carrot carrot carrot Change Centers x cognizanti collaborators create-folder Data Science Decisive Infrastructure download download edit Email exit Facebook files folders future-of-work global sourcing industry info infographic linkedin location Mass Empowerment Mobile First our-latest-thinking pdf question-mark icon_rss save-article search-article search-folders settings icon_share smart-search Smart Sourcing icon_star Twitter Value Webs Virtual Capital workplace Artboard 1

Please visit the COVID-19 response page for resources and advice on managing through the crisis today and beyond.

INSURANCE

Brand Strategy Lowers Acquisition Costs by 75%


The Challenge

A leading U.S. insurer wanted to reduce cost per acquisition (CPA) in digital campaigns across its lines of business and geographies. It also wanted to build a deep conversion funnel of new prospects within these campaigns. Because the predetermined affinity segments the insurer’s campaigns used were proving to be too broad, it had significant click spend on irrelevant audiences. With consumers now using narrower terms to search for specific products and services, it is vital to match digital campaign messages to relevant audiences on quality sites to ensure maximum return on investment. Cognizant came on board to develop a solution around our Digital Marketing Operations offering that would help save costs and fill the insurer’s conversion funnel with high-quality traffic.


Our Approach

Cognizant built a brand strategy based on creating new, more granular segments to unlock new audiences. We identified segments that were actively seeking the insurer’s products and services. Then, we targeted remarketing segments and developed custom affinity segments based on both affinity and user attributes gleaned from online behavior such as websites browsed and time spent on specific pages. We used keyword contextual techniques and narrowed page-level categories to reach the target audiences. Also, as part of our campaign monitoring, we optimized the campaign week-on-week based on conversion data attributes.

Targeting Active Web Researchers Optimizes Campaign Spend

Using in-market segments to specifically target active web researchers who search for and seriously consider a purchase by comparing products and services online helped ensure campaign spend reaches only specific, motivated users in the conversion funnel. It also helped increase the likelihood of providing those users with relevant brand information and offers at their moment of decision-making. Reallocating campaign spend to the best-performing strategy and sites helped eliminate websites with lower conversion rates or off-target age groups. As a result, we helped reduce the insurer’s CPA from $260 to a mere $70.

SEE THE FULL STORY »

Over 70%

reduction in CPA

Reallocated spends

to the best-performing strategy

Eliminated websites

with lower conversion rates or off-target audience groups

Drove messaging

to ready-to-buy audience segments by creating granular affinity segments


SPREAD THE WORD