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Top 5 Local Ad Stats of the Week: LSA’s Insurance Whitepaper

We at the Local Search Association just released a free whitepaper that explores the evolving Last Mile Advertising environment for the insurance category.  We took a look at a variety of data sources to find out how consumers are looking for information on local insurance providers and ways that providers can reach and engage them more effectively.

We also looked at the differences in insurance needs based on demographic profiles and life events.  From our research we put together a free whitepaper, a press release and infographic and wrote about our key findings on Search Engine Land to help paint a complete picture of the ways consumers seek, discover and consider insurance related purchases.

Here are some highlights from the whitepaper that show just how important a multichannel marketing strategy is for local insurance providers:

  • 41% of life insurance shoppers looked for insurance after a significant life event, such as getting married, having a child or buying a house.
  • 38% of consumers preferred to shop for insurance on the web, but only 24% preferred to purchase insurance online.
  • 7 out of 10 Internet users reported that they preferred to use the websites of insurance providers – more than any other source – to review product offerings and prices.
  • On average, each mobile campaign run by an insurance provider generated a 10:1 return on investment.
  • 27% of insurance customers have used social media to learn more about a product or service, and 16% used social media to better understand a recent purchase.

Be sure to check back next Friday for our next edition of Top 5 Local Ad Stats of the Week. Have a great weekend!

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