Health insurance is an extremely busy nice, with lots of powerful and aggressive competitors. This is why business owners who want to survive and thrive in this industry need to apply the best marketing tips and strategies. Since the internet in all its forms is one of the most effective and affordable channels, it comes without saying that all health insurance marketing need to be present online.
The best way to make the most out of your advertising budget is to make sure you understand all tips and actions that can help you improve your ROI.
First of all, you have to choose the timing of your campaigns wisely. As you probably know already, health insurance is a product with its seasonality. By intensifying your online marketing efforts during the open enrollment periods, you’re going to increase your chances to grab a bigger market share. If you advertise when nobody can enroll, you do nothing else but throw your money out the window.
All online marketing SEO experts would recommend you to choose your keywords very carefully. This choice can easily make it or break it for you, so you need to learn how to discover the most lucrative terms, the ones that can bring you the most bang for the buck. For instance, bidding on general, informative keywords such as “health insurance” is a disastrous approach. It would eat up your whole budget in no time, without bringing you the expected clients. This is the typical mistake most Internet marketing beginners are guilty of. If you want to stay away from it, you have to learn what are the keywords with high commercial intent, as they are going to prove extremely lucrative. Moreover, you have to make sure these keywords have enough search volume to enable you to scale your campaigns. There are some good tools to estimate the monthly search volumes of various keywords, but you may also need to run some tests by yourself, to assess these volumes.
The best online marketing tip for a health insurance company is to have separate campaigns for each line of products. This would enable you to target different demographic groups, thus using your budgets more effectively. It makes sense to use a different set of keywords for individual health insurance, a different one for Medicare, and yet another one for group insurance. Besides, you should use dynamic keyword insertion, as it has the power to boost your conversion rates. This would enable you to bid higher than your competitors since you’re going to be more profitable.
Last but not least, you should always bid on your brand. Your competitors are going to do it for sure, so you can’t afford to allow them to steal your clients. If your brand name is trademarked, you can report these competitors to Google. However, if you don’t own your trademark, you won’t be able to stop them from bidding on your brand.
These are only a few tips to help you improve the profitability and the effectiveness of your online marketing campaigns. Health insurance is an extremely competitive market, so you always need to be one step ahead of your competitors, if you want to be successful.