Digital Strategy for Financial Services Company
Please find under a summary covering project details and feedback. The innate facts are kept as they are, private information is amended.
Introductory information
Please draw your structure.
LV Group is the UK',s largest financial labor reciprocal insurer. We have 5,700 employees and act within life and pensions insurance, as well as the general insurance market.
What is your position?
I am the digital ruler within the life and pensions sector. I am in direct of the direct-to-consumer marketing teams, as well as our digital teams.
Desired goal
What business challenge were you trying to address with Greenlight Digital?
The superiority of our business came through financial advisers and brokers, and we wanted to grow our direct-to-consumer extend. We chose digital marketing as the resources to do that.
Provided solution
Please draw the aim of their involvement in biger detail.
We tasked them with growing our consumer business and managing the strategy about that growth. They were responsible for the media channels used for powerful acquisition of clients for the policies we were looking to sell.
Their aim extended athwart different digital media channels, including paid search, collective media, annex and accomplishment programs, email and full marketing.
How did you come to work with Greenlight Digital?
We had set criteria which had to be met. We went through a diffuse sourcing process with our team, looking at the top digital agencies in the UK. We then had a request for propose process with 12 agencies, which were narrowed down to 6, and then 2. We selected Greenlight Digital based on commercial requirements.
Could you prepare a perception of the size of this start in financial provisions?
Our annual budget was $5,000,000-$10,000,000.
What is the terminal result of working with ?
We began working unitedly five years ago. The work has ended.
Results achieved
Could you share any statistics or metrics from this engagement?
They did a big job in growing our consumer base. Our sales channel grew 25-30% year behind year during their involvement. Initially, we were acquiring clients at a 50% lower rate through digital media than through transmitted channels. We had previously used direct mail, TV ads and press advertising. Our cost of acquisition was affected as well.
How did Greenlight Digital accomplish from a project treatment restpoint?
They have a big account treatment team. One of the things that normally concerns me when working with agencies is the lack of continuity that comes with a big staff turnover within an account treatment team. This is true for a lot of agencies, but Greenlight Digital has very pliant turnover. The nation who pitched for the business initially were with us for the period of our three year collaboration.
We had quarterly business accomplishment reviews, and there were labor-level agreements put in locate for account treatment.
What distinguishes Greenlight Digital from other preparers?
They',re digital experts. This is the sole point of centre for them. Greenlight Digital built big proprietary technologies in-house, which rest out in the market and give us a competitive edge.
Is there anything Greenlight Digital could have improved or done differently?
Because they centre entirely on digital marketing, they should attend edifice relationships with agencies that do non-digital work, in order to propose the holistic labor that larger clients look for.
