Regulatory changes are not the only thing that has affected the title insurance industry over the past few years. There’s been a lot of attention on how the title insurance industry markets itself. The Department of Financial Services has come out with guidelines indicating marketing expenses made to induce referrals of title insurance business are prohibited. To win more business you have to be in front of your target audience, but items like ‘entertainment expenses’ have had state regulators worried that these costs are unfairly passed on to the end customers hence increasing the premium amount they have to pay.
So are there other ways to reach out and interest prospects in your services, especially in this new ‘digital’ world? Title companies, especially small companies, need to pivot their strategy to more cost-effective marketing solutions.
Right from having effective email marketing campaigns all the way to remarketing, here are 5 effective digital marketing strategies to create an impact & grow your business:
1. Email Marketing Campaigns: This is one of the most cost-effective solutions and helps you reach your audience in the place they visit the most- their inbox! There’s a lot of data backing the benefits of email marketing campaigns (Check out this article on constant contact highlighting the benefits of email marketing campaigns). From having a larger reach to having a higher ROI, an effective email marketing campaign should be a priority when you decide your marketing strategy. There are plenty of great options for small businesses to get started and a simple google search will reveal plenty of email marketing tools like MailChimp, Constant Contact, GetResponse to name a few.
For every $1 spent, email marketing generates $38 in revenue!
2. Have a mobile friendly website: It is predicted by the end of 2019, mobile devices would account for 79% of all the web traffic. This statistic alone, should be enough to ring the alarm bells if you do not have a mobile friendly website. Of all the factors looked upon by Google mobile usability is the third most important factor while ranking your website. Having an unfriendly website can lead to a lower search ranking in google and lower your rankings, making it less likely for users to see your business. Click here to check if your website is mobile friendly.
Some of the key things to check to make your website mobile friendly are:
- Page speed
- Easy to read content
- Easy navigation
- Good user experience
- Content easy to locate
Of all the factors looked upon by Google mobile, usability is the third most important factor while ranking your website.
3. Leverage the power of social media: Social media is increasingly becoming one of the most important aspects of digital marketing. It plays a vital role as a networking and communication platform along with helping you increase your website traffic and enhancing your SEO rankings. Right from posting a series of stories giving your customers a behind the scene tour of your office all the way to hosting a quick Q&A session over live video streaming, the possibilities of social media marketing are endless.
4. Explore the possibilities of videos: Adding a product video on your landing page can increase conversions by 80%. Video marketing is one of the newest forms of marketing and does pay off. Studies show that 74% of users who watched a product explainer video subsequently did purchase the product. Using videos on your website helps you rank higher in search and in social media platforms. Read this article on digital marketing institute highlighting 5 reasons why video is crucial to your marketing strategy.
5. It’s time for Remarketing: Ever found a product on an e-commerce site or any other website, only to see that product advertised on your Facebook feed or when you watch a video on YouTube? That’s remarketing and it is one of the most effective and one of the most underutilized ways to stay on top of mind of your target audience. 96% of your audience will leave your website without making a purchase. Remarketing allows you to create custom messages to attract the visitors to revisit your website and complete the purchase or inquiry. With the average cost per acquisition from remarketing being significantly lower than regular search and display ads, it is high time to think about remarketing as an essential tool in your marketing strategy.
To know how our products & solutions can help you grow your business quickly, do reach out to us at email@example.com