Insurance marketers at all levels agree: demonstrating ROI is their #1 challenge.
According to the 2021 State of Insurance Marketing report, 50 percent of respondents listed “Demonstrating a correlation between marketing and sales” as the top challenge in their role.
That figure isn’t surprising. The ROI of marketing efforts in all industries is notoriously nuanced and difficult to pin down. Quality marketing is about building relationships, expressing your brand and attracting your ideal customer - all of which can take more time than companies might expect.
The good news is that HubSpot has created tools to help marketers track and quantify the impacts of their marketing.
HubSpot Contact Create Attribution
Let’s say you’ve been working hard on your marketing and you’re getting loads of new contacts. Great! But there is a problem here: if you’re marketing in multiple ways, then how do you know where each contact is coming from? Without that key information, it’s going to be difficult to properly engage with those contacts, and focus your energy on what really works.
That’s where the HubSpot Contact Create Attribution comes in. This feature creates a report that shows you where your contacts came from when they were added in the HubSpot CRM.
This is also an excellent feature for proving ROI: know where your contacts are coming from, and assess which marketing channels are bringing in the most qualified contacts.
Full Contact Records
Marketing is only effective if you really, truly understand who your customers are. And this doesn’t stop at making the sale. Repeat business is essential in insurance, and knowing what your clients need now - and in the future - is likelier to result in long-term customer relationships.
Your CRM should be able to capture your interactions with your customer, and make it as simple as possible to look back on their previous purchases, questions and comments.
The HubSpot CRM retains key information from contact to customer and beyond. That includes where a contact came from, which emails they open, who they’ve been working with on your team, and how they’ve communicated with you. Having a clear record of all of that activity can help marketers grasp what is or is not working - both from an individual level, or a bird’s eye view.
HubSpot Marketing and Sales Alignment
How closely do your insurance marketing and sales teams work? If you’re like many companies, these two teams are likely siloed, with minimal crossover. If that’s true for you, it might be time to rethink that approach.
Your marketing and sales teams bring different strengths to the table, but they should be sitting together at that table. When your marketing team knows what’s working for sales, they can finesse their messaging to attract more ideal clients. And when your sales team is engaging with potential customers, follow-up marketing can help close the sale. In fact, sales and marketing alignment can result in a 67% increase in closing sales.
This partnership doesn’t end after signing on a new customer, either; these teams can work together to delight customers throughout their entire time with your company. When they’re on the same page, they create a more seamless, enjoyable experience for the customer.
HubSpot offers the capability to host both sales and marketing teams, who can then collaborate and share their information in one dashboard.
Easily Demonstrate Revenue Influenced by Marketing Activity
In order to prove marketing ROI, you need to be able to show the flow of business in relation to marketing efforts. This isn’t always clear cut, and can take shape in a variety of pathways and entrances. But don’t worry - there’s a tool for that. Actually, with HubSpot, there are several tools. Here are just a few that top the list:
Ad ROI: The Ad ROI tool is an excellent resource for anyone running ads on multiple platforms. Keeping track of those ads can be a challenge, but this tool has simplified it tremendously. Marketers can use the information from their HubSpot CRM to create and optimize ads based on their contacts, and where they are in the buyer’s journey.
Content Type Attribution Report: There are so many options for your next marketing move - but which one resonates most with your customers? Are your videos, emails, blog posts or social media activity bringing in the most new business? The Content Type Attribution report breaks down which sources are translating into the most closed sales, which will give you a better idea of where to spend your time.
Contact Create Attribution: Like we mentioned above, Contact Create Attribution gives everyone from the sales team to leadership a line of sight on where new deals originated, and how they were influenced along the Buyer’s Journey.
If you’re overwhelmed trying to prove the ROI of your marketing efforts, hopefully this list will give you some insight into the tools and solutions that HubSpot has to offer.