Now that the practice of dual pricing has been eradicated, brand loyalty is on the rise.
Winning new business is going to become increasingly challenging, therefore brands need to find ways to stand out from the crowd to win the hearts and minds of customers shopping for a new policy.
However, making your marketing budget go far enough to achieve this is the biggest task faced by marketers across the insurance industry. And yet, there are some insurance companies that have already found a simple secret to their marketing success, growing their book of new business customers and spending less than they expected.
Our insurance marketing substantiations, created through the use of our unique datasets, help you cut through the noise, grab customer attention and ultimately increase new business sales.
Give your customers a reason to buy.
We hold unique data on insurance pricing and consumer behaviour, which we use to create substantiated marketing messages. These messages are used by our clients across all channels (web, online, direct, television, and radio).
The most popular is the ‘save up to’ message, which allows you to communicate how much a new customer could expect to save by switching to or with you. We can also create marketing messaging that reflects consumer sentiment towards your brand (trust scores, retention, customer service and satisfaction), and more.
Drive awareness and positive perception of your brand
Give customers a reason to buy
Decrease the likelihood of potential customers shopping around
Increase the opportunity for conversion
Frequently asked questions.
The marketing messages that we provide are created and substantiated using our price benchmarking and/or consumer research data. Both of these data sets are nationally representative and provide an independent, fair and accurate view of the general insurance market.
The use of pricing claims within General Insurance is regulated by both the Financial Conduct Authority (FCA) and the Advertising Standards Authority (ASA). In general terms, advertisers need to make sure that the advertisement is clear, fair and not misleading to the person reading it.
In the FCA's words*:
“ (1) This guidance applies in relation to a financial promotion that makes pricing claims, including financial promotions that indicate or imply that a firm can reduce the premium, provide the cheapest premium or reduce a customer's costs.
(2) Such a financial promotion should:
(a) be consistent with the result reasonably expected to be achieved by the majority of customers who respond, unless the proportion of those customers who are likely to achieve the pricing claims is stated prominently;
(b) state prominently the basis for any claimed benefits and any significant limitations...”
Where possible either the Consumer intelligence logo or asterisk should be used, according to our brand guidelines referenced. In instances where this is not possible, our brand should be referenced as follows, with the details of the substantiation.
Any use of our marketing messages and brand name or logo needs to be signed off by the Consumer Intelligence marketing team prior to go-live. This needs to be provided with a 48-hour turnaround time.
Referencing Consumer Intelligence:
Data provided by Consumer Intelligence Ltd, www.consumerintelligence.com
Exciting Insight by Consumer Intelligence Ltd www.consumerintelligence.com
Link to guidelines & methodology here.