Farm Bureau Insurance of Tennessee was looking to attract new and win back former customers with a fresh and robust, 90-day campaign that would identify and appeal to target demographics using data as the foundation to build ideal audience profiles. Additionally, the company sought to increase overall brand recognition while appealing to a broader audience outside of their typical customer. They engaged Data Axle’s Axle Agency to oversee this effort.
There are key moments when consumers consider changing their insurance provider and our goal was to pinpoint those moments by leveraging an analysis of consumer behavior. What we discovered is that the two best times to reach a potential customer are during a move and former customers, after they have changed providers and may be experiencing regret. It is in these moments that consumer attitudes and behavior are more likely to be shifted.
With pre- and new-mover data specific to located or re-locating to Tennessee, the campaign sought to educate prospective customers on Farm Bureau Insurance of Tennessee’s range of offerings and coverage while giving them compelling reasons and insights into why they should be selected as their insurance provider. Communications to former customers who still live in Tennessee were also sent if they are unhappy with their new insurance provider.
A peripheral objective was for the company to increase overall brand recognition while appealing to a broader audience outside of their typical customer.
For this campaign, Data Axle and the Farm Bureau Insurance of Tennessee started with research, taking every bit of intel we could acquire and applying it to a larger understanding of who our ideal customer is, what they are looking for and how best to appeal to them in ways that would result in acquisition for those with the highest propensity to become customers (movers and win-back consumers). Using consumer data as our foundation to gain a complete and robust view of our ideal audience, their interests, behaviors, demographics, etc., we developed a campaign that would effectively reach them using the best strategy while applying our resources thoughtfully to ensure the highest return on investment.
Using cutting-edge technology and developing sophisticated profiles, paired with creating emails and social that were vibrant, engaging and hyper-personalized, we were able to connect with consumers in meaningful and effective ways.
Some of the tactics we employed included:
Taking insights from data to determine the best marketing channel for the individual
Leveraging digital channels from top-of-funnel to bottom-of-funnel to reach digitally onboarded audiences including programmatic display, online video, native advertising, Meta and email
Using motion within the hero image to capture attention and standout
Optimize emails across devices for ADA-compliance and legibility
Incorporating testimonials to build trust through social proof
Providing compelling stats for quick, eye-catching credibility and a conversational tone
Leaning in on imagery that captured authentic day-in-the-life moments to further create a connection
Testing was a huge part of our process and gave us valuable insight into what was performing well and what wasn’t, so we could adjust and pivot, where needed to ensure our message was being received and making an impact.
Personalization was also crucial, and the use of dynamic content optimization (DCO) helped us to create content based on real-time data that could adapt to audience interests and create lifestyle messaging. Key messaging was also heavily influenced by consumer data. Creating unique, compelling creative specific to the new mover and win-back audiences was paramount and helped us to speak to their unique needs as well as raise awareness of The Farm Bureau Insurance of Tennessee.
The results of this campaign exceeded our goals and our expectations through increased conversions, including both new mover and win-back groups.
We measured success in several ways:
Number of new leads and quote volume
Re-quotes (for former customers)
New customers
New policies
Cost-per acquisition (CPA)
The program, which launched in October and concluded in December was during months that, historically, have been slower for Farm Bureau Insurance of Tennessee. During this time, quotes stayed consistent and 24% of all quotes that came in were a direct result of these campaigns.
For new movers, quote volume was exceeded by 167% and was 159% lower than the cost-per-quote when compared to their other mass marketing efforts. Additionally, the cost for acquired customers was at a 65% lower CPA compared to other mass marketing efforts.
Win-back audiences followed a similar pattern exceeding quote volume by 169% and was 165% lower in cost-per-quotes. Further, acquired customers came in at an 81% lower CPA as well
