Zurich launches iPad communications mix simulator
Designed in partnership with the Beddoes Institute, the net reach simulator is an interactive iPad app which calculates the effectiveness of a communications mix based on the generational profile of an adviser's client base.
Based on research conducted with over 500 advice clients as part of the AFA Adviser of the Year judging process, the app enables advisers to quantify the efficacy of specific communication channels with different client generations, measured against criteria including reach and the impact on a client’s likelihood to refer and relationship strength.
Mr. Richard Dunkerley, Head of Marketing for Zurich's Life & Investments business, said the power of the simulator lay in its simplicity of use and the variety of ways it could be applied to an adviser's business.
"As well as quantifying the effectiveness of their current communications mix, the app also allows those advisers wishing to shift the profile of their client base, for example from Baby Boomers to Gen Y, to adjust their communications mix accordingly," said Mr. Dunkerley.
"By simulating the impact on reach and relationship strength of adding a new channel, for example printed newsletters, the app allows advisers to make more informed decisions about whether the investment in that channel is warranted,"said Mr. Dunkerley.
AFA Adviser of the Year Jenny Brown has been involved in the beta testing of the simulator, and has already seen the value in putting her own practice under the microscope.
Ms Brown said "The simulator has broad applications across our business but has proved particularly valuable in tailoring a communications strategy for a new group of clients recently acquired from another business.
"It has also shown us which channels work best for events or campaigns with specific client segments, helping us maximise impact and minimise wastage", Ms Brown said.
The release of the app coincides with the launch of Zurich's Trax2Success roadshow, a national series of events showcasing practice management and business improvement insights from leading financial advisers and industry experts.
"As one of the last truly independent insurers in the market and a longstanding champion of advisers, we are committed to helping advisers create value for their customers, and this latest innovation is just another example of how we bring that commitment to life", said Mr. Dunkerley.
The iPad version of the simulator is available exclusively from Zurich BDMs, with a desktop version available from the AFA.
For further information contact:
Head of Marketing and Communications,
Zurich Life & Investments
Phone: +61 2 9995 1127
Zurich Insurance Group (Zurich) is a leading multi-line insurer that serves its customers in global and local markets. With about 55,000 employees, it provides a wide range of general insurance and life insurance products and services. Zurich’s customers include individuals, small businesses, and mid-sized and large companies, including multinational corporations, in more than 170 countries. The Group is headquartered in Zurich, Switzerland, where it was founded in 1872. The holding company, Zurich Insurance Group Ltd (ZURN), is listed on the SIX Swiss Exchange and has a level I American Depositary Receipt (ZURVY) program, which is traded over-the-counter on OTCQX. Further information about Zurich is available at www.zurich.com.