Branding bigger than cost on comparison sites, survey affirms

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Research from digital marketing agency Gravytrain has found that customers using price comparison sites are still more likely to buy from brands they trust than those with the lowest quote.

A survey of 2,000 consumers found that 34% would choose brands they trust, while just 20% would take the lowest price.

The figures mirror those from a 2011 Gravytrain survey, which also showed that the over 55s are particularly loyal to trusted brands and that 18-24 year-olds are most likely to select the cheapest quote.

Regionally, the firm found that brands are most important to those in the UK's North West, where 41% choose on trust, while only a quarter of shoppers in the East Midlands would buy on the same basis, the UK's least influenced geography.

Gravytrain added that just under half of those surveyed noted the importance of insurance providers having an easy-to-use website, 46% agreeing that they are put off buying insurance from overly complex sites.

Gravytrain chief executive Kevin Taylor, pictured, highlighted the importance of brand recognition.

"The steady trend highlighted by this research indicates that, while competitive pricing is important, delivering brand recognition and trust is still critical," he added.

"As a result, insurers and brokers should look to broaden their marketing spend beyond the confines of price comparison sites to other media channels.

"This means implementing a multi-channel marketing campaign to successfully engage with consumers to build brand recognition and trust."

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