June 16, 2021 - New to your market? Insurance ads can help you alert your community that your agency is open for business! The goal of insurance advertising is to get your agency in front of potential policyholders when they’re searching for services like yours. Following these tips, you can make the most out of your insurance ads.
1. Set attainable goals.
Before creating ads, you first need to decide what your goals are for each campaign. These goals should be specific and, when possible, measurable. If this is your first time using insurance ads, you may not be able to determine what kind of click-through or conversion rate to expect. Don’t sweat it! That kind of knowledge will come with time.
Instead, you can set goals based on what you’re hoping to accomplish with your insurance ads. If you’re simply looking for brand awareness, you may look primarily at your impression and click-through rate. If you’re hoping to convert leads into customers, you will likely focus on your conversion rate, or the ratio of people who took a desired action on your webpage.
Knowing what you want from your insurance ads will help you measure the effectiveness of your ads over time. Setting goals can also help you tweak your ads based on their ability or failure to meet your expectations. Remember that these goals should be attainable. If you’re currently getting 5 internet leads a month and are expecting to jump to 100 leads a month, that may not be a reasonable goal right away.
2. Decide on your budget.
Insurance ads are a pay to play game. However, when you start seeing results from your advertising efforts, the ends can often justify the means! There are multiple factors that can inform how you budget for advertising. Here are a few things you should ask yourself:
- How much revenue does an individual client generate on average?
- How many leads are you expecting to obtain per month?
- How many of those leads are likely to become policyholders?
- How much of your marketing budget can you afford to set aside for insurance ads?
3. Target your ideal customers.
Advertising platforms, like Google Ads, enable you to target your ideal customer based on identifying qualities like demographics and location. But before you can determine how to best target your customer, you first need to understand your customer.
Make a list of characteristics that describe your ideal customer. Here are some qualities that can impact how you target your ads:
- Age range
- Gender
- Location
- Type of policy
- Customer’s end goal (budget-friendly auto insurance, comprehensive life insurance, policy bundles, etc.)
As a local business, location targeting will have a huge impact on your insurance ads. You can set your location by city, region and even the radius from your office. Location targeting will prevent you from wasting money on clicks from people in Utah when your agency is located in Florida.
Keywords are also essential to targeting your insurance ads. When choosing keywords, try to imagine the way you’d search for a business like yours. Would you search by carrier, location or policy type? Maybe some combination of the three? We suggest running multiple campaigns simultaneously using different keyword phrases to help identify which perform best.
More Insurance Advertising Tips
Not convinced insurance ads can help boost your business? Read this blog to learn what makes this strategy so effective. Or, maybe you’re ready to get started on advertising but need a little more help to get going. Contact Melon Local to see how we can earn you more leads!