People who fall into the Generation Y and the Spanish speaking categories responded to smartphone based advertising.
According to the results of a study that were recently released by the Marchex Institute, there are certain significant pockets of consumers who are highly engaged by insurance marketing when it is presented to them by way of mobile advertising.
This study was based on an analysis the data collected from having placed over two million phone calls.
The research was analyzed by the Marchex Call Analytics platform, examining the bank, lender, life insurer, and auto insurance marketing conducted over mobile. Its data involved consumers who had conducted search over mobile or who had clicked on smartphone or tablet based ads for companies within those sectors.
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There were a number of important key findings that were presented with regards to mobile insurance marketing.
Among the primary findings from the research were the following:
• Mobile ads can be a particularly effective method for financial services and insurance marketing to connect with Millennials. They also performed well for people in Generation X, which suggests that both of those age groups are using smartphones and tablets to search for those kinds of services and are then phoning based on the results that they obtain.
• The average sales conversations held by consumers who speak Spanish are typically longer and more detailed when talking to financial and insurance companies, than their English speaking counterparts. This suggests that their intent to purchase is strong. The average call was about two minutes longer when the language spoken was Spanish, than it was when the call was made in English.
• National call centers and local agents both struggle with the serious issue of hang-ups. The largest contributor to hang-ups was reported to be holding times. One quarter of the calls made to national call centers for financial and insurance services businesses ended in a consumer hanging up, after having waited on hold for an average of 2 minutes. For local branches, that number was slightly lower, at one in five calls hanging up after an average holding time of a minute and 39 seconds.