Search engine optimization (SEO) is the procedure of improving the visibility of a website or a web page in search engines via the natural or un-paid search results.
Competitive Trading Environment and Online Competitors
The internet has considerably amplified the competition in the insurance industry. Insurance clients are no longer only purchasing insurance through their financial advisor or broker – many direct insurers are now cutting out the middleman and are offering highly competitive premiums. The younger consumers who grew up with the internet are no longer afraid of doing business online and are rather comfortable in buying insurance online.
Search Engine Optimization [SEO] and Insurance
If you build the website – there is no assurance that you will be found and that the visitors will come and more important that these visits will outcome in a business decision. This is where search engine optimization comes into play. I would like to converse the significance of search engine optimization in the insurance industry in this post and I would like to do so in a manner that is easy to understand for those like myself with limited programming skills.
But why is it so important to have your insurance website optimized?
The easiest is to use the equivalence of a golf player and how the player is to make money. If you play in a tournament with a small field of for example 12 players – such as the Sun City Million Dollar Tournament – it is easy to find yourself on the first page of the leader board and to make money.
If you however play in a major tournament such as the Masters where you play amongst the very best 90 players who had to succeed for the tournament] – you need to play exceptionally well to find your name on the first page of the leader board and with a chance of taking home the big prize money.
In the insurance industry and online environment there are essential similarities. There is a very big playing field and you compete with many other insurers trying to get to the first page of the leader board. The leader board is the search engines such as Google, Bing, Yahoo etc – and you will only make the big money or attract the online purchases if you find yourself on the first pages of the search results.
How Big is the Playing Field?
The best illustration is to share the search on Google for the search term “insurance”. Note the number of search results. In an increasingly competitive trading environment insurance companies compete with one another and with big marketing budgets. Insurers are very aware that their financial sustainability depends on the ability of the consumer to find their websites, to be enticed into requesting a quote and to make that purchase.
Many of the larger insurers pay hundreds of thousands of rands to companies that claim to be search engine optimization specialists or SEO specialists. These companies tweak websites, provide quality content, create links with other websites and do everything in their power to ensure that the websites of their insurer clients are easily found.
Direct insurers and insurance aggregators are increasing the pressure on the more traditional insurers to stay applicable in the modern era of insurance marketing. These new role players are focused on search engine “visibility and findability” and well competent of taking away market share from those insurers who underestimate the power of direct and online marketing.
On Insurance Chat we would like to share with readers in a few more posts some of the techniques used for search engine optimization in the insurance industry and also advice consumers on why it is important to remain cautious before making their insurance purchases.