Case Study: How ORN Title Insurance used Animated videos to drive 200x more traffic!
Insurance is boring! No, not for you insurance experts! But, to the general public, insurance with its excessive jargons and page after page of data tables enumerating the risk and cost of every policy is boring and terrifying. It is like being back in the dreaded high school calculus class where the teacher might as well have been teaching in Greek or Latin and it would not have made any difference to you!
The challenges of Insurance Marketing:
Now, as an Insurance marketer how do you overcome this barrier of boredom to get your point across? How are you going to continuously engage and communicate with your customers to increase brand recognition and value?
These questions are even more critical now. In addition to the never-ending social and regulatory changes, the marketplace is changing rapidly and drastically!
With added pressure to keep updating insurance offerings regularly, marketing them to your consumers become much more challenging. So, what is the solution?
In this era, if you don’t have an online presence, you simply do not exist. Digital Marketing should be the fundamental weapon in your insurance marketing arsenal to gain customers and revenue. But it is also very important to stay relevant to the trends. So what is the current trend? Videos!
Video Marketing is the best option to tackle these problems.Time for some fun facts now:
- The brain processes videos 60,000 times faster than text
- A video is worth 1.8 million words
- A single video has the reach of 100 marketing executives
There is no doubt that video is the best type of content you can bet on now!
Now the question arises, do we go with live action or animated videos. Let's see the story of one of the leading insurance companies in the United States.
Old Republic Title Insurance
Old Republic Title Insurance is one of the largest title insurance groups in the United States. To mark their online presence, they created their Youtube channel and posted their first live action video to explain the importance of title insurance.
Though this video explained about their company and its importance, they did not get a good response.
After Five months, the same content was posted online but with a small tweak! Here is the video:
They just replaced the Live Action video with bubbly 2D talking cartoons and people just seemed to love it! While the Live action video just garnered 434 views, the animated video was able to rake in 75,663 views. That’s a whopping 200 fold increase! And most importantly, Insurance for a change stopped being boring!
Animated Video v/s Live Action Video
So should we go with live action or animated videos?
Well, the decision is still dependent on the type of content that needs to be communicated.
Deloitte, in the Insurance Outlook 2017 says, “Nimble should be the new normal” meaning it’s important for insurance companies to be agile in their strategies to cope up with the drastically changing market.
Animated videos would rightly fit into this strategy because they are:
- Easy to update, hence perfect for agile marketing
- Easy to customize and personalize
- Can defy the laws of nature
- And did I say, animated videos are FUN!
Now, don’t trust me! Trust Google:
As you can see the top results for the keyword “insurance videos” are all animated videos!
Creating Animated videos:
There are plenty of commercial studios out there which can create awesome Animated videos for you. But, this requires a huge investment. Wondering how much?
Animated videos produced in studios can roughly cost around $5000 - $35000 per minute and can even go up based on the length of the video and custom specifications. Though you get high-quality videos, it is really time-consuming when you need to constantly update your content.
How about creating animated videos in-house? Yes, that’s right, you don’t have to depend on an external agency! It is much simpler and even cost-effective! Just drag and drop animations to create high quality animated videos!
Want to jump on to the animation bandwagon as well? Click here to see how we have made making your own animated videos shockingly easy!