Most insurance agencies are not aware of new capabilities that Google has added around targeting affluent users, and users who are currently in the process of making a buying decision. With Google Search, Youtube, and Google’s Display Network becoming increasingly prominent, independent insurance firms who ignore these channels are missing a huge opportunity. Google Ads provides an enormous array of options for advertisers that can be overwhelming. At Vizala Digital, we cut-thru the extraneous details and layout a strategy that insurance firms can use to grow their businesses with Google Ads. Some of the key themes include....
• Ads are exclusively shown to “In-Market” audiences. This includes users whose online behavior (searches and sites visited) indicates that they are currently looking for an insurance agency or policy.
• Other targeting options are layered on top including location, age/income demographics, and retargeting
• Tracking and various controls are used to continuously optimize campaigns, allocate spend, and hit budget targets
These tactics along with other optimizations, we can help insurance agents incorporate Google Ads as a cost effective channel for generating leads and new business.
High Intent Google Searches
Since you are only charged for clicks, you want to avoid appearing for searches that are not likely to be prospects. We do this by only appearing for high intent searches. This includes searches where the prospect appears to currently be in the market for an insurance agency or policy. Searches like “insurance agency near me,” “car insurance quotes” and “home insurance policy search” all indicate that the searcher is likely to be in the market.
By contrast, we would avoid appearing for topics that are overly broad like “car insurance” or “insurance policy.” We would also avoid topics where the searcher is probably just doing research and is not necessarily looking to hire an agency. “Affordable Care Act” and “tax credits” are examples.
High Intent Display Ads
With Display Advertising, we have access to most well-known business and financial websites, apps, and Youtube Channels. We never target entire websites but instead target specific articles and sections of websites. The goal is to replicate the intent that you have with Search ads. In this example, the article “How to Choose an Insurance Company” is likely to be read by a person who is in-market.
Here is an example on a mobile phone...
Precision Location Targeting & Affluent Targeting
The following table is an example of how location targeting can be used in Google Ads to maximize ROI. In most cases, it makes sense for local insurance agencies to limit their ads to within 15-50 miles of their office, and for keyword bids to be higher for searchers who are closer to the office. Additionally, for some businesses you will also want to have higher bids in zip codes with a lot of high income residents. In the last column “Example Keyword Bid,” both location and IRS data has been used to adjust each keyword bid up or down. Likewise, every keyword should have its bid adjusted based on the zip code.
Instead of just drawing a circle around your office, you can get better results if you specifically target the locations where your clients are most likely to come from.
Affluent Neighborhood Targeting
In addition to zip code targeting, we can target much more specific locations. This can include company headquarters, office parks, universities, medical centers, and affluent neighborhoods.
Google Ads and Google Analytics Expert
Gregg Kellett has more than 20 years of experience in digital marketing and 18+ years of experience with Google Ads and Google Analytics. This includes 10+ years working for Bloomberg and 4 years for MarketResearch.com where he managed multimillion-dollar advertising budgets for both companies. He holds current Google certifications for Google Search Ads, Google Display Ads, and Google Analytics. In addition to spending the bulk of his career in the investing/finance space, as a hobby he is a Warren Buffett disciple who has been making his own stock picks and following the financial markets for more than decade.
Example Insurance Clients