With over 2,700 sessions across 4 days, it's impossible to cover everything at Dreamforce. That said, I had locked down a few that I definitely wanted to see.
The stand out session came during the CxO insurance briefing. Rise McKeel Hagerty, CEO of Hagerty Insurance. Although he didn’t talk to insurance initially. Instead McKeel stood up and showed us what being passionate about something really means - in this case, classic cars.
And when I say passion, I mean we got nitty gritty into the detail here. From the Mercedes which image has been flipped to make it a right-hand drive (they never built one), to the E Type Jag with white wall tyres (I kid you not, someone did this). Oh, and Hargerty happen to sell insurance.
With some super powerful videos, McKeel talked about what mattered to car enthusiasts and what interests them. This is more than an insurance company. This is the service based model that we've been predicting will become more prevalent. Their services include breakdown cover, a huge number of events, how to videos, one of the largest magazine distributions and so much more.
It's more akin to a subscription/membership service for something that you are passionate about as opposed to a straight forward insurance policy with add-on's.
Head over to their YouTube channel to join over 500,000 other subscribers. You won't find much about insurance, instead it's video after video about how to rebuild a Hemi, or rescuing a barn car, it's riveting!
The most surprising thing, which supports the above membership vs insurance model, is the amount of interactions they have with their customer base each year. EIGHTY-SEVEN! Yes, eighty-seven touch points per year.
Okay, admittedly 52 of those are the weekly newsletter, however that still leaves a further 35 touch points from owners.
I was intrigued to hear that they have no plans to leverage this super loyal base in any other way. They wont be doing home or other insurance anytime soon.
In 2017, they did however acquire a peer to peer sharing platform DriveShare, so if you want to hire a classic car, you can jump on and do just that. Again, notice the focus on the same thing you are passionate about in the first place - classic cars. It's all carefully connected and true to the customer.
This is the same sort of focus highlighted by Bought by Many, creating mirco-groups of like minded individuals around a shared passion. BBM have groups for pets, travel and many more.
So for me, it highlighted once again, that to build and nurture loyalty you need to truly understand the customer group you are engaging with and treat them with respect and insights that help them focus on their passion.
they have on average 87 touch points per year for each customer!