Does Your Insurance Marketing Strategy Effectively Target the Nearly One-Third of Americans Who will Switch Providers this Year? 

When it comes to buying insurance, many consumers purchased insurance or changed providers due to the pandemic. A 2020 survey found that 1 in 4 people purchased life insurance for the first time because of COVID-19 concerns.  

The pandemic and the economic uncertainty that came with it also caused many consumers to become more cost-conscious. At the end of 2020, 41% of auto insurance customers were shopping for alternatives, the highest rate ever seen. Of consumers shopping for property and auto insurance, 38% of those surveyed listed price as the most important factor in choosing an insurance provider.  

Currently, nearly one-third of U.S. adults plan to shop for and switch insurance providers in the next 12 months:  

  • 28% plan to switch auto insurance providers 
  • 16% plan to switch homeowners’ insurance providers 
  • 13% plan to switch life insurance providers 

Does your marketing strategy target these potential insurance switchers effectively? A multi-channel marketing strategy is proven to retain existing as well as acquire new customers. 

Consumers Shopping for Insurance or Looking to Switch Insurance Providers Respond to Ads Across a Variety of Channels 

  • In the past 12 months, 77% of potential life insurance switchers responded to ads/coupons in the mailbox; 80% responded to a streaming TV ad; 76% responded to an internet banner ad; and 75% responded to a pre-roll video ad. 
  • In the past 12 months, 67% of potential auto insurance switchers responded to an ad/coupon in mailbox; 62% responded to an internet banner ad; 65% responded to a streaming TV ad; and 62% responded to a pre-roll video ad. 
  • In the past 12 months, 75% of potential home insurance switchers responded to an ad/coupon in mailbox; 66% responded to an internet banner ad; 67% responded to a streaming TV ad; and 63% responded to a pre-roll video ad. 

We partner with insurance providers across the country to develop innovative, multi-channel advertising solutions that increase reach and response to drive results and maximize your advertising spend. We help you achieve these goals through a combination of print solutions, trigger-based marketing programs, as well as digital and video advertising solutions.  

Why do we recommend a multi-channel approach vs. allocating all your advertising dollars to a single channel? Because the data shows us that a multi-channel strategy produces results. 

  • Our integrated advertising solutions work synergistically to lift response rates as much as 118% and conversion rates by as much as 28%. 
  • Print drives 11% purchase intent compared to only 4% with digital alone. That’s a 175% INCREASE when anchoring your digital campaign with print. 
  • Response rates increase by 30% when direct mail is paired with digital targeting..
  • 60% of consumers are more likely to make a purchase after seeing an ad offline and online. 
  • 69% of purchase influence is driven by print and digital media.   

When you partner with Mspark to achieve your marketing goals, you can be confident your advertising campaigns will be supported by data analytics that identify your best customers, where they live, what they like, and where you can find prospects that most resemble your customers. Data is then used to shape messages that will resonate with your target audience. 

Important Information to Communicate to Insurance Policy Shoppers 

  • Shoppers are comparing prices, so communicate pricing while demonstrating the value you provide, including any opportunities to bundle services and save. 
  • Large insurers continue to take share from mid- and small-size carriers. Defend and expand your market share with a competitive blunting strategy that keeps your brand top-of-mind as consumers are making purchasing decisions.  

Read our insurance case studies to see how other providers have benefitted from leveraging our solutions. Reach out today to plan your strategy! 

Sources:; J.D. Power; AdMall Reports; Prosper Insights & Analytics; Millward Brown Print Campaign Analysis; Simplifi; ANA/DMA Response Rate Report; Edgar Online; IPC Cross-Border E-Commerce Shopper Survey 2019; Valassis Purse String Survey; Data & Marketing Association