Study Shows That Psychographic Marketing Could Be the Best Way to Boost Annuity Sales
Marketing is a major part of an annuity agent's focus when trying to identify potential clients, with many agents emphasizing home ownership, marital status, and other demographic cues to generate business. But recently, some annuity agents have taken to a different strategy: psychographic marketing.This type of marketing hones in on lifestyle, values, interests, and more personal information. This data is then combined with demographics to calculate the probability that a particular individual or household will conduct business with an annuity agent, according to Jeremy Rettich, the president of an insurance marketing organization in Tennessee. This helps agents narrow their list down to a manageable handful of prospects they can expect to attract.
Rettich explains that the benefit of ...