Insurance Industry
Case 1: Improving Lead Quality Based on Campaign Data
Situation
A company generates leads for insurance companies via Google search ads.
Insurance types: Life Insurance, Health Insurance and Equity Release.
The lead generation company had an agreement to submit certain number of leads during working hours when a sales person from the insurance company can contact a potential customer right after the lead submission. The lead generation company was given a chance to generate leads on weekends. Lead to sales conversion was much lower for the leads generated on the weekends compared to the leads generated during the working day.
Task
Improve lead quality (lead-to-sale conversion rate) for the leads generated during the weekend.
Action
I analysed lead-to-sale conversion rates for different hours of the day. The data analysis revealed an interesting trend. Leads generated during certain hours had a decent volume and showed better conversion rates. I adjusted the schedule for the search campaigns to focus on the times that generated leads with better quality.
Result
Lead quality (lead to sale conversion rate) was improved by 40%.