New Castle, Delaware, Sept. 07, 2023 (GLOBE NEWSWIRE) — Allied Market Research published a report, titled, “Insurance Advertising Market by Product Type (Life Insurance, and Non-life Insurance), Advertising Channel (Television, Email, Sales Calls, and Others), and Application (Direct Marketing, Network Marketing, Mobile Marketing, and Others): Global Opportunity Analysis and Industry Forecast, 2023–2032.” According to the report, the global insurance advertising industry generated $10.8 billion in 2022 and is anticipated to generate $30.2 billion by 2032, witnessing a CAGR of 11.2% from 2023 to 2032.
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The purpose of insurance advertising is to increase awareness of insurance products, emphasize the advantages and features of insurance products, and build consumer trust and confidence. The process of insurance advertising includes developing, compelling, and convincing messages, creating visual and audio content, and choosing the right channels to reach the right audience.
Insurance companies can use different types of advertising to get their message out there. TV commercials, radio spots, print ads, banner ads online, social media ads, SEO, content marketing, and direct mail are just a few of the ways. They can also work with ad agencies or marketing experts to create and run effective ads.
Prime Determinants of Growth:
The global insurance advertising market growth is attributed to several key factors, which include the growing insurance penetration in emerging markets, the rise of online comparison platforms, and the demand for innovative policy offerings. On the other hand, the complex and varying regulatory environments, and negative public perception of the insurance industry may hinder the growth of the market. Moreover, consumer awareness leveraging social media, and influencer partnerships are expected to create lucrative growth opportunities for the market.
Report Coverage & Details:
|Market Size in 2022||$ 10.8 Billion|