Benefits of PPC Advertising for Insurance Brokers
The insurance industry, in and of itself, is extremely competitive. The changing consumer behavior has made sure that it becomes even more so. If you thought that bringing in new clients was difficult a few years ago, today is much harder. That is, if you fail to adapt to the changing times.
Consumers now go online and resort to search engines when looking for a product or a service. It is the first step in the journey that most buyers today go through. While this development has made easier the consumer’s decision-making process when addressing a specific need, it has shifted the business landscape.
It is no different in the insurance industry. Old marketing techniques like traditional ads, emails, cold calls, and even referrals are no longer enough to convince potential clients. While positive client reviews, favorable online ratings, and an optimized website will help boost your online presence, it is part of a longer marketing process with the long term business goal in mind. If you are getting left behind in the meantime and need more immediate results, then you need a customized PPC strategy for your insurance brokerage.
What is PPC for Insurance Brokerages?
Before getting into the benefits of PPC advertising, it is important to understand what it truly is. PPC, or pay-per-click is an online marketing strategy that generates targeted traffic quickly by using paid ads in search engines like Google. These ads are based on relevant keywords that generate the highest search volume in the insurance industry.
Google, Bing, or whatever search engine your potential customer uses offers to place these ads based on your bid for certain keywords in the insurance industry. In essence, it means that your ad will show up along with the search engine results pages or SERPs that are displayed when users type in their search queries.
Why is this important?
Most, if not all users, do not have the patience to wade through thousands of search results pages to find what they need, even if that need is very compelling. More often than not, they would want to make a decision based on the first few SERPs.
Having a quality advertisement in the first few SERPs that can offer value to a highly targeted audience will give you more opportunities to generate extremely relevant leads. And when a lead that is highly motivated to make a purchase visits your website, you have a better chance of converting that lead into a paying customer.
Apart from optimizing your landing pages, a PPC campaign is one of the most potent tools in your marketing strategy. Google Ads for Insurance Brokers can help you reach your business goals sooner and in many different ways.
What are the benefits of PPC for insurance brokerages?
Develop a Highly Focused Marketing Campaign
While it is true that PPC might generate less traffic to your website than an SEO strategy, the lead that it generates is often of very high quality.
When potential customers look for information about an insurance product, they go online and use search engines. With a predisposition to make a purchase or at least look for information, a well-placed and informative ad could mean the difference between a lost opportunity and a user seeing the marketing funnel through from start to finish.
What makes Insurance PPC even more effective is that it will be displayed when potential customers are looking for a particular product or service that you are offering. With more relevance to the need of the users, you are more likely to influence them into profitable action.
Increased Local Visibility
One challenge for any marketing strategy is how to focus your efforts on areas or regions that put your brand in the best position to succeed. However, it must be done if you want the most return on your investment.
A local PPC campaign can be customized to serve a specific state, county, town, or any area and help focus your marketing resources better. With this geo-targeting capability, you can ensure that your ad is available for viewing to your target customers, which are usually people in your area in need of insurance products.
Helps You Focus on a Specific Group of Potential Customers
Aside from the ability to concentrate on certain areas, PPC for Insurance Brokerages can be tailor-made to focus more on targets that are better suited for your products and services. Case in point, a 20-year old professional who just started earning would be less likely to purchase life insurance. In a similar manner, a very rich businessman would have no interest in a policy worth $10,000.
With PPC ads, you can include the household income in your targeting criteria, allowing you to exclude segments that are below or above your target customers. With a more granular approach, you can ensure that you pay only for ads to reach potential customers of a certain client profile.
Another way to focus your marketing resources is by targeting an audience of a specific age range. Depending on the nature of your products, you will find more success by narrowing down your options to a certain demographic. Creating PPC ads that appeal to your target audience would also increase your chances of generating quality leads and, ultimately, more sales profits.
Google ads even allow you to retarget existing traffic on your website. By doing this you can create multiple touchpoints to assist in nurturing potential leads into converting after they have already left your site. PPC retargeting is often much less costly per click than conventional search campaigns and as a result, cost-per-conversion is often drastically lower.
Helps Achieve Various Business Goals
Whether you want to achieve a high level of exposure for your business, generate more leads, or achieve thought leadership, PPC advertising is a powerful tool you can use to make it happen.
In an era where content marketing and thought leadership is the main driving force behind business success, you can use Insurance PPC ads to promote content downloads, contest entries, newsletter signups, or app downloads – an effective compromise in nurturing a potential client through the middle portion of the marketing funnel.
If you are looking for a quick entry into the insurance industry, PPC ads offer a great opportunity. You can have a running marketing campaign right away, even if you are decades behind other competitors. Google Ads can put your brand and your products in front of your target customers within minutes of being launched. What is more, it prevents the redundancy of your marketing efforts by allowing you to reach people outside of your existing customer list, which is more effective in increasing your brand awareness.
Give You More Marketing Flexibility
Whether you want to be restrictive or inclusive with your target keywords or ad placements, the decision is entirely up to you. This means that you have the flexibility to put in as little or as much of your marketing resources, which would ultimately depend on your existing budget and your marketing goals.
If you are new to the PPC strategy and want to start small, you can set your own budget and bid accordingly. From there, you can decide how much more you are willing to put in based on the result generated by your initial effort. If you want to, you can scale it up immediately without worrying about any downtime in your marketing activities. If you do not like what you are seeing, you can pause your ad or stop it altogether. No other marketing strategy can offer you this amount of flexibility to match your changing and evolving business goals.
Insurance PPC Works Well with Other Marketing Strategies
While you can advertise your products and services directly using PPC ads, it can also be customized to bring more attention to your content marketing efforts. It is true that your content can generate lead by itself, but creating ads that promote them will establish your thought leadership positioning much faster. This means more traffic is directed to your website and more leads are generated. At the end of the day, this means you get more return on your marketing investment.
PPC and SEO work well together because they are basically driven by similar forces: a highly targeted audience using search engines to find products, services, or information. PPC can also be compared to traditional marketing strategies, such as emails, when it comes to costs per impression and subsequent conversion.
It Allows Access to Essential Marketing Data
With search engines like Google, a lot of information can be gathered about their ads. This gives an important insight into how the ads are doing and how best to proceed to achieve your marketing goals. Aside from this, the information available proves to be of more value. For instance, the impression, click, and conversion data for the keywords used in the ads can be used as a guide for improving your SEO strategy and other content marketing activities. In addition, you can use the built-in tools in search engines like the keyword planner or display planned to give you a better idea of where to find more of your target audience.
PPC ads can offer immediate and first-page visibility in the keyword that you chose strategically. If executed well, you can start seeing the results within minutes of being launched. This is one of the biggest differences between PPC ads and SEO. It would take months or even years to generate enough organic traffic to your web pages that would make it rank high enough to land in the first few SERPs. What is more, search algorithms constantly improve, which means that you have to update your SEO viability from time to time.
Final Thoughts on PPC Advertising
If you are still not convinced of the value of PPC ads, try looking at the costs involved in your other marketing strategies and compare it to the cost of Insurance PPC advertising. You can weigh it against the amount of lead that each component generates the conversion rate that it brings. More likely than not, you will find that PPC advertising is one of the more cost-efficient methods of increasing your brand awareness and closing more clients. Aside from its cost-efficiency, it also involves less risk as you can test the waters first before committing more of your marketing budget.
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