Insurance Agency Email Marketing And Multivariate TestingJacob
Email marketing from an insurance agency can and should be one of the most powerful lead generation tools in a marketing agent’s toolbox. And when it comes to insurance agency email marketing, multivariate testing offers a highly advantageous methodology for improving results, providing a better understanding of email campaign optimization and conversion efficiency. A / B split tests offer a simplistic way to understand multivariate tests. Split testing is an empirical approach that is used to determine the optimal conversion rates (click rates, for example) for an insurance website, landing page, banner ad, or email campaign. This article will focus on multivariate testing for email marketing campaigns.
Let’s say an insurance salesperson creates two versions of an email campaign (we’ll call them email versions A and B). The agency vendor wants to determine which of these versions has the most effective subject line. The split test works best if the emails are identical, except for one modification, which in this case is the subject line. The variations of the agency and broker email marketing campaign can be dramatic or subtle. Each subject line can be completely different, or a change of a word can be measured. Agencies can then measure the fundamentals of the campaign, differentiating the open rate and click-through rate to determine which insurance agency email marketing campaign was most effective.
For example, if campaign A yielded a 20% open rate with 10 clicks, and campaign B yielded a 25% open rate with 14 clicks, then the balance of the emails should be used by campaign B. What balance can you ask? Multivariate tests can use a small portion of your email marketing contact list. If the agency vendor used 10% for the A / B test mentioned above, the balance, or in this case the remaining 90%, can be used to send the top email, email version B. Top a It is often determined by the click-through rate, but can also include criteria such as webinar registrations, newsletter subscriptions, website traffic generation, etc.
Multivariate tests are similar to A / B tests, but can be used to test multiple iterations of email marketing from insurance agencies at the same time. A simple way to think about this is an A / B / C / D split test, with each email using a different subject line. If version D click results are twice as good as other emails, then the email balance can be sent using the email version of insurance agency D. Agency sellers can opt for a Statistically significant test sampling, or they can augment your test emails, ensuring they have sufficient output test volume to produce credible results.
Multivariate split testing enables agencies to optimize their insurance email marketing campaigns to ensure optimal effectiveness, from subject lines to calls to action and content density. Multivariate testing enables insurance marketers to continually measure and refine, and improve their insurance agency email marketing initiatives, to generate more insurance leads.