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Insurance vertical insightsLandscape, key trends and recommendations
Executive summary
Insurancevertical analysis
Bing Advertisers focused on the insurance vertical have
seen approximately 2x growth (%YoY) in engagement in the
past year. This report provides insight into how insurance
customers are engaging, what is driving these trends &
how you can maximise your opportunity.
Agenda
Insurance landscape
Overall of insurance
Key targeting attributes
Competitive landscape
Key trends and insights
Seasonality
Brand impact
Mobility
Recommendations
Summary of optimisation recommendations
Industry snapshot
.15
Month to focus
March
Highest performing
month for travel and
health insurance
Gender
October
Auto and home
insurance increase
by 12% from a low
3 month period
(July-September)
Health
Health vertical covers approximately
55% of the overall performance
56% Female
Highest traffic:
June and October
Average time per
session: 53 Mins
44% Male
Highest traffic:
January to March
Average time per
session: 36 Mins
Snapshot: insurance vertical
Top sub-vertical Others to focus
Home
~4%
Auto
~20%
Travel
~8%
0-12 yrs. 13-17 yrs. 18-24 yrs. 25-34 yrs.
1% online
Peak traffic month: Feb
Pet insurance
11% online
Peak traffic month: Mar/Oct
Life insurance
6.5% online
Peak traffic month: Feb
Travel insurance
15% online
Peak traffic month: Apr/Jun
Auto insurance
22.5% online
Peak traffic month: Apr/Sep/Nov
Home/auto insurance
23.5% online
Peak traffic month: Apr/Oct
Health insurance
20% online
Peak traffic Month: Oct
Life insurance
35-49 yrs. 50-64 yrs. 65+ yrs.
Snapshot: age demographics
Snapshot: top 10 keywords by month (clicks)
Jan Feb March April May June
aami
nib
travel insurance
iselect
medibank private
bupa
compare the market
car insurance
health insurance
medibank
nib
aami
HCF
iselect
travel insurance
Bupa
car insurance
medibank private
medibank
nrma
iselect
aami
iselect health insurance
medibank private
travel insurance
medibank
health insurance
car insurance
nib
compare the market
aami
iselect
nib
bupa
travel insurance
medibank private
HCF
health insurance
nrma
compare the market
aami
nib
bupa
iselect
travel insurance
medibank private
compare the market
+aami +'car insurance'
car insurance
health insurance
travel insurance
aami
iselect
bupa
health insurance
medibank private
compare the market
nib
BUPA health insurance
iselect health insurance
July August September October November December
aami
bupa
nib
travel insurance
medibank private
iselect
car insurance
+aami +'car insurance'
compare the market
BUPA health insurance
aami
travel insurance
iselect
car insurance
bupa
nib
compare the market
medibank private
aami car insurance
BUPA health insurance
aami
compare the market
travel insurance
bupa
aami car insurance
nib
car insurance
medibank private
iselect
aami insurance
medibank private
aami car insurance
travel insurance
aami
bupa
iselect
nib
compare the market
medibank
car insurance
medibank private
aami car insurance
travel insurance
compare the market
aami
nib
car insurance
medibank
aami insurance
allianz
aami
compare the market
medibank private
travel insurance
nrma
aami car insurance
what is bupa
nib
car insurance
aami insurance
Snapshot: ROI performance / CPC comparison*
*Position 1 Bidding for Head Terms using Bing Ads Intelligence and Google Keyword Planner Tool - February 2015
Keywordhead terms Google CPC Bing CPC
Value comparisonBing is cheaper by:
Car insurance $137.54 $28.08 490%
Health insurance $208.16 $27.74 750%
Life insurance $302.16 $55.91 540%
Home insurance $183.46 $23.11 794%
Pet insurance $44.41 $12.46 356%
Travel insurance $60.89 $11.31 538%
5.8x cheaper
Bing provides much lower CPC & higher potential ROI for queries driven by key insurance keywords
July-Nov, 2014:
Use of smartphone increased from 12% to 18%
Key trigger points of increased adoption:
10/14: iPhone 6 launch11/14: Samsung Galaxy launch
Mobile Insurance Analytics
74% Health
10% Auto
6% Travel
The Story
Search queries on mobile have grown over 860% in FY14 from a standing start in FY13.
Although the overall volume is low (5%), engagement on the smartphone and tablet is higher that PC.
18%mobile
Volume: 2%
CTR: 6%
Avg CPC: $5.32
Shift to smartphone across all searches
Insurance device
traffic and
engagement
Snapshot: engagement by device
Volume: 95%
CTR: 5.9%
Avg CPC: $5.28
73%desktop
Volume: 3%
CTR: 8%
Avg CPC: $6.89
9%tablet
56%femaleBiggest age group contribution is25-34 focused on health and life insurance
44% maleBiggest age group contribution is 35-49 focused on auto and home insurance
Snapshot: gender demographics
BUPA
Compare the
Market
BudgetDirect Insurance
Australian Associated Motor Insurers
2903 Unique Audience/Mth (000)
1.3% Active Reach/Mth
1588 Page Views/Mth (000)
5653 Unique Audience/Mth (000)
2.5% Active Reach/Mth
4583 Page Views/Mth (000)
5861 Unique Audience/Mth (000)
2.6% Active Reach/Mth
4297 Page Views/Mth (000)
Snapshot: 4 biggest insurance providers by internet reach*
2792 Unique Audience/Mth (000)
1.25% Active Reach/Mth
1834 Page Views/Mth (000)
*Nielsen Report
Snapshot: competitor analysis by customer engagement on Bing
Key trends and insights
Auto insurance queries are impacted by EOFY and end of year ‘run out’ sales. These provide query spikes every 6 months (i.e. 30th June and Christmas) Another impact also appears after January. Here queries increase due to interest in new model releases during the February to April period (interest also correlates with FBT timeframe).
Search activity for health, auto, travel and home insurance are heavily impacted by seasonal events.
Insight
Seasonality in insurance
Seasonality
We recommend
Health insurance has two major seasonality spikes:
• March: People try to avoid the upcoming 1st April price rise.
• June: People search for health insurance to avoid the Medicare levy at EOFY.
Allocate campaign budgets for the above-mentioned peak periods and also maximise your budget Monday to Friday.
Ascertain which categories/strings of keywords are generating the most traffic and apply higher bids.
Maximise CTR by utilising sitelinks, call extensions and exact match on key terms.
The dramatic growth in smartphone search activity reflects a shift in customer behaviour particularly in health. Customers use their phones now predominately to do research but then move to the PC to transaction.
Search activity on smartphones has grown by 8X+ in the past year. 84% of this growth is driven by health and auto sub-verticals.
Insight
Multi device targeting in insurance
Mobile
We recommend
We see Mobility surge during the traditional holiday period. During these times, people are aware from the PC and utilise their smartphone for research activity.
Take advantage of the growth in mobile search advertising, especially those who offer health insurance and auto/car products.
Optimise your site for mobile (‘Responsive Design”) and that performance of mobile landing pages are tested regularly.
Ad copy should be specifically written for both desktop and mobile devices separately for A/B testing. Furthermore, adding “click to call” is also encouraged.
Searches for insurance are task specific. Customers search based on need around an infrequent but compelling event (e.g. buying a car).
Over 70% search activity is driven by brand.
Insight
Competitive positioning and brand importance in insurance
Brand impact
We recommend
Customers’ queries are driven by comparison shopping b/w insurance competitors. Important to have your brand attributes top of mind.
Align with ATL campaigns. Significant correlation between ATL and search performance as search consumers search for specific brands.
Focus on targeting keywords that align to your brand attributes and audience demographics.
Recommendations
Need more info? Please contact your account manager for further assistance.
KeywordsActivity is driven by brand and spend. Insurance invests heavily in brand values and this is reflected in popular keywords.
Generic keywords: users tend to search for specific brands when beginning their search for insurance cover. However, generic keywords such as “car insurance” and “travel insurance” also achieve a high degree of click volume.
It is advisable that you look into your keywords and ascertain which categories/strings of keywords are generating the most traffic and apply higher bids for these and apply exact match for these high performing terms when possible.
Keyword for mobile devices: ensure to Include “health insurance” keywords.
BudgetIt is recommended that campaign budgets are allocated for peak periods throughout the year.
• Home insurance: peak month for traffic is March.
• Auto/car insurance: click share spikes during the months of June and December with an additional surge in February - April.
• Life insurance: Click share peaks in both January & again during August.
• Health insurance has two key periods: March and again in June, just before the start of ‘tax time’ in July.
• Travel insurance: October sees the highest growth in clicks for this category spurred by the upcoming holiday periods in November & December.
Ad Copy
Double check that your ad copy
displays your unique selling
proposition – this will differentiate
you from your competition and is
more likely to entice a customer to
click on your ad.
It is advisable that ad copy should
be specifically written for both
desktop and mobile devices
separately for A/B testing.
SitelinksUtilise sitelinks where possible to ensure that users are being directed through to the most relevant page on your website. This will increase CTR and have a positive effect on the cost efficiency of your keywords.
Summary of optimisation recommendations
*Australian consumers will spend $791.4 million on February 14 - up 1.8 per cent from 2014, according to research company IBISWorld.
Thank you
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The information herein is for informational purposes only and represents the current view of Microsoft Corporation as of the date of this presentation. Because Microsoft must respond to changing market conditions, it should not be
interpreted to be a commitment on the part of Microsoft, and Microsoft cannot guarantee the accuracy of any information provided after the date of this presentation.
MICROSOFT MAKES NO WARRANTIES, EXPRESS, IMPLIED OR STATUTORY, AS TO THE INFORMATION IN THIS PRESENTATION.
