Transcript
Customer Research
Research Target
Customers
. - See more at: http://www.emarketer.com/Article/Insurance-Develops-New-Digital-Path-Purchase/1010337#sthash.K0FKsvJJ.dpuf
Insurance is a relatively complex product for potential buyers to understand. Digital channels are now an integral part of how
consumers research and get insurance quotes.
However, the process remains a multifaceted journey, where traditional sources like agents and call centers are valuable.
Reportwww.emarketer.com
1. Initial engagement is key, expectation is high and 1 in 5 will abandon if they have problems
. - See more at: http://www.emarketer.com/Article/Insurance-Develops-New-Digital-Path-Purchase/1010337#sthash.K0FKsvJJ.dpuf
2. Differentiate through a value proposition and provide reasons to believe
. - See more at: http://www.emarketer.com/Article/Insurance-Develops-New-Digital-Path-Purchase/1010337#sthash.K0FKsvJJ.dpuf
3. Can customers easily contact the company?
. - See more at: http://www.emarketer.com/Article/Insurance-Develops-New-Digital-Path-Purchase/1010337#sthash.K0FKsvJJ.dpuf
18 to 35 age group are more demanding and are more likely to want:
• tools that assist them in understanding which home insurance cover that is right for them.• the ability to view and manage their account online.• general information about home insurance• customer ratings and reviews.
• http://www.smartinsights.com/marketplace-analysis/consumer-buying-behaviour/digital-sales-effectiveness-survey-for-the-uk-insurance-sector/
• Home insurance providers need to work harder to acquire first time customers• This group 'Generation Y' are more demanding and expect more which gives a good indication
of where the industry needs to be playing in order to attract these younger customers.
• http://www.smartinsights.com/marketplace-analysis/consumer-buying-behaviour/digital-sales-effectiveness-survey-for-the-uk-insurance-sector/
Older customers still want easy to understand information
• Older consumers want easy to understand information and the ability to save a quote when they are researching options.
• To optimize online conversion for this segment, insurance providers need to implement UX best practice to provide simple attractive design which is utterly utilitarian in nature.
• http://www.smartinsights.com/marketplace-analysis/consumer-buying-behaviour/digital-sales-effectiveness-survey-for-the-uk-insurance-sector/
4. The home insurance industry as a whole is particularly weak.
• Helping customers to evaluate the different home insurance policies for their needs.
• The poor performance across the online customer journey
• http://www.smartinsights.com/marketplace-analysis/consumer-buying-behaviour/digital-sales-effectiveness-survey-for-the-uk-insurance-sector/
Competitor analysis
UK MARKET
http://www.globalreviews.com/blog/the-influence-of-comparison-sites-in-the-pathway-to-purchase-car-insurance/
Organic & paid key word search by domain. Research completed by Global Reviews in Q3 2014UK Motor Insurance Brands DSE
UK Market Share
http://www.standard.co.uk/business/markets/market-report-aviva-tops-the-market-as-traders-approve-of-its-choice-of-friends-10173040.html
Aviva shares, which have rallied 50% since Mark Wilson took over as chief executive at the start of last year ( 2013), jumped 11.5p to 566.75p.
Mark Wilson CEO is supported by shareholders
Driving Force
The insurance giant was due to complete its £5.2 billion acquisition of
rival Friends Life, a deal that will create the UK’s leading insurance, savings and asset-management
business by number of customers.
http://www.standard.co.uk/business/markets/market-report-aviva-tops-the-market-as-traders-approve-of-its-choice-of-friends-10173040.html
Acquisition
Aviva is currently sponsor of the rugby union Premier League, a four-year £20m deal signed in July.
http://www.marketingmagazine.co.uk/article/1036130/aviva-sponsor-video-on-demand-rugby
Marketing
Marketing
Aviva use comedian Paul Whitehouse, he plays mostly men his own age in a middle class settingWhich reflects the connection with Rugby.
They all have an aspect of aspiring lifestyle for couples age 50, Holiday, hobbies etc.
US MARKET
2009 US Marketing and Market Share
Flo is a fictional character appearing in more than 100 commercials for Progressive Insurance, beginning in 2008. Portrayed by actress and comedian Stephanie Courtney, the character has developed a fan base on social networks and has become an iconic advertising mascot
When talking about Allstate's Mayhem campaign, Nina Abnee gets right to the point. "We wanted to kick Flo's ass.“
Progressive 's perky sales clerk character was apparently getting under the skin of Allstate, the second-largest auto insurer behind State Farm and a client of Leo Burnett, where Ms. Abnee is exec VP. By 2009, Allstate's market share had fallen two straight years to 10.5%, only slightly ahead of Geico (8.21%) and Progressive (7.46%), according to the Insurance Information Institute.
Geico's Gecko, Progressive's Flo Have Goaded Allstate, Others Into Upping Marketing Ante
Research
UK US
Use of mascot
Branded Awareness
(ABC1) Target audience
(C2) Target audience
Outcomes:
Customers are used to having things their way. They understand ease of use,With iPhones, Netflix, App store etc
Apples design philosophy is the leader in the market in what customers aspire to.
What is the next step is service?
Lets reflect what our customers aspire to be.
I don’t know if the Axa couple do that. Also they don’t help me understand who Axa is with home
Clear Home Page
Unclear quote
Easy to understandNot easy to understand
Clear quote
Unclear quote
Easy to understandNot easy to understand
Online tools that assist me to understand what cover is right for me
Ability to save a
quote for later
Lack of online tools that assist me to understand what cover is right for me
Lack of ability to save a
quote for later
Ability to view and manage my account online
Lack of ability to view and manage my account online
Ability to apply online
Lack of ability to
apply online
General information about home insurance
Lack of general information about home insurance
Lack of customer ratings / reviews
Customer ratings / reviews
Overall category map
Unclear quote
Easy to understandNot easy to understand
Overall category map
Unclear quote
Easy to understandNot easy to understand
Overall category map
Outcomes:
Aviva seems to have worked on understanding customers. Ease of use and sending a message.
The design of the site will most likely be updated soon as it shows its age.
I think that we need to understand what differentiates us? Is it our target customers? Is it offers?
I do not know if the Axa couple signifies whom I want to be with our home product.
Aviva wins due to being a huge part of Middle-Class life, Rugby & empty nest syndrome
Easy to digest
informationSimple design
Responsive to the
customers needs
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