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