A/B testing is the process of comparing two different versions of a webpage against each other in order to determine which one produces the best results, depending on the conversion goal of that page.
When running an A/B test, you take the webpage that you’d like to test and modify part(s) of the page to create a second variation of the same page. The two variations (original or ‘control’ version vs the variation) of the page are shown to a percentage of visitors at random, meaning we can then determine whether the changes made had a positive, negative or no effect on conversion rate.
The changes you make to your test page can be as simple as tweaking a headline, a call to action, or the colour of a button, to more significant overall design changes.
Why should insurance companies A/B test?
A/B testing allows insurance companies to continually improve the user experience they offer their website visitors, in order to eventually increase conversion rate and the effectiveness of any marketing campaigns.
A/B testing collects data on user behaviour, allowing insurance companies to learn more about their customers – does changing a certain element of a page yield better results? How does a different call to action impact user behaviour? Rather than basing webpage changes on opinion, A/B testing allows insurance companies to learn about visitor behaviour and make decisions based on evidence from real data.
For companies investing in paid search, insurance can be an incredibly competitive market, with clicks for insurance keywords often costing upwards of £10 per click. In such an expensive marketplace, it is crucial for insurance companies to ensure their campaigns are as effective as possible. A/B testing can help to drastically improve this by increasing landing page conversion rate, resulting in a lower cost per quote, and ultimately a better return on investment from paid campaigns.
Competition within insurance is fierce, with companies often competing against huge household names, including aggregator sites such as Moneysupermarket, Compare the Market and Confused. For smaller brands trying to make an impact in the insurance niche, it can be incredibly difficult when up against such big players.
Such competition makes A/B testing even more important to insurance companies. How can your insurance brand stand out amongst the rest? By providing a quality, seamless user experience! A/B testing can help you to learn user behaviour in order to ensure you’re providing the best possible experience to your users, making you stand out in a crowded, competitive marketplace.
How important is A/B testing to insurance marketing?
A/B testing is powerful and valuable for any insurance company. Even a small uplift in driving clicks to a ‘quote’ page can have huge results. If you can get more traffic into your quote engine, even if the end quote to purchase conversion rate remains the same, the number of quotes will still increase.
Once users are in the quote engine, your insurance company can then identify which part(s) of the quote journey users are dropping off at and begin to use A/B testing to improve each stage of the journey, in order to ultimately improve the number of quotes completed.
If your insurance company wants to boost the number of quotes and increase sales of policies, you must make decisions backed by data. Guesswork (or not testing at all!) in such a competitive marketplace will put your brand at a disadvantage, particularly when you can almost guarantee your competitors are constantly testing and evolving their landing pages.
The results of your tests offer a black and white answer as to what resonates with your audience. Knowing what works and how to communicate with your target audience is invaluable, so what are you waiting for? Start A/B testing!