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AMB330 Digital Portfolio Assessment Item 1 Semester 2, 2016

David Reid 1 n9177485



TABLE OF CONTENTS

1.0 INTRODUCTION 3

2.0 DIGITAL AUDIT 4

3.0 TARGET AUDIENCE ANALYSIS 8

3.1 WHO IS THE TARGET? 8 3.2 THE TARGET AND THE MEDIA 8 3.3 THE INFLUENCE OF THE INTERNET OF THE TARGETED CONSUMER 9 3.4 WEBSITE OFFERINGS 9 3.5 INSURANCE – HOW MUCH INVOLVEMENT IS NEEDED? 10 3.6 COVER-‐MORE AND ITS COMPETITORS 10

4.0 CONSUMER INSIGHT 11

5.0 RECOMMENDATIONS 11

5.1 DISCONTINUE GOOGLE+ 11 5.2 DIGITAL ADVERTING 11 5.3 FACEBOOK ADVERTISING 11

6.0 REFERENCES 12



1.0 INTRODUCTION

According to Garretson (as cited in Hanna, Rohm & Crittenden, 2011) ‘Consumers increasingly use digital media not just to research products and services, but to engage the companies they buy from…’ Digital marketing plays an important part in any businesses marketing and communication strategy. The following will examine Cover-‐More Travel Insurance’s online presence before providing recommendations on how the company can improve their digital marketing.



2.0 DIGITAL AUDIT

Criteria Examples or observations Rating 1 to 10 Broad vision of how digital media can transform the company

• Failing to promote call to action of getting customers to complete a quote and convert to paunches by not having quote function on social platforms.

• Instagram -‐ suited to the target demographic -‐ could be used to

further engage consumers.

• Content that encourages consumers to engage with the company on Facebook is needed.

• Other platforms are being used to target a majority of the

market: Twitter, Google+, YouTube, Pinterest, blog.

• Facebook is suffering from low engagement from the 14310 ‘likes’

• Large amount of followers for the sector • Competitor ‘likes’:

TID – 18,032 (https://www.facebook.com/TIDaustralia) 1Cover – 3,572 (https://www.facebook.com/1Cover) World Care – N/A Southern Cross Travel Insurance – N/A Allianz Australia – 5,471 (https://www.facebook.com/AllianzAustralia)

5

Integration of marketing, IMC and digital strategy

• Branding -‐ consistent across social and online platforms: themes, colours, slogans, promotions and logos.

• Share the same look and feel to past traditional media such as television commercials

• Content posted on Facebook is often posted on Twitter to construct greater likeness across the brand’s online environment.

• All platforms have a strong connection back to Cover-‐Mores website via content or links.

• Limited connection of social platforms to each other. • Google+ is an exception. • Should be discontinued -‐ little or no engagement from

consumers and brand engagement is non-‐existent.

6

Digital strategy (please articulate)

• Digital strategy is aimed at creating awareness of the brand and encouraging consumers to purchase traveling insurance.

• Large portion of the company’s homepage is dedicated to consumers being able to obtain a quote.

• Customer testimonies are present to scare people into purchasing travel insurance

• Focus on older demographics. (Cover-‐More Australia, 2016a)

• Digital strategy is synced with online and offline marketing reinforcing the brand’s image, increasing brand equity.

7



Strategically consistent, company-‐created brand messages

• All imagery, taglines, slogans, logos and marketing collateral are consistent across all digital and traditional channels to portray consistent branding and are updated in unison.

9

Degree of company involvement in digital and social media

• Digital strategy is somewhat effective • High propriety over traditional media • No traditional media communications for a while whilst some

digital ads in the last month.

7

Digital tools and social used by the company

• Facebook – used to promote blog, update overseas incidents. • Instagram – Travel snaps and competition promotions. • YouTube – Travel tips • Twitter and Google+ – Near identical to Facebook • All channels appropriate but Google+

7

Frequency of use of digital and social media tools

• Content that drives brand awareness is posted at least 5 times a day on Twitter and approximately once per day on Facebook.

• Similar content is posted to Instagram infrequently every 2-‐3 weeks.

• YouTube is used at least once a month. • Google+ has not been used for at least 4 weeks. • Blog updated twice weekly.

8

Examples of content shared

Blog update shared on Facebook • Blog post aimed at the target audience who frequent

destinations similar to Bali. The ideal action of this post is to encourage the target demographic to purchase insurance from Cover-‐More in case they fall victim to Bali Belly and have to cancel planned day trips.

(Cover-‐More Travel Insurance, 2016a)

7



Instagram Travel Snap • Post aimed at young people who visited exotic beach locations

similar to that in the photo. The ideal action is to build brand awareness for Cover-‐More within the demographic.

(Cover-‐More, 2016)

Facebook Photo • Photo aimed at the 18-‐25 demographic to promote

competition to win $10,000. The ideal action is to promote the competition and generate brand awareness within the target demographic.

(Cover-‐More Travel Insurance, 2016c)



Strategic user engagement

• Content not aimed at any group • Engaging with older consumers • Target audience is all overseas travellers shaped by sharing tips

– Bali for young people, ‘Babymoon’ holidays for new parents • Engage with people replying within an hour

(Cover-‐More Travel Insurance, 2016c)

6

Measurement of digital performance

• May be measured on views, clicks and insurance sold online. • Google Analytics used on website

• Facebook Insights used • Post shares, likes or comments could determine success of

social media. (Cover-‐More Australia, 2016c)

8



3.0 TARGET AUDIENCE ANALYSIS

3.1 WHO IS THE TARGET?

Cover-‐More is attempting to increase sales of travel insurance to travellers between the ages of 18 and 25. Roy Morgan research (2016) indicates that there are over 2.2 million Australians who make up the demographic of

18-‐24. A majority of the target audience are unemployed (38.4%) with just under a quarter (24.3%) employed in full-‐time work. This being said, 37.3% of the demographic are employed on a part-‐time basis, suggesting that the target audience may be undertaking some form of further education. The Roy Morgan data (2016) also found that just under 65% of young people aged between 18 – 25 were cutting back spending whilst just under half don’t feel financially

stable. This is no surprise as a majority of the target audience are low-‐income earners with just over 45% earning less than $15,000 per year (Roy Morgan, 2016). This suggests that the demographic is price conscious. This being said the Roy Morgan data indicates that this demographic like to travel with over a quarter taking at least one holiday.

64% of young people like to be well insured whilst 39% don’t like taking risks. Despite this, the Roy Morgan research has revealed that 41.6% of 18-‐24-‐year-‐olds have no insurance of any form (Roy Morgan, 2016).

3.2 THE TARGET AND THE MEDIA

The target market is more likely to use the Internet than any other form of media. Internet usage between Monday and Friday peaks after dinner when 60% of the demographic reported to being online. Between mid morning and before dinner were also strong usage times for this segmentation with usage over 50%. This trend is similar on the weekend with internet usage highest in the afternoon with 53.4% of the target market online. Internet usage after dinner was also high on weekends at 50.2% (Roy Morgan, 2016).

Full Time 24%

Part Time 37%

Unemployed 39%

18 -‐ 24 EMPLOYMENT STATUS

0.00%

10.00%

20.00%

30.00%

40.00%

50.00%

1 2 3 4 + None

Percen

tage of T

arget M

arket

Number of Holidays in the last 12 Months

Number of Holidays in the last 12 months fo people aged 18 -‐ 24



3.3 THE INFLUENCE OF THE INTERNET OF THE TARGETED CONSUMER

The Roy Morgan data (2016) also revealed that the Internet plays a major role in helping people aged 18 – 24 make decisions. The Internet out performed other forms of traditional media such as television and print with 69.8% of the demographic using the Internet to buy insurance. This is compared to 3.3% using newspapers, 7.7% utilising TV and 1.8% by radio.

The data is also similar for media influences when purchasing travel product and accommodation. The Internet influenced 73% of people in the demographic whilst TV only influenced 3.7%. Newspapers were slightly higher with 4.2% and radio only influenced 1% of people (Roy Morgan, 2016).

3.4 WEBSITE OFFERINGS

Each company has a similar web offering in terms of a desktop website with all boasting an easy to obtain quote feature. Most have a mobile optimised website, however Worldcare does not provide consumers with a mobile site (Worldcare Travel Insurance Australia, 2016a). Like Cover-‐More, TID and 1Cover feature the offer to obtain a quote predominately on their mobile site (Cover-‐More Travel Insurance, 2016a, Travel Insurance Direct Australia, 2016a and 1Cover Ltd, 2016a) whilst Allianz is buried near the bottom of their site with only a small CTA near the top that is easily missed (Allianz Australia Insurance Limited, 2016b).



3.5 INSURANCE – HOW MUCH INVOLVEMENT IS NEEDED?

‘Consumers make two types of buying decisions depending on their level of involvement: extended problem solving; and limited problem solving…’ (Grewal, Levy, Mathews, Harrigan and Bucic p. 153, 2015). Many insurance products are classed as high involvement items as the consumer undertakes research from a number of sources such as word of mouth and compares a number of different products on the market (Kerin, McDonnell, De Meyrick, Garrett, Rod, Rugimbana, Hartley and Rudelius, 2008). This is not the case for travel insurance, as a large number of people simply don’t purchase insurance before they travel (Broadhurst, 2016). As such it could be classed as a low involvement item. Traditionally when buying insurance, consumers need to weigh up a number of factors to determine if the policy is right for them. These factors include price, if the product covers activities they are undertaking and general exclusions (Smartraveller, 2016). Digital media can help with the path to purchase by making it easier for consumers to compare the different policies that a company is offering.

3.6 COVER-‐MORE AND ITS COMPETITORS

Cover-‐More continues to outperform its competitors, with the Australian arm of the business achieving growth of 7.1% in the first half of the 2015/16 financial year (Cover-‐More Group, 2016). This being said the industry in Australian remains very competitive and crowded. Cover-‐More has identified five competitors (Broadhurst, 2016), each boasting similar products and services. The following table shows the main competitors and the result of quotes with the same prerequisites for a trip to Thailand for the target demographic.

The costs of the products from Cover-‐More’s competitors make them a threat to the company as Cover-‐More have positioned themselves with a prestige pricing strategy (McClure & Kumcu, 2008).

$82

(Cover-‐More Australia, 2016b)

$71.90

(Tavel Insurance Direct, 2016b)

$63.85 (1Cover Ltd, 2016b)

$66.15 (Worldcare Travel Insurance

Australia, 2016b)

$54.21 (Allianz Australia Insurance Limited,

2016a)



4.0 CONSUMER INSIGHT

Young travellers just want to experience the world on a shoestring budget to maximise the distance of their hard earned money (Roy Morgan, 2016). Travel insurance among the target consumers is seen as an unnecessary expense as they are unaware of the dangers of not having travel insurance (Broadhurst, 2016).

5.0 RECOMMENDATIONS

For Cover-‐More to be successful when targeting Australians aged between 18-‐25 it is recommended that they adopt the following recommendations.

5.1 DISCONTINUE GOOGLE+

Cover-‐More should discontinue Google+ as the platform has little or no engagement from consumers and as such brand engagement is non-‐existent. According to Wright (2015) the platform never ‘gained the traction or popularity necessary to make it succeed.’ Only 420 people follow Cover-‐More on the platform and public post normally only receive one ‘+1’ (Cover-‐More Travel Insurance, 2016b) meaning shared content fails to find its way into consumers feeds (Google Inc., 2016).

5.2 DIGITAL ADVERTING

Cover-‐More should actively target 18-‐25-‐year-‐old consumers by purchasing targeted digital advertising on sites that host Video on Demand streaming services (VOD) such as Foxtel Go and Youtube. This is because VOD continues to grow in popularity in Australia. Telsyte (2016) estimates that by June 2019, 4 million Australians will subscribe to streaming services. This is reinforced by Roy Morgan data that shows that the Internet influences 73.3% of people’s decisions. It has also been proven that digital advertising is more efficient than traditional media (Whittington, n.d.).

5.3 FACEBOOK ADVERTISING Facebook continues to be the most popular social network across all demographics (Plummer, 2015 & Matthews, 2016). According to Sensis Pty Ltd (2015), roughly 32% ‘of Australians who use (social) media follow… businesses… or conduct research about products and services they want to buy…(and are) willing to engage.’ Cover-‐More should take out advertising on the platform, as it is an effective and inexpensive way to reach a large number of targeted consumers. Facebook allows a business to choose their target, reach and audience before showing the advertisement to users who fall into the criteria (Facebook, 2016). This is an effective way for Cover-‐More to raise brand awareness among the target market and drive consumers to obtain a quote and buy insurance.



6.0 REFERENCES

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https://www.1cover.com.au

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August 2016, from https://www.1cover.com.au/travel-‐

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MIc7aLysFxfh

Allianz Australia Insurance Limited. (2016a). Choose a plan -‐ Allianz Travel Insurance. Allianz Travel Insurance.

Retrieved 19 August 2016, from

https://travel.allianz.com.au/quickquote?cm_mc_uid=31201293453314715787221&cm_mc_sid_522200

00=1471578722

Allianz Australia Insurance Limited. (2016b). Travel Insurance -‐ Direct From Allianz Australia. Allianz. Retrieved

18 August 2016, from https://www.allianz.com.au/travel-‐insurance/

Broadhurst, G. (2016). AMB330 Digitak portfolio: Client Brief [Lecture Recording]. Retrieved from

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Cover-‐More at the moment. How good is this?? #travel #ttot #travelsnap.Instagram. Retrieved 18 August

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https://www.covermore.com.au/

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Cover-‐More Travel Insurance. (2016b). Cover-‐More Travel Insurance Google+. Google+. Retrieved 20 August 2016, from https://plus.google.com/+covermore

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on, you can do it.... Facebook.com. Retrieved 19 August 2016, from

https://www.facebook.com/CoverMore/photos/a.310854332298783.88347.127996520584566/1191772

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