This case study details the approach of a targeted programme of advertising implemented by MediaCom to encourage downloads of the Co-operative's young driver product. All figures are accurate as of April 2013.
Executive summaryThe Co-operative’s Young Driver insurance product utilises telematics ‘black box’ technology to reward careful drivers regardless of age. The
Co-operative in conjunction with Wunelli built a smartphone app allowing drivers to test out the product themselves without the need to purchase. MediaCom then devised a targeted programme of advertising to reach the right audience, in the right environment that encouraged download of the app, resulting in download targets being exceeded by 1,000 per cent and a cost per download over 3,000 per cent below target.As a result, awareness of the product’s benefits and savings to consumers were raised significantly within the target market and the Co-operative continues to exceed monthly sales targets of its Young Driver product.Nothing helps consumers convert to purchase like product trial, and it was this insight that drove the strategy behind this hugely successful campaign – innovative use of media removed significant obstacles to consumers, and the Co-operative’s young driver product is now well-established in its portfolio.
BackgroundFollowing the successful launch of the Co-operative Young Driver insurance product the Co-operative was looking for new ways to broaden the appeal and take-up of the product, and mobile delivers a core audience that matches the young driver market.A major challenge in take-up is consumer understanding of how it works, what it tracks, and how much can be saved. Young drivers are concerned that details of their driving would be available for all to see and would be used for purposes other than insurance premiums and that the relative costs of being monitored would not be worth the cost savings.
ObjectivesThe campaign objectives were clearly defined from the outset as:
- Engage the young driver market through a fully functioning “try before you buy” app allowing users to understand the telematics technology and see how they would be scored using it.
- Use digital advertising to engage the appropriate audience and promote download of the app. Success was defined as 100 downloads per week.
Encourage purchase of the product by demonstrating how people would be able to receive discounts on their insurance premium.
Strategy – The app experienceBased on its telematics technology Wunelli built a fully-functioning app for both Android and iOS which replicated the technology used for the Co-operative Young Driver product. The app simulates the experience and scoring mechanisms of the full product and provides the user with a driving score at the end of each journey. Based on the score a user is then able to decide whether the product is suitable for them and could save them money.
Targeting to drive downloadsOnce the app was built MediaCom provided the advertising strategy to aid uptake of the app and achieve the desired download volumes. Mobile advertising channels were the obvious choice to allow for a simple user journey and encourage direct-to-app store traffic. But rather than running simple mobile advertising MediaCom devised a multi-faceted approach to achieve the campaign objectives.Driving reach through exchanges: Mobile ad exchanges were used to drive reach through the activity. These allowed for a large amount of impressions to be served to increase awareness of the app. Using the exchanges’ targeting technology reached users aged 18-24 who therefore fell into the core audience of the product, to maximise campaign efficiency and budget.Innovative new advertising opportunities: A key element of the campaign was the use of Facebook mobile app install ads. The Co-operative was one of the first advertisers in the UK to use the new mobile ad formats, and the first in the financial services sector. And Facebook was used as a key environment for reaching the defined audience. Reaching the audience on a one-to-one basis: MMS messaging drove a ‘one-to-one’ communication with potential customers. Using the Weve partnership’s newly formed alliance of mobile network providers we distributed MMS messages to people identified as being car enthusiasts. Overlaying an age filter so the messages only delivered to people aged 18-24, the campaign reached the handsets of thousands of young car enthusiasts with a promotional message and imagery.Use of these channels ensured the audience reached was likely to be within the target market demographically and behaviourally, and also ensured download of the app was just a click away – thereby removing the opportunity to drop out of the conversion funnel.The concept itself helped to break down consumer barriers with regards to telematics technology. By allowing potential customers to 'try before you buy' it allowed them to experience the technology first hand and understand how their driving would be scored. A further benefit was that the trial acted as a natural filter of drivers who were less desirable to the Co-operative – poor driving performance during the trial (visibly registered) obviously discouraged these drivers from taking up the product, whereas those that did perform well had demonstrated good driving credentials and were consequently more insurable. The media activity capitalised on the project’s inherently mobile angle by using the channel to aid uptake and drive downloads. And by using a number of mobile channels, focused on specific goals, the activity achieved all stated objectives and delivered results far greater than had a more simplistic approach to mobile advertising been taken. The use of the various formats also increased engagement and drove additional awareness. And by being one of the first to market with the new Facebook mobile formats, the Co-operative gained the additional advantage of an increased brand perception in the eyes of the younger audience.
Results - The original target set by the Co-operative was for the advertising to achieve 100 downloads per week.
- In the first week of activity alone, the app was downloaded over 1100 times, exceeding this target by over 1000 per cent.
- Within the first four weeks of activity it was downloaded over 3500 times with the original target of 100 weekly downloads being exceeded by a minimum of 500 per cent each week.
- The original target cost per download (CPD) was set at £31.88 and in the first 4 weeks of activity a CPD of £0.91 was achieved, over 3000 per cent below target.
This project was awarded best financial services mobile strategy/campaign at last year's MOMAs (Marketing on Mobile Awards). The deadline for 2014 entry has passed but extensions are available by contacting Katy Thomson.
