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An Example of Great Direct Marketing from UK Banking Giant
Posted On: Tuesday 28th June 2011
Summary: It's not often we see good examples of direct marketing, particularly from large organisations but this one just caught my eye and I thought it was worth going over it with you all.
Blog Tags:
Lead Generation
Large businesses are not known for their ability to churn out great marketing. This is mostly because they employ marketing agencies which, sadly, know very little about how to produce effective marketing.
They appear to focus on memorable creative and seem to have at least half of their focus on winning an industry award and very little on generating sales or leads for their client.
Lets not forget that marketing is all about that. If it doesn't create leads or make sales its not good marketing.
Anyway this campaign is around selling home insurance which must be a tough sector to be in as no one actually wants to buy insurance but on the other hand know they must have it so they need to differentiate themselves very well in order to win business.
From the outside all insurance looks the same so how do companies differentiate themselves? Well this business began by asking the question "If you ever needed to claim on your house insurance are you sure you are fully covered?
This introduces doubt and fear and to back it up the imagery shows a flooded home which most people can relate to.
They then go on to claim the they think their home insurance produce can beat just about any other offering available. So far so good, we haev some fear and doubt and imagery to get us interested in learning more then we are hit with the message that these guys can take a way that fear adn potential pain.
However wouldn't every competitor wade in with this claim, isn't it just marketing fluff? Well this would have been a justified conclusion if they hadn't done what they did next.
They offered anyone enquiring £50 if they concluded that their own existing insurance cover beat what this company was offering. Not only this but they got the £50 regardless if they switched or not. Now thats what I call putting your money where your mouth is.
Now these guys will haev done their homework and seen that the average customer lifetime value is significantly more than the £50 they are offering and that their traditional print and TV advertising was costing more than £50 per lead.
When people enquire what do you think are the first few questions that get asked before they look at the cover they have?
That's right. They will gather contact details, Address, Email, Mobile etc and also the renewal date of their insurance poilicy so even if they don't buy at this point they can begin a relationship with them and over time sell them insurance and other financial services.
Introduce some fear or pain, Offer to take it away, incentivise responses.
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