Developing a unique youth insurance package for DVV
Following the financial crisis and an aging client portfolio DVV Insurance was forced to re-orient and invest in a new strategy attracting Millennials through profitable products. With a limited marketing budget, it was decided to focus on the Nestleavers first. With no affinity with the target group at all, DVV needed a thorough understanding of the living environment, values, lifestyle, challenges, frustrations of the target group and how all of this relates to insurances.
What did we do?
In 2011, we installed a structural collaboration through a Consumer Consulting Board (also known as online research community) with 150 Nestleavers and actively involved relevant internal (marketing, sales, IT, management) and external stakeholders (ad agency, media planners, …). Up until now, the collaboration consisted of 3 main parts: immersion, co-creation of the 2012 go-to-market campaign and content for digital platforms. The immersion indicated that DVV needed (1) an USP, (2) to show true Gen Y ‘understanding in product offering, communication and price setting, and (3) to bring simplicity and direction in this complex world of insurances. This was translated into Cocoon Start, a unique insurance package in the Belgian market, launched with the daring SHIT campaign and followed by updates on the website and the Nestleavers Facebook page.
Business impact was measured internally and externally. Following the campaign, the quarterly brand tracker showed a 50% increase in TOM for the target group and significant increase in image statements rejuvenating the brand. Online bannering generated more than 150K new leads and DVV Insurance reported + 200% website visits and + 30% new business.