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Covid-19 – Helping Insurance Brokers generate quotes and sales
1st May 2020
We teamed up with Infinity Call tracking to discuss the impact Covid-19 on insurance brokers, and how we are helping our clients navigate these extremely difficult times. The idea of the podcast was to give some immediate tips that any insurance broker running Google Ads can apply.
You can list to the podcast here – https://bit.ly/3bhVdTZ and the transcript is below:
Matt – Hi, This is Matt and welcome to the insurance marketing podcast, powered by Infinity. If you’re a marketing professional working in insurance, then this podcast can give you some immediate, actionable advice to help you solve some of the biggest challenges facing your team today.
In this episode, we’re talking with Steve Tarbard, founder of Beyond Clicks, about the impact of Covid-19 and what you can be doing right now to best manage the crisis.
Steve works with more than 50 insurance brokers helping them to solve the challenge of generating sales outside of aggregators and lead generation companies using PPC marketing.Steve and his team have recently been highlighted by Google as an industry thought leader for insurance. Google Ads Management.
Steve, how are you doing?
Steve – I’m good, thanks. How are you?
Matt – Not too bad, all things considered. Doing okay right now. So, Steve, Google says you’re a thought leader. That’s quite a compliment.
Steve – Yes, it certainly is. We’re really pleased when Google approached us to work on the leadership piece for the insurance industry. The team has worked really hard to deliver the results for our brokers. So it’s nice that we received this level of recognition.
Matt – Certainly is. Especially from Google, right?
Steve – Yes, it’s a big name.
Matt – So Covid-19, what what are you seeing with respect to insurance?
Steve – So I think everybody really every industry is there’s a certain level of uncertainty at the moment. Like most insurance products are compulsory. A lot of the factors in the purchasing process are driven by things like seasonality in the economy and vehicle sales, etc.. So what we’re seeing at the moment is Google searches are down across the board, but so are lead generation companies and aggregator volume from the data that we’ve got the insight into.
Matt – Right. And is that been consistent since March or there’s been any any changes to that recently? Or is it is it just kind of staying the same?
Steve – So we started to see a tail off around the middle of March and then slowly has decreased over time. The interesting thing is that there are some spikes. So the traditional stats and the traditional trends that you’d see are no longer really applicable with a change happening on a daily basis. And there are some opportunities out there.
Matt – Yeah. Fast moving world right now.
Steve – Apart from looking at historical stats and trends, it literally is day by day analysis and looking at the metrics in that way.
Matt – So what actions can insurance marketing teams be taking to to manage right now?
Steve – So generally market is used to looking at year on year stats and the trends for each different insurance products and they are no longer relevant. Like we just said, from our experience, insurance markets and continually changing and our advice would be going back to the basics. So you’re looking at where the current opportunities are and they’re making sure that their sales teams have the right number of quotes to fulfill their quota.
Matt – Interesting. Back to basics. I like that that’s sound advice if you ask me and y are products that are perhaps seeing increased demand or any specific spikes per product.
Steve – We are seeing there are a lot of opportunities out there. So even though the level of search is lower than ‘normal’, so it’s a level of competition. So it creates a different trading environment, to what it was three, four weeks ago. So that the opportunities are there.
Matt – When you say it’s a different trading by than three to four weeks ago, I mean, weeks, not not months or years. It’s crazy. What about impact on future premiums? Do you think there’s any impact the.
Steve – So, yes, they should be. So claims levels obviously played a part in insurance premium costs. So since I looked down, the number of claims obviously subsided due to the number of vehicles that were on the roads.
Matt – So it should have a positive impact on future premiums, right?
Steve – Yes, that should be the case.
Matt – And finally, I guess if you have one tip for an insurance marketing team right now, they must be thinking of doing during the crisis.
Steve – One tip would be looking at what you need to deliver for your sales team and looking at live stats to see how you can achieve that goal.
Matt – So really drilling down and looking for opportunities within within the search market. Interesting. That’s really helpful. Well, Steve, we like to keep it brief there. Thanks very much for your time. And listen, stay safe and hope everything gets back to as as much normality as we can very soon. Thanks a lot for your time,
So thanks for listening to this insurance marketing podcast powered by Infinity, giving you immediate, actionable advice to help you solve some of the biggest challenges facing your team today. Steve’s main actionable advice is to get back to basics, track your key stats every day whilst liaising with the sales team. What the key opportunities are to fuel growth with infinity’s call tracking. To find out more at Infinity.co/uk