By understanding the cognitive orientation of individual customer segments, Allianz Greece was able to craft distinct customer experiences
“For an insurance company, a sale is not always a success. It is not about money in your pocket, but about risk.” -- Julie Panagou, Marketing, Allianz Greece
Ms. Panagou’s quote is something we don’t hear often enough from online merchants - yet we wholeheartedly agree. Conversion is not always the end game, and certainly not always the measure of online marketing success. Why? Because every business has its own unique KPIs and goals. Online and off, there’s not a one-size-fits-all definition of success.
As we discuss in our new case study, this was exactly the case with Allianz Greece, a member of the multinational Allianz Group, which offers a wide range of insurance and fund products to over 86 million customers in more than 70 countries. The savvy online marketing team at Allianz Greece was seeking to enhance overall profitability by encouraging visitors who were likely to be profitable, while discouraging customers who were likely to generate large payouts.
The trick was in figuring out how to reveal and interpret the distinct digital body language of profitable versus non-profitable customer segments. How could Allianz Greece uncover the cognitive orientation that influenced the behavior of customers from each segment? And how could they use this insight to create personalized customer experiences that advanced the business goal of selling profitable policies?
This is where Clicktale came in.
Understanding Cognitive Orientation
Allianz Greece decided to use Clicktale to drill down into the well-trafficked auto insurance Policy Options page, the core page of their policy funnel. The page features a large table of options and plans, and the marketing team was concerned that the steep drop-off rate was due to customer confusion.
Allianz Greece needed to look beyond the numbers. Their marketing team wanted to find out how involved, interested and attentive each visitor was – to discover the underlying cognitive orientation of each customer in order to ultimately understand how to increase profitability by encouraging conversion selectively, from the right visitor segments.
What they found was fascinating.
Many visitors from the profitable segment who came to the site exhibiting a focused cognitive orientation – meaning they seemed to know just what they wanted – engaged far less with the various policy options, yet converted far more. Visitors from the non-profitable segment, on the other hand, engaged with prices, payment plans and free service options much more than profitable customers – yet converted less frequently.
In other words, the more engaged the visitor was, the less likely he or she was to convert. This contradicts many common assumptions about customer engagement, yet the findings were irrefutable.
What’s more, by measuring visitor states of mind, Allianz was able to understand where profitable customers were likely to get stuck, smooth the user experience accordingly, and create a segment-specific customer experience. They were also able to identify points at which they could actually create friction, to discourage non-profitable conversions.
To learn more about how Allianz Greece used Clicktale to personalize the customer experience based on psychological insights, download the case study now!
The Bottom Line
The increasing sophistication of customer experience management solutions enables us to re-think everything - from what we think our customers are thinking, to why they’re doing what they’re doing. Conversions, it turns out, are not always the best indicator of success. Very much like the real world – in which a smile can be happy, sad, or politely angry – digital body language needs to be quantified, monitored, and interpreted smartly to help digital marketers do their jobs better.