Military Discounts mean more than savings
Why asking about military service matters
For customers who have served our country, recognition matters.
A military discount can certainly help an eligible customer save, but research suggests its impact may extend well beyond price. Military customers actively seek out brands that recognize their service, and that recognition can play an important role in where they choose to do business and which brands earn their loyalty.
For agents, that makes one simple questions about military service an important part of the customer conversation.
Military customers notice the brands that recognize them
Research reported by MediaPost surveyed over 6,300 veterans and 2,000 active service members about their online shopping habits. The results demonstrate just how meaningful military discounts can be to this audience.
> 96% said they were more likely to remain loyal and return to a retailer offering an exclusive military discount
> 90% said they would choose a retailer offering an exclusive military discount over one that did not
> 95% said they perceived brands offering military discounts as patriotic and/or caring about veterans
> 89% said receiving a military discount made them feel honored
That last statistic is particularly meaningful. A discount may be expressed as dollars and cents, but customers can experience it as something more: recognition of their service.
PYMNTS, reporting on the same research, also found that 95% of respondents searched for exclusive military discounts before making online purchases, while 97% reported using a military discount within the previous year.
For agents, those numbers reinforce an important point: military discounts are something these customers are actively looking for. Asking the question means eligible customers don't have to know about the savings opportunity before they walk through your door or begin a quote.
One question can help strengthen the customer relationship
At GAINSCO, our Military Discount gives agents an opportunity to help eligible customers save while recognizing the service of our military community.
For customers who qualify, making sure they receive the discount starts with something very simple:
Ask.
Don't assume a customer will volunteer their military status or already know that a Military Discount may be available. Make it part of your conversation when you quote and bind a policy.
Think of the question as part of the customer lifecycle:
QUOTE → BIND → RENEW
Ask at quote. Find out whether any rated driver may qualify.
Confirm at bind. Make sure eligible customers aren't leaving an available savings opportunity on the table.
Ask again at renewal. Life circumstances change, and eligibility may have changed since the previous policy term.
Savings can open the door. Recognition can strengthen the relationship.
Price will always matter in insurance. But the research shows that, for military customers, recognition matters too.
When 96% of respondents in the MediaPost survey say they're more likely to return to brands offering military discounts, and 95% view those brands as patriotic and/or caring about veterans, there is a compelling relationship-building opportunity behind the savings.
*Military Discount availability, eligibility requirements and discount amounts may vary by state and are subject to change. Refer to your state-specific GAINSCO FFG for complete details.
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Questions? Contact your Sales Leader or call us at (866) 424-6726 to speak to our insurance experts.