Insurance Marketing: Reengage Website Visitors as They Make Insurance Purchasing Decisions

By Mspark Marketing Team Mar 15, 22

 

Consumer preference for shopping online for insurance has grown in the last decade, from 17% of consumers in 2011 to 29% in 2020. Interest in online buying is highest among Generation X. How can insurance marketers position their brands to engage and acquire online shoppers?

Getting prospects to your website is one thing; converting them requires an intentional, targeted strategy that minimizes waste and reduces cost per acquisition.

Did you know?

  • American brands spend $200B annually on digital advertising to drive website traffic, yet 90% of that site traffic remains unknown, according to Zenith Media reports.
  • Even more confounding is the 98% of website traffic that leaves without making a purchase, filling out a form or signing up.

How can you turn your website browsers into clients and generate 10-30x more response?

Research shows that integrated solutions are more effective in driving consumer action. By applying digital and direct mail, companies have seen conversion rates lift as much as 28%.

  • Average household response rates for direct mail are 5.1%, much higher than digital only channels:
    • Paid search, 0.6%
    • Email, 0.6%
    • Online display ads, 0.2%
    • Social media, 0.4%
  • Brand Recall is stronger with direct mail: 75% for recipients of direct mail vs. 44% for recipients of digital-only ads
  • Those Gen-Xers mentioned above who want to buy online? They respond to print; in fact, 53% of Generation X surveyed have responded to ads or offers in the mail in the past 12 months. 
  • When ads are personalized to the consumer’s needs and interest, acquisition costs are reduced as much as 50%, while revenues increase 5-15%.

For more information about how insurance shoppers respond to ads across multiple channels, read our previous blog post Read our case studies below to learn how other insurance providers have benefitted by reaching website visitors with personalized direct mail that drives acquisition and reduces cost per acquisition per policy holder. Reach out today to plan your strategy!

Sources: SpendMeNot.com, Navistone, the DMA, Compu-mail.com, Canada Post Study; AdMall AudienceSCAN 2021

 

Insurance Retargeting Success Stories

Life Insurance Company Uses Print to Retarget with 70% Savings to Goal

LIFE INSURANCE: SITE RETARGETING + PRINT

Client Challenge

  • A life insurance company needed a cost-effective way to convert policy browsers into policy holders for three different types of insurance offerings.
  • Client Success Metric: Cost per policy holder

Our Approach

  • Site Retargeted Postcards were used to model policy browsers in
    order to target those with the highest likelihood of converting. Interested browsers were sent a timely and relevant direct mail postcard, which proved to be a successful strategy.
  • Key Takeaways: 
    • Identifying top web visitors and sending additional touchpoints offline increases consumers response rates
    • Print, when implemented correctly, drives strong online conversions

The Results

$120

Cost per Policy Holder

70%

Savings

$130

Cost per Policy Holder Range Across Product Portfolio

Personalized Print Achieves 40% CPA Savings

LIFE INSURANCE: SITE RETARGETING + PRINT

Client Challenge

  • This life insurance company wanted to drive acquisition among website visitors and reduce CPA per policy holder by using direct mail for prospecting.
  • Client Success Metrics: CPA $500 benchmark

Our Approach

  • Personalize Postcards: Sent customized postcards to site browsers who showed intent within 24 hours of their site visit versus the 60+ day delivery window previously seen.
  • Audiences were created, modelled, segmented and sent personalized direct mail after visiting the website through
  • Key Takeaway: 
    • Identifying top web visitors and sending postcard follow up drove client acquisition and significantly improved CPA costs

The Results

40%

savings in CPA

$200

CPA cost savings