COVID-19 had a large impact on the transportation industry, increasing the usage of personalised vehicles and decreasing usage of public transport. Although we’re seeing recovery, this pattern seems to be here to stay, with 78% of people stating they will prefer to travel by car instead of public transport in the future.
This has created a surge in Australia’s auto market, and Microsoft Advertising Insights examined this surge to help advertisers reach consumers in-market for a new vehicle.
We found that used car searches are up 271% since the onset of COVID-19 and are continuing to rise daily.
Of course, as vehicle interest rises, so do searches related to auto insurance. Right now, Microsoft Advertising is seeing a rise in clicks with a decrease in cost per click (CPC) relating to auto insurance queries, giving advertisers an advantage in reaching consumers at affordable rates. Generic queries are spiking much higher this season and combining your generic keywords with the Microsoft Audience Network will help to increase your brand’s exposure in early research phases. In fact, we found that almost half (48%) of keywords in the first stage of the purchase funnel for auto insurance are related to these two strategies.
To learn more about the growing auto insurance market, download the insights today.