Allianz Insurance: One-word to increase sales by 45% and save $2.5m
Advertiser: Allianz Insurance
Author: Lorraine Gormley and Dominic Brandon
Total Campaign Expenditure: $2 – 5 million
Strategic communications challenge
Allianz was facing significant challenges in the Australian market.
Firstly insurance is a grudge purchase. No-one really wants to buy it, but everyone knows they need it. Engagement is infrequent. Consequently all insurance brands strive to be top of mind for when a consumer enters the renewal or purchase cycle; which may only be a couple of times a year. Share of mind is vital.
Secondly, the competition is tough out there. Most Australians have grown up with AAMI. They know the AAMI girl and have been told for years how 'lucky' they are to be with her. Others have been with NRMA (or RACV, RACQ, SGIC or SGIO) since their mum and dad made them take out roadside assistance when they got their first car. It's part of their life story. Meanwhile, low barriers to entry have encouraged a barrage of new players to emerge, including challenger brands like Youi, Budget Direct and Real, as well as online companies such as bingle, thebuzz and Progressive. Banks and financial intermediaries have also stepped up their efforts, as well as new retail partnerships with the likes of Australia Post, Woolworths and Coles. The category is highly advertising driven with the industry investing $120 million + in annual expenditure (Neilson and AdNews).