Ageas identified they had a limited market of over 50’s consumers. Their ambition was then to grow market shares by targeting a wider demographic, to create a more diverse consumer pool.
REaD Group created a whole market segmentation of the UK utilising what we knew about Ageas customers. The customer segmentation was overlaid with psychometrics and TGI profiling. Each customer cluster was driven by:
- Household income
- Household composition
- Digital engagement
- Insurance products purchased
The initial expansion of their customer base focused on motor and home insurance but evolved to include other products such as pet and travel insurance throughout the campaign.
Specific segments that matched Ageas values and identified as delivering high LTV were then selected.
Every communication – across all channels were tailored and personalised.
Identification of the prospect’s segment during web visits delivered more relevant imagery to the prospect, increasing conversion rates and engagement.
Segmentation was applied to Facebook and other digital targeting. Delivered uplifts in response rates through personalisation as well as enabling efficiency and measurable improvements in marketing.
Segmentation has enabled Ageas to move into new target audiences, away from over 50s only, with great success!