InsureMe Notes the Changing Times in the Insurance Industry
By Maribeth Neelis
DENVER - January 16, 2007 - An elaborate car chase, a human snowball, offended cavemen. Watch TV for five minutes and it's apparent the once stodgy insurance industry has evolved. ??But it's not just the avant-garde commercials that reveal a changing business.??
U.S. online ad spending is expected to grow nearly 13 percent in 2007. Unlike high-priced television spots peppered with celebrity cameos and special effects, internet advertising is still a relatively inexpensive way for smaller carriers and independent agents to compete. And many are jumping aboard the online-marketing bandwagon.
InsureMe, a lead referral service helping connect agents with consumers shopping for insurance, has responded to the online advertising boom. With a still-expanding search-marketing department and the inception of the agent and affiliate blogs, InsureMe has more online presence than ever.
Although heavy-hitters can afford to spend millions on television ads, the internet is a means for smaller companies to reach their audience without losing their collective shirts-long tail economics at work.
Most companies who advertise on the Web use more traditional methods, such as paid search, display advertising (static, banner and video ads) and classified ads in online media. As the medium continues to develop though, new opportunities arise that just recently seemed the stuff of sci-fi movies.
One example is Second Life, a virtual, 3-D world where like-minded people meet inside a global environment. It is akin to a life-like video game in which you can buy and sell goods, build a home, work and play.??In 2006, Adidas thought so much of this approach to marketing they purchased an entire island in the digital universe.
While InsureMe isn't necessarily advocating taking up a Second Life residence, interest in this new advertising channel indicates how the internet might change the insurance industry.
One thing is clear; the average shopper is fairly tech savvy. So the way companies market must change to meet the needs of a new generation of consumers. Additionally, in the past, a smaller marketing budget meant less visibility. Now with a little ingenuity, small insurance carriers and independent agents can compete with larger companies.
About InsureMe
InsureMe, an Englewood, Colorado-based company, links agents nationwide with people shopping for insurance. Since 1993, InsureMe has helped millions of people find insurance coverage. For more information about InsureMe, visit www.InsureMe.com.?? Check out the InsureMeBlog.com for tips for agents, affiliates or simply for digital entertainment.
