What Do Standard Analytics Look Like For Insurance Agencies?
There’s a lot to talk about when it comes to website analytics. It can be difficult to figure out where you fit in and what your goals should be. It’s extremely difficult to find out what your competitors are putting into advertising and what their analytics look like. However, with a quick Google search you can discover what click-through rates and average analytics are for the insurance industry.
Comparing Your Website to Others
- Evaluate industry standard
- See where you stand
- Set goals
Your first effort at creating Google AdWords probably won’t be extremely successful. It’s going to take time to tweak and analyze to see what works and what doesn’t. Take a minute and Google the click-through rates (CTR) for your industry. This will help give you an idea of what similar companies are achieving. For example, a retail store that is constantly advertising sales and using flashy models in their ads is going to have vastly different results than an ad for an insurance agency (unless you’re being creative). Comparing an insurance agency’s performance to a retail store’s performance is like comparing apples to oranges.
The average CTR for text ads for an insurance agency is 2.9% and .52% for display ads. Those numbers seem to be pretty low; however, most industries don’t have an average CTR over 5% for text ads.
Once you know what is standard for your agency, you can begin setting goals. Monitor your ads and make changes every week. Ads are very dynamic and should always be monitored and tweaked.
Facebook vs. Google
Your analytics are also going to vary a lot between different platforms. You agency may be more successful on Facebook than on Google depending on how you’re posting. Facebook is a platform designed for sharing content. So if you’re looking for high CTR on your Facebook posts, you may not find the results that you are hoping for. People on Facebook are more likely to read the post, comment, or share than they are to click a link.
The first steps are to get comfortable with using website analytics and research the standards for insurance agencies. Once you get the hang of that, you can begin experimenting with Google AdWords, Facebook, and other online platforms to identify what works for your agency.