By Michael Foster
If you want to generate good leads for auto insurance sales, you need to think on your feet.
Auto insurance is a tricky vertical, where supply sources have rapidly shrunk, and lead quality has become harder than ever to assess. At the same time, the different conversion tactics demanded by the insurance vertical makes things even harder. Mobile conversions on auto insurance don’t happen the same way they do for selling consumer electronics or T-shirts.
This reality is well-known to insurance marketers, but many struggle to find a real solution.
Fortunately, these solutions do exist. Buyers are becoming more acutely aware of the need to apply analytics and careful vetting of leads to improve performance. They also realize that they need to find new ways to optimize their marketing investments in the newly consolidated market.
Then there’s the issue of platforms. Click conversions and click-to-call campaigns are new challenges for auto insurance. Similarly, new opportunities are just on the horizon. The explosion of vocal search with Google Home and Amazon’s Alexa are entirely untapped fields ripe for exploration. Yet traditionally search has been an extremely expensive and difficult channel for insurance marketers to get right.
At the same time, other channels have offered new opportunities and challenges. Insurance isn’t the most social product in the world, yet social media has proven to be a great and powerful tool for generating many good leads at low cost. The power of deep data that many social networks have has also made discovering new clients easier than ever – but greater competition has also driven the power of social media campaigns down while driving prices up throughout the supply chain.
Fortunately, more opportunities and new channels will likely yield more opportunities to drive campaign performance up, and visionaries who plan for these changes today will reap the benefits tomorrow.
Join us at this year’s LeadsCon where we dig deep into the problems and challenges that are unique to the automotive insurance vertical and how top marketers are grappling with these problems and finding solutions. Peter Shea of InsuraMatch and Michael Foster of MediaAlpha will lead a discussion of how publishers can thrive in a less competitive market, how advertisers can gain new insights into their lead inventories, and how both can work together to optimize marketing efforts from the buy side and sell side.
Click here to register for LeadsCon Las Vegas 2017.