The challenge
Hiscox, known for its bold red-and-black ads, shifted from brand-building to lower-funnel acquisition campaigns. While this spiked short-term sales, it led to declining brand metrics and rising acquisition costs over three years, eventually stalling growth.
Ready to reignite their momentum and get their mojo back, Hiscox was prepared to invest in the right solution—one that would intelligently use their budget to cut through in a low-interest category and reach the right people at the right time.
Together, we boosted brand and product visibility through highly detailed audience understanding.
The solution
At first glance, it seemed that Hiscox catered to a niche group of small business owners. However, after conducting our specialised research, we found that their customers shared traits with more general audiences, differing primarily in their awareness of the risks associated with being underinsured.
With 80% of SMEs underinsured and 91% unaware of the associated risks, we recognised that Hiscox could reach nearly every small business owner by raising awareness. This shift in insight transformed our strategy from targeting a specific audience to differentiating ourselves in a low-interest category, while emphasising the importance of high-quality business insurance.
The impact
The campaign boosted spontaneous brand awareness by 40%, rising from 23% to 32% in just nine months. This surge made 11% of respondents more likely to say that Hiscox simplifies business insurance, and 9% more likely to view them as champions of small business owners.
Also, as an intended by-product, Google searches for “Hiscox insurance” and “Hiscox business insurance” spiked by 50% year-on-year, driving a powerful increase in quotes and sales.
Hiscox | Ed Birth, Head of Brand Marketing
“By taking the time to properly understand what makes our audience tick, we’ve been able to deliver a media campaign that punches significantly above its weight.”