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Sky-rocketing online market shares

Marketing Mix Optimisation | Machine Learning | Digital | ROI | A/B Campaigns

This insurance giant wanted to increase its online sales, whilst at the same time not increase its current cost per acquisition (CPA).

CHALLENGE

Our client did not want to increase TV investment due to a series of internal restrictions.

The online car insurance market was already dominated by ahuge player, spending substantial amounts in offline media,especially TV, in a market with small room for competitors.

We were tasked to help the company’s marketing agency build a digital marketing plan across Hybrid (Organic and Paid Search), Awareness (Online videos, Social Media)and Converting Media (Branded Search, Remarketing,Cart Abandonment) that would maximize sales based on known budgetary constraints.

SOLUTION

A web-based platform.

BACK TO TOP

Our solution was a web-based platform, integrating data across all digital marketing channels, performing cost: benefit analysis on each one and then building a complex optimization algorithm, proposing how the budget should be split across the different channels.

Performance of each channel would then be monitored and analysed, identifying whether changes in key metrics’ such as sales, impressions and clicks was due to our optimised budget algorithm or simply chance and then fine tune budget allocation accordingly.

The brand saw an 182% increase in new online contracts, whilst at the same time achieving a 30% drop in Search Network CPAs and a three-fold increase in AdWords campaign conversions. Its position as a dominant player in the online car insurance market has since then solidified and now has a coherent tool and process on how to efficiently allocate marketing budgets, keeping acquisition costs at a minimum.

Sounds interesting?

Get in touch now and we can schedule a free, one hour, consultation. No strings attached.

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