Realising that customers highly likely to purchase life or health insurance turn to Google within two minutes of an insurance ad running on TV, AIA built a technology solution that triggered search bids based on competitor TV ads running in real time.
Making search moments matter
An already hugely competitive category, health and life insurance advertising investment was up significantly in the midst of the pandemic (2021) and there were multiple new players in the market.
This meant that despite its number one market share, AIA’s share of voice was down. This was particularly felt in Paid Search with a 44 percent increase in competitors bidding on life and health insurance keywords.
As a result of this, AIA’s share of search had dropped and the average cost per click had risen.
The strategy set out with two objectives to reflect this: deliver the same amount of leads in Paid Search with a capped budget despite increased competition.
Analytics identified a specific window in which people with highest intent were searching for health and life insurance. AIA sought to own these “intent moments” through a unique marketing solution.
This solution used real-time competitive data connected to ad-buying platforms to trigger media bids immediately.
This work resulted in a New Zealand first solution that capitalised in real-time on AIA competitors’ activity.
This unique solution helped AIA grow leads in the face of increasing competitive pressure. With the same overall spend, attribution showed the brands ‘micro-intent’ technology-driven approach, compared to the usual marketing programme resulted in increased user volume, more conversions and a lower cost per lead.
Although there was the same level of investment, AIA achieved and exceeded the goal of holding ROI.
Alex Djambov, Head of Marketing at AIA New Zealand says this innovative real-time search activity was the perfect way to maximise marketing spend in the face of competition.
“A simple insight, executed brilliantly.”
Category
Excellence in Data Insights Strategy
Company
AIA New Zealand
Marketing Initiative
Real-time Intent Marketing
Marketing Partner
Together
Judges’ Comments
“Incredibly smart strategy and insights with a clear articulation of the challenge to deliver strong results. Continued learning was leveraged with positive stakeholder engagement to commercialise the insight.”
Finalists
Mercury; Sky Television New Zealand
Enter the 2023 TVNZ-NZ Marketing Awards
Got a marketing strategy worthy of this award? Enter it into 2023 TVNZ-NZ Marketing Awards today. Entries close at 5pm on April 28, 2023.
Excellence in Data Insights Strategy sponsored by REACH
The judges are looking for the most outstanding example of a situation where customer/market data was used to provide insights to optimise marketing strategy and performance, design a product or service in fulfilment of a customer need, and/or address retention or acquisition strategy that leads to increase revenue and/or customer satisfaction.
This article was originally published in the September/October 2022 issue of NZ Marketing. Click here to subscribe.
