Local marketing chief says the business will invest in more top of funnel activity aimed at elevating the brand's standing
Brand-led advertising is firmly on the agenda for the Allianz A/NZ team after the local business became a pilot market for the group’s global brand transformation.
Allianz A/NZ chief market manager, Nicholas Adams, told CMO the insurance giant is working on a plan to overhaul its brand look and feel globally, as well as transform the way it undertakes advertising by elevating messaging and approach to be more emotive and brand-led.
Historically, Allianz has focused on what Adams described as ‘level four’ advertising, or creative aimed at triggering customers to take a direct action. This lies in contrast to top-of-the funnel activities aimed at building reach, interest and emotional engagement. Messaging previously tended to focused on things such as save 10 per cent or 15 per cent.
"We never engaged in level one advertising to position the brand at a global level, or level two, focused on local brand building. In fact, it was rare to advertise at level three, with product proof points,” Adams explained.
“Next year, we’re investing into all three levels.”
Australia is a pilot market for the global brand transformation, and the local team has been working with Allianz marketers globally to build out the approach and more brand-oriented positioning. Adams said his team will then pull that down into A/NZ campaigns and executions aimed at elevating the brand’s standing locally.
“We’re going to make substantial investments into level two advertising in 2021,” he said. “We’re going to invest in advertising with product proof points, supported by level four messaging. It’s really changing the structure of our approach and ensuring we will be more integrated globally.”
In addition, Allianz is investing in a new customer data platform (CDP), which will help to further target messaging to customers.
Adams said the decision to invest in strategic brand advertising wasn’t taken lightly. “This took a long time to sell in, as we were so anchored on level four and knew discounting works,” he said. “It’s a leap of faith for the business to do this.”
By investing in more strategic brand activities, Adams said Allianz expected to improve its customer Net Promoter Scores, along with brand consideration, and drive better efficiency of level four advertising.
The brand work is just one of the ways Adams is playing a direct role in the transformation of Allianz’s marketing locally and globally. He noted Allianz’s brand metrics had made it clear substantial work needed to be done in order to lift engagement, particularly with consumer customers.
“We have very high brand awareness of 80 per cent, which is comparable with our competitors. But consideration is relatively low – 45-46 per cent. I call it the ‘yeah/nah’ factor,” Adams told CMO in a recent interview. “Yes, consumers know who we are, but they’re not converting. Our job as marketers is to make this a ‘yeah, yeah’ company and get us on the front foot so customers are considering us for insurance.”
To accomplish this, Adams has undertaken a digital and technology capability overhaul, building out a data-driven customer insights engine. Alongside this, he’s worked to transform the marketing team via a walk, run then jump approach, moving from foundation skills into brilliant basics, then towards North Star activities.
You can read more about how Adams is achieving this transformation in our in-depth CMO profile here.
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