MiWay Sales & Efficiency

MiWay Sales & Efficiency

Launched in 2008, and a subsidiary of Santam, MiWay Insurance was the first South African-based direct insurance company to offer the purchase and administration of short-term insurance policies, including motor, household, homeowners and business insurance, online.

Results

3 of the Topline Stats highlighted by the study:

%

Return on advertising spend

%

Total revenue increase YOY

%

Facebook profitability vs paid search

1: History

Paid search activity had historically driven high volume and profitability for MiWay, but the channel was becoming oversaturated and crowded. This new competition increased acquisition costs and MiWay were keen to find alternative digital channels to efficiently attract and retain insurance clients.

2: Goal

Building a Facebook campaign that would increase revenue, reduce acquisition costs and prove the financial efficiency of Facebook compared to other paid social platforms like Google.

3: Process

How did acquire that audience? What strategy did we implement once the audience had been captured?
Rocketer ran a scalable Facebook campaign that exceeded acquisition cost targets for MiWay. This included the creation of ‘Lookalike Audiences’ that would specifically target users who would generate highly profitable policies for insurers. Rocketer also used Facebook’s targeting tools to isolate users who owned cars, in addition to creating personalised ads based on geography and vehicle type, to resonate with MiWay’s target audience.

4: End results

A far-reaching campaign crushed the competition and bagged MiWay significant impact on revenue with an increase of 53% on the previous year. The campaign generated 363% return on advertising spend and resulted in the Facebook media channel becoming 42% more profitable than paid search. This not only solidifies Facebook as a more efficient alternative than other channels, but it also proves, no matter the objective, Rocketer will always deliver.

NET PROMOTER® SCORE

Copyright © Rocketer 2022 All right reserved.