IDI Insurance

BOOSTING SALES WITH CAR INSURANCE ADS ON FACEBOOK

CASE STUDY

THE ISRAELI INSURANCE COMPANY MORE THAN DOUBLED THE NUMBER OF CAR INSURANCE QUOTES FROM FACEBOOK WITH A MULTI-PHASE AD CAMPAIGN DESIGNED TO MOVE CUSTOMERS FROM AWARENESS TO PURCHASE.

 

2.3X

increase in car insurance quote requests via Facebook

25%

decrease in cost per acquisition of quote requests via Facebook

5%

decrease in overall cost per acquisition

3.4

point lift in top-of-mind awareness

THE STORY

Selling direct insurance online

Founded in 1996, IDI Insurance is an Israel-based provider of direct insurance services. The company offers a range of insurance products for car, mortgage, apartment, health and more, and operates without brokers or agents.

THE GOAL

Generating high-quality leads for car quotes

IDI Insurance wanted to attract a broad audience of people to begin their purchase journey for IDI car insurance on Facebook, and to reinforce top-of-mind awareness among prospective clients.

THEIR SOLUTION

A change of gear

After successfully using Facebook to focus on narrow audiences made up of existing or likely customers, IDI Insurance wanted to expand its activity to reach people who might not be in the market for car insurance yet, but would soon be.

Working with its performance agency K Logic and creative agency BBR Saatchi & Saatchi, IDI Insurance decided to create a “full-funnel” Facebook campaign to take car owners from consideration through to purchase. This kind of campaign strategy seeks to create a customer journey by first raising brand awareness broadly before narrowing marketing efforts to reach the people most likely to make a purchase. Often, these are people who engaged with Facebook ads in the early phases of the campaign.

To achieve the best results in the first consideration phase, IDI Insurance adjusted the tone of its messaging and creative from an immediate call to action to what makes IDI unique, giving people a reason to consider IDI as their next car insurer. Different targeting and several new campaign objectives were also added, such as traffic, video views, and reach and frequency. This new approach allowed IDI Insurance to reach a broader audience with more complex messaging

The customer relationship management team quickly reported more quote requests and sales, and a conversion lift study confirmed that the increase in ad spend drove additional conversions at a cost that was well below the target. IDI Insurance has now incorporated what it learned from this campaign into its ongoing campaign strategy

THE RESULTS

Reinventing the wheel

The success of this campaign changed IDI’s and K Logic’s approach to customer acquisition across digital channels, including Facebook. During the fourth quarter of 2019, the new campaign produced:

2.3X increase in car insurance quote requests via Facebook
25% decrease in cost per acquisition of quote requests via Facebook
5% decrease in overall cost per acquisition
3.4-point lift in top-of-mind awareness

Products used

Photo ads

Inspire your audience  with photo ads.

Video ads

Capture attention with engaging video ads.

Measurement

Make better marketing decisions based on insights.
 

As a car insurance advertiser, we were focused only on large-scale performance campaigns (based on a last-click attribution model). We were sceptical that “upper funnel” campaigns will improve our sales results. We were delighted to see a significant increase in demand and in our ability to scale our acquisition on Facebook, while maintaining cost targets. Adding the layer of mid- and upper-funnel campaigns was a game changer in our digital activity.

photo ads.
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