Finding the Right Audience for Renters Insurance and Driving Results.
- Unlike other insurance products, the U.S. 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 a large majority of the impressions (70%) are seen by home owners and not by 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 and Implementation
- Strategy for Allstate: Innovate and outsmart.
- 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.”
- Determined 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.
Allstate Renters insurance saw a 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.