Getting consumers to love change
BrightRock, a provider of life insurance products, entered the South African market in 2011.This market is extremely well-catered for in the country with numerous established competitors – some with a track-record of over 100 years. BrightRock’s approach has been to target consumers to build brand awareness so that consumers will ask their financial advisors for the BrightRock product by name.
This is a completely new approach as traditionally life insurers would only target financial advisors, who then suggest products to their clients. The methodology also focused less on the product and more on the needs of consumers – just as the product itself is taking a new approach and asking consumers to co-design their policy so that it suits their life exactly....
In the first nine months of the agency’s appointment BrightRock was able to achieve the highest mention value against all the major players in the market. It also achieved a 39% reach with the target market (high income earners) in the top tier consumer publications alone which an independent marketer says is extremely high.