Strategy review: Thrivent display and Facebook ads
At the end of February 2021, Thrivent began running display ads to encourage potential customers to check in on their current life insurance coverages. In providing broad motivators like “It’s time” or “Keep your priorities covered,” the brand left the interpretation and perceived need up to the consumer, thereby creating subliminally sticky messaging without pigeon-holing itself.
Thrivent’s more targeted Facebook ads could be enhanced by answering why consumers should consider life insurance with specific life changes.
New life changes? The ad copy could benefit from explaining why certain life changes create the opportunity for insurance adjustments.
Retiring soon? Similarly, Thrivent’s ads for the retiring population may be better served by positioning coverage as a way to help navigate the changes brought by retirement.
Baby on board? The ad created a frame of reference for those expecting but providing additional context as to why the changing life stage is a time to check up on life insurance coverage may resonate more strongly.
What we think
To avoid putting their eggs all in one basket, life insurers should be communicating with customers throughout life’s transitions.
As life insurers continue their attempts to resonate with the various life stages of potential customers, it is crucial to authentically speak to the individual needs within the specific stages. For instance, those retiring and those starting a new family have different needs and motivations for securing or increasing coverage. Therefore, taking the sentiments beyond “protecting those that matter most” to show the actual benefits in action could make the ads more relatable. The use of vivid imagery can create the opportunity for potential customers to relate their day-to-day experiences to the ad, making the ads more relatable and not overly salesy.
Customers need to be able to see and feel the importance of a product like life insurance in which the value lives intrinsically. Marketers can bring this to life by authentically speaking to the nuances of varied life stages.
Source: Comperemedia Omni [01/01/2021-03/09/2021] as of 03/11/2021