How do you promote car insurance online?
Milan Krklje?
Founder and CEO Of MXK Digital | Specialized Agency In The Insurance Space
You can't market every insurance policy the same way. There are different strategies you have to use if you want to get the best results possible.
Lucky for you, you will learn all of them using the strategies written below.
The greater the offer, the greater the outcome.
Well, depending on what you want people to do when they see your ad, you can make a few different offers.
Targeting individuals already insured, a compelling offer could be, "Switch and Save", where you will give a discount to people who decide to switch to you. By doing that, people who aren’t happy with their current insurance provider will be 100% interested in your offer. Even people who already have insurance might switch to you because of the discount. Looking at the current prices of car insurance, that is a real possibility.
Another offer that will sound interesting would be “Free Roadside Assistance” where you will give it as a free bonus to people who become your new customers. Their current provider probably doesn’t provide this as a free bonus, so if they don’t have any emotional connection with them, they will most likely come over to you.
One of the best offers is also “Accident Forgiveness”. In this offer, you would offer “forgiveness”. By forgiveness, I mean that if they have an accident, their rate won’t go up the first time that happens. That would tell people that they can make a mistake, and they won’t get penalized for that. If they had a bad experience before where they got their rate up by a large margin after their first accident, they will appreciate it for sure.
These are just the examples of the offers you can include, but if you have some specific offers that will make you different and that are valuable to your potential customers, you can include them, and you will succeed for sure.
A distinctive offer not only sets you apart from competitors, but also attracts more customers. Because if you give an offer that isn’t valuable, or that is blending with other offers, you will fail. But, having a unique offer will:
-Make you different
-Get more customers
Target with creatives.
There is a new trend where people use ad creatives to target people, and it’s actually working.
Yeah, it might sound crazy, but it’s true because of Facebook’s algorithm, which can analyze the imagery in your advertisements using AI, your ad content is matched with viewers who are most likely to find it engaging.
So, what does that even mean for you?
It signifies the importance of crafting compelling and visually captivating ad creatives. These are the ads that will grab the attention of your potential clients the moment they lay eyes on them.
Here are my top three recommendations for effective strategies that work.
Creative with a car crash. It's not about showcasing a severe accident, but rather a minor bump or scratch that sparks curiosity. By doing this, your potential clients will stop to see what is going on, and that is exactly what you're aiming for.
Another similar thing you can do would be to start with a video of a car crash. This strategy is even more powerful in drawing attention and increasing the visibility of your ad. But, you have to be careful using this because Facebook is really strict with what can be shown in their ads.
Lastly, my top pick involves creating a personalized video. While the details remain a closely guarded secret for our client-exclusive strategies, I decided to share this concept to inspire you to make something similar.
Simple, but effective. Doing this will help you even more to get more clients using online advertising.
Find the right people.
Ensuring your advertisements are viewed by those genuinely interested in what you offer is crucial.
There are a few key targeting parameters you will have to get right.
No matter what kind of ads you are running, certain age brackets will perform better than others. The situation is the same with car insurance.
The age group of 30 to 50 emerges as the most promising demographic, primarily because individuals in this bracket are more likely to own cars and consider insuring them. You should allocate the majority of your advertising budget to this demographic, though it’s important to remember that potential customers can also lie outside this range.
To lower your CPL, consider allocating a substantial portion of your budget to the male audience. Since a significant number of car owners are male, they’re more inclined to insure their vehicles, viewing them as valuable assets. This strategy does not suggest excluding women but rather prioritizing budget allocation based on potential interest levels.
Among various targeting options, focusing on interests can significantly benefit your campaign. Aiming your ads at people who have shown interest in cars on social media is easy if you know what you’re doing. Let me share a powerful tactic I’ve learned. This strategy not only increases the relevance of your ads but also increases the likelihood of attracting genuinely interested customers.
In summary, aim your campaign towards males aged 30 to 50 who have a pronounced interest in car content. However, while this approach sounds ideal, it’s not without its challenges. Setting your ads with these parameters alone won’t guarantee success. The truth is that you have to do a lot of testing and see what is working best for you.
Mastering the Art of Asking Questions to Unlock Better Answers
Experience in sales reveals that meaningful insights are uncovered not by surface-level inquiries but through deep, strategic questioning. This is crucially important in the insurance sector, where skillfully crafted questions are essential to engage potential prospects effectively.
This strategy is essential for both direct interactions and online policy marketing. Mastering the art of questioning involves both the selection of questions and the timing of their delivery. Random queries fall short; only a well-planned sequence guarantees the best possible outcomes.
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Though I have touched on this topic in earlier posts, a brief overview of the basics will not do any harm.
Questions fall into two categories:
1. Basic
2. Qualifying
Basic questions are foundational and aimed at collecting essential contact details from potential clients, such as their email, name, and phone number. In contrast, qualifying questions are tailored to align with specific policy needs. For instance, in car insurance, you might ask about the car's brand, model, and year of purchase, so you know what vehicle it is. Great questions would be about the monthly budget and driving record. However, do not ask too many qualifying questions, because it will be counterproductive. Aim for a balance, typically asking 2-4 of these questions for optimal outcomes.
By strategically employing this approach, we efficiently prequalify individuals, ensuring we engage with those who have a genuine interest.
Mastering the art of questioning is not just a skill but a gate to unlocking invaluable insights
You can do everything right, but if you mess this up, it's over.
When writing a copy for your ads, there is a framework you have to follow to succeed.
The first step is to know who your audience is. Knowing who your audience is helps you make an ad copy that will speak directly to them. This is a crucial part, and without it, you should not even start.
The framework we need to follow consists of 5 key stages:
1. Calling out
2. Mentioning problem
3. Giving solution
4. Offer
5. CTA
The first step is to call out your potential client. Now, you can do it in many different ways, like mentioning the city where they live, or mentioning something specific about each policy…
Consider starting with “Hey New York City”, or “New Yorkers You have to see this”. Such lines aim to grab attention, though their effectiveness may be limited due to overuse.
A more impactful approach would be if you mention a specific problem. A good example of what it should look like is “Are you looking for new car insurance”. It has a specific problem that will encourage people to click see more.
Merging the strengths of both methods maximizes engagement and minimizes the weaknesses of each when used separately. “Looking for car insurance, and you live in NYC? Well, you don’t have to look no more!”.
There is an even better option than these two, but the only way you can find out what it is is by working with us where we reveal all our secrets.
Now that we have our sentence that will catch attention, we need to make a problem and give a solution to it. When discussing car insurance, highlighting 2-4 significant challenges faced by those without coverage is ideal. The more critical the problem, the more compelling your solution needs to be.
Giving a solution is a simple step where you list the benefits that counter potential problems you wrote before. Better sounding the solution, better for you.
Now that people are engaged, you have to present your offer.
Better offer=Better results
I talked about offers previously, but implementing them is equally important to having a good offer. You can’t just write here’s 20% and expect people to opt in.
A clean and good-looking offer that will perform well would look like this: “If you want to get insured, we have something special for you. You will get a 20% discount if you decide to switch to us today, plus free road assistance!”
The last step is to make a great CTA that tells people what to do and creates FOMO. Here’s a perfect example: “Click “Get a Quote” and redeem your offer, but be quick because we have limited this to the first 20 people who want to get insured.”
A common mistake is relying on a single version, leading to disappointing performance. So, making a few versions and testing different copies is the key to success. If you follow this framework, your success is guaranteed.
So, after implementing these 5 steps, you are ready to promote your policies online. But, all of these steps can vary from platform to platform. And if you don't know what you are doing, it can cost you a lot.
We can help you with that, so you don't have to worry about it. You can learn more about what we do on our website where you will find how to get in contact with us.