The world of digital marketing is a fast-moving one: new opportunities and techniques pop up each week, whilst Google, your number one arena for search engine marketing (SEM), changes at an even faster rate.
Effective use of digital marketing techniques can have a transformative effect on your insurance business, however; changing consumer perception of your brand and directly driving revenue from new policies. These following digital marketing tactics for your insurance company will help to dramatically increase your digital presence and exceed your business goals.
Education, education, education
The world of insurance can be a confusing, intimidating one for customers. Often, in the absence of real advice, price dictates – and the customer ends up with something that isn’t fit for purpose.
This complexity gives insurers an opportunity to develop a reputation as the experts in their field and the first point of contact when a customer needs the insurance that they provide. Investing heavily into “digestible” content will help customers make a better decision and likely make that decision in favour of your company, on account of the expertise you provided. By digestible, we mean content that breaks down the fear factor that comes with insurance and speaks to consumers on their level.
Your content can be multi-purpose, from articles to videos, infographics and more. The more versatile the format, the wider your reach will be.
Share your successes
Over the course of your time in the insurance industry you will naturally develop a group of customers who you’ve helped and they, in turn, can aid in your digital marketing efforts. These customers, who buy from you, re-purchase from your and endorse you, are your previous super-fans.
Share their stories on your website and across social media to highlight how your service was helpful, and encourage the featured clients to share the promotion of their story with their own networks. It’s highly likely that they will have friends and family with similar needs, whose business is just waiting to be unlocked.
Despite the ubiquity of social media, many insurance companies still see it as an afterthought in their digital marketing efforts. Platforms such as Facebook and Twitter, however, have the potential to drive real revenue and develop brand loyalty with your current policyholders.
Take the time to work with a social media specialist to create a structured social media plan, developed with your business goals in mind. It will drive interest, traffic and ultimately sales if implemented correctly.
Combining this with a well-thought-out paid strategy will put you on the perfect route for social media success.
Don’t let the cost of PPC scare you off
Pay-Per-Click (PPC) advertising most commonly seen at the top of search results on Google is typically at its most expensive in the insurance industry, something which can put insurers off using a potentially incredibly powerful marketing tactic. The expense, however, is offset by the fact that insurance is also typically one of the highest converting industries on Google AdWords.
Focusing on targeting the right keywords with the right adverts and perfecting your landing pages will ensure you benefit from this high conversion rate and keep your Cost Per Acquisition at a much lower level than you might initially think.
Clean your database
You may have a large database of current and previous customers which you use for your current marketing activities, but how much of it is accurate?
Having large amounts of inaccurate data serves to decrease the ROI of your campaigns and will also increase spam reports when used for email marketing. This could get you temporarily banned from using your email campaign software and flag your emails to service providers as low-value. This both interferes with your carefully-laid plans and ensures more of your emails go straight to junk folders and are never seen.
Keeping your database clean will both reduce the risks of those events occurring and also allow for better list segmentation, giving you the opportunity to target potential customers with messages specifically crafted for their situation.
Hand-in-hand with database cleanliness comes legitimacy. The General Data Protection Regulation (GDPR) will soon enforce all sales and marketing departments to have explicit consent to store and market to each individual on their database. Now is the perfect time to email all of your database, asking them for an explicit opt-in to future marketing. It may seem brutal, but if there is an opt-out or a non-response, those people must go. Besides making you compliant with forthcoming legislation, the exercise will ensure that your emails are received by those who genuinely want to read and take action from them.
One video can go a long way
An engaging video is arguably the most effective form of content marketing, with more than 45% of people watching more than an hour of video of Facebook and YouTube every week.
A video that explains some insurance concepts in simple terms could be shared across a wide range of platforms and promoted to reach millions of relevant users.
Once this initial promotional push is over, a video such as this can still continue having an impact, remaining discoverable on channels such as YouTube, which is also indexed on the Google search engine results pages (SERPs).
Harness the power of reviews
Word-of-mouth is still one of the most powerful forms of marketing, and reviews serve to play this role online. 88% of people say that they trust online reviews as much as a personal recommendation, demonstrating the impact that a large number of positive reviews can have on your conversion rate.
As well as playing a key role in converting prospects, reviews are highly valued – and indexed – by search engines, making you more visible to potential customers at the start of their enquiry and purchase cycle.
Encouraging your customers to leave reviews will therefore help to improve your rankings on search engines, ensuring more potential customers discover your insurance business when they’re searching online.
Let us help you
Here at RMS we’ve been helping insurance companies with their PR and digital marketing needs for decades, working with everyone from FTSE 250 businesses to start-up insurance brokers. Our expertise allows us to develop the perfect strategy to grow your insurance business online, no matter the size or sector.