Haven DR to Consideration
Backed and wholly owned by the famous Mass Mutual, Haven Life is a strictly digital insurer offering dependable and affordable Term Life Insurance. They take a conscious approach to business and featured in Etishpere’s ‘Most Ethical Companies’ of 2019.
3 of the Topline Stats highlighted by the study:
Reduction in overall cpa on FB alone
Average share of voice (FB)
Post-Consideration share of voice (FB)
Haven Life are an exclusively digital insurer with a strictly ‘direct response’ strategy but after struggling for website volume across all channels, Haven’s share of voice was beginning a sharp decline. Google had become very competitive in the US market, creating an unsustainable PPC environment… Strategy change was needed.
We reviewed many possible strategy options for Haven. In order to increase our clients share of voice, volume and traffic, the transition to an upper funnel campaign was imperative. We knew a consideration campaign would successfully meet these aims. Our main objective was to reclaim a wider audience and mitigate the loss of share of voice from PPC platforms by increasing site traffic. In doing so, we also wish to widen our remarketing pool, elevating our current DR strategy.
The first major step was transitioning to an upper funnel strategy with an aim to increase website footfall. As we generate this volume, we also create bigger and/or more niche retargeting pools which will benefit any future campaigns. If all goes to plan, these changes will decrease overall Cost Per Application.
4: End results
The new Haven Life consideration strategy was very effective, increasing the company’s share of voice by 12% in a climate where its competitors were fighting for reach. Additionally, the new strategy also reduced overall CPA on Facebook by 29% and improved incremental sales across all channels. Now that’s what you call a far-reaching strategy!