Australian Home and Contents Insurance insights - MICROSOFT ADVERTISING INSIGHTS - Microsoft Advertising. Intelligent connections.
←
→
Page content transcription
If your browser does not render page correctly, please read the page content below
MICROSOFT ADVERTISING INSIGHTS Australian Home and Contents Insurance insights Microsoft Advertising. Intelligent connections.
Summary of findings
There are many Optimize your Rising premiums have
positive factors driving performance across the translated into an
growth in Australia’s different sub-categories increase in generics
Home and Contents and demographic groups and comparison
insurance (H&CI) by leveraging Microsoft queries as users shop
market, such as the low Advertising features. around more.
RBA (Reserve Bank of
Australia) cash rate.Industry findings RBA cash rate target vs new loan commitments ($bn)
By month
RBA Cash Rate New loan commitments, total housing (seasonally adjusted), Australia
1.6
35.0
The low cash rate introduced in 1.50%
response to the COVID-19 30.0
1.4
pandemic has seen a big surge in 1.2
the amount of new homes being 25.0
bought. 1
1.00%
20.0
This translates to an increase in 0.8
0.75%
Home & Contents policies being 15.0
taken out.
0.6
10.0
0.4
0.25% 5.0
0.2
0.10%
0
0.0
Data Source: ABS Lending Indicators March 2021, RBA Cash RateHome & Contents Insurance (H&CI) is showing strong growth in 2021,
with clicks up +18% YoY YTD
H&CI searches, clicks, and clicks YoY
by month
80%
Clicks YoY Searches Clicks
1.40
70%
1.20
60%
1.00
50%
0.80
40%
+42%
0.60
30%
0.40
20%
+23%
+17%
0.20 10%
+4% +9%
0.00 0%
Data Source: Microsoft internal data | Home & Contents Insurance | 2020 – 2021 | Search Volume | All DevicesIndustry findings Sydney median house and unit price % change in values
by month
House Prices Unit Prices
5.0%
This increase in demand for 4.3%
housing has caused a rise in house 4.0%
prices, which are making residential
properties, especially in the inner 3.0%
city, expensive for many. 2.1%
2.0%
As a result, apartment living has
become more common, which in 1.0%
turn is more focused towards strata
0.0%
and contents insurance.
-1.0%
-2.0%
Data Source: ABS Lending Indicators January 2021Click growth is driven by house only and landlord sub-categories
Align your bids and budgets proportionately amongst the sub-categories
H&CI sub-category indexed click volume
H&C marketplace click % split by month
by query category* 1.40
Combined
Combined
Home Only
Home only 1.30
1% Contents Only
Contents only
14% +21%
Landlord Landlord
21% Renters
1.20
Renters +18%
1.10
6%
1.00
Indexed to
Jan 2021
0.90
0.80
0.70
57%
0.60
Jan Feb Mar Apr May
Data Source: Microsoft internal data | Home & Contents Insurance | 2021 | Clicks | All DevicesSub-categories differ in appeal depending on age groups and genders
Leverage age and gender bid modifiers to maximise results across your product categories
Age group % clicks Male vs female % clicks
by query category by query category
Under 50 Over 50 Male Female
46% 56%
Combined Combined
54% 44%
46% 59%
Home Only Home Only
54% 41%
56% 47%
Contents Only Contents Only
44% 53%
51% 58%
Landlord Landlord
42%
49%
64% 55%
Renters Renters
36% 45%
Data Source: Microsoft internal data | Home & Contents Insurance | 2021 | Clicks | All DevicesIndustry findings
The severe natural disasters that have occurred in Australia over the
past few years have adversely affected the industry’s performance.
Home and contents insurance premiums in response to this higher risk
are now priced into the Australian Market e.g. following recent floods,
some parts of Queensland have risen by over 100%.
This rise in insurance premiums results in Australian’s spending more
time shopping around and comparing prices across the different
policies available.Rising premiums have led to a 24% increase in generic clicks this year
Focus your investment into generic queries, they drive 2 in every 3 clicks
Indexed H&CI generic/brand clicks, click YoY
By month
1.30 120%
Generics YoY
Brand YoY
1.20 100%
Generic
Brand
1.10 80%
1.00 60%
Indexed to
+48%
Jan 2021
0.90 40%
+33%
+29%
+22%
0.80 20%
+12%
+9% +8%
-5% +5%
+2%
0.70 0%
Data Source: Microsoft internal data | Home & Contents Insurance | 2020 – 2021 | Search Volume | All DevicesOur users are shopping around more, shown by Top generic queries with
increased click activity in comparison terms highest click uplift
(2021 YTD vs 2020)
Comparison queries
Indexed H&CI comparison clicks, click YoY
By month
Queries containing “best” +65%
1.40 120%
Comparison YoY Queries containing “comparison” +45%
Clicks +21% vs Jan
1.20 Comparison Queries containing “cheap” +20%
100%
Generic (excl Comparison)
Queries containing “compare” +15%
1.00
80%
Generic (excl comparison) queries
0.80
+70%
Combined queries +20%
60%
0.60
Home/house only +25%
40%
Contents only +5%
0.40 +39%
Landlord +30%
+30%
0.20 +23%
20%
Renters/apartment +15%
+10%
0.00 0%
Data Source: Microsoft internal data | Home loans | Australia | Mar 2020 – Mar 2021 | All DevicesBe prepared for increased competition during H2
Maintain your bids at competitive levels to retain mainline presence
Cost per clicks with 2020 seasonality
by month
$12.00 2.00
1.80
$10.00
$9.57 1.60
1.40
$8.00 $8.10 $7.90
$7.43 1.20
$6.96
$6.00 1.00
0.80
$4.00
0.60
0.40
$2.00
0.20
$- 0.00
Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec
2020 weighted CPC vs average CPC 2021
Data Source: Microsoft internal data | Home & Contents Insurance | 2020 – 2021 | Search Volume | All DeviceseCPC is now the default bid strategy on Microsoft Advertising
In a highly competitive market:
Calibrates bids for 1. Provide the system all the
each individual necessary signals for effective
Changes bids search auction (real
every few hours optimisation
Works time)
Portfolio level best when Campaign level
conversion 2. Ensure the same conversion
Signals limited to goals match Uses unique signals points setup on both
technology available to
provider Optimizes for Microsoft Advertising and
Microsoft
data pools efficiency
Advertising
your Bid Management
on search behavior Platform for efficiency
and user contextTop 50 brand and generic keywords – H&CI Insurance (May 2021) Consider these keywords when strategizing for the rest of the year Data Source: Microsoft internal data | Home and Contents Insurance | Top 50 keywords | May 2021 | All Devices
Key takeaways and actions
1. The search marketplace on Microsoft Advertising is showing a strong YoY growth in line with
the surging housing market demand.
2. Paid search space is getting more competitive in 2021 with CPCs poised to increase over the next
couple of months. Don’t miss out and ensure you’re bidding for mainline presence.
3. eCPC is now the default bid strategy on Microsoft Advertising. Make sure UET is implemented
and conversion goals are aligned on both Microsoft and your bid management platform to
optimize results.
4. Different products with Home and Contents Insurance resonate differently for different age
groups and genders. Optimize your bid modifiers based on your strategy to maximise results.
5. Rising insurance premiums over the last few years have pushed customers to spend more time
comparing prices and offers. Refer to the missing keywords and incorporate those in addition to
your product and brand keyword set ensure full keyword coverage.To get actionable data, insights and best practices to help make decisions and grow your business, visit MicrosoftAdvertising.com/Insights
You can also read
