The paper "Current Marketing Trends in AAMI Car Insurance" is an amazing example of a case study on marketing. The market trends in the insurance industry today have been largely influenced by the change from traditional to emerging markets, which has, in turn, influenced product development, investment, and marketing strategies. In addition to a change in growth drivers in the insurance industry, the attitude of the market has also been influenced by societal concerns regarding the environment, material usage, urban congestion, and energy efficiency. Over the years, the business of the insurance industry was focused on simply producing and selling policies.
However, insurance providers have now realized the importance of meeting consumer requirements (Gordon, 2005). In general, the primary trends in the Insurance industry include collaborations; alternatives to policyholders; non-Insurance entrants; involvement of sub-tier suppliers t become more strategic; increasingly stringent and environmental regulations; the influence of social media on marketing; and shifting the competitive landscape (KPMG, 2012). AAMI Insurance USPs Insurance policy providers were among the first businesses to identify and utilize the value of an online presence to attract more clients by developing web sites.
Despite their initial reaction, they have fallen behind in using digital opportunities to reach their clients online by insisting on using offline marketing and managerial systems. The use of digital media and mobile ads came later for the Insurance industry compared to other businesses. Various reports suggest that this industry has just recently begun to take advantage of digital media for marketing its products through print, radio, and direct mail. The same reports suggest that the Insurance industry directs about 40% of its marketing budget to digital advertising every year (Brown, 2003). The past few years have seen a growing trend in policy marketing involving reaching out to consumers during different stages of the purchase funnel.
For instance, in the first quarter of 2012, Insurance providers rolled out brand awareness campaigns with the view to reaching about 25% of policy buyers at the research stage. Like other businesses, insurance providers are using mobile ads to maintain their market presence and produce leads that contribute to additional sales (Gordon, 2005). AAMI Insurance USPs acknowledges the importance of being well placed during different stages of a potential customer’ s purchase funnel.
As such, they make use of search-based digital advertising to differentiate themselves from other manufacturers and identify with potential consumers as experts in the provision of meaningful content at their own convenience. Addressing current needs As mentioned above, policy providers have changed their focus to emerging markets where the demand for new insurance policies is significantly high. The primary need for various policies is a combination of the satisfaction of the transformational need and as a status symbol.