How comparison sites can leverage digital to drive conversions.
No one enjoys shopping for insurance, credit cards, or mortgages, yet they are items everyone needs. With the sheer number of options and the time it takes to decide, any hiccup can make the buying process feel all the more tedious for customers.
All this to say, comparison sites face a tough challenge: with the ever-increasing cyclical cost of acquiring customers in an industry with low loyalty and stiff competition, they need to ensure no customer is left behind and that every micro experience leading up final click-to-quote is seamless.
Here’s how to leverage digital to protect your bottom line while winning over customers.
Use self-service analytics to drive the customer’s experience forward.
Giving customers the information they want when they want it will make them more engaged with your brand and stay on your website longer. To do so, you need the ability to act on data and deliver a frictionless digital experience that pushes prospective customers through the funnel before they drop off and move on to a competitor site.
Not everyone within an organization is a data expert, and analysts are often too busy to respond to analytics requests on the spot—and that’s a big problem in an industry that requires on-demand solutions.
Self-service analytics tools like Atlas enable anyone within an organization to get to digital answers faster, regardless of role or background. By showing what data points matter most, you can operate more efficiently and use insights to guide optimization efforts before issues impact more customers and the company’s bottom line.
For example, the quote request/delivery guide helps insurance comparison sites optimize that critical first touchpoint when customers are still shopping around and considering their options.
This insurance-specific guide tracks the quote request process to ensure customers can easily provide all the necessary information to get a quote with KPIs like auto quote completion rate and lead creation from quote summary.
When something does go wrong, teams are notified and driven to a guide-specific alert, showing what happened, when, and why.
Every click counts. Don’t leave money on the table.
Have you ever run a marketing campaign across your website or conducted UX testing with results, either good or bad, that you couldn’t interpret or explain? Naturally, we tend to focus on disseminating poor results, but it’s arguably more important to be able to say why a good campaign or experiment worked.
Rest assured, you’re not alone. Many comparison sites struggle with this exact problem. Conversion, interaction-to-quote, and quote-to-click rates are often the north-star metrics that the industry consistently focuses on to gauge campaign performance. Still, these metrics alone don’t reveal the whole picture.
For example, a campaign might generate interest and high click-through rates, yet users aren’t converting. Is it just bad traffic? Or are isolated friction/issues and general pain points on the website costing you referrals? In an incredibly competitive marketplace with low brand loyalty and even higher acquisition costs, providing easy, frictionless access to a product the customer needs—yet probably doesn’t want to shop for—is mission-critical for comparison sites.
If campaign performance starts to head south, digital tools like Atlas can help you understand what’s not working and course-correct in real-time.
Returning to the above example, say you notice the click-through rate for an ad is performing well, but it’s not converting new customers. Using the Atlas landing page guide, you can quickly dive in and surface the drop-off between clicks and conversions.
In this case, an anomaly alert shows that desktop users clicking the ad are receiving a 404 error instead of being driven to the desired landing page.
Surface customer insights faster with Quantum Metric Atlas.
Digital is integral to the core strategy of comparison sites, optimizing these experiences is essential to maximizing their return on paid search spend.
Interested in learning more about how our newest solution, Atlas, helps comparison sites do just this? See a few Atlas insurance guides in action.