CompareTheMarket.com Case Study - making the most of viral marketing

Datamonitor, July 2009, Pages: 17

This case study on CompareTheMarket.com forms part of our new series highlighting best practice in specific areas of financial services.

Scope

- This case study analyzes the key successful elements in CompareTheMarket.coms marketing strategy

- The case study examines how the brand has developed to its current status and why it appeals to consumers so strongly

- The Financial Services Megatrend Framework is used to analyze the effectiveness of customer targeting strategies

Highlights of this title

For insurance aggregators, where they are level on price, brand image is everything. Since January 2009, CompareTheMarket.com has been running one of the most successful marketing campaigns the industry has ever seen. It has proven an immediate success and looks sure to close the gap between it and the two current market leaders.

Key reasons to purchase this title

- Gain insight into the methods used by important industry players to give them a competitive edge

- Identify specific areas for operational improvements

- Capitalize on the knowledge of experienced companies when entering a new niche or market

CATALYST
SUMMARY
ANALYSIS
CompareTheMarket.com: enjoying great success in the insurance comparison
Comparethemarket.com entered the aggregator arena in 2006
CompareTheMarket.com is the third largest price comparison site in the UK
CompareTheMarket.coms innovative marketing campaign captures key consumer Megatrends
CompareTheMarket.com is emphasizing the simplicity of its offering through its marketing campaign
.coms web design
CompareTheMeerkat.com is an excellent foil to the meerkat advertisements
Aleksandr Orlov has a presence on social networking sites
Insurance aggregators are growing in popularity
New entrants will have to compete on price as well as brand image
The growth of the aggregator market could be threatened by an FSA clampdown
APPENDIX
Data Tables
Definitions
The Datamonitor Financial Services Consumer Insight Megatrend Framework
Authenticity
Comfort
Connectivity
Convenience
Individualism
Wellbeing
Demographic Complexity
Financial Intelligence Complexity
Lifestage Complexity
Wealth Complexity
Further reading
Ask the analyst

List of Tables
Table 1: You said that you bought a car insurance policy through a price comparison site. Which price comparison sight was that?
Table 2: When your car insurance policy last came up for renewal, did you visit any price comparison sites to obtain quotations?

List of Figures
Figure 1: Aleksandr Orlov has become a celebrity
Figure 2: A brief history of online insurance aggregation
Figure 3: There are five clear leaders in terms of car insurance sales
Figure 4: CompareTheMarket.com is challenging Confused.com
Figure 5: Adverts are very important in attracting custom
Figure 6: CompareTheMarket.coms buzz-word is simple, but effective
Figure 7: 443,257 people have become fans of Aleksandr Orlov on Facebook
Figure 8: 15,570 people follow Aleksandr Orlovs every move on Twitter

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