FINDING THE RIGHT AUDIENCE FOR RENTERS INSURANCE AND DRIVING RESULTS.

The Situation

  • Unlike other insurance products, the US does not require consumers to own a renter’s insurance policy.
  • Many consumers do not know that the product exists or that it is one of the most affordable types of protection you can own.
  • TV has historically been lower priority, as 70% of the impressions are wasted on owners of homes, not renters.
  • State Farm, Allstate’s largest competitor, was spending 35 times more than Allstate to target renters and dominated Share of Voice on TV.
  • With only one-third of renters insured, Allstate needed a way to not only reach the right people to make them aware of how easy it is to protect their belongings, but also get them to take action and consider Allstate.

Strategy & Implementation

  • Strategy for Allstate: Innovate, and out-smart.
  • Worked with the companies at the forefront of Addressable TV: DirecTV and Dish Network.
  • Developed criteria identifying renting households to segment HHs as “buyers” or “renters”.
  • Able to determine that 12% of the DirecTV and Dish audience were “renters” -> initiated the largest-ever national Addressable TV test.
  • Unique calls-to-action embedded into the spot making it easy for renters to discover Allstate and measure the impact on the business.

The Results

Allstate Renters insurance saw 200% increase in conversion rate versus benchmark. The scalable solution allowed Allstate to connect with renters in TV for the first time, without the waste and investment that would have been necessary to break-through on traditional TV, ultimately driving consideration for Allstate Renters Insurance.