Study Sheds Insight into Shortcomings of Annuity Marketers' Web Sites |
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Written by U.S. Insurance News
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Sunday, 23 March 2008 |
No one annuity seller can claim perfection, but ING is the best overall when it comes to its online marketing.
That's the assessment of Corporate Insight, a research and analysis firm for the financial services industry, which conducted a study of the methods that ten firms offering annuities use to market products and product-related content to advisors online.
The study focused on the two areas of a firm's advisor site that receive the most traffic: the advisor homepage and annuity section. Together, the firms offered "average" product marketing content on their advisor Web sites, leaving plenty of room for improvement.
In a 53-page report, "Product Marketing: The Advisor Experience," Corporate Insight evaluates each firm using a set of 10 specific attributes. The advisor homepage, advisor site annuity section, and advanced product marketing features of each site were examined. Only one firm, ING, performed well overall, and no firm excelled in all criteria.
Ben Pousty, senior analyst with Corporate Insight, said the largest shortcoming of the firms was the lack of promotional content situation in the annuity sections of their Web sites.
"Only four firms offered promotional images on the annuity overview or product pages, while just one firm provided a Flash promotional video," Pousty explained. "By neglecting the annuity section, firms are throwing away an excellent opportunity to market their annuity product and living benefit riders."
The "Product Marketing" report also contains detailed findings, a summary matrix, and specific recommendations on what firms can do to improve their product marketing efforts.
Key findings of the study include:
- 90 percent of firms offer linked promotional images on the advisor homepage.
- 70 percent of home page promotions include literature or marketing materials.
- 70 of firms feature sales campaigns online.
- 40 percent of firms offer Flash-based promotions on their home page.
- More than half the firms ignore the potential for promotions within the annuity section.
- Only one firm promotes a sales tool on their home page.
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