Whether you’re a new agent hoping to gain new customers or an established agent looking to grow your agency, you can benefit from online insurance advertising. This popular strategy is a favorite amongst digital marketers, including Melon Local! Call us nerds, but data is kind of our thing. Digital advertising makes It easier to target your ideal audience, track the success of your campaigns, and… well, let’s just jump into the top three reasons we love insurance advertising!
1. Reach your target audience (and only your target audience).
Showing your advertisements to the wrong people is like trying to sell a fur coat to a bear… it’s a waste of time! Insurance advertising enables you to adjust your ads so they are shown to a specific audience based on parameters you, as the advertiser, set. Through platforms like Google Ads, you can limit who sees your advertisement by targeting relevant keywords and demographics like age, gender, or location.
So, why is this important? Most digital advertisements follow the pay-per-click method. This is exactly what it sounds like. The advertiser pays a fee to a web host each time someone clicks on their ad. Let’s say you forget to adjust the settings based on location. This could cause your ads to be shown to people outside of your service area. Meanwhile, you’re still racking up the price of their clicks despite their ineligibility to become customers! By using targeted ads, you better your chances at reaching the right customers at the right time.
2. Easily measure the success of your campaigns.
Another awesome benefit to insurance advertising is that it’s relatively easy to track and measure the performance of your campaigns. Advertising platforms have this capability built in. When you set up an ad campaign, the platform automatically gathers data about its performance. Then, it’s up to you, as the advertiser, to go into the system and view relevant metrics, such as the number of clicks and cost-per-click (or CPC).
Now, while it’s easy to get this data, deciphering it takes a little practice. To determine whether or not your campaign is successful, you first need to set attainable goals. For example, maybe you’re hoping to earn an 8% click-through rate with a 5% conversion rate for the upcoming month. This would mean that for every 100 people who were exposed to your ad, 8 of those people clicked on it and 5 became customers. If you hit this goal, consider setting your sights even higher for the following month. If you fail to hit your goal, you should reevaluate your campaign to figure out how to more accurately target your ideal audience.
3. See results quickly.
In comparison to many other digital marketing strategies, insurance advertising tends to yield results more quickly. This occurs for a few reasons. First, proper targeting enables you to get your ads in front of the right people. Second, your ad can appear the day it goes live; no waiting period. Third, since it’s so easy to track the performance of your ad, you’ll have data on the results quickly.
Now keep in mind, this doesn’t necessarily make insurance advertising better than other insurance marketing strategies. We love PPC, but we love SEO as well. Most digital marketing strategies are best used in tandem with other methods.
Implementing Insurance Advertising
When implementing insurance advertising at your agency, we encourage you to first set goals and determine your budget. You’ll also want to identify your target audience and do keyword research to find out how they’re searching for insurance agencies like yours. Don’t have the time or resources to manage your insurance advertising campaigns on your own? Contact Melon Local to learn how we can help grow your agency.