DELVE Deeper: Conversion Probability

May 10, 2021

Explore the ways Conversion Probability benefits insurance marketers looking to refine ad spend and enhance conversion.

This is the fifth post in our Delve Deeper: Insurance Marketing series, sharing tools to help insurance providers identify their most profitable audience segments, increase their marketing ROI, and drive conversion and revenue growth.

Conversion Probability uses historical performance data such as location and device used to enable the informed shifting of marketing spend from low value prospects to high value prospects. It generates accurate conversion predictions—how likely it is for a prospect to become a customer—based on previous conversions, quantifying and linking that data to ad and site traffic behaviors.

The technique uses machine learning to identify what makes a prospect a good candidate for conversion, and helps users find similar prospects and react to them to them in real time. It’s been two years since Google added Conversion Probability to its Google Analytics platform for retargeting efforts.

Use data used in the analysis process can include the day and time of conversion, the type of browser (mobile or desktop) used, the number of visits a customer made before their purchase, how that user came into the site—if they were brought there by a specific paid search term or display ad—and even where they saw the ad on the page or site. 

Why is this important? These insights can help you improve media targeting so that more ads convert. By avoiding audiences that are unlikely to convert, you save money and stretch your media budget even further. You can also improve your conversion performance metrics to demonstrate spend efficiency and build trust with senior management.

In our next article in this series, we’ll DELVE deeper into our next marketing tactic: Attribution Modeling.

Ready to take your ads, and your business, to the next level? Get in touch with the DELVE team today.

Related Insights

Meet the Team: Jill Stelter

Title: Senior Recruiter What are your job responsibilities?I recruit for the organization. I assist our corporate office in the recruitment process—posting jobs, sourcing candidates, assisting with interviews, extending offers—and help our Belarus and Poland offices, so we can excel at recruiting there as well. How long have you been at DELVE? Four weeks! What does a typical workday look like for you? I start my morning by checking who has applied to our current open roles and sending some short lists...

Read Article

June 18, 2021 |

Meet the Team: Ryan Abely

Name: Ryan Abely Title: Database Marketing Manager/Direct Marketing Manager What are your job responsibilities? I manage a team of database marketing analysts, and we deliver direct mail, email, and SMS campaigns for our clients. How long have you been at DELVE? Going on four years. What does a typical workday look like for you?My morning is usually spent catching up with my team in Minsk; they have a bit of a jump-start on me. They’re the ones who have the pulse on the production issues of the...

Read Article

June 11, 2021 |

How To Maintain Advertising RoAS when Third-Party Cookies Disappear?

Your brand’s own first-party data is the key to maintaining advertising performance in a world without third-party data.  In this webinar, hear from industry experts, Google and DELVE as they share strategies to improve return on ad spend and top-line revenue growth once third-party cookies and IDFA disappear. During the webinar, we discuss: How cookie deprecation impacts audience targeting in advertisingFirst-party data collection and second-party intent data sourcesApproaches to Identity...

Read Article

June 10, 2021 |
view more insights