The No. 1 way to combat competitors from siphoning off your customers is to adapt. Here are three ways Google Ads could be the missing link in your marketing strategy.
In the digital age, many insurance agencies are left wondering how their businesses will be affected by the rapidly changing marketplace. Every day, it seems like a new competitor appears, looking to steal your meal ticket and siphon your customers away.
The No. 1 way to combat competitors from siphoning off your customers is to adapt. Here are three ways Google Ads could be the missing link in your marketing strategy:
1) Takes your business directly to the market. When a consumer needs to buy a new insurance policy for their boat, home or new contracting business, where are they most likely going to go?
If you answered “Google” then you are correct. In 2016, approximately 74% of consumers turned to the internet before buying an insurance policy, according to J.D. Power.
When prospects begin their quest for a policy, it will start with a search for insurance on Google and likely end on the first page of results. If you want to attract online prospects in your local area who are ready to buy, your best bet is to go direct—you’ve got to advertise with Google.
Inbound leads generated from Google are high-quality because they demonstrate the intention to make a purchase. How do we know that? Because your advertisements only appear after people have searched for terms based on buying insurance.
Unlike other marketing channels, prospects acquired through Google engage. You know without a shadow of a doubt that they are ready and looking to buy insurance in the near future.
2) Improves sales productivity. When you advertise on Google, you are employing Google’s algorithm as a salesperson to prospect for ready-to-buy leads.
Essentially, you just brought on a team of agents who will scour the web and reach searchers across your service areas. These agents aren’t restricted by time and geographic locations, and they’ll never get tired or call in sick.
With Google Ads campaigns, you can prospect for new buyers all day, every day—a feat even the greatest producers cannot replicate.
3) Accurately reports and attributes. One of the biggest problems for every agency is marketing attribution. In other words, which marketing investments are driving the biggest results.
A well-known marketing saying sums it up: “Half the money I spend on marketing is wasted. The trouble is, I don’t know which half.”
With Google Ads—and digital ads in general—you get unmatched transparency in reporting efficacy. You’ll have a clear idea of how much you invested, how many quotes it sent your way and how many quotes turned into new customers.
You’ll be able to form fact-based strategies around expanding and contracting your marketing investments. And, based on the robust data these platforms provide, you’ll know exactly which half or your marketing spend you wasted!
Want to become the first-choice agency for insurance in your local market? You’ve got to go where your prospects have gone: online. With Google Ads, you can attract prospects on autopilot and expand the reach of your agency statewide or even nationally.
Cam Bob III is founder of Infinity Leads, a customer acquisition agency for independent insurance agencies. In 2018, Bob III was named Young Innovator of the Year by British private equity firm CVC Capital in the development of a cutting-edge digital lead generation system for insurance agencies. Bob III is also the author of “The Digital Insurance Agent,” a step-by-step guide to generating exclusive leads online.