The Internet is an ever-growing marketplace. Still, it is full of websites and brands that compete for consumer attention. This is why it can be difficult to increase brand awareness online.
There are two strategies that can help even the smallest insurance agencies to create brand awareness online … Search Engine Marketing (SEM) and Search Engine Optimization (SEO). You might think these are the same. They are not. But we'll get into that later.
Search engine marketing is not new. However, the landscape has changed over the past decade.
The insurance industry generated $ 630 billion in 2019. The largest companies in the insurance industry now take full advantage of methods such as pay-per-click advertising (PPC), search engine optimization and social media advertising. As a result, it has become more complex to be on the first page of search results. This is especially true for insurance companies with limited marketing budgets.
The first page of Google is a battlefield. It's a battle for expensive keywords and well-positioned marketing campaigns. Before we create your battle plan, it is important to understand the facts.
Search Engine Advertising in the Modern Era
In 2020, more than $ 55 billion was spent on search advertising in the United States. According to the same Statista report, advertising spending in the United States is expected to grow by 7.2% and reach over 66 million by 2021
Although social media advertising is not new, it has developed. Better location opportunities and target group targeting are now available on social media platforms. As a result, we've seen an explosion in adoption as companies shift marketing budgets to social media.
It has also increased the cost of advertising on Facebook. According to Forbes, prices are 90% higher than the year before. The insurance industry is feeling the increase. The finance and insurance industry has one of the highest CPCs on Facebook at $ 3.77.
That's a lot. Although many experts expect these costs to be evened out, Facebook knows the value of their offer. By 2020, there will be more than 1.69 billion Facebook users. Seventy-four percent of Facebook users are high-income earners. Ninety million small businesses use Facebook.
The benefits outweigh the costs.
Keyword Context Is Valuable
There are two things you can take from the growth and rising costs of advertising with search engines. and social media.
1: PPC is valuable
Companies withdraw from PPC for a simple reason. Return on investment. Here are some important metrics that show the potential return for investing in SEM and social media.
- According to Google "For every $ 1 spent on Google Ads, companies earn an average revenue of $ 2."
- PPC ads are among the top three page generators for conversions. (Form Stack)
- Sixty-five percent of clicks from users who intend to make a purchase go to paid ads.
- In total, Facebook ad impressions increased 37 percent in 2019. (Sprout Social)
2: Context Makes You Stand Out
You may be asking yourself how you can compete when it comes to PPC and keyword buying. . The answer is context. To help you better understand what I mean by context let me first give you some, well, context.
Simply put, a contextual keyword is a more specific keyword. One that your carefully determined target audience is looking for.
For example here is what happens when I search for car insurance on Google:
As you can see, enter Farm, Progressive and GEICO owns the best advertising space for this keywords. They paid a lot of money to maintain and maintain a presence in this advertising space. It is just not cost effective for small insurance companies to try to compete for these generic insurance keywords.
Let's replace it. agency near me ??
Yes, Progressive and some major insurance providers still seemed high in the ad section. But so did local agencies.
This is a great example of the space you want to target with your advertising budget. It also shows how just a little added context to your keywords can affect.
Want to learn more about bidding on Google keywords? Watch this free webinar Masters of Marketing: Google Ads: Keywords and Bidding Tips.
Be specific and get local
Here's a great example of being creative with PPC ads on social media and search engines.
A company I worked for in the past relied heavily on conferences to motivate buyers. However, the competitors were in the same situation. We knew that many participants would be on their phones during a three-day conference. It was inevitable. They would surf social media and share their experiences. We also knew that they would rely on their phones to get directions, find restaurants and entertainment during downtime. Search engines are perfect for that kind of thing.
We decided to locate ads within a 100 mile radius of social media and search engines during a competition conference. As a result, we saw a significant increase in traffic to our site during this period.
Strategy and creativity win the day! The rule of thumb for winning the context battle: Be local and think specific!
To learn more about geographic targeting, check out these free resources:
There are many other features offered by Facebook that can help you make the most of your Facebook advertising budget. Facebook has tools in place to help you do just that.
Facebook Advertising Plans for Small Businesses
Facebook understands that small businesses need to be able to compete. They also understand that not everyone is a digital marketer.
They want " Remove the guesswork from Facebook Ads so they created a free, powerful solution to help small businesses and their marketing teams.
Growing Without Killing Your Budget
SEM should be a cornerstone in the creation of an advertising plan. All that is needed is to answer some quizzes, and the tool will give you what you need to get started. Every marketing budget … But do not forget SEO! You really should have a healthy mix of about 30 percent SEM and 70 percent SEO.
The great part about SEO is that it's basically free if you're willing to do the job yourself. It takes time, patience and consistency to see positive gains from SEO, but a consistent focus on content creation, review generation and Google My Business refinement is a great way to increase the agency's brand awareness online! Selection, SEO differs not from SEM. Context is the key.
Use Google Analytics to determine which keywords work best or do not work at all. Make them more specific and measure your results from there.
The landscape of search engine marketing has changed. With a marketing strategy centered around context, not just content, you can grow your agency brand online.
ITC helps insurance companies with their digital marketing to help lead and increase growth. To learn more about ITC's agency marketing services, visit GetITC.com today.