Creating New Acquisition Routes To Market In Agile Sprint
STORY
This Insurance Company is know for innovation in its category – but in highly competitive markets, such as Hong Kong, it is in a race to outgrow the category, as new consumers come into the market, as well as to expand into markets for products such as life and health insurance.
The Company set itself an ambitious goal to find new, digital, direct routes to acquire consumers — to do so quickly taking some calculated risk, prove the model and then scale.
SOLUTION
Ogilvy Consulting embarked on a three-week sprint with the Insurance Company to identify the target audience and ways to use the existing products, channels, messages and offers to go to market quickly, The strategy had to be in compliance with regulations and represent a valid business case for a healthy return, both in pilot and for long-term scale.
We established a number of feasible routes, many of which included partners, not just as a database source, but as a way of bringing new value to the end-consumer as well as to our Client and the partner.
For prioritized initiatives. We developed full plans, on-boarded partners and developed prototypes that would help take the solution to market quickly.
One such solution, was working with an ethical ‘helper’ platform (common to Asia), embedding general insurance as a hook into their offer. This allowed us to engage with consumers who had just had a new baby or aging parents who were prime for life or health plans. This was tied in with a program that brought first aid training to the helpers creating a halo effect for our Client’s brand. The program was a business and brand success.
