What are the most effective advertising strategies for insurance brokers and agents?
If you’re in the insurance industry you know how tough it can be to stand out when most brands are investing millions in their advertising.
Fortunately for you the world of advertising is constantly evolving and that creates a lot of opportunity for those willing to take a bit of risk to find insurance advertising strategies that bring a positive ROI.
Today, we’ll go over some of the best insurance advertising platforms and we will also go over a few highly effective ads to give you some insight on what’s working now.
Advertising with Google is a remarkable way to increase awareness of your brand, bring in more leads and boost sales.
There are many ways to advertise with google. One of the most popular is search ads, but the display network is also a great way to advertise your insurance agency.
Google search ads
Google search ads are the most well known google advertising methods.
With google search ads you can place your ad above the organic search results whenever someone conducts a search.
The benefits of google search ads for insurance agents is that you can show up when someone is literally looking for insurance. This can help boost conversions since the user is in buying mode.
There’s a lot that goes into an effective google search ad campaign but at its core you need to do the following:
- Laser focused keyword targeting
- Optimize your ad to boost Ad Rank
- Design a strong landing page with one solid call to action
Google display ads
Google display ads are another type of google ad that is worth considering if you’re interested in advertising your insurance agency.
With google display ads you can feature your ad on over 10 million websites.
Think of this as a digital billboard.
You can place your ad in front of users as they read content online. The beauty of google ads is you can target them based on interest.
So if someone is reading about business insurance you can make a google display ad that will show a unique insurance ad for that reader.
If you’re considering the google display network and have an email list of old leads you can upload that list to advertise to them.
You just need to be sure that you are following the guidelines when you upload a custom audience.
Remarketing can be done on multiple platforms. Some of the most popular are Google Ads and Facebook.
Remarketing ads are served to users that have visited your website in the past. They can also be served to specific users that visited a certain page on your website.
Remarketing ads can be very effective at converting users into leads. This is because people may not convert the first time they visit your website, but after seeing your ad multiple times they may actually convert.
Remarketing ads are considered to be a display ad. If you choose to do remarketing advertising on Google these ads will be served through the google network mentioned above. Over 10 million websites are part of this network so you can basically guarantee users will see your ad.
When you do remarketing on Facebook the ads will be shown on Facebook or Instagram.
Advertising on YouTube isn’t only for those good at video editing or vlogs. You can have a professional video made for your business and promote it on YouTube.
As long as you have your conversion tracking setup you’ll be able to see what your cost per conversion is.
There’s a reason YouTube is one of the most popular social media advertising platforms.
Net advertising revenues have been steadily increasing year over year. A strong indication of ad spend being pumped into this platform.
If you’re considering YouTube ads you will likely want to promote a webinar of some sort.
Since everyone on YouTube is watching a video offering another video (with immense value) should lead to conversions.
The key is to actually offer content that is both valuable and relevant to the audience you are advertising to.
It should be no surprise that Facebook ads made the list of the top insurance marketing platforms.
With the organic reach of Facebook diminishing year over year advertising is really the only option you have if you want to market your insurance business on Facebook.
Advertising on Instagram may or may not be for you. 34% of Instagram users are between the ages of 25-34 while 31% are between 18-24 years old. If you’re interested in selling auto insurance the demographics on Instagram may work for you. On the other hand if you plan on selling business insurance, you may want to look elsewhere, like LinkedIn.
If you decide that Instagram is the right platform for you to advertise your insurance business, you will likely see very competitive CPC rates. Typically you can expect to pay between $0.50 to $1 per click. This is comparable to the Google Display Network. If you have a strong landing page and offer you can expect a 5% conversion rate.
As mentioned above, LinkedIn Advertising can be a great way to reach business owners. So if you plan on selling business insurance this can be a great platform.
Although, the average CPC on LinkedIn is much higher than other networks: $5.26. This can be worth it if you are selling higher ticket policies that provide a strong return.
You can also forecast your return by using typical conversion metrics. The average landing page will convert at 5% so multiply your average Cost Per Click by 25 so you can estimate your average Cost Per Acquisition.
With over 30 million companies on LinkedIn, this is the place to be if you want to reach decision makers. The interesting thing is that when someone comes to LinkedIn they are typically thinking about business, unlike other social media platforms.
Think about it, when you jump on Facebook or Instagram you’re thinking about what your friends or family are doing, not business. When you go to LinkedIn you’re thinking about connecting with professionals or checking in on your business colleagues.
This mindset shift might make each click more valuable, justifying the increased Cost Per Click.
At the end of the day when you’re advertising your insurance agency you’ll want to measure conversions to see what is the most effective.
Search Engine Optimization
Search Engine Optimization is technically not an insurance advertising strategy but it is worth considering if you want to increase the number of leads you bring in on a monthly basis.
If you’re not aware of how SEO works we can quickly explain. Basically, when you search online (through Google or Bing) you get 10 results. When SEO is done right your business will show up higher up on those results. The key with SEO is to target the right keywords.
The reason why SEO is so important is because you catch someone when they are actually looking for insurance services.
The value of SEO can add up exponentially over time. As you acquire more keywords and get more traffic you will see more and more leads.
If you’re interested in long term, sustainable business growth, you may want to consider investing in insurance SEO services.
Create Content On YouTube
Similar to SEO, creating content on YouTube is not an insurance advertising strategy, it is a content marketing strategy, one worth considering.
Just like other social platforms, producing content on a regular basis can lead to increased brand awareness.
Best of all producing content on YouTube to advertise your insurance agency is free. It can also help you stay top of mind if someone was thinking about switching insurance but hasn’t gotten around to it.
Creative Insurance Advertising Ideas
Aside from traditional insurance advertising there are also some creative things you can do to advertise your insurance business. Here’s a few:
Make a PDF With All The Services You Offer
When you get a client in your office they may not know what you offer. You can clear up this confusion by simply providing them with a PDF sheet that includes all of the insurance products you offer.
This can also help open the conversation about other insurance policies and provide the opportunity for cross sells.
Launch a Webinar
Launching a webinar can be a great source of leads if done right. If you already have an audience on social media or an email list you can simply promote the webinar there.
Oftentimes by providing value without expecting anything in return will create a demand for your services. Focus on providing value rather than selling your services when creating these webinars.
Connect with Professionals on LinkedIn
Connecting with professionals on LinkedIn is also an amazing opportunity to advertise your insurance business. This will bring attention to your business profile and help you make an impression on your target audience. The beauty is that you can target your prospects of choice. So if you want to sell a certain type of insurance policy simple lookup your target audience and connect with them.
Well there you have it, the best insurance advertising strategies all in one list. If there’s any I missed please be sure to comment below.