This blog shares tips for success in health insurance programmatic advertising that will help your insurance firm retain existing policyholders and get new clients.
One of the greatest challenges in health insurance advertising is reaching high-intent prospects. In online marketing, 75% of consumers use different platforms before purchasing. That means your marketing must be diverse enough for various channels. And what better way to approach this than with programmatic advertising?
Simply put, programmatic advertising is the automated buying and selling of ad inventories. Compared to traditional methods, programmatic advertising streamlines the ad placement process. This gives your insurance firm a more efficient way to attract new policyholders across different marketing platforms. One of the top benefits of programmatic ads is they allow you to send tailored messages to your target audience at optimal times.
Keep reading to uncover our tips for making your programmatic health insurance advertising more impactful!
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How Programmatic Advertising Can Benefit Your Health Insurance Marketing
Efficiency makes all the difference in the online marketing arena. By using algorithms and automated systems, programmatic advertising offers an edge that traditional marketing can’t match. This begs the question: how can your health insurance ads make the most of this model?
Let’s start with precision targeting. The programmatic ad model allows your health insurance advertising plans to leverage advanced data analytics. With that, it’s easier to segment your audience based on age, location, online behavior, and even health conditions. Granular targeting helps in increasing your odds of engagements and conversions.
Personalization takes this targeting method up a notch. For instance, you’ve determined that most of your prospects are either young families or relatives of seniors. You can then create ads that these people can relate to. For the former, you can tailor your ad copies to highlight family-friendly plans. Meanwhile, for the latter, you can showcase Medicare-focused ads to cater to senior prospects. That allows your health insurance ads to build stronger connections.
Finally, we have cost efficiency. Health insurance ads can reach $50 per click, making them one of the most expensive categories for Google and Bing ads. But not to worry; that isn’t always the case. You can overcome this with constant optimization. Programmatic advertising allows you to track your campaign’s performance with accuracy. As a result, you’ll have less wasted ad spend, which means better ROI!
With detailed data analytics, programmatic advertising can also exclude audiences unlikely to convert.
Impact of Real-Time Bidding on Health Insurance Advertising
Have you ever tried asking a marketer what makes programmatic advertising stand out? Chances are, they’ll mention real-time bidding (RTB).
RTB is an automated auction within milliseconds between a user clicks on a webpage and when the page loads. This happens when a website publisher offers the ad impression for auction in an ad exchange. Using demand-side platforms (DSPs), advertisers like you can then place your bids on that impression. The highest bid then gets to have their ad appear on the website visitor’s screen.
Remember, these all happen in real time, allowing you to target your ads with top precision. But that’s just a glimpse of the whole picture. RTB also improves your health insurance advertising by allowing you to bid on impressions matching your ideal client profile. That can be people who are trying to find health coverage or those from a particular age group. This paves the way for a more cost-effective programmatic strategy since you will only pay for valuable impressions. It is one of the many ways to reach high-value prospects efficiently.
Common Hurdles in Programmatic Advertising
As with any technology, programmatic advertising brings its own set of struggles. Think of these challenges as barriers that separate amateur advertisers from the winning ones. If you’re worried your current methods won’t make the cut, you’re in luck! Based on Zero Company’s extensive experience as a programmatic agency, here are some of the most common challenges in programmatic advertising and practical ways you can overcome them:
Ad Fraud
In 2022, the total costs for ad fraud damages reached $81 billion. And with more intelligent bots comes a higher risk of falling for fraud.
One common fraud is having fake ad impressions where your ads are reportedly shown to users when in reality, they weren’t seen by actual humans. Another is click fraud. This is when automated systems repeatedly click on your ads to exhaust your budget.
It’s easy to understand the serious impact of ad fraud. To prevent your company from taking a loss, we recommend that you equip your health insurance advertising plan with a multi-layered strategy. This includes partnering only with trustworthy ad networks and DSPs. You should also invest in advanced verification tools that filter out fake website traffic.
Finally, analyze your programmatic advertising campaign’s data regularly. If you’ve seen spikes in impressions and other irregularities that don’t align with typical user behavior, it’s best to treat them with suspicion. That way, you can protect not only your company’s integrity but also your marketing budget.
Data Privacy Concerns
Precise targeting has made many Internet users concerned about how the algorithm handles their data. That’s why regulations like the CCPA in California and Europe’s GDPR have been placed as guidelines for proper data handling. While this is indeed a step in the right direction, it can also pose a challenge for digital marketers like you. Finding the right balance between compliance and using detailed user data in programmatic advertising is never easy to achieve.
To rise above the challenge, start by installing data protection measures. Adding a statement page to your website also helps to remain transparent about data usage. Doing these helps build trust among your target audience. But, if compliance is your concern, the best way to approach this issue is by using advanced data management platforms (DMPs). This technology helps you avoid legal repercussions by allowing you to manage data in a more compliant manner.
Ad Blockers
Everyone wants to surf the internet with little to no annoyance. For that reason, it doesn’t come as a surprise how more and more people have been installing ad blockers. For health insurance advertising, that means your ads have lesser potential to reach prospects. To combat this, focus on producing non-intrusive advertisements that provide a rich user experience.
You may also explore alternative health insurance advertising options. One example is native advertising, which integrates your ads within the website’s content. By investing in premium ad placements, you also help lessen the impact of ad blockers.
The Importance of AI and Machine Learning
Success in programmatic advertising also depends on how well you handle data. With AI, you can improve campaign performance by optimizing aspects of ad buying. Machine learning algorithms can analyze vast data sets to determine trends that can improve targeting strategies.
Apart from that, AI also paves the way for more personalized health insurance advertising. Through a feature called dynamic creative optimization (DCO), tailoring content to specific prospects becomes automatic. This helps your ads convert better while making your ad-making process more efficient.
AI-powered tools are also available to help you observe and adjust your bids in real-time. But, one of the most standout features is predictive analysis. Powered by machine learning, it can forecast future trends and behaviors to help you make informed decisions. This means you can identify which types of content will resonate best with your audience. You can also determine the most cost-effective channels for future campaigns. As a result, you strengthen the impact of your health insurance advertising practices.
AI can predict the most effective budget allocation in real-time, allowing you to dynamically shift your budget to higher-performing channels and ads.
How Our Programmatic Agency Can Boost Your Health Insurance Advertising
For health insurance companies, staying ahead requires more than traditional advertising methods. But the truth is, programmatic advertising is one of the most complex ad models to manage. That’s when partnering with a programmatic marketing specialist becomes a game-changing move.
Zero Company is home to experts who can steer your health insurance advertising plans to success. For over 20 years, we’ve helped over 2,500 companies to reach their digital marketing goals. We have competent digital marketing professionals to help guide you in optimizing your programmatic advertising campaigns. But we go a step further by incorporating empathy in advertising: always putting your target audience as top priority and communicating genuine business empathy.
Book a free consultation with our team today to learn how we can help with your health insurance programmatic advertising campaigns!
