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comScore: Search pushes auto insurance quotes
Auto insurers should pay special attention to their paid search campaigns. And, if they aren't running with paid search this may be the time to get involved. According to a new study from comScore, auto insurance quotes referred by search queries increased more than 35% in 2007.
There were nearly 9 million search-referred auto insurance quotes made in 2007. With search accounting for more than one-quarter of all quotes, it seems that paid search is more important than ever for auto insurance providers. The overall growth for online auto insurance queries increased only 15%.
What is most interesting, however, is that branded terms didn't result in more completed quote applications. Generic paid search terms performed much better, accounting for 33% of completed quote forms while branded paid terms accounted for only 19%. In the organic category, generic also led (22%) over branded (11%).
Kevin Levitt, comScore vice president said, “With cost-per-clicks rising, especially for the most competitive generic terms, search marketers need tactical competitive intelligence to optimize their search spending.”
It seems that consumers aren't searching spontaneously. According to the report, after seeing an insurance advertisement consumers were most likely to visit the website listed (26%) or were likely to search for company information (22%).
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