your salesforce, which then works on conversion Attract clients through SEO or advertisement, generating traffic on our landing page 1 Offer free content on the landing page with a clear «call to action» 2 Offer ««freemium» content to those responding to the call to in exchange for some personal data 3 Use these data to contact prospects and to convert leads into clients 4
  12. 12. Successful ROPO models make correct use of its core ingredients 12 ResearchOnline “Hook”, audience and $ spent Landing page and “call to action” Premium Content Contact form and tracking • Has to be powerful. Best include questions, quizzes, …. Insurance “quote&buy” not enough! • Audience has to be big enough, else nothing comes out at the bottom of the funnel • Presents value proposition clearly and succinctly • Has one “call to action”, which is preeminent • Offers clear opportunities to learn more in detail before accepting the “call to action” • Interesting and well structured • Not over-abundant, so it can be read real-time • Any additional content is hidden behind “wall” • Very limited number of fields • Offers a tracking code/tool to be used in-store • Allows to choose store which will follow up
  13. 13. Topics that are attractive for your audience vs. the ones you like 13 Sport1 2 Gossip 3 Blogs and cooking pages 5 Daily News 4 Entertaining Videos Find ways to entertain… Insurance is very boring for the average consumer Topics your audience is interested in Topics insurers talk about Family protection1 2 Wealth protection 3 Professional Indemnity and Business Insurance 5 Related topics (road safety…) 4 Investments and Savings
  14. 14. Example: Zurich Italy Ad and «call to action» 14 Call to action in the Ad: Visit Zurichcasa.it Benefit: discover your ideal Home and you can win €50 in Amazon or Apple vouchers Facebook Ads
  15. 15. Example: Zurich Italy Landing page and further «calls to action» 15
  16. 16. Organization and incentives to ensure correct management of leads and optimization of conversion 16 PurchaseOffiline Share vision Agree commercials Share “best practices” / offer tools Track referrals and monitor results • Your distribution partners will need to work on converting the leads generated online • If they do not understand, are not committed to the model, it simply will not work • For single-tied agents, can work on converted leads/commissions • For brokers/multi-tied agents, work per lead • Your field partners will need to be trained / supported on leads tracking/management to maximize conversion • Need to review results with partners and define improvement plans to achieve the best results Getting the customer data is only the first step. You need to improve how these leads get turned into business
  17. 17. Agenda 17 About us The “digital client” and his expectations What is ROPO? How can we make ROPO a success? Case study
  18. 18. Does and don’ts in conceiving a successful ROPO model 18 Does • Cover topics that are attractive for your audience • Make it fun! • Build trust • Leverage social media and influencers • Partner with salesforce Dont’s • Don’t sell a product, address a need • Don’t built it all, but provide the key ingredients to your distribution partners • Don’t compromise on Journey and Experience • Don’t transpose messages and ads from offline
  19. 19. Key design questions (1/2) 19 1. What is the overall objective of our ROPO initiative? Gather contacts? Offer configurable product information? Offer accurate quotes or indicative ones? 2. What will be the hook to engage with the consumer? Quiz, competition,… Have we tested the effectiveness of a similar hook before? 3. How is the landing page going to be designed? Does it apply all the best practices? Is the proposition we offer truly compelling? Is there the right amount of information in terms of insurance product? Is it easy to understand and structured at the right level? 4. What specific customer information are we looking to gather? Which one is really needed? Is there a way to get the same information in a different way? How about compliance with Data Privacy laws and other customer protection regulations? 1 2 3 4
  20. 20. Key design questions (2/2) 20 1. How are the leads going to be passed to the salesforce? 2. What happens then? What type of follow up is expected? By when? 3. Are there clearly defined processes on how leads should be managed? What are the tools to track and support them? Does the salesforce use them? 4. What are the training needs of the salesforce with regards to contact and maximization of conversion? 5. Are incentives aligned? How can we make sure ROPO is creating value for both us and the salesforce? 6. What are the overall expected results in terms of conversion? Are we achieving them? Why? Why not? 5 6 7 8 9 10
  21. 21. Agenda 21 About us The “digital client” and his expectations What is ROPO? How can we make ROPO a success? Case study
  22. 22. Case study 1: Allianz One Overview 22 Allianz was the first insurer to apply ROPO in Italy with the Allianz1 product • Launched in 2014, with the slogan «Subscribe to happiness» • Configurable non Motor product, with monthly payments • Client can configure product online, but cannot buy online • >250.000 policies sold • Same model for SME with up to 5 employees (launched in 2015)
  23. 23. Case study 1: Allianz One Product configurator 23 • Configuration starts with limited infos: date of birth, profession and location • “Add in” system for covers for Home, Personal and Mobility protection • Can see and customize them • Can visualize the ones included and the price
  24. 24. Case study 1: Allianz One Quote save and selection of agents for handover 24 • Price is quoted and paid monthly, as per the “value proposition” of the product • Can save quote and add email address to receive quote • Can find and select the most convenient agent • Each quote is attributed a unique number, so it can be retrieved by any member of the salesforce
  25. 25. Thank you! Carlo Palmieri Managing Director and Founder CP Consulting Solutions carlo.palmieri@cpconsul.com

Research Online - Purchase Offline. How does ROPO work in practice in the Insurance business? How can sales processes be optimized?

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