Ideas & musings about consumer behaviour

What is causing Aviva to fall into third place in the Irish health insurance online market?

 Author: Marie Sheehan

Laya Healthcare is increasingly becoming the most attractive option as an alternative to Vhi, replacing Aviva who traditionally held the second place spot.

Aviva’s scores are down
The Global Reviews sales and acquisition funnels shows how consumers are moving through the online pathway to purchase and choosing one provider over another. As you can see from fig 1, Aviva’s unprompted brand recall score has dropped four percentage points from 69% in August 2014 to 65% in February 2015.

Their shortlisted score or repertoire of brand has also fallen from 73% to 66%, and the percentage of consumers who choose Aviva as the one single brand they prefer has dropped from 28% to 21% over the same six month period.

Avivas funnels

Fig 1: Aviva’s Sales and Acquisition Funnels Source: Global Reviews Digital Marketing Effectiveness studies Feb 2015 and Aug 2014

 
 
Not enough Irish consumers are visiting Aviva’s site
As you can see from Fig 1 only 8% of consumers are visiting aviva.ie (compare this to 50% for Vhi’s website and 34% for both Laya Healthcare and Glo Health websites).

We know from the results of the Global Reviews Digital Marketing Effectiveness (DME)* study into health insurance providers in Ireland, that the propensity to actually purchase increases if consumers visit the brand website.
Irish consumers are far more likely to choose the provider whose website they visit on the purchase decision journey.

Aviva is relying too much on brand awareness.
Aviva’s retention rate is dropping

53% of current Aviva customers would renew with them again, however this percentage has dropped significantly from 83% in August 2014.

The search engine is not delivering for Aviva
The most used the search term by Irish consumers looking for a health insurance provider is “health insurance Ireland”.

Even though Aviva has a strong presence on the search engine results using this search term (see fig2 it’s the second ad and the highest ranked organic SEO result) the majority of consumers looking for health insurance online in Ireland are still not clicking on Aviva and visiting the Aviva website.

Aviva google

Fig 2: Google Search Engine Results page one for search term: “health insurance Ireland”

What’s interesting to note is that 29% actually clicked on Laya Healthcare from this results page – either on the organic results (which is interestingly listed underneath Aviva) or the “Healthcare from €9 a week” ad on the right hand side. In fact Laya Healthcare scored higher than any other brand.

Even though Aviva has a presence on a Search Engine; people are still not clicking on Aviva. In fact the consumers who choose Aviva as their provider are not doing so because they visited their website.

If you would like to know more please contact us.

International best practice

To find out more about what best practice looks like and those who are achieving it view our webinar: Health Insurance Providers in Ireland – Digital Sales & Marketing Effectiveness

Health insurance webinar

* Digital marketing effectiveness
The Global Reviews Digital Marketing Effectiveness (DME) programme focuses on the Discover and Consider stages of the online purchase journey.

Digital Marketing Effectiveness
The DME identifies both the barriers and enablers to how and who consumers shortlist in the online purchasing decision journey, what drives final preference and crucially WHY your potential customers (but now lost opportunities) pick another brand over yours.

We use life-like methodology which virtually places companies in the homes of 50,000 ‘In market’ consumers in the UK annually.

DME process

Adopting both a passive and claimed research approach, we bridge the gap between claimed search behaviour and actual search behaviour.

Using cutting edge technology we measure every key stroke, link clicked and website visited. Most importantly, our methodology investigates and explores WHY consumers search and research the way they do.

We can provide you with a unique insight into how ‘in market’ consumers research and make decisions about your brand, your products and your competitors online and will help you to answer the following strategic marketing questions:
1. How integrated is your offline (traditional) marketing with your digital strategy?
2. Why are competitors winning the online prospects you are losing?
3. Who is stealing the prospects that short listed you?
4. How can you reduce lost opportunities and increase sales?

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