CASE STUDY

INSTILLING CONFIDENCE IN THE PURCHASE DECISION

CASE STUDY

INSTILLING CONFIDENCE IN THE PURCHASE DECISION

Understanding the purchase decision process and finding ways to improve the experience are critical in any category. It’s particularly important for marketers in industries like insurance, where the purchase cycle is less frequent and costs can be substantial.

Our insurance client was looking to deepen their understanding of the path to purchasing coverage among small business owners. We conducted research designed to help them uncover unmet needs and identify opportunities to differentiate their brand with new products or services.

THE CHALLENGE

Understand the selection process for choosing property and liability insurance, including:

Assessing expectations of insurers compared to satisfaction with current carriers

Evaluating the role property and liability insurance plays in helping them succeed as business owners

Explore untapped opportunities to develop innovative, customized products and services to meet industry-specific needs

THE RESEARCH

A series of in-depth executive interviews were conducted with small business owners across growth industries in key markets

Participants included current customers and prospects to gauge the brand’s position within the competitive set

Focused on key growth markets to uncover new product opportunities targeted to specific industries

THE RESULTS

Identified need to develop educational messaging designed to instill greater confidence in owners’ choice of coverage

Uncovered opportunities to build relationships and offer professional assistance before and after the purchase decision

Revealed need to create new, highly-customized liability products for key industries

Conducting research on the purchase decision process can reveal insights into your customers’ needs and motivations, providing a strong foundation for refining marketing communications and exploring directions for new products.