Invasion of the Aggregators
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Invasion of the Aggregators

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Presentation I gave at the Financial Services Forum at Yahoo in March 2009. Essentially a look at media and search issues around insurance aggregators.

Presentation I gave at the Financial Services Forum at Yahoo in March 2009. Essentially a look at media and search issues around insurance aggregators.

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Invasion of the Aggregators Invasion of the Aggregators Presentation Transcript

  • Financial Services Forum Invasion of the Aggregators
  • According to Hitwise, who was the most searched for celebrity in the UK between October 2008 and January 2009?
  • The media landscape
  •  
  • What would an all-aggregator media plan look like
  • Audience crossover between main aggregators 10k 150k 160k 2.2m UVs 760k UVs 750k UVs Source: Google Adplanner 200k
  • Demographic breakdown of “aggregator.com” Aggregator sites (aggregated!) All UK online users More female More middle aged Empty nesters
  • Demographic breakdown of “aggregator.com” Aggregator sites (aggregated!) All UK online users Better educated Not poor
  •  
  • Importance of aggregators 59% of insurance purchases involved 1+ visit to an aggregator during the research process. 10% of searches comes from aggregator terms. Comscore Custom analysis, Uk Population Q3,2007
  • Impact of trademark bidding changes at Google
    • Relaxation of trademark bidding on Google from 5 May
    Recent research by Harvest suggested that the personal insurance sector was the most competitive in terms of brand bidding.
  • More than 50% of searches on ‘home insurance’ go to just two aggregators
  • More than 40% of searches for “home insurance” go to just two aggregators
  • Direct insurers doing relatively OK on “travel insurance”
  • Aggregators are starting to use online media... TOTAL ONLINE MEDIA SPEND - 2008 Gocompare.com £393,400 ComparetheMarket.com £106,400 MoneySupermarket.com £1,212,500 uSwitch.com £1,260,000 Confused.com £48,900
  • ...but their spend is dwarfed by the big finance brands TOTAL ONLINE MEDIA SPEND - 2008 Aviva - Norwich Union £9,621,900 Churchill Insurance £1,357,500 Direct Line £1,859,900 Gocompare.com £393,400 ComparetheMarket.com £106,400 MoneySupermarket.com £1,212,500 uSwitch.com £1,260,000 Confused.com £48,900
  • Is it all about price?
  • Searches for “cheap car insurance” are trending down
  • “ Compare car insurance” is the new kid on the block
  • The time-pressured consumer
    • Doesn’t have time to research the market
    • Understands that cheapest is not best value
    • Will buy the cheapest brand they recognise
    • Cheapest in the aggregator tables is not always the most clicked
  • What else is new in the aggregator market?
  • ATL campaign extends into social media
    • Compare the Market’s social media strategy is supporting their advertising activity
    • The unique character of the Meerkat has enabled him to use social media platforms such as Twitter to build relationships with users & engage them with the brand
    • Though completely unrelated to insurance, the character is given a personality with humorous and entertaining substance that can’t help but draw attention to the brand resulting in high brand recall
  • Some genius moments...
  • Compare the market versus compare the meerkat
    • According to Hitwise visits to Compare the Market have increased by 86% This corresponds with the traffic to Compare the Meerkat’s traffic.
    • 21% of the people visiting Compare the Meerkat went directly to Compare the Market.
    • So in terms of brand ‘noise’ CTM are doing well.
  • They have missed a few tricks...
  • But...
    • Compare the Meerkat is only using social media as an alternative broadcast channel
    • Outside of Twitter, there is no real dialogue
    • But what happens when you let customers into the conversation?
  • Travel sector - top 10 sites by unique visitors
  • Retail sector - top 10 sites by unique visitors
  • Finance sector - top 10 sites by unique visitors
  • Moneysavingexpert overtakes Moneysupermarket
  • According to Hitwise, who was the most searched for celebrity in the UK between October 2008 and January 2009?
  •  
  • Summing up
    • Consumers have moved on from ‘cheap’ to ‘compare’
    • Brands are still important – it isn’t all about price
    • Display media seems relatively under exploited by aggregators
    • Don’t worry about aggregators – Martin Lewis is your real problem
  • THANK YOU
    • Mike Teasdale
    • [email_address]