Ideas & musings about consumer behaviour

For Aviva it’s all about the brand, but Insure & Go are converting more travel insurance customers online

Domestic airline booking

Author: Marie Sheehan

In 2014 we ran Digital Marketing Effectiveness (DME) studies into the UK travel insurance industry. These studies measure how effective travel insurance providers are at attracting customers online.

Comparing Insure & Go and Aviva
After examining the sales and acquisition funnels for both Insure & Go and Aviva, it’s clear that these brands are performing very differently in the market. In fact twice as many consumers looking for travel insurance are aware of Aviva at the start of their research, but Insure & Go win three times as many customers in the end.

Fig 1: Insure & Go’s sales Acquisition Funnel Source: Global Reviews Digital Marketing Effectiveness study into the UK Travel Insurance Industry 2014

Fig 1: Insure & Go’s sales Acquisition Funnel
Source: Global Reviews Digital Marketing Effectiveness study into the UK Travel Insurance Industry 2014Recall: Unprompted brand awareness
Visited: Amount of people who visit a brand website
Shortlisted: Multiple select option of brand the consumer is considering
Preferred: The brand chosen by the consumer

What Insure & Go is achieving is even more remarkable when it is considered that in our research none of the potential customers even visited the Insure and Go website.

Why does Insure & Go perform better at online conversion?
When we drilled into the sample, we found that keywords the sub-segment of those consumers who shortlist Insure & Go for further consideration use when searching for travel insurance relate to price comparison or specific price comparison websites.

Fig 2: Search engine terms used by consumers who shortlist Insure & Go Source: Global Reviews Digital Marketing Effectiveness study into the UK Travel Insurance Industry 2014

Fig 2: Search engine terms used by consumers who shortlist Insure & Go
Source: Global Reviews Digital Marketing Effectiveness study into the UK Travel Insurance Industry 2014

When consumers search for “travel insurance” in Google, Insure & Go is the third result listed. Along with their effective SEM and SEO activities, Insure & Go are also winning customers through their strategy with aggregator sites. 69% of Insure & Go shortlisters used an aggregator website – where one in five made their final choice.

Aviva
The keywords used by the Aviva shortlisters are different and are mainly brand related search terms.

Fig 3: Search engine terms used by consumers who shortlist Aviva Source: Global Reviews Digital Marketing Effectiveness study into the UK Travel Insurance Industry 2014


Fig 3: Search engine terms used by consumers who shortlist Aviva
Source: Global Reviews Digital Marketing Effectiveness study into the UK Travel Insurance Industry 2014

 

What is surprising is when consumers search for “travel insurance” in Google; Aviva does not appear in the first page of results. – Is Aviva missing a trick by not investing in being in the top ten Google results?

14% of consumers claim to have seen recent advertisement from Aviva, whereas only 4% can recall any Insure & Go advertising. Furthermore a lot fewer consumers visit an aggregator site on their pathway to purchase (49% of Aviva shortlisters, 69% of Insure & Go shortlisters).

Aviva’s marketing strategy seems to be focused on increasing brand awareness and advertising. Is Insure & Go’s mix of effective search engine marketing and their aggregator strategy the reason they are converting three times as many potential customers?

It is also an interesting to note that the consumers who shortlist Insure & Go are different to the people who shortlist Aviva with different approaches to searching and researching online.

Consumers’ reasons for their choices
Interestingly, the reasons why those who shortlist Insure & Go do so is because they have good offers, because they have used them before or because they found them through a search engine.

Fig 4: Reasons for shortlisting Insure & Go Source: Global Reviews Digital Marketing Effectiveness study into the UK Travel Insurance Industry 2014

Fig 4: Reasons for shortlisting Insure & Go
Source: Global Reviews Digital Marketing Effectiveness study into the UK Travel Insurance Industry 2014

Contrary to this those who shortlist Aviva do so on the basis of familiarity, that they have good prices and build trust are the top three reasons given by those who shortlist them.

Fig 5: Reasons for shortlisting Aviva Source: Global Reviews Digital Marketing Effectiveness study into the UK Travel Insurance Industry 2014

Fig 5: Reasons for shortlisting Aviva
Source: Global Reviews Digital Marketing Effectiveness study into the UK Travel Insurance Industry 2014

How does this impact conversion to final preference?
43% of those consumers who shortlist Insure and Go choose them as their final preference in comparison to just 16% of those who choose Aviva . The difference in shortlist scores is not surprising considering the search pathway each group of shortlisters has taken to this point.
Consumers who ultimately choose Aviva do so because they have used them before (52%) or that they trust them (45%). Those that choose Insure and Go do so because they have used them before (51%) or that they had the best policies for their needs (51%).

In the travel insurance market, what is the value of brand trust and how does it differ from having used a company before?
Consumers are telling us that in the travel insurance market they will give their repeat custom to those companies that continue to put them first. For Aviva, loyalty is a claimed brand association which leads to lower levels of conversion. For Insure and Go, loyalty is bi-product of putting the consumer first and understanding their needs.

What is driving final preference?

What is driving final preference

 

If you would like to know more, please contact us.

International Best Practice
To find out more about what best practice looks like and those who are achieving it view our webinar recorded on February 10th: UK Digital Travel Insurance in 2014 – A Review of the Year.

Travel insurance webinar

 

Research Calendar
The next Global Reviews UK Travel Insurance Providers Digital Sales Effectiveness Study will be fielded in May 2015. If you would like to know more, please contact us.

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