The Challenge

In Singapore, travel insurance is a competitive space, where consumers are spoilt for choice. Bigger players in the market who are more established usually win the hearts of customers.

When travel restrictions were lifted after the pandemic, there was an overwhelming number of brands and choices emerged. Our client not only needed to adapt to the uncertainty of the travel market, but also to compete with major players when demand started picking up.
 
We wanted a nimble-footed strategy that could adapt to the rapid market changes and increase sales. Thus, we focused on multiple touchpoints that a brand would need to build awareness, drive consideration, and sales.

The Strategy

1. Understanding the consumers

Consumers were actively looking for travel insurance products that are flexible, cover all necessary features, i.e., cancellation, refund, COVID-19 coverage, etc. in an insurance package.

2. Deploying full funnel strategy

With a full funnel strategy, we placed an emphasis on search channels to drive consideration and sales. This was to understand the customers and capture all touchpoints throughout the purchase journey.

3. Focusing on conversion

The battle ground is usually at the bottom of the funnel, i.e., Google search and Bing search, where customers tend to educate themselves about the product and make the purchase.

The Execution

1. Facebook & search campaigns

We ran FB and search campaigns on Google and Bing as well as developed Google Performance Max campaigns. We paid attention to ensure the features and offers users are looking for appeal to potential buyers.

2. Keyword research

Given the volatility of the market, we carried out a thorough keyword research to ensure all kinds of intents were covered in the search campaigns.

3. Remarketing campaigns

Unique messaging was tailored for prospects to create urgency. The campaigns were closely monitored to capture new demand for travel trends and increase budgets whenever an opportunity arose.

4. Leveraging the power of machine learning

We deployed all platform best practices and used machine learning to leverage millions of signals and bid to increase efficiency and conversions.

The Results

• Successfully helped the travel insurance brand to establish its presence in a saturated market
  
  
• Sales increased by 5370% within 6 months
  
  
• 85% reduction in CPA