Source: BigDatr, Compare The Market campaign, Insurance, Possums? There's Only One Place To Go
Comparison brand giant Compare the Market have launched a localised Out of Home campaign in QLD to capitalise on the upcoming Health Insurance rate changes proliferating the market.
Activity has also appeared across National TV and Digital for an added boost of brand recognition.
Source: BigDatr, Suncorp campaign, That's The Suncorp Spirit
Suncorp have used recent turbulent weather and uncertainty to their topical advantage and invested 75% of their media spend this year to date on empathetic messaging offering support through challenging times. With a heavy focus on QLD and NSW specifically to extend supportive messaging in areas most-needed.
Spend is more or less on par YOY, but the brand is moving away from a product focus, with brand sentiment front and centre.
A push on Home Loan products has been felt across market in March from banking giants ANZ and NAB as well as Macquarie Bank - using Out of Home as the media channel of choice to enable greater targeting using state-specific buys
Commonwealth Bank have taken a more aggressive tactic by incentivising potential customers with a Retail campaign: $2,000 cashback offer when they do opt for their home loan product. This is highly visible across small format Out of Home
Corporate Branding is taking a larger proportion of media spend this year Vs the tail end of 2019: brands look to continually re-establish themselves amidst a financially uncertain climate
Medibank has made a huge push to break away from being pigeonholed as Health Insurers only and spent $2m+ advertising their Life Insurance product across TV, Digital and Radio
More aggressive Retail-focused home loan rates have been pitched in market by big and small contenders alike
Sources: BigDatr & SMI - 2019 and 2020 Media Spend
Source: BigDatr, Bendigo Bank, Your Best Interests at Heart
Spend across Vehicle Insurance has almost tripled YOY looking at Dec 2018 into Jan 2018 versus this same period this year (Dec 2019 into Jan 2020), with Budget Direct and Alianz both spending upwards of $1.2m across the period. Allianz has taken a more blended approach using a combination of heavy Radio and dig for high frequency targeting whilst Budget Direct has focused on a TV-led approach
For the Superannuation & Wealth Management sector spend has also healthily increased from the same period in 2018/19 versus Dec 2019 -Jan 2020, with investment 1.5 x that of the previous period. In the last period Out of Home took 20% of media spend share with Display and Search taking 26% apiece, whereas in the same period this year Digital Search took a whopping 40% versus OOH at 8% and Display at 26%
QSuper have come back in market with their ‘Super without Surprises’ brand platform, heavily targeted to their home market of QLD with a blended campaign and a notable reliance on Newspaper to target the retirement sector
Source: BigDatr, QSuper, Welcome To Super Without Surprises