Google urges insurers to tap YouTube for better customer connections

Google is urging insurers to use YouTube to build stronger connections with customers.

David Black, managing director of financial services at Google, told Insurance Times that using the platform could help insurers ”navigate a highly competitive market with success”.

For example, he said that insurers using YouTube ”are able to tell their stories with creative freedom with a multiformat approach”.

And he also explained that YouTube’s video reach campaigns allow insurers to reach 54% more customers and see up to 42% lower costs compared with buying standalone formats.

Black said: “Insurers of all sizes tell us that in order to navigate a highly competitive market with success, they need the ability to connect with future customers at scale and in a cost efficient way.

“YouTube has become a proven tool for them to do this across the full funnel, with artificial intelligence (AI) powered marketing tools and access to demographics of all ages across modern Britain.”

Business goals

Google teams also partner with insurers and price comparison websites to help them achieve business objectives.

Go Compare, for example, saw a 4.5 times stronger return on investment using YouTube with Google AI than TV.

Black noted that YouTube was “one of the biggest commercial platforms in the UK”, with 46 million adults watching each month.

Black said: “For insurers who are focused on performance related goals, video action campaigns enable insurers and price comparison websites to optimise towards a valuable onsite action, such as a completed lead form or expression of interest, at unprecedented scale.”