TV is traditional media. But TV advertising is NOT dead — you can use it to generate tons of inbound calls and grow your insurance business effectively. Let’s go over the basics.
First, we’ll break down the three main categories of TV buying. There’s more than one way to buy.
1. Cable and Satellite
If you have a lower budget, cable TV ads can be a good fit for you. Here, you’re paying per spot. You’re essentially paying for a higher frequency with a smaller audience in your cable buy.
In other words, your cable and satellite market penetration is smaller than your broadcast audience as a whole. But your cost per thousand is sometimes higher with cable. Cable is good for these reasons:
- Highly targeted
- Budget-friendly entry point
- You can buy by the county — useful for certain Medicare offers
There are different subsections of broadcast TV. You’ve got ABC, NBC, CBS, and FOX affiliates in every market. So you’ll want to look at your particular market and the audience that’s available.
Then, broadcast TV is broken down into news, sports, daytime TV, and primetime TV. So each of the different sections have different advantages and disadvantages. It’s different in each market.
However, if you’re looking for Medicare, we recommend buying daytime TV and morning news instead of evening news because there’s less demand — meaning your cost per thousand and cost per spot will be less. Plus, the turning 65+ market is paying attention to that type of TV more than others.
Note: Cable and broadcast are casting a much wider net, giving you generic examples of who is probably watching.
3. OTT (Over the Top)
This is essentially all streaming services combined, including Hulu, Pluto.TV, etc. The biggest advantage of OTT is that you can target by zip code and target a specific audience down to the turning 64 crowd. You pay for that precise targeting, but it’s very flexible. You can move it up and down and target those individuals on the platform.
Another advantage of OTT? The ad won’t run unless you have a particular strategy that you’re trying to target and it gives you the overall inventory of impressions. So if you wanted to reach a certain audience (and buy all the T65 audience), you’d have a number that would get the max impression share which is a unique thing.
Depending on your budget, OTT can be a fantastic way to get the reach that you want.
How it Works
You want to work with an agency for the same reason that your clients want to work with you when they shop for insurance. We know how to negotiate and what to push back on.
The best part? You don’t pay us as a digital marketing agency to place the media for you.
We initiate the conversation based on your budget and needs to the TV station. Then, they bill us, and pay us 15% out of what they normall0y would’ve paid a sales rep. So, there’s really NO COST to you to place your TV ads through us. And we can place them anywhere in the country.
There’s more than one way to buy TV. Before you buy, do two things:
- Pick your budget: should be a minimum of $1,000 per month. We recommend about $3,000 per month or $100 per day in larger markets.
- Understand your market: Is it Medicare, term, or whole life insurance? U65 health?
Once we understand your budget and market, we can get rates and pull your cost per thousand and cost per spot.
There’s no reason to go to a direct station. You’ll pay the rate card price as opposed to us negotiating on your behalf. Specifically, we can help with the:
- Connecting all the dots
Digital Adds Fuel to the Fire
Digital marketing strategies can supplement the traditional.
For example, if we’re doing TV ads, we can have a landing page that talks more about the TV campaign and have that landing page be an educational video on a particular offer — leading users to your site. You’ll see a spike in traffic during your TV commercials. So, being able to connect the dots can have a huge impact on your bottom line.
Stay tuned for more in-depth videos on TV advertising for insurance agents. If you have any questions about TV, give us a call at (833) 402-4368.