Best Life Insurance Companies South Africa – More than 3% of all advertising spend in South Africa comes from the insurance industry; Along with this, there is no doubt that these substantial investments should be driven by market intelligence and media analysis to ensure that insurance companies buy strategic advertising space. This gives them an edge over their competition and ensures that their ads reach the right audience at the right time.
Considering the huge expenditure on advertising, it can be assumed that insurers, especially legacy insurers, provide primary and high quality marketing. Yes, there is no doubt that their ads cast a huge net and are likely to engage and intrigue consumers, but are they strategically positioned and do they deliver positive returns? Below is the chart; Clientele and OUTsurance show almost neck-to-neck with their ad spend, although OUTsurance generated more advertising in the recorded time frame.
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What does it all mean? Has the client hit the sweet spot with their creative direction and overall marketing strategy, or is there value in numbers, as OUTsurance showed us with their new ad execution, which delivered up to 47% of all new ads on eMarketer? Or should other players in the market step it up?
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Insurance Marketing Review 2022 covers more than just advertising and advertising spend. This review also applies to the landscape of insurance competitors in traditional media. With this type of analysis, we look at the most talked about or most visible insurance brands in the industry and whether they focus on positive or negative coverage. Download the report to find out more insights.
Insurance is an essential product, but at the same time it is a very undifferentiated product. Market intelligence and measurement can help insurance providers gain an edge over their competitors, create real value for customers and reduce the total cost of customer acquisition. Basically, new players in the insurance industry have an opportunity to break through even if they don’t have legacy business budgets if their marketing strategy starts with media and advertising spend research and analysis. DM
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