As new generations come and grow, the consumer base also changes. And as millennials (aged around 17 to 37) grow older, they're becoming more and more relevant. In the US, for example, millennials are the largest living generation and are becoming the most relevant audience in a series of industries.
Deidre Ashe, Director of Personal Lines at Liberty Ireland, has been working on thoughtful campaigns to cater to this audience. "Car'N Stuff was the first campaign developed by Liberty Ireland to speak to younger drivers and its focus was on products such as car, renters insurance, gadget & travel. Ready for the Real Road was a social and digital initiative to entertain and educate our audience rather than directly speak to them about our products," she adds.
Want to know more? Take a quick overview through them below.
CAR'N STUFF
Liberty Ireland dug deeper into the psyche of millennials and found that they do not understand the cumulative value of the things they have, since owning material things is not exactly on their priority list. That is when Deidre and her team came up with Car'N Stuff , a campaign to insure anything that millennials would potentially value: their rented homes, flats or apartments, trips, gadgets (from cameras to surfboards) and cars, all in a customized way.
All the hard work certainly paid off. As a result of this campaign, Liberty Ireland's customer awareness has changed significantly. Instead of being ranked #5 insurer in the consideration box, Liberty is now in the top 3 in Ireland. Since customers get, on average, 3 quotes for their insurance, this is a great position to be in. Also, if we consider the overall NPS from a sales perspective, Ireland's web NPS moved from 18 % to 43%. As a result of that, the number of purchases increased significantly and the value exchange was more equitable, both for the company and for the customer.
"What we learned from this journey is that it paid off to be brave," says Deidre. "In making a quite significant decision of using online channels exclusively, we were able to then benefit from it and also gain learnings from the experience, so it revived our business model as a result."
HELPING MILLENNIALS IMPROVE THEIR DRIVING SKILLS
There is a gap between the skills required for the driving test and those required for the "real road". That was the conclusion of a research study commissioned by Liberty Ireland. A suite of videos were created using live webcams in order to demonstrate real people facing real challenges not covered in the Irish driving test, such as motorway driving, parallel parking and driving in roundabouts. The final results were then posted on social media and the plan is to now move the campaign beyond digital. A Safety Centre was also launched, with safety tips, guides, videos and useful information for new drivers.
The goal? "Become the number 1 insurance brand for young learners," says Deidre.
The results are clear:
● There was an increase of about 15% in the policies sales for the targeted audience compared from June to September 2017 ● The entertainment videos reached over 450.000 views, and the Safety Centre already has 8.000 views ● Advertising recall among the under 30 audience almost doubled going from 15% to 29% during the campaign period of June to September ● Over 1 million people have seen our Ready for the Real Road sponsorship “stings” during the programme Home & Away
[This text was published at the company's global newsletter, translated in 11 different languages worldwide]
