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How better customer insight enabled a large insurance group to reduce ad spend and increase conversions

insurance-group-reduce-ad-spend

5%

increase in overall conversion rates

$ROI

increased marketing efficiency and ROI

10%

reduction in advertising spend

About the customer

One of Europe’s largest insurance groups, serving 13M customers. They have been a Celebrus client for over ten years.

Use Cases

  • Accurate campaign attribution models
  • Maximizing media effectiveness and ROI

Challenges

Collecting customer interaction data to understand how to improve the service offering and determine the optimum use of online advertising budgets to drive sales has been a constant focus for the company for more than 10 years. Digital Analysts at the company use the Celebrus Customer Data Platform (CDP) to collect data on every website interaction and then collate it into individual visitor profiles.

Web analysts need to extract meaningful customer information from the vast streams of data being collected. But collecting large amounts of online data using various tagging systems and web analytic tools to create reports isn’t quite enough. Forward-thinking web analysts and marketers know that the real value comes from understanding an individual’s online interactions progressively. For example, having detailed customer digital behavior data is important for attribution modelling where analysts require data to understand historic journeys of individual online customers over time.

Without the data about an individual’s historic online behavior, the company was only able to build attribution models based on the last click – an unreliable structure and foundation for marketers to decide where to spend advertising budget. Data from most web analytics software is not fundamentally built to provide the history of an individual’s online interactions, but the Digital Analysts at this trusted insurance company believed there should be a more accurate model to decide where advertising spend is allocated. They were right.

13M

customers 

200+

years in business

insurance-group-mixed-market-modelling

Solution

Celebrus CDP enables the company to collect highly detailed, granular, and accurate data from the entire online customer journey and increase its understanding of how customers convert, where they started, and what they did in-between.

The large insurance group wanted to achieve deeper insight into how their online advertising campaigns performed, and how small parts of a campaign could influence the overall success. They had previously used last-click modelling, but this didn’t provide the necessary depth of meaningful data. Celebrus CDP provided large amounts of unparalleled data that revealed detailed individual-level interactions for the first time.

The next step was to effectively analyze it and therefore draw conclusions. Understanding that analyzing web data is always a challenge, the team set clear parameters around their focus.

The insurance group made a strategic decision to focus on online advertising as a first step in the process in order to create the model, refine it, and refine it some more before expanding it to incorporate offline advertising.

As the client explains, "Understanding how the individual aspects of a campaign perform on a specific target audience is not possible with the majority of web analytics software suites, which predominantly focus on a last visit or single session."

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What Celebrus CDP provides is an ability to combine the history of a customer journey across all of their website visits; this allows us to provide a detailed context and uncover far more data about the customer and the route they chose to conversion.

Results

The company set out to achieve a minimum of 10% reduction in advertising spend through better insight, raise overall conversion rates by 5%, and provide marketers with the ability to maximize marketing efficiency and ROI.

Goal: Improve clarity and accuracy on impact of advertising spend

How was this done?

The company began developing a campaign attribution model with an aim to provide accurate analysis to show which methods and advertisements added the most value to an individual campaign, and to the sales effort overall.

As one digital analyst explains, “Online advertising is an important part of our marketing budget and previously it had been really difficult to prove an ROI for it. Using the data gathered from the Celebrus software and processing it via our campaign attribution model, we are now gaining insights into which online media or tactics are performing better than others.”

They can also identify any problems and rectify them sooner. Most importantly, they’re now able to accurately assess how each customer visit has impacted on the purchase decision, and therefore understand where to best allocate advertising spend.

Results

By leveraging detailed data from Celebrus, the team quickly realized that online banners don’t immediately lead to a customer buying a product – a customer typically needs more visits before deciding to purchase. Using the standard web analytics solutions, they had previously reached the conclusion that it wasn’t money well spent. But with the insights provided by the Celebrus data and their campaign attribution model, the company was able to validate that online banner ads actually worked very well. Conversions from this source were very high, they just took a long time to attain.

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Through a last-click approach, and without the Celebrus data, we would have never been able to realize that. We were therefore at serious risk of underestimating their importance and reducing that budget which would have impacted our overall success.

Goal: Establish a successful model for online advertising, then expand to offline advertising

How was this done?

The Celebrus software enables the company to do a lot more than just basic web analytics, providing a greater depth of insight to a variety of wider channels. It also allows them to drill down into the data they are collecting to the most finite of degrees and understand exactly how their marketing is performing.

Results

The depth of data and analytics is already delivering an enviable competitive advantage to the insurance group. With full ownership of the data being collected on the website, the team is able to fully interrogate it, and benefit from the extremely rich and granular levels of data.