Affiliate Marketing potential in non-life insurance helps businesses improve online competition

Mar 16, 2024

In the article “Affiliate Marketing Potential in Non-Life Insurance to Enhance Competition in Online Scale” QixTech will share about how to apply affiliate marketing in the insurance industry. Qixtech will focus on this strategy and will not mention the limitations of the strategy of selling offline through agents.

1. Introducing affiliate marketing and the importance of the non-life insurance industry
Affiliate marketing is a business model in which individuals or organizations (affiliate partners) advertise and market the products or services of sellers (insurance businesses) through through online channels such as websites, blogs, social networks and emails. Affiliate partners receive a commission or percentage of revenue from each transaction they generated through special links or discount codes.

In the non-life insurance industry, affiliate marketing is becoming an important factor to enhance competition and expand online scale. With the rise of the online business market, using affiliate marketing can bring many benefits to insurance businesses, from generating new traffic to optimizing marketing strategies.

2. Advantages of affiliate marketing in non-life insurance
Affiliate marketing is becoming increasingly popular and beneficial in the non-life insurance industry, bringing many important advantages to businesses. QixTech shares some key advantages of using affiliate marketing in the field of non-life insurance:

Expand your marketing network: Affiliate marketing allows insurance businesses to reach a large target audience that they may not have been able to reach before. Thanks to affiliate partners who have a wide network and influence in the online field, businesses have the ability to reach potential customers from all over the world.
Cost-effective marketing: One of the most important advantages of affiliate marketing is the flexibility in costs. Businesses only have to pay commissions or percentages of revenue to affiliate partners when there are successful transactions, helping to optimize marketing budgets and ensure high efficiency.
Building trustworthy relationships: Cooperating with reputable and senior affiliate partners in the insurance industry helps build trustworthy relationships with potential customers. Marketing through others can create trust and credibility, which helps increase conversions.
Focus on performance: Affiliate marketing tracking and reporting tools allow businesses to track and measure the performance of each affiliate partner. This helps to clearly identify which marketing channels and customers deliver the best results, thereby optimizing your marketing strategy.
Diversify marketing channels: Affiliate marketing allows businesses to use many different marketing channels, from websites and blogs to social networks and email. This helps diversify strategies and reach customers in many different forms.
Increase conversion: With support from affiliate partners, businesses have the ability to increase transaction conversion. Marketing through reputable and influential sources can motivate consumers to make purchasing decisions.
3. Illustrative case of implementing affiliate marketing in the insurance industry
A health insurance company called “HealthGuard” decided to expand its online presence and increase its marketing through an affiliate marketing campaign. To do this, they sought out and partnered with a number of reputable healthcare bloggers and content creators on social media and the web. One of HealthGuard’s main affiliate partners is “HealthyLife Blog” a website specializing in health care, healthy lifestyle and how to maintain good health. HealthyLife Blog has thousands of readers who are passionate about health care and are always looking for information about suitable health insurance.

In partnership, HealthGuard provides HealthyLife Blog with detailed information about their family health insurance products, along with exclusive promotions exclusively for the site’s readers. HealthyLife Blog creates relevant content, including articles on the importance of having reliable health insurance and why HealthGuard products are a good choice.

In articles and videos on the HealthyLife Blog website and YouTube channel, they share real-life stories of people who have benefited from having family health insurance, such as help paying their premiums. Unwanted medical care after a sudden accident. When a HealthyLife Blog reader purchases family health insurance through a special link provided by HealthGuard, HealthyLife Blog will receive a percentage commission from the premium. This motivates them to promote HealthGuard products actively and generate interest from readers.

As a result, this affiliate marketing campaign helped HealthGuard increase its online scale and at the same time build a trusted relationship with its target audience. Thanks to the support and advice of reputable affiliate partners such as HealthyLife Blog, the insurance company has succeeded in creating an effective marketing channel, diversifying its customer outreach strategy and attracting customers. interest from readers passionate about healthcare.

4. Build an effective affiliate marketing program
Step 1: Understand your target audience
To understand the target audience, insurance companies first need to conduct market research to gain a deeper understanding of the needs and interests of the target audience. Surveying customers and collecting specific information will help determine the deciding factors when customers choose insurance products. Analyze competitors to know the strengths and weaknesses of family health insurance products compared to other competitors. This helps the company find ways to make insurance products more prominent and attractive.

Identifying the psychological characteristics of the target audience such as concerns about family finances and health concerns, the company can create relevant and convincing messages. It is necessary to focus on the unique benefits that the product brings, such as broad protection coverage, preferential medical services or flexibility in choosing insurance packages. Finally, building diverse personas helps you better understand the different characteristics of your target audience, thereby creating diverse and relevant content and campaigns.

By carefully following the steps in step 1, the insurance company will have a solid foundation to build an accurate, effective affiliate marketing strategy and bring the best results for its campaign.

Step 2: Identify affiliate partners
Insurance companies need to conduct thorough research on the affiliate marketing industry to understand the potential sources of affiliate audiences. Learn about popular and trusted affiliate networks in the home health insurance industry. Next, identify and search for websites, blogs, or online communities that specialize in family, health, and family life. Important factors to evaluate an affiliate partner’s overall profile include monthly traffic, customer interaction, relevant content, and reputation.

Once affiliate partners have been identified, the insurance company will contact them and create a targeted relationship. During the work process, the insurance company needs to get to the heart of the work goal such as introducing the affiliate program and providing detailed information about the product, benefits and commission levels. By providing ongoing support, engaging content, and maintaining regular product and campaign updates is a good way to create long-term relationships with affiliate partners.

Step 3: Create an attractive affiliate program
To create an attractive affiliate program, an important factor is to design a reasonable and attractive commission structure system for affiliate partners. For example, if you are implementing a program for a family health insurance product for people aged 30 to 45 years old. You can choose between a fixed commission or a percentage commission from the product value. With a product value of 10 million VND and a profit per transaction of 20% (2 million VND), you can apply the following structures:

Fixed commission: Pay a fixed amount for each product sale. For example, you choose to pay 500,000 VND for each sale transaction. This can motivate partners to work hard for more deals.

Percentage commission: Build commission based on a percentage from the product value. For example, you set up a 10% commission for each transaction. With a product value of 10 million VND, partners will receive 1 million VND in commission for each successful transaction.

Additionally, you can also set up commissions that increase according to your partners’ performance to encourage them to work harder. For example, commission levels can be determined as follows:

Level 1: 8% commission for first transaction.
Level 2: 10% commission for transactions 2 to 5.
Level 3: 12% commission for transactions from 6 to 10.
Level 4: 15% commission for transactions of 11 or more.
Building a flexible and reasonable commission structure along with creating attractive incentives will help attract and stimulate partners to participate in your program, while creating competition and efficiency for your affiliate strategy. marketing.

Step 4: Build attractive content and provide support tools
To support affiliate partners in sharing information about the benefits of family health and safety insurance, insurance companies can provide diverse content support tools such as infographics and product introduction videos. , persuasive article. In particular, the content needs to be analyzed, compared and explained about the benefits of family health insurance for people aged 30-45 years old who are the target audience. Creating a comparison table will visualize important aspects of the product, making it easy for readers to see the differences

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