In early 2017, a top-five auto insurance carrier came to Katch with the goal of targeting a specific slice of the market. The target audience would have the following characteristics:
- Currently insured
- Older than 35, but less than 70 years of age
- Prefers desktop to mobile
- Owns a home
Internal research had shown the carrier that this audience drove higher policy values and longer persistency.
Challenges to overcome:
- The nature of the preferred market is more exclusive and highly desirable by other partners as well.
- Increased competition amongst this audience drives prices higher than average.
- Consumers bind offline about 72% of the time, and therefore policies written feedback takes about 6 weeks to mature to 90%.
Solution we provided:
- Katch’s ownership of over 75% of the traffic delivered through its platform provided a distinct advantage.
- 55% of traffic completes a form allowing AIN to target the audience.
- Action steps to implement solution:
- Remove unknown and currently uninsured consumers from funnel.
- Experiment with increasing bids on the target audience to ensure that the brand is shown in first or second position when all target attributes are present.
- Monitor results from partner over the course of months to maintain CPA targets while increasing percentage of the target audience.
Conversion to bind improved from January