Although many auto insurance providers are part of a national network, even the largest insurance companies certify local individuals as insurance salespeople. This means there are countless independent sales representatives, small firms, and medium-sized businesses selling auto insurance policies in a given region. This also means there are a lot of insurance providers competing for the same target group of consumers. Ring Partner wants our clients to understand how best to capitalize on Pay Per Call in any industry. As such, here's a handful of vital reasons you should use Pay Per Call for your auto insurance business.
Bridge the Online-Offline Divide
American consumers, as well as their counterparts around the globe, are increasingly reliant upon online research during the purchasing process. The insurance industry, and auto insurers in particular, are not immune to this trend. A JD Power analysis of the industry in 2016 showed just how critical a solid bridge between online research and offline sales is to clients. According to the data collected by JD Power, 74% of consumers research policy information and obtain quotes through an auto insurance online site or aggregator site.
However, while nearly three-quarters of consumers research and compare online, only 25% of them actually buy a new auto policy online. 50% of consumers buy their new policy through direct contact with an agent on the phone. An additional 22% buy a policy through the call center of a larger firm. Pay Per Call and click-to-call features help your auto insurance business bridge that divide between online research and offline purchasing by offering a seamless transition from one action to the next.
Adapt to Changing Moods
Millennials are impacting the world in profound ways. Most notably, their purchasing decisions are much different than the Baby Boomers and Generation Xers that came before them. Only 24% of Millennials are using local insurance agencies. The remainder typically buy policies online. This trend is a matter of convenience for a generation that grew up in a digital world with on-demand results.
Pay Per Call can deliver those warm leads to an auto insurance provider. You can target specific categories of buyers and narrow the target group down further using geographic boundaries. In this way, your ads appear only for certain demographics and individuals in particular geographic areas. As a result, Pay Per Call enables your business to more effectively utilize its marketing budget by paying for ads that appear before relevant online shoppers with a higher likelihood to call in and convert on a new policy.
Target Consumers Who are Ready to Buy
In digital marketing, timing is everything. Pay Per Call is not immune to the effects of timing, but it is ideally positioned to help your firm take advantage. Other digital marketing efforts (social media, SEM, email) target consumers and generate clicks or website visits. However, they don't target consumers at key points in the purchasing cycle like Pay Per Call can. You can deploy your marketing budget more effectively by setting the parameters for campaign sources, ads, and timing of ads that are proven to deliver high-quality leads. These customers click and call because they've seen an ad when they're ready to buy. This way you pay only for the calls you want that meet present requirements.
Pay Per Call is an ideal marketing tool for any business. In the auto insurance industry, where there is a lot of competition, it can help you stand out online. You'll be able to reach customers with relevant ads while staying within your budget and increasing the ROI on your marketing spend. All you need to do is determine what types of calls are most valuable, and optimize your campaign to generate those warm leads.