July 22, 2022 - When it comes to incorporating online ads in your insurance advertising campaigns, having the right display and search ads can make a difference in growing your agency.
While both of these ad formats should be utilized by your agency, they each have specific advantages for different types of campaigns. You can also waste a decent chunk of your advertising budget if you’re not using the right ad types for your agency’s goals.
So, what’s the difference between these ad formats, and how can you use both search and display to maximize your ROI?
Let’s take a brief look at what you should know about the advantages of search ads versus display ads and which ones serve a better purpose for your campaign and your agency.
Before You Get Started
One of the key differences between display ads and search ads is that display ads are known as “push” advertising, while search ads use “pull” advertising. In other words, display ads are paid placements that appear based on different targeting parameters. In contrast, search ads only appear to those who are already searching for your products or services.
If you’re trying to advertise a new agency, it’s imperative for you to set realistic goals, decide on a budget and figure out your target audience.
Although display and search ads can be utilized in your insurance marketing strategy, your campaign shouldn’t focus on advertising to the biggest audience — it needs to be geared toward the right audience!
Search Ad Advantages
Higher Conversion Rate
Search ads have a higher lead conversion rate than display ads since they involve a deliberate intent for your audience to search for and buy your products. Although they can vary with different accounts, Melon Local’s conversion rates can reach upwards of 50 percent or higher.
When it comes to search intent, knowing what keywords to use is important. Make sure to use different keyword match types to trigger your ad, as well as negative keywords, so your ad isn’t triggered when users search with keywords that aren’t relevant to your insurance office. Doing this will make you more likely to create ads that better match your audience’s search intent.
You Can Better Control Your Budget
Since search ads have a higher conversion rate than display ads, mapping out your budget is a lot easier. Since you can bid on highly relevant keywords and reach higher quality leads, it’s easier to measure and justify PPC efforts for your advertising budget. Although CPC for display ads are often cheaper than search ads, it can potentially cost more in the long run since they tend to have lower conversion rates.
Supplement Your Organic Traffic
One of the appeals of search ads is that they can help users find solutions much faster versus organic results, which focus more on comparative content. Search ads are a great way to build your organic presence in the short run since you’ll stand out from the crowd by having your ads closer to the top of people’s search results.
Display Ad Advantages
Visual Content
Unlike search ads which are only limited to a headline, descriptive text and a URL, display ads can be used to advertise with visual content. For example, if you offer auto insurance, having an image of a car and a simple call to action can be a simple and effective way to get your message across. If you have the capability to create a video ad, chances are you’ll even have higher engagement.
Retargeting
Display ads are especially effective since they can be retargeted toward users who may have seen or engaged with your agency in the past. With display ads, you can stay in front of your audience and stay top-of-mind — even long after they’ve left your site.
Brand Awareness
Let’s say your agency is planning on launching a new product or service — how high do you think the user search intent will be? Likely not very high since there may be no need or knowledge about it yet. Display ads are a great way to create a demand for your brand instead of addressing your audience’s current needs — including potential customers with low purchase or search intent.
From creating ads to figuring out your target audience, a successful insurance advertising campaign takes time, effort and determination, which can be difficult considering everything else that comes with running your insurance agency. Luckily, Melon Local can do all the hard work for you! Whether you need help with a search or display ad campaign, we’re all about growing high-quality leads into customers. See how we can help with your digital advertising needs by scheduling a demo with us today.