IntroductionThis case study on CompareTheMarket.com forms part of Datamonitor's new series highlighting best practice in specific areas of financial services.Scope*This case study analyzes the key successful elements in CompareTheMarket.com's marketing strategy*The case study examines how the brand has developed to its current status and why it appeals to consumers so strongly*Datamonitor's Financial Services Megatrend Framework is used to analyze the effectiveness of customer targeting strategiesHighlightsFor insurance aggregators, where they are level on price, brand image is everything. Since January 2009, CompareTheMarket.com has been running one of the most successful marketing campaigns the industry has ever seen. It has proven an immediate success and looks sure to close the gap between it and the two current market leaders.Reasons to Purchase*Gain insight into the methods used by important industry players to give them a competitive edge*Identify specific areas for operational improvements*Capitalize on the knowledge of experienced companies when entering a new niche or market
Value Proposition canvas- Customer needs and pains
CompareTheMarket.com Case Study - making the most of viral marketing
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CompareTheMarket.com Case Study - making the most of viral
marketing
Published on July 2009
Report Summary
Introduction
This case study on CompareTheMarket.com forms part of Datamonitor's new series highlighting best practice in specific areas of
financial services.
Scope
*This case study analyzes the key successful elements in CompareTheMarket.com's marketing strategy
*The case study examines how the brand has developed to its current status and why it appeals to consumers so strongly
*Datamonitor's Financial Services Megatrend Framework is used to analyze the effectiveness of customer targeting strategies
Highlights
For insurance aggregators, where they are level on price, brand image is everything. Since January 2009, CompareTheMarket.com
has been running one of the most successful marketing campaigns the industry has ever seen. It has proven an immediate success
and looks sure to close the gap between it and the two current market leaders.
Reasons to Purchase
*Gain insight into the methods used by important industry players to give them a competitive edge
*Identify specific areas for operational improvements
*Capitalize on the knowledge of experienced companies when entering a new niche or market
Table of Content
DATAMONITOR VIEW 1
CATALYST 1
SUMMARY 1
ANALYSIS 2
CompareTheMarket.com: enjoying great success in the insurance comparison 2
Comparethemarket.com entered the aggregator arena in 2006 3
CompareTheMarket.com is the third largest price comparison site in the UK 4
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CompareTheMarket.com's innovative marketing campaign captures key consumer Megatrends 8
CompareTheMarket.com is emphasizing the simplicity of its offering through its marketing campaign 8
.com's web design 9
CompareTheMeerkat.com is an excellent foil to the meerkat advertisements 10
Aleksandr Orlov has a presence on social networking sites 10
Insurance aggregators are growing in popularity 12
New entrants will have to compete on price as well as brand image 13
The growth of the aggregator market could be threatened by an FSA clampdown 13
APPENDIX 14
Data Tables 14
Definitions 15
The Datamonitor Financial Services Consumer Insight Megatrend Framework 15
Authenticity 15
Comfort 15
Connectivity 15
Convenience 15
Individualism 15
Wellbeing 15
Demographic Complexity 15
Financial Intelligence Complexity 15
Lifestage Complexity 16
Wealth Complexity 16
Further reading 16
Ask the analyst 16
Datamonitor consulting 16
Disclaimer 17
List of Tables
Table 1: You said that you bought a car insurance policy through a price comparison site. Which price comparison sight was that' 14
Table 2: When your car insurance policy last came up for renewal, did you visit any price comparison sites to obtain quotations' 14
List of Figures
Figure 1: Aleksandr Orlov has become a celebrity 3
Figure 2: A brief history of online insurance aggregation 4
Figure 3: There are five clear leaders in terms of car insurance sales 5
Figure 4: CompareTheMarket.com is challenging Confused.com 6
Figure 5: Adverts are very important in attracting custom 7
Figure 6: CompareTheMarket.com's buzz-word is simple, but effective 9
Figure 7: 443,257 people have become fans of Aleksandr Orlov on Facebook 11
Figure 8: 15,570 people follow Aleksandr Orlov's every move on Twitter 12
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