AMB 330 Digital PortfolioAssignment 1: Digital Audit and Planning Portfolio

Teh Dee Sze n9419225

Assignment Information:Name: Dee Sze TehStudent Number: N9419225Assignment: 1. Digital Audit and Planning Portfolio Due Date: 23rd of AugustWord Count: 1620Tutor: Viktor Nikolov

Table of Contents

1.0 Introduction...................................................................................................1

2.0 Digital Audit and Recommendations..............................................................2

3.0 Target Audience Analysis and product and competitor overview...................63.1 Target Audience.................................................................................................................................63.2 Competitor Overview......................................................................................................................63.3 Consumer insights.............................................................................................................................7

4.0 Recommendation...........................................................................................74.1 Appear top 10 in organic search result....................................................................................74.2 Enable quick information and ease of comparison............................................................84.3 Live Chat on the Website................................................................................................................8

5.0 Reference.......................................................................................................9

1.0 Introduction Cover More travel insurance is a locally owned public company that provides customers travel insurance and medical assistance services. Travel insurance is a high involvement product, where consumers engage in extended problem solving, spend time comparing different aspects such as the features of the products, prices, and warranties (Solomon, M. R., Russell-Bennett, R., & Previte, J, 2013).

Australia can be known one of the most competitive insurance markets in the world where “marketing are prohibited from offering ‘general advice’ to a customer.” (Australia, 2003). The product were distributed through direct sales acquisition strategies, for example online website, social media and traditional advertising such as phone sales. However, Cover-More wasn’t doing great enough to attract attention of their target audience (aged 18- 25 active travellers) in terms of their appearance and visibility online.

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2.0 Digital Audit and Recommendations In order to understand the product and the digital presence a Digital Media Audit has been undertaken in Module 1.

MODULE 1: DIGITAL MEDIA AUDIT

Client: Cover-More Insurance Date: 18 August 2016Criteria Examples or observations Ratin

g 1 to 10

Broad vision of how digital media can transform the company

Digital media is very important and play a huge role in transforming the company.Cover-More use of digital media is to a certain extent successful in targeting their audience. This is achieved through:

Posting numerous interesting pictures and videos showing how fun it is to travel and what should have been done when visiting a certain country.

Easy access websites Active in social media

However, their visibility on search engines such as Google was relatively low that would lead to losing potential customers.

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Integration of marketing, IMC and digital strategy

Cover-More uses mainly digital mediums to advertise which results inadequate information to prove consistency across both traditional and digital platform. However all digital media and marketing is consistent with to Cover-More in other countries in terms of logo, branding and same social media shared over different branch.

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Digital strategy (please articulate)

Finally, Cover-More engages with the customers through hotlines and social medias that allow customers to share experiences send their enquiries and tagging friends to increase awareness.

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Strategically consistent,

Cover-More’s brand identity is consistent throughout all digital 6

Cover-More digital strategy is to create brand association and awareness on the brand and product where they play a huge role facilitating purchase. This is executed through 4E framework (excite, educate experience and engage). Cover-More first excites customers by sharing interesting information and holding various competitions through social networks. Than educates them by drawing customers to their website and blog that contains their value proposition and offered benefits. Followed by allowing customers to experience the product through constantly posting videos and pictures on their social media pages that provides numerous fun and helpful travelling tips.

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company-created brand messages

platforms online. Messages were communicated consistently and executions are consistent across different digital platform. Overall, the brand identify of Cover-More is easily recognised allowing the brand to be easy established by target audience.

Degree of company involvement in digital and social media

The company thus far has shown a sound capability in the digital area. They share information and experiences of traveling through their social media this make customers feel they fit in with their needs of protected and joyful vacation. They also have a modern website that allow easy access to various service. However, it seems that Cover-More need to be more consistent in replying customer’s enquiry on their social media so they would be perceived as reliable and fast response. Currently, the brand is communicated merely through digital marketing.

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Digital tools and social media used by the company

Cover-More currently uses 5 of the 10 most popular social media (Facebook, Instagram, YouTube, Google + and Twitter), website and blog.Cover-More is doing great in terms of presenting and linking their social media pages and website together. Action of constantly sharing interesting pictures, videos and posts by Cover-More shows that they priorities their customer’s travel experience, which give customers a hint that they are reliable and they are someone who will act during an emergency. Cover-More also provides their customers varieties ways to get in touch with them so customers would have the sense of security and control that would increase their confidence and loyalty toward Cover-More (Stone, M., Woodcock, N., & Machtynger, L, 2002).

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Frequency of use of digital and social media tools

New pictures and video has been constantly created by Cover-More, one post will be uploaded in approximately 3 days across all digital platforms that provides consistency. Customers that search on Cover-More through different digital platforms will get the same insights and information.However due to some restriction of blog, there is a lack of consistence with other platforms.

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Examples of content shared

Piece one: Video featuring “Tyson” a famous traveller with 67.7k followers on instagram doing bungee jump. Target audiences might be millenials and generation x that age between 21 to 40 who thrilled with extreme sport. The ideal action is to create interest within the target audience and to send a message that it is insured by Cover-More insurance. This video featured by popular instagramer “tyson” also to attracts more audience.

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Piece two: Video by Emmaechow introducing street food in Hanoi, Vietnam. The target audience might be Millennial because Millennial are foodie (Goldgehn, L. A. 2004). Ideal action is to excite and educate Millenials where they shouldn’t be worrying about the crime rate that has been rising in Vietnam if you travel with Cover-More using fun and happy

Strategic user engagement

It appears through their digital platforms the brand is currently targeting more towards the Millennial aged 18-25 with many posts featuring young famous travellers and thrilling adventures around the world. Cover-More conducts a professional and fun manner when replying to comments on their photos or wall posts and constantly update them with latest news. However, Cover-More takes quite an amount of time to reply their potential customers or customers on Facebook. Overall, Cover-More has shown a sound use of their strategic user engagement.

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Measurement of digital

It appears that Cover-More has little comment on their social media that leads to insufficient data. However, they did provide a platform

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performance for customers to make their review and google analytics (Cover-More. n.d.). Also a member sign up/login page for their audience to get their personal detail. From this data collection, they could clearly see people from which age cohort has the most interest in them so they could alter their future strategy.

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3.0 Target Audience Analysis and product and competitor overview

3.1 Target Audience

3.2 Competitor OverviewCover-More has 5 competitors targeting the same audience. Cover-More have been in the industry for 30 years and 2.2mil travel insurance provided. Cover-More is the brand leader in this area where we can see it from their 40% market share and user friendly, modern and well-organised websites and social media that has been setup clearly targeting the young 18-24 travellers (Cover-More. n.d.).

Recent research by IBISWorld shows that younger Millennial is the most likely to travel without insurance, with 51 per cent failing to take out a policy before heading abroad (Travel Insurance in Australia: Market Research Report, 2016). Insights from the Cover-More’s Facebook page also confirm those finding as most of the highly engaged members are older Millennials aged 25-34 (Facebook, 2016). According to survey, 54.6% of people 18-24 believe in taking risk and around 41.6% of them were not protected by insurance (Morgan, R. 2016). Study by GenRe shows that cost was not a major barrier to millennial; it was more that they fail to see the need for insurance (Kutzner, M. 2015).

However, research also shows that these young customers were peer influenced and most purchase was done online (Duffett, R. G. 2015). They also prefer quick information where Google keywords search come in handy (Duffett, R. G. 2015). 87% of them use between two and three tech devices at least once on a daily basis and 62% of them say that they want to engage with company on social media (Schawbel, D. 2015). Nowadays, the Millennial were sliding towards purchasing an experience (Saiidi, U. 2016). Product OverviewCover-More has being very reliable travel insurance company where they were the only travel insurance that sends a team to rescue their customers in Nepal. This is particularly attractive to those audiences that love extreme sport because this indicates that Cover-More will take action if accident happens.

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Table 3 Overall uses of digital platform ratings

One of the challenges that Cover-More is currently facing was their visibility in the search engine (eg. Google) is relatively weak compare to its competitors. This might put them in a disadvantage where as mentioned in section 3.1, they prefer quick information where keywords such as “reliable travel insurance” might be used to find the companies they want. However, by adding keywords such as “Reliable travel insurance” or “Australia’s trustable travel insurance” in the webpage might increase the visibility through the search engine optimization.

3.3 Consumer insights It is recognized that young travellers were peer influenced and wants quick information. Information search and purchasing were mostly through online.

4.0 Recommendation

4.1 Appear top 10 in organic search result. Being visible in organic search result and make use of Search engine optimization is vital for Cover-More who their main marketing tools were through digital platforms. A study shows that between 70% and 80% of users ignored paid ads and focused on organic search results (Pan, B., Hembrooke, H., Joachims, T., Lorigo, L., Gay, G., & Granka, L. 2007). It is also important to know that 75% of users never click past the first page of search results (Lorigo, L., Haridasan, M., Brynjarsdóttir, H., Xia, L., Joachims, T., Gay, G., Pan, B. 2008). Improved visibility also carries implied benefits, such as increased brand awareness and brand recognition, which can also lead to a wider customer base. More site traffic can lead to higher sales and improved conversions when you get your target audience to visit your site (Kucheriavy, A. 2014). Previous consumers and potential consumers are more likely to make a purchase or complete a call-to-action, so when your site ranks well on organic search results, you have a better chance of appealing to those users who can have a direct impact on your business (Kucheriavy, A. 2014).

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4.2 Enable quick information and ease of comparisonThe easier a brand makes the purchase-decision journey, the higher its decision-simplicity score. Brands that scored in the top quarter were 86% more likely than those in the bottom quarter to be purchased by the consumers considering them. They were 9% more likely to be repurchased and 115% more likely to be recommended to others (Spenner, P., & Freeman, K. 2013). Moreover, Cover-More should appeal in Australia’s top insurance comparison websites:

www.comparethemarket.com.au www.comparetravelinsurance.com.au

Just providing more information often doesn’t help. Instead, marketers need to provide tools that allow customers to identify and weigh the features that are most relevant to them (Spenner, P., & Freeman, K. 2013).

4.3 Live Chat on the WebsiteRather than watching potential customers click away from their e-commerce sites, Cover-More should add live chat support. As it turns out, live chat has the ability to provide the convenient answers that customer’s want, while also adding significant benefits to the staff and bottom line of companies (Mavlanova, T., Benbunan-Fich, R., & Koufaris, M. 2012). Moreover, live chat increases sales and gives company an edge of competition. 25% of chatters made 51% to 75% of their purchases on the Web, versus just 10% of those who did not participate in the chat service (Mavlanova, T., Benbunan-Fich, R., & Koufaris, M. 2012).

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5.0 Reference

Australia. (2003). Corporations Act 2001 reprinted on 1 July 2003 taking into account amendments up to and including those made by Act No. 41, 2003. Canberra: Attorney-General's Dept.

Josephson, B. (2016). Millennials and Philanthropy: 9 Insights for Causes, Employers, and Marketers. Retrieved from http://www.huffingtonpost.com/brady-josephson/post_11965_b_10111262.html

Cover-More Group Limited - Profile Company Report Australia. (2015, June 30). Retrieved August 18, 2016, from http://www.ibisworld.com.au/enterprisefull/growth.aspx?entid=425446#

Cover-More. (n.d.). Retrieved August 22, 2016, from http://www.productreview.com.au/p/cover-more.html

Duffett, R. G. (2015). Facebook advertising's influence on intention-to-purchase and purchase amongst millennials. Internet Research, 25(4), 498.

Goldgehn, L. A. (2004). Generation Who, What, Y? What You Need to Know About Generation Y. Int J Educ Adv International Journal of Educational Advancement, 5(1), 24-34. doi:10.1057/palgrave.ijea.2140202

Kucheriavy, A. (2014). Results on Internet (Roi) Secrets of Successful Business Websites. Authorhouse.

Kutzner, M. (2015, June). Appealing to Millennials – Think Smart, Not Hard. Risk Insights, 19. Retrieved from http://www.genre.com/knowledge/publications/ri15-2-en.html

Lorigo, L., Haridasan, M., Brynjarsdóttir, H., Xia, L., Joachims, T., Gay, G., Pan, B. (2008). Eye tracking and online search: Lessons learned and challenges ahead. J. Am. Soc. Inf. Sci. Journal of the American Society for Information Science and Technology, 59(7), 1041-1052. doi:10.1002/asi.20794

Morgan, R. (2016). Roy Morgan Single Source Australia: Apr 2011-Mar2016

Mavlanova, T., Benbunan-Fich, R., & Koufaris, M. (2012). Signaling theory and information asymmetry in online commerce. Information & Management, 49(5), 240-247. doi:10.1016/j.im.2012.05.004

Pan, B., Hembrooke, H., Joachims, T., Lorigo, L., Gay, G., & Granka, L. (2007). In google we trust: Users’ decisions on rank, position, and relevance. Journal of Computer‐Mediated Communication, 12(3), 801-823. doi:10.1111/j.1083-6101.2007.00351.x

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Ryan, D. (2014). "Understanding digital marketing: Marketing strategies for engaging the digital generation, 3rd edition"

Saiidi, U. (2016). Millennials are prioritizing 'experiences' over stuff. Retrieved from http://www.cnbc.com/2016/05/05/millennials-are-prioritizing-experiences-over-stuff.html

Schawbel, D. (2015). 10 New Findings About The Millennial Consumer. Retrieved August 22, 2016, from http://www.forbes.com/sites/danschawbel/2015/01/20/10-new-findings-about-the-millennial-consumer/2/#5337d58142b8

Solomon, M. R., Russell-Bennett, R., & Previte, J. (2013). Consumer behaviour: Buying, having, being. Frenchs Forest, N.S.W.: Pearson Australia.

Spenner, P., & Freeman, K. (2013). To keep your customers, keep it simple. IEEE Engineering Management Review IEEE Eng. Manag. Rev., 41(3), 67-72. doi:10.1109/emr.2013.6596553

Stone, M., Woodcock, N., & Machtynger, L. (2002). Customer relationship marketing: Get to know your customers and win their loyalty. London: Kogan Page in association with Marketing magazine.

Travel Insurance in Australia: Market Research Report. (2016, May). Retrieved August 22, 2016, from http://www.ibisworld.com.au/industry/travel-insurance.html

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