More than 3% of all advertising spend in South Africa comes from the insurance industry; with this said, there is no doubt that this substantial investment should be driven by brand intelligence and media analysis to ensure that the insurance companies strategically buy ad space. This provides them an edge over their competition and ensures that their advertisements reach the right audience at the right time.
Considering the massive spend investment in advertising, one can assume insurers, especially legacy insurers, are delivering primal and high-value marketing. Yes, it is with no doubt that their commercials mark a large net and most likely keep consumers engaged and intrigued but are they positioned strategically and yielding a positive return? The graph below; shows Clientele and OUTsurance are almost neck on neck with their advertising expenditure, yet OUTsurance has produced significantly more ads within the recorded time frame.
What does this all mean? Has Clientele hit the sweet spot with their creative direction and overall marketing strategy, or is there value in numbers as OUTsurance has shown us with their new ad executions adding up to 47% of all ads newly launched in the market? Or perhaps the other players in the market...