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How to Market Insurance Products and Services to Gen-X

Personalized marketing trends are here to stay. That means adapting your communications and style to suit your different consumer segments — and this is particularly important when selling insurance products. Learn creative ways to market to Gen-X, which has the second highest purchasing power in the US after Baby Boomers.

 

How to Market Insurance Products to Gen-X

Gen-X is made up of individuals born between 1965 and 1980, which means they are 44-59 years old in 2024. This group has the second highest purchasing power following the Baby Boomers. This group is influential, so it is important to have a marketing plan designed specifically to reach Gen-X consumers.

Try these three tips for marketing insurance products and services to Gen-X:

 

Provide a true omni-channel experience.

An omni-channel experience doesn’t just mean marketing in different ways, although that does help. It means meeting your consumer where they are at and marketing to them in the ways they want to be reached. Consider what is meaningful to the Gen-X consumer and where they may be spending time to decide how to market to them.

Certainly Gen-X consumers are tech-savvy and spend time online, but they may be more likely to be on YouTube and LinkedIn. In-person marketing strategies may also be effective with this generation when you consider they are a group who enjoy spending time out with friends — and they may be caring for young children or elderly parents at home. This means traditional direct mail advertising as well as billboards may be effective alongside digital methods.

Consider creative ways to market to Gen-X.

Loyalty programs and discount cards are popular with Gen-X consumers. And while you need to consider regulatory concerns, there are ways to appeal to this trait of Gen-X as an insurance agent. One way to market creatively to Gen-X is by working with them to find the best rates and discounts on their insurance program.

Think about all the discounts a policyholder can earn from their personal auto insurance company, like a discount for being a safe driver, paying electronically, bundling auto and home policies, and paying off the policy annually instead of in monthly installments. Drivers can also try out the telematics program offered by most major auto insurers, which provides discounts when drivers prove their safe driving habits. These different ways drivers can earn discounts may appeal to the gaming instincts of Gen-X consumers.

Focus on customer service.

Having excellent customer experience is critical to Gen-X consumers. Provide service options in various ways that policyholders can easily access, like digital chatbots, self-service FAQs, human representatives who answer calls or texts, and proactive communications through email or traditional mail. Remember Gen-X consumers like to communicate in various ways, and though they often choose self-service options they demand superior customer service experience.

 

Join the American Agents Alliance for More Agent Resources

Join the American Agents Alliance for more helpful resources designed especially for independent agents and brokers. Our member resources include valuable discounts, networking opportunities, and access to E&O insurance quotes. Become a member today!

 

 

External Links:

  1.   https://porchgroupmedia.com/blog/generational-consumer-shopping-trends/#:~:text=According%20to%20the%20research%3A,%24322.5%20billion%20in%20annual%20spend
  2.   https://www.forbes.com/sites/forbesagencycouncil/2021/05/12/three-tips-for-marketing-to-generation-x/?sh=10e300677cf9
  3.   https://www.bigcommerce.com/blog/gen-x-marketing/
  4. https://www.iii.org/article/background-on-pay-as-you-drive-auto-insurance-telematics



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