The traditional method used by a millennial to access auto insurance is to ask recommendations from family and friends. Today, a millennial will walk the digital path before making a purchase. According the results of a 2015 survey made by Rocket Fuel on 1,020 consumers, there has been a marked increase in the significance of digital channels like insurance websites and online advertising. Consumers who became aware of an auto insurance provider through TV and online ads increased by 50% over last year while those who have requested for quotes through the insurance website increased by 9% from 2014.
Rocket Fuel also found out several specific moments that helped insurer’s digital marketing platform in predicting shopping behavior of certain individuals who will soon be in the market for auto insurance. For example, teenagers who have reached driving age will most likely look for auto insurance. Savvy insurers who use these insights and the right platform can spirit away the consumer from the competition by providing relevant information at the most influential moments.
There are insurance companies that allocate a budget to different advertising channels to gain top of the mind awareness. There are those that tap into the overwhelming power of online channels to drive that top of the mind awareness. This is very crucial because today because most consumers have become reliant on the internet. Investment for digital advertising is 9.4 times more effective than TV advertising. Spend for online advertising is the smallest compared to display, radio and print.
Insurance companies that use online advertising to generate top of the mind awareness get the most bang for the buck. In today’s digital world, the power of the internet can no longer be overlooked by businesses because more and more people become involved with websites whenever they search for products and services.
There are different types of car insurance (ประกันภัยรถยนต์) to choose from. It is important to determine whether you need highest coverage for all damages to your car and that of the third party or minimum coverage for damage you do to others. There are websites willing to help you find the cheapest car insurance to save money.