Searching for Your Health: How the Australian Health Insurance Premium hike is affecting a spike in Google

Lorna Gill Posted by Lorna Gill

As Health Insurers get ready to hike their prices on April 1, Google is seeing an influx of Australians searching for the best deal with the lowest impact.

Health Insurance Australia Google Trends
Google Trends: Health Insurance, Australia

We can see from the Google Trends report ‘Health Insurance’ searches peaked in March 2017 and it’s predicted there will be a 5% increase in 2018.

So what are people searching for and which insurers are winning the Google Auction?

 

Top search terms

top health insurance search terms australia

Adthena Estimated Clicks, Health Insurance Search Terms, 06/02/2018-08/03/2018

Generic search terms garner the most clicks and are evenly distributed among desktop and mobile, with ‘health insurance’ being the most searched phrase.

‘Compare health insurance’ at the number two spot reflects consumer desire to shop around for the best plan. Successful ads, such as the one below from Comparethemarket, showcase their range of providers and policies with an aim to win the most clicks.

comparethemarket compare health insurance

Also in the top 5 search terms, we see ‘cheap health insurance,’ confirming a market that is driven by price, especially at this sensitive time when premiums are increasing by twice as much as wage growth.

It’s interesting to see that the Google auction is also dominated by comparison websites for this search term, and ad copy uses comparison language as the hook.

choosi cheap health insurance

 

Market Trends

Health Insurance Share of Clicks Desktop
Paid Ads, Desktop, Share of Clicks, Health Insurance, 06/02/2018-08/03/2018

Up until the beginning of March, iSelect have remained the dominant advertisers on desktop for health insurance search terms, closely followed by Bupa.

As health insurance search queries begin to rise in March, as seen in the Google Trends graph above, iSelect start to lose their market share to Comparethemarket, Bupa and Choosi.

Health Insurance Share of Clicks Mobile
Paid Ads, Mobile, Share of Clicks, Health Insurance, 06/02/2018-08/03/2018

It’s a similar story on mobile, where Comparethemarket and Bupa start to disrupt the auction but iSelect do manage to fight back and cling on to the top spot.

 

Conclusion

 

With a rise in search volume over the next few weeks as more people look to change providers, how are you adjusting your strategy to win new customers?

Understanding where your competitors find success can help you to focus your own campaigns and to capitalize on gaps in the market. When there is everything to play for, it’s important to hold onto market share and maintain your visibility in the SERP.


Want to know more about your competitive landscape? Get in touch with us and uncover your Whole Market View.

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About the author

Lorna Gill
Lorna Gill
Lorna is responsible for acquisition marketing at Adthena, communicating their award-winning product and generating demand. She has developed her career in fast-paced, start-up environments, including two tech track 100 companies and is passionate about translating technical information into stories that excite and delight.