4 Ways Insurance Brands Build Top-of-Mind Awareness [Study]

Cross-chan­nel, dis­play, and the ‘human touch’ make the cru­cial dif­fer­ence.

Pat Hong By Pat Hong from Linkdex. Join the discussion » 0 comments

Insur­ance is a huge­ly com­pet­i­tive mar­ket in the US. With cus­tomers look­ing to seek out the best deal and poten­tial­ly switch providers, it’s imper­a­tive that insur­ance brands main­tain top of mind aware­ness to build loy­al­ty and per­form well. How can brands com­plete and main­tain a pres­ence at the top?

Pro­gram­mat­ic media-buy­ing plat­form Rock­et Fuel has released a detailed new study into brand aware­ness for U.S. insur­ers. Insur­ance has always been one of the most fierce­ly con­test­ed online ver­ti­cals, and the study pro­vides cut­ting-edge insights on con­sumer behav­ior, mar­ket­ing strat­e­gy and bud­gets, and data-dri­ven con­ver­sion rate opti­miza­tions – in many cas­es, these can apply to many oth­er mar­kets and ver­ti­cals.

One of the most reveal­ing insights of the study was in con­firm­ing just how valu­able cross-chan­nel ad spend­ing is to insur­ance providers, with dis­play ad spend being nine times more effec­tive at dri­ving top-of-mind aware­ness than TV.

Here’s a run­down of the top take­aways.

Top Takeaways for Building Top-of-Mind Awareness

1. Increase Cross-Channel Advertising Efforts

Increas­ing cross-chan­nel ad spend­ing to dri­ve top-of-mind aware­ness is par­tic­u­lar­ly cru­cial for insur­ance brands, with 1 in 10 of all sur­veyed respon­dents say­ing they would ‘def­i­nite­ly’ or ‘prob­a­bly’ switch auto-insur­er with­in the next six months. Par­tic­u­lar­ly in auto-insur­ance where tra­di­tion­al brands — like State Farm and All­state — have an advan­tage with their estab­lished cus­tomer base amongst old­er adults, who in turn rec­om­mend their insur­ers to their chil­dren, win­ning top-of-mind aware­ness is an inte­gral part of insur­er pur­chase fun­nels.


As the graph above illus­trates, direct insur­ers like Geico and Pro­gres­sive have adver­tised heav­i­ly to break this cycle. Com­bined with the self-direct pref­er­ences of younger con­sumers, hav­ing a strong cross-chan­nel pres­ence can enable direct insur­ers to cap­ture more mar­ket share over time.

2. Increase Digital Spend, Particularly Display

For every $1 mil­lion an auto-insur­ance provider spends in dig­i­tal or dis­play adver­tis­ing, that brand is like­ly to see a lift in top-of-mind aware­ness of 0.18 per­cent, the study revealed. Com­par­a­tive­ly, the same spend in TV yields a lift in top-of-mind aware­ness of 0.02 per­cent, due to like­ly over-sat­u­ra­tion of the chan­nel.

Auto and life insur­ers can gen­er­ate addi­tion­al effi­cien­cy from their mar­ket­ing ini­tia­tives by shift­ing bud­get from over­crowd­ed TV chan­nels into dig­i­tal, par­tic­u­lar­ly dig­i­tal dis­play.

3. Add A Human Face To Display Advertising To Maximize Conversions

A gem of insight revealed by the report is that dis­play ads fea­tur­ing peo­ple (and human faces) result­ed in aver­age con­ver­sion rates 177 per­cent high­er than those that did not. Ani­mat­ed ads and ads with blue or red back­grounds have high­er click-through rates, but images of peo­ple had the most ben­e­fi­cial affect on con­ver­sion rates.

4. Implement Closed Loop Measurement For Marketing Initiatives

The report also high­lights the impor­tance of closed loop mea­sure­ment. Accord­ing to Rock­et­fu­el “auto insur­ance adver­tis­ers should also con­sid­er closed-loop mea­sure­ment and opti­miza­tion solu­tions for their mar­ket­ing ini­tia­tives to obtain a com­plete view of the impact of dig­i­tal mar­ket­ing spend on appli­ca­tion rates for insur­ance poli­cies.”

You can down­load the full report from Rock­et­fu­el.

This arti­cle first appeared on the Linkdex blog.

Do you imple­ment sim­i­lar tech­niques in your mar­ket­ing?

Pat Hong

Written by Pat Hong

Editor at Linkdex/Inked, Linkdex

Pat covers the SEO industry, digital marketing trends, and anything and everything around Linkdex. He also authors Linkdex's data analysis and reports, analysing the state of search in various industries.

Inked is published by Linkdex, the SEO platform of choice for professional marketers.

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