Ideas & musings about consumer behaviour

Does a high SEO ranking guarantee motor insurers a larger market share?

Digital marketers often wonder what is it that pushes their brand higher than that of their competitors in the online space. With every brand scrambling for any ounce of online space they can get to gain more visibility, is there a formula with which digital marketers can strike gold for their brands?

Maybe not in entirety, but our research studies have unveiled that online consumer behaviour patterns could be the key to helping you achieve your brand’s goal.

In a recently conducted series of research studies, we evaluated 70 motor insurance sites on desktop and mobile in Australia, Canada, Ireland and UK to analyse in depth consumer purchase behaviors.

It is generally observed that when consumers research brands in an industry, they undertake three major steps when making a purchase.

  • Discover –finding, shortlisting and selecting a preferred brand.
  • Consider –considering brand and product options.
  • Act–purchasing the product.

Starting with an initial brand preference in mind, consumers begin researching for motor insurers. So, does that mean a high initial brand preference is a good sign for a brand? Surprisingly, that might not always be the case. Our research study revealed that some brands with low initial preference could end up having a higher rate of traffic visiting their site.

Here are two reasons for such behavior patterns:

  1. 24% of consumers see a motor insurance brand when using a search engine (e.g. Google).
  2. 17% of consumers discover a motor insurance brand on a comparison or an aggregator website.

In Australia, Canada and Ireland the second most used site for consumer research behind search engines is brand websites. While for UK, aggregator sites tend to be more commonly used. In the case of those on the desktop, aggregators were even used more than search engines!

Understanding such patterns will help brands unlock areas that they need to focus on.

But how can such data help fuel your SEO ignition?

A great example of this is Australia’s Budget Direct. On desktop, Budget Direct went from a 3% initial preference rate up to a 12% final preference rate thanks to an impressive 24% visitation rate. Similarly, on mobile they had an initial preference of 7%, final preference of 13% and a visitation rate of 17%.

Within the search results, Budget Direct is tailoring their SEM ad creative to the search terms entered, appearing more relevant and maximising the top listing opportunity. They’re even leveraging off competitor search terms.

For example, when a consumer searches for AAMI car insurance, Budget Direct not only delivers up an ad encouraging consumers to compare insurance options, but they also take them to a tailored landing page that specifically mentions switching from AAMI. With an average of 50% of consumers initially preferring a brand because they’re a current customer, this is a smart move from Budget Direct.

These are just some examples of the insights that we provide our clients with. If you want more detailed insights on the motor insurance industry, click here to access our Motor Insurance industry report.

We recently ran a motor insurance webinar that was packed with insights from the Australian, Canadian, Irish and UK markets. Click here for more- http://bit.ly/Motor-Insurance-Webinar-2019

0 Comments

Leave a Reply

Latest Buzz

Office Numbers

Australasia
+61 3 9982 3400

United Kingdom
+44 (0) 203 725 8260

Ireland
+353 (0) 21 601 9274

Request a call back