Insurance agency email marketing can and should be one of the most powerful lead generation tools in an agency marketer’s toolbox. And when it comes to email marketing for insurance agencies, multivariate testing offers a very advantageous methodology to improve results, providing a greater understanding of email campaign optimization and conversion efficiency. Split A / B tests offer a simplistic way to understand multivariate tests. 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 marketer creates two versions of an email campaign (we’ll call them email version A and B). The agency marketer 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. Variations in 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 the fundamentals of the campaign, differentiating open rate and click-through rate to determine which insurance agency email marketing campaign was most effective.
For example, if campaign A returned an open rate of 20% with 10 clicks and campaign B returned an open rate of 25% with 14 clicks, then the balance of the emails should use campaign B. What balance can you ask? Multivariate tests can use a small portion of your email marketing contact list. If the agency marketer used 10% for the aforementioned A / B test, the balance, or in this case the remaining 90%, can be used to send the top email, the B version of the email. Higher is often determined by click-through rate. , but it 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 about this is an A / B / C / D split test, with each email using a different subject line. If the clicks results from version D are twice as good as the other emails, then the balance of the email can be sent using version D of the insurance agency email. , claim to have enough outgoing 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 to content density. Multivariate testing enables insurance marketers to continually measure, refine, and improve the email marketing initiatives of their insurance agencies to generate more insurance leads.
