Ideas & musings about consumer behaviour

The Influence of Comparison Sites on the Digital Pathway to Purchase Car Insurance

The Influence of Comparison Sites in the pathway to Purchase Car Insurance

Author: Marie Sheehan

One third decide which car insurance provider to go with on a comparison website
While 92% of UK consumers will use a search engine at some stage of the pathway to purchase motor insurance, 87% actually start the journey there. 30% then move to the brand website, however almost half go to a comparison or aggregator site.

29% are then making the decision to purchase and stopping their journey on the aggregator site. A further 9% of those who visit provider’s site are going back to aggregator sites.

Do consumers see the aggregator brand and the motor insurance brand as the same thing?
From the “Search Acquisition Module”* of the Global Reviews Digital Marketing Effectiveness programme**, where we capture every keyword searched on and every click made, we know that after “car insurance”, “compare the market” is the second most used search term – putting it before any of the brands. In fact the top three destination sites from consumers’ search are aggregator sites.

Car Insurance keyword search

Organic & paid key word search by domain. Research completed by Global Reviews in Q3 2014
UK Motor Insurance Brands DSE

The top two reasons that consumers use aggregator sites are that 63% think it would be the easiest way to compare different options and 57% say that it is the easiest way to see a range of policies from different providers at the same time.

Choice overload
Consumers could recall 46 motor insurance providers. With the market being so fragmented, consumers are looking for help and cues to help them make the purchase decision. From a consumer’s point of view the line between a brand and an aggregator is becoming increasing blurred.

“It’s quicker this way”
52% of consumers go to the comparison sites for pricing information and only 32% go to the brands sites themselves. Consumers tend to look for information up front on aggregator sites and then make their purchase on brand websites (42%). They are doing this on the basis of speed.

Should Motor Insurance Providers act more like comparison sites?
Consumers who go to the aggregator first believe they will finish the journey faster, whereas consumers who go to the brand website believe they will get the best price. The question is can the brands not introduce a comparison across the market themselves? As aggregators are acting more like brands, why don’t the brands start to act more like aggregators and start taking back control of the consumers touch points?

 

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

*The Global Reviews Search Acquisition Module gives you back what Google took away and give you the keyword analytics of those who bought not only from you, but those who chose your competitor.

**As part of our ongoing programme of studies into the digital marketing effectiveness of UK motor insurance providers we ran the latest round of our Digital Marketing Effectiveness (DSE) benchmark in November.
The Global Reviews Digital Marketing Effectiveness (DME) programme focuses on the Discover and Consider stages of the online purchase journey.

The Global Reviews Digital Marketing Effectiveness (DME) programme focuses on the Discover and Consider stages of the online purchase journey.

The Global Reviews Digital Marketing Effectiveness (DME) programme focuses on the Discover and Consider stages of the online purchase journey.

The DME identifies both the barriers and enablers to how and who consumers shortlist in the online purchasing decision journey, what drives final preference and crucially WHY your potential customers (but now lost opportunities) pick another brand over yours.

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