Our world is changing fast. Consumers have new purchasing expectations, and they demand simplicity at every turn. In fact, 64 percent say theyâ€™ll pay more for simpler experiences.
To stay ahead, itâ€™s crucial to understand the reasons behind consumer behavior, and where it might be headed next. Doing so will help you forge deeper connections with membersâ€”today and in the future.
Here are some steps to help you grasp the changing life insurance landscape, and to simplify your products and services in response.
Identify with todayâ€™s consumers.
Credit union demographics are shifting, with multicultural membership growing 61 percent in the last five years.2 And with more seniors heading onlineâ€”45 percent visit provider websitesâ€”plus 79 percent of millennials wanting life insurance thatâ€™s easy to understand, there are many unique demands to address. 3 Make sure to work the values of these hardworking consumers into your communications to truly resonate.