Insurance Agency Email Marketing And Multivariate Testing

Insurance agency email marketing can and should be one of the most powerful lead generation tools in a marketing agency’s toolbox. And when it comes to insurance agency email marketing, multivariate testing offers a highly advantageous methodology for improving results, providing greater insight into email campaign optimization and conversion efficiency. A/B split testing offers a simple way to understand multivariate testing. Split testing is an empirical approach used to determine optimal conversion rates (click-through 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 seller creates two versions of an email campaign (we’ll call them email version A and email version B). The agency marketer wants to determine which of these versions has the most effective subject line. Split testing works best if the emails are identical except for one change, which in this case is the subject line. Variations of agency and broker email marketing campaigns can be dramatic or subtle. Each subject line can be completely different, or a one-word change can be measured. Agencies can then measure differentiating campaign fundamentals, including open rate and click-through rate, to determine which insurance agency email marketing campaign was most effective.

For example, if campaign A returned a 20% open rate at 10 clicks and campaign B returned a 25% open rate at 14 clicks, then the email balance should use campaign B. What balance can you ask? Multivariate tests may use a small portion of your email marketing contact list. If the agency marketer 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, the B version of the email. Top is often determined by click-through rate, but can also include criteria such as webinar registrations, newsletter subscriptions, website traffic generation, etc.

Multivariate testing is similar to A/B testing, but can be used to test multiple insurance agency email marketing iterations at the same time. A simple way to think of this is an A/B/C/D split test, with each email using a different subject line. If the D version is twice as good as the other emails, then the rest of the email can be sent using the D version of the insurance agency email. , making sure they have enough output test volume to produce credible results.

Multivariate split testing allows agencies to optimize their insurance email marketing campaigns to ensure optimal effectiveness, from subject lines to calls to action to content density. Multivariate testing enables insurance marketers to continually measure, refine, and improve their insurance agency’s email marketing initiatives to generate more insurance leads.