Case study

IFC Geo v. Lifestyle (Generic) Improve CPQ’s by X%

IFC, established in 1995 and parent company of Belair and Intact, specializes in auto and home insurance products. They take an innovative approach to insurance and in 1997 became the first insurance company in North America to offer online quick quote car insurance. As an organically grown business with over $20 billion total annual premiums, they know the industry.

Statistics

3 of the Topline Stats highlighted by the study:

%

Cheaper CPQ’s

%

Variance in spend

More quotes

History

1: Short client history/pain points/context regarding case study

At Rocketer, when a problem rears its ugly head, we do our all to resolve it. Following a regular creative analysis for the group we found that, over the course of a year, generic creatives Cost Per Quote was 23% more expensive and this percentage was increasing. Across IFC’s entire portfolio, CPQ’s were rising with Rocketer tasked in finding a solution.

Goal

2: What is the end-goal? What metrics/performance are we looking to improve?

The two main objectives were to; undertake a testing schedule for personalised ads v. generic ads and implement these changes to improve performance of Cost Per Quotes across IFC.

Process

3: Process of achieving said goal (strategy)? What steps + Products were used?

Our creative team went straight to work building and test a deck of new, geotargeted ads across all IFC brands. Leaving no stone unturned, we created geotagged versions of Belair’s existing creatives and new video and mapping ads for Intact and NBI.

Results

4: What were the end results (Metrics)? What are the lessons of case study and how can this help prospective clients?

More personal. More relatable. More efficient: The weeks of testing showed that personalised ads incurred better results. CPQ’s of mapped ads were 62% cheaper CPQ’s and increased volume for all brands. Belaire’s geotagged ads generated 2142 more quotes than its ‘Lifestyle’ counterpart.

We had found that a similar approach can be replicated throughout our clientele – reviewing best performing ads and personalising these ads for the user both reduces CPQ and improves performance.

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