Pet insurance improves the ability of pet parents to pay for their companion animals’ healthcare needs. However, too many consumers don’t know about the benefits of insurance for their pets. In fact, some don’t even know that an entire industry to provide pet insurance exists. Marketing for this industry must overcome these challenges to increase site visitors and conversions.
Pets as Family
The number of households that own pets in the United States has increased over the years. In 1988, only 56% of American homes had a pet. In a 2019-2020 survey from the American Pet Products Association, that percentage increased to 67%.
And statistics show that pet parents are willing to spend a lot of money on their pets. In fact, in 2019, pet owners spent $95.7 billion on their pets. Of that amount, almost a third, $29.3 billion, went to veterinary care. This spending on healthcare for their pets may drive the increasing number of pets covered by insurance.
The Rise of the Pet Insurance Industry
Since 2015, the pet insurance industry in the United States has seen an increase each year of 15.8% of insured companion animals, according to the North American Pet Health Insurance Association (NAPHIA). In 2019, this equaled 2,517,122 pets.
The worth of pet insurance continues at an exponential rate across the industry. In fact, as of 2017, the industry had a worth of $1 billion with an expected doubling by 2022.
This growth for the pet insurance industry means that individual companies have a lot of pet parents looking for coverage for their pets and a growing number of options to meet those needs. To draw people to your site, you need a comprehensive marketing strategy that advertises where pet parents frequent.
Increase Conversion Rates of Pet Parents
While you can put ads between cute cat videos online to draw people to your site, you will need to keep them there and ensure that they complete forms. Offer informative information that will prove useful for site visitors, and encourage them to fill out your form to get more information, such as from newsletters or direct contacts.
If visitors don’t complete the form, you don’t have to give them up as lost connections. With automated remarketing, each abandoned form triggers and email to the visitor. This email gives them a second chance to return to your site and finish filling out the information. By increasing your conversion rate through automated remarketing, you will have more people who have shown a direct interest in your pet insurance to sell to.
Automated Remarketing to Improve Pet Insurance Industry Marketing Investment
Automated remarketing serves as an adjunct to your existing marketing practices. However, integrating this into your site will improve conversion rates and help you to get more of a return on every marketing dollar you invest in. In fact, following a 45-day test of Capture’s automated remarketing technology, the businesses that used this system saw $1.7 million in additional revenue and 25,815 new customers.
If you want to see how well Capture can help your pet insurance industry website, contact us for business-level packages that include ad integration, monitoring multiple forms, and more.
Capture® is a MOV•ology™ Company that provides real-time automated web form abandonment solutions to increase ROI using our Patented Technology Platform.
(US Patents 9,280,531, 9,286,282, 9,589,281 & 10,042,838).
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