Each year, PIMA recognizes the outstanding achievements its members have made in sales and marketing via the Insights Awards. Despite the global coronavirus pandemic, this year was no exception.
The sales and marketing award winners receive gold, silver, or bronze awards based on scores in three areas: results, marketing strategy, and creative execution. PIMA members can enter their work in any of our six awards categories.
In addition, the Insights Awards judges recognize the "Best of PIMA." This year, AGIA Affinity received that honor for its incredible achievements in marketing. AGIA Affinity is a full-service broker, marketer, and administrator that manages insurance and noninsurance benefit programs for more than 100 affinity groups and 30 million members. Its innovative sales and marketing campaigns for 2020 helped increase revenue and conversions while showcasing AGIA Affinity's unique brand voice.
Here is a breakdown of our six awards categories as well as a look at this year's award-winning campaigns:
- Lead Generation
In this category, the focus is solely on campaigns responsible for lead generation, not sales conversions. However, entrants must include conversion results so the judges can get a full picture of the effectiveness of these campaigns.
- Gold: AGIA Affinitycreated a campaign that shifted from using direct mail to showcase the value of insurance products to a digital approach.
- Silver: Franklin Madison
- Bronze: SelmanCo
- Solicitation for Guaranteed-Issue/Simplified-Issue Product
To be considered for this category, a campaign must be a solicitation-based customer acquisition offer for a guaranteed-issue or simplified-issue product (i.e., a product that necessitates applications but not lab tests or paramedical exams).
- Gold: TMAITand Bodden Partners created an omnichannel approach to sell to an aging population that exceeded its annual premium goals by more than 50% while decreasing marketing costs by 40%.
- Silver: Prudentialand AGIA Affinity (tie)
- Bronze: The Hartford
- Solicitation for Underwritten Product
This category scores solicitation-based customer acquisition offers for underwritten products (i.e., products that require applications with health questions in addition to lab tests or paramedical exams).
- Gold: Prudential took a product that is perceived to be complicated and time-intensive and simplified it with a multitouch campaign, which saw 174% more application submissions than previous campaigns.
- Silver: TPG
- Bronze: Prudential and Pearl Insurance(tie)
- Customer Cross-Sell and Upgrade Marketing
This category focuses on sales materials — such as digital marketing — created specifically for cross-selling extra products or upgrading them.
- Gold: AGIA Affinity created a personalization strategy that increased revenue per member. The approach resulted in a 34% positive acceptance rate, with 93% converting to paid.
- Silver: Prudential
- Bronze: No placement
The conservation/retention category recognizes campaigns designed to retain existing customers.
- Gold: AGIA Affinity worked to improve the user experience with the help of its customer call center team. The campaign led to a 255% increase in autopay enrollments.
- Silver: SelmanCo
- Bronze: Driasi
Campaigns recognized in this category aim to promote an organization through branding or rebranding and continuity communication plans. Rather than rewarding for ROI, the judges focused on creativity and strategy.
- Gold: Pearl Insurance formulated a creative strategy that tied to its campaign theme perfectly, incorporating an exceptional brand video.
- Silver: Prudential and Driasi (tie)
- Bronze: Franklin Madison
Sales and marketing awards might not feel top of mind in 2020, but PIMA believes in the importance of celebrating results. If you'd like to experience the value of recognition among peers, become a PIMA member today to participate in the 2021 Insights Awards — nominations begin in February 2021.
Published on September 22, 2020.#Blog#SalesandMarketing#2020