REDWOOD CITY, Calif.--(BUSINESS WIRE)--Rocket Fuel (NASDAQ:FUEL), a leading Programmatic Marketing Platform provider, today announced a two-part research study that shares key insights on the overall market trends in the auto insurance industry. The reports analyze consumer behaviors and offer practical advice on how auto insurance marketers can leverage a data-driven, digital marketing approach to grow their customer base and increase market share.
Key insights include:
- Spend on display advertising is 9.4 times more effective than TV
- Consumers who have become aware of their auto insurance provider through TV or digital ads increased by 50 percent over the last year
- One in four consumers requests a quote directly on the insurer’s website, up nine percent from 2014
“The impact of digital marketing is on the rise within the auto insurance industry as consumers, especially millennials, are shifting their paths to purchase from traditional channels to digital channels,” said Robert Jones, director of research and insights, Rocket Fuel. “Auto insurance marketers need to leverage data-driven, digital marketing strategies to reach prospective customers at the precise moments of greatest influence. In order to win mind share and ultimately drive ROI in this highly competitive market, they must also stay current on the most effective technology and data management strategies, and look to under-leveraged channels.”
Rocket Fuel’s two-part study focuses on:
- Part 1: Consumer research to understand the path to purchase for auto insurance, including the relationship between life stages and preferred insurance providers as well as the rise in digital advertising. The research reinforces the value of leveraging data - demographic, behavioral and contextual - to drive effective digital marketing campaigns.
- Part 2: Rocket Fuel’s annual brand awareness report highlights the leaders in the auto insurance industry, and the correlation between top-of-mind awareness and market share. Geico, for the third year in a row, is the leader in top-of-mind awareness among auto insurers. Rounding out the top four are State Farm, Allstate and Progressive. The report highlights the critical importance of awareness, as nearly half of all consumers request only one quote before making a purchasing decision.
To learn more and download the two-part study, visit: http://info.rocketfuel.com/Insurance-Path-to-Purchase.html
About Rocket Fuel
A leading Programmatic Marketing Platform provider, Rocket Fuel (NASDAQ:FUEL) offers brands, agencies, and platform partners managed services, as well as a SaaS-based Data Management Platform (DMP) and Demand Side Platform (DSP), to optimize performance, awareness, and lift across marketing objectives, channels and devices. By applying artificial intelligence at big data scale, Rocket Fuel’s Moment Scoring™ technology performs a real-time calculation of each ad opportunity based on a marketer’s goal to determine the likelihood a consumer will engage in a desired action. Moment Scoring goes beyond 1:1 marketing by learning to predict what marketing actions to take with a campaign at a precise moment in time, which results in a much more efficient use of marketing dollars. Rocket Fuel serves 96 of the Ad Age 100, three of the top five agency holding company trading desks, and partners with some of the world’s leading CRM platforms, marketing platforms and systems integrators. Headquartered in Redwood City, California, Rocket Fuel has more than 20 offices worldwide.