What’s the most effective type of advertising for insurance?

Advertising for insurance: it can feel like a shot in the dark sometimes. But what if there was a type of advertising that offered more predictable returns?

You don’t need us to tell you that insurance is a supremely competitive industry.

Pricing dynamics can change quickly.
Profit margins are sometimes thin – especially when the aggregators take a huge cut of every one of your policies they sell.
It means any money you put into advertising has to work as hard as possible for your business in terms of conversion.
And that can make advertising for insurance a daunting prospect.So where’s the best place to start?

Skip to the bit where your ads are driving revenue

Just one quick thing before we start. We’re performance marketing specialists, and we price like it. Our fees are tied to the qualified leads we deliver, not a retainer for showing up. We win when you do. Here’s how we do it. And here’s the results we get for our clients.

“Adbetter reliably provide us with a steady stream of well qualified, high quality leads every month and our conversion rates have skyrocketed. We are a very happy client!”

– Ed Scott, Founder, Finlock Property Investment

What’s the best type of advertising for insurance?

Insurance is a numbers game. You set your premiums based on various categories of risk.

Then you aim for as much volume as possible and hope the margins work in your favour.

It’s the textbook commercial example of calculated risk.

So what if you could bring a little more of that analytical approach to advertising too?

Too often, advertising your insurance expertise feels like hit and hope.

You can pump your budget into email marketing, billboard advertising – even television and radio.

What those channels have in common is uncertainty. Until your campaign has run, who knows what results you can expect?

Thankfully there is a type of advertising that’s more accountable. More analytical. And more optimised for driving predictable results.

It’s called pay per click advertising (PPC).

Done properly, it’s possible to bring more certainty to your financial services lead generation and customer acquisition efforts.

And you can make some very healthy margins too.

Why is PPC the best type of advertising for insurance?

You know what pay per click advertising is.

The sponsored results at the top of Google’s search results.

The ads you see in your timeline on Instagram.

The content you see before you watch a video on YouTube.

All examples of pay per click advertising.

Here are seven reasons why it’s ideal for advertising insurance.

1. It’s accountable

As the name suggests, with pay per click you only pay when someone clicks your ad. Contrast that with other types of ad placement – such as a local billboard, magazine or television slot – where you pay regardless of whether people show an interest or not.

2. It’s easy to control your spend

Pay per click platforms give you lots of control over your ad spend. You get options to automate daily, weekly, monthly or maximum budgets per campaign. You can hit the pause button at any time. And you can expect every penny to be accounted for in your performance data.

3. Target the right audience

One of the most powerful things about pay per click advertising is the audience targeting control you get. You can tweak a vast array of different parameters to zero in on your target audience and find people who are likely to be in market.

4. Generate highly qualified leads

Remember: with pay per click, you only pay when someone clicks your ad. And if they’ve gone to the effort of clicking it, there’s a very good chance they’re interested in your policies.

5. It provides predictable returns

Set up correctly, you can be reasonably sure of the kind of returns your pay per click campaigns will generate for every £100 you put in. That allows you to make strategic marketing decisions with more confidence.

6. Optimise campaign performance over time

Pay per click platforms give you clear data on how your ads are performing. If you take the time to examine this data, you can identify trends that help you learn which campaigns are getting the best results. So you can improve campaign performance and optimise your ad spend over time.

7. Build first party customer data

With pay per click you have the opportunity to build your own first party customer data – enabling you to nurture your own relationship with every lead. In short: you acquire a marketable audience for all future campaigns – with the ability to reach out by email, SMS or targeted PPC campaigns depending on how your campaign is set up.

Comparison is the thief of joy…

Aggregators give you volume. They also take a massive cut of your premiums.

The aim is to encourage your policyholders that found you via an aggregator to buy their next policy from you directly in year two.

Pay per click advertising can help.

The fact that you have a policyholder’s email address means you can reach out to them on their social media platform of choice with reminders about your cover when their existing policies are coming up for renewal.

Those targeted, timely reminders can make a big difference.

It’s good. But it’s not a silver bullet.

Pay per click is a fantastic option for advertising insurance.

But it’s crucial to get your campaigns set up correctly. And there’s plenty of regulatory red tape to navigate.

Cost can be prohibitive for some businesses too.

But there’s no doubt there’s a compelling business case for PPC for those prepared to explore.

If you want ROI, read our intro article below.

>> PPC for insurance: 13 tips for getting big results

Skip to the part where you’re making money

We are an award-winning pay per click advertising agency. And we can craft compelling, compliant campaigns that drive reliable revenue for your business.

In fact we’re so confident in our ability to get results that we offer performance models, with fees tied to the qualified leads we deliver. We win when you do.

Sounds good?

Read about our unique approach to pay per click advertising.

Browse some case studies and see the transformative results we get for our clients.

Or just get in touch for a chat about what we can do for you.

Thanks for reading.

You may also be interested in:

>> Financial services lead generation: how we help financial brands win qualified leads

>> Where to find the best leads for life insurance businesses

>> Leads for health insurance: how to win big with pay per click

>> Facebook marketing for insurance agents: key elements of success