path to purchase insurance...where you first begin to think about acquiring insurance, but you...
TRANSCRIPT
Path to Purchase – Insurance
Sanjay Gosalia
Head of Finance – Google
Intentnoun
a usually clear or planned intention
Where a majority of your research is
complete. You may have a fairly good
idea of what product you want to go with,
and will start visiting branches to discuss
options with someone in person, or go
online and apply for the product.
PURCHASINGRESEARCHINGTHINKING
Where you first begin to think about
acquiring insurance, but you haven’t yet
started to do any research.
Where you take on a more active role by
researching and consulting a variety of
sources.
3 Stages on the Path to Purchase
PATH TO PURCHASE
9 Days
3Days
2Days
5
Think(9 days)
Life
Triggers
65%
Product
Triggers
95%
7
(Q1) What prompted you to purchase/acquire your most recent ... ? (Select all that apply) (Q2) Which of the following life events prompted you to purchase/acquire your most recent ... ? (Select all that apply) Base: Overall (n=479)
Top 5 Triggers
PATH TO PURCHASE - THINKING
8
Canadians consume 23% of their video content
exclusively online
Source: Google Online Video Perceptions Study, February-March 2015, Comscore Inc
How do you you typically watch video content?
Total sample + screened, n=7,016
39%
TV+Online
-13% since
2013
31% TV Only
-11% since 2013
23% Online
+44% since 2013
Source: Cisco
By 2017,
video will count for 70% of
all consumer internet traffic.
Reach users
similar to your
customersVisit blog
discussing
electric cars
Car safety site
for electric cars
Revisit manufacturer
site to read pricing
options
Visits
site to see
options
for car
financing
Click ad for hybrid
to see interior on
manufacturer site
Consumer
research
Product or
service listings
Content with
strong conversion
history to related
segment
Recency and
frequency of
visits
Views and clicks
on related ads
Did the click result in a conv.
Pages visited
Ads clicked
Landing pages of ads clicked
Other user info (i.e. geo, device,
browser, etc)
Apps installed
Long-term user interests
Intent under the hood
PATH TO PURCHASE
Proprietary + Confidential
Source: Google Finance Study, July 2015, Ipsos 15
Proprietary + Confidential
Source: Google Finance Study, July 2015, Ipsos 16
Research(3 days)
(Q9) Which of the following sources, if any, did you use to gather information about your most recent purchase/acquisition of ... during the ‘researching stage', and which was most influential? (Select all that apply)Base: Overall (n=479)
Sources Used: Digital
PATH TO PURCHASE - RESEARCHING
36%*Growing at 12% YoY
Click to Call
Multiple Product
Options
(Q10) Now we would like to know how each of the following sources helped you as you researched and gathered information about your most recent purchase/acquisition of .... Please indicate the statements you feel apply to each source. (Select all that apply for each source)Base: Used Internet (n=115)
Role of Source - Internet
PATH TO PURCHASE - RESEARCHING
Purchase(2 days)
(Q36) Which of the following would you prefer when it comes to the experience with a financial services provider through the entire purchase/acquisition process? (Select one)Base: Overall (n=479)
Do little to no research myself, FS provider guides
/informs me
I do some research and the FS provider offers some
guidance/info
Do all research myself, & make the acquisition myself/ FS provider helps to write up the application document
Hand-Holder
Facilitator
Self Serve
Needs of Consumers from Insurers
PATH TO PURCHASE - PURCHASING
Speed Usability
Features
that
Matter
3 Pillars for Optimal Mobile UX
PATH TO PURCHASE - PURCHASING
Page Load Speed
Forrester Consulting on behalf of Akamai Technologies, n=1,048 U.S. online consumers, September 2014
57%of consumers will wait no more than three seconds
before abandoning a mobile website
Most Annoying Thing EVER
PATH TO PURCHASE - PURCHASING
The Power of the Thumb
PATH TO PURCHASE - PURCHASING
Be Transparent: Progress Bar
PATH TO PURCHASE - PURCHASING
Pre-Populate & Predict
PATH TO PURCHASE - PURCHASING
H3C 2C7
Use the Native Features of Mobile
PATH TO PURCHASE - PURCHASING
Know your Customer
PATH TO PURCHASE - PURCHASING
Simplify Your Offer
PATH TO PURCHASE - PURCHASING
Create Seamless Experiences
PATH TO PURCHASE - PURCHASING
Takeaways
1) Build awareness with consumers in
the Moments that Matter
2) Help consumers research, learn
and simplify their decision process
3) Close the lead with exceptional
Mobile UX