Post Blog: Is brand the new price?
It's recently been found that brand recognition trumps price when consumers purchase via price comparison sites. What does this mean for the future of aggregators and how can insurers and brokers best build their brand among customers?
We all know that price comparison sites are a tried and tested method for insurers and brokers to generate sales. In fact it's hard to believe that personal lines brokers could operate successfully and drive revenue without reserving a chunk of their marketing spend for an aggregator presence.
This is particularly important when looking at recent research which reveals that around 80% of consumers use a price comparison website to source quotes.
Of course price is an important part of what drives a purchase, but what is becoming increasingly key in the decision to purchase is awareness of the brand and brand trust.
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