“How to improve my insurance business?” It’s a question every insurance business owner asks themselves regularly.
To improve it, first you need to understand exactly how it’s performing.
I don’t mean performing as in just overall profit year on year, but pinpointing exactly where that profit originated from and what missed opportunities there are for your business and why.
This means knowing:
Who is coming to your website?a
Where are they entering your website?a
Where your website traffic is coming from? And through which channels?a
What sources are sending you traffic within these channels?a
What pages potential customers are entering your website on and finding most useful?a
The search terms potential customers are using to find your website?a
Which search terms are generating revenue for your insurance business?
In this article I show you the importance of all the questions above, how you can measure them to identify what needs work and where the best opportunities are to lift your business and dominate the insurance niche of your choice.
Let’s get into it…
1. Website Traffic- The Channels Your Visitors Are Using To Find You
Firstly, it is important to get an overview of the channels your website traffic is coming through to reach your site.
These channels are most commonly broken down into 7 categories:
Using Google Analytics you can access this data very easily by clicking “Acquisition” and then “Overview”.
This will really paint the picture to what your methods are in attracting new business.
This company is attracting most of their business organically through well crafted and Search Engine Optimised (SEO) website content. They are also using a small percentage of paid advertising through Google Adwords to supplement the organic traffic they are receiving.
This is a great way to identify and monitor the two most common channels of traffic to your website in the insurance industry: Organic Search (SEO) and Paid Search (advertising) so that you can balance them to achieve a suitable ratio for your business depending on its goals of generating new business.
Let me show you what I mean...
Your brokerage may have very little website traffic but you plan on increasing traffic to your site to develop more business.
Therefore, you focus on content marketing by creating regular blog content and optimising it for search engines to boost your organic rankings and traffic by attracting potential customers when they are searching for insurance solutions online.
Because content marketing takes time you incorporate a paid advertising campaign to attract new business immediately while you focus on publishing regular content on your site over time to increase organic traffic.
Over time as organic traffic increases, you reduce your paid search traffic by adjusting the amount you spend on paid search such as Google Adwords and, therefore, balance the two channels of traffic.
That way you keep your website traffic up where you need it to be but reduce the cost to you by not having to continuously pay the high pay per click costs that Google Adwords charge to generate traffic instantly.
Tip: For an accurate indication in Google Analytics look at your data month on month.
2. Website Traffic - The Sources Of Traffic Within Your Channels
Now you want to look at the origin of the traffic in each channel. This is important because these sources are referring your business as the website potential customers should go to, to solve their insurance problems.
When you look at it like that all of a sudden it makes you think “I better start building more rapport with the sources that are sending me the most prospects”.
In particular, the sources that are sending you the prospects that are converting into customers for your brokerage!
To view your sources in Google Analytics you want to click “Aquisition” then “Sources/Mediums”.
Here you can see the sources inside each of the channels sending you traffic.
This enables you to identify all the sources that push prospects your way so that you can focus your efforts on the best performing sources to increase the amount of traffic they refer to your website.
This website is getting a few referrals from LinkedIn as shown in source number 5 above. Then when clicking on source number 5 you are provided with more in-depth information as shown below.
What’s really interesting here is the bounce rate, people that land on your website and then click off after a short time because it’s not relevant, is really low at 38.89% and the average session duration on the website is huge at 13 minutes and 14 seconds.
This means that the people being referred from LinkedIn are finding the information on the website extremely helpful and are most likely converting into leads for this business.
Whatever this company is doing on LinkedIn is working and they should focus more of their efforts on this source to improve their insurance business.
3. Engagement - Where Are People Entering Your Website
It’s always great to know which pages on your website most people land on first, in other words the most common entry points to your website.
This might just surprise you!
The most common entry points to a website are generally through your blog pages because they are hyper specific to potential customers search queries in search engines such as Google and, therefore, attract potential customers.
To establish what your websites most common entry points are, in Google Analytics select “Behaviour” then “Site Content” and then “All Pages”.
You will then be presented with a table that organises a list of your web pages in order of highest to lowest page views. In this table is a column titled “Entrances”, click “Entrances” so that it shuffles the results from highest to lowest number of times a visitor entered your website through a specific page.
This tells you a lot about how you can improve your insurance business by publishing more in-depth content on the topics that the best performing web pages cover.
What’s important to know here is that if your website is seen to provide regular content on a topic in particular, Google will regard your website as the expert on that topic and, therefore, rank your web pages higher. This means that your website will show up at all the right times when potential customers are searching for answers in relation to these topics.
With everyone going to Google in this day and age there really is no better and simpler way to enhance your insurance business.
4. Search Terms - What Are People Typing Into Google To Find You
Now down to the nitty gritty!
You know what pages are most commonly attracting prospects, but what about the terms they are searching to find these pages on your website?
You may be thinking what does it matter, as long as they find my website I don’t care.
If you know how, using platforms such as HubSpot you can actually see what the exact search term was for a new customer when they landed on your website for the first time.
This is incredibly powerful because it enables you to establish search terms that are revenue generating for your business.
Therefore, you can focus your efforts on creating website content around revenue generating search terms rather than wasting time guessing and creating content that does not:
Convert visitors into leadsa
Convert leads into customers
But what if I don’t use HubSpot, how can I find out where people begin their searches I hear you ask?
To find out this time you will be using Google Search Console.
When logging into your Google Search Console select “Search Traffic” and then “Search Analytics” and you will be provided with data of your website's performance in Google’s search.
It is here that every search term used by a visitor to land on your website in Google is listed.
Remember this information is powerful because it enables you to see the exact keywords that are already connected with your brand and being used to find you in Google search. It will give you the insight that you can use to come up with more keywords to focus on when improving your insurance brokerage business.
5. Demographics - Who Is Coming To Your Website
Google collects data from searchers habits online and is able to profile a searcher to provide you with the demographics of the potential customers coming to your website.
By analysing the data in Google Analytics you can get a breakdown of the percentages for:
At first glance it may not seem very important, but this information is valuable in helping you understand your audience on a deeper level to develop your business going forward and target everything you do towards the demographic that is providing you with the most revenue.
To wrap it up use this guide as a starting point to equip you with the tools and know how you require to analyse exactly how your insurance business is performing online and establish what areas are worthwhile concentrating on to improve it.
Because if you can’t measure something, you can’t improve it!
If you’re considering taking your insurance business to a whole other level then download our guide “Website Enhancement for Serious Lead Generation”, and you will be provided with the information you need to decide whether a platform such as HubSpot is a step in the right direction your insurance business is looking for.