PetInsuranceQuotes.com uses Bing Ads to improve its ROI
Our return on investment grew 25% in one month with Bing Ads.
— Nick Braun, Founder, PetInsuranceQuotes.com
You’d think such an idea would take off like gangbusters, and it has, in many other places around the world. But in the United States, pet insurance is a relatively new concept. The first policy was only sold in 1982 by a veterinarian to TV star Lassie, apparently to protect her when saving Timmy in the well. Today, less than one percent of U.S. pet owners own a policy. They include Braun himself who used his own experience several years ago as the driving impetus to start his business.
At the time, Braun and his wife Melissa had a yellow lab mix dog named Beau. In researching policies, Braun noticed that there weren’t any easy ways to compare plans or learn about the subject matter. “You had to go to each individual site and compare policies on your own,” said Braun. “If you had questions there was no one there to answer them.”
Braun eventually settled on a policy, which proved invaluable when Beau got cancer. “You don't care about pet insurance in that moment,” said Braun. “But then you realize the freedom you have because every decision you make is only based on what’s best for Beau.”
Knowing there were many other pet owners out there in need of similar help, Braun started PetInsuranceQuotes.com in 2011. In retrospect, that was the easy part. The hard part was getting the word out on a Web-only business selling a product that most people don’t know about to an audience that doesn’t know his site exists.
When he crunched the numbers, he saw 10-percent conversion rates for banner ads on third-party networks versus a 40-percent conversion rate with Bing Ads. That made the choice easy. What hooked him even more were the tools that came with Bing Ads. It wasn’t so much that these were better tools than he was used to, as much as realizing that such sophisticated tools even existed.
Braun doesn’t consider himself a techy kind of guy in any sense of the word. At first, even the thought of using any analysis tools sounded like a daunting task. But then he remembered the advice he often gives to younger entrepreneurs. “I tell them there’s no excuse not to get out there and teach yourself, get good and gain a competitive edge,” said Braun.
One of the interesting things he discovered is the surprising stories that the numbers tell him. “We’ve learned about several missing pieces to our site,” said Braun. For example, long before mobile sites became common, his tracing of traffic led him to conclude that he needed to build a mobile-responsive site. He’s also adjusted bids in states where certain words test better and tinkered with mobile bids based on the conversion rates on different devices. By testing different ideas, he’s changed the look and feel of the site. “We’ve refined the message so that when you come to the site you know it's an independent comparison place and not an actual company,” said Braun.
Another interesting lesson was with negative keywords. It’s a resource provided by Bing Ads that he uses today to more accurately deliver the right audience to his site. If someone searches for well-being, vaccinations, routine care or dental cleaning with pet insurance, they won’t be directed to his site. That’s because pet insurance doesn’t cover those areas. The money he saves he redirects toward useful traffic that is looking for what his site offers. “The brand and landing page matter a lot but so does the quality of the traffic,” said Braun. “It improves our ROI.” Pet parents tend to be more affluent, highly educated and empty nesters. For Braun, he finds that the Bing audience matches exceedingly well with that demographic. He estimates his ROI grew to four times what he spends.
Over time it has become a backbone of our growth and stability in learning about the business.
— Nick Braun, founder, PetInsuranceQuotes.com
See a quick summary of how Bing Ads helped PetInsuranceQuotes.com increase traffic, quotes and return on investment.