How Acko garnered success with an OTT-first advertising approach
The impending decision to buy insurance can be a daunting one for most. The common consumer finds it difficult to understand the basics, thereby feeling mistrust towards the whole process. And this is just one of the factors. A 2019 study by PWC says that understanding of a policy’s features and terms, followed by complex and lengthy processes, are the biggest obstacles when it comes to insurance purchase. 1
Online-first general insurance brand Acko’s USP tackles exactly this category challenge. The brand – whose flagship offering is car and two-wheeler motor insurance – makes the process effortless for its customers through the use of technology.
Going the OTT way
Being an online-first brand, Acko naturally wanted to drive awareness and purchase intent among internet audiences. With a presence across all major Indian cities, the brand wanted to reach the relevant audience from these locations. Choosing to go with an OTT-first marketing approach, it partnered with Disney+ Hotstar in 2019 for a media-efficient advertising strategy.
A two-pronged strategy
Acko has always been very clear about its advertising objectives – to drive awareness and purchase intent amongst online audiences. It tackled these goals by reaching relevant audiences on Disney+ Hotstar’s live sports and general entertainment content through a sharp message: Get your car insured in two minutes. The same message was tweaked for the biker audience. On its part, the online streaming platform helped with sharp targeting by reaching interest-based cohorts at a granular level.
First off, Acko leveraged live sports to build reach and awareness at massive scale. The brand drove sponsorships and maximised share-of-voice by picking up sponsorships in cricket tournaments.
When it came to general entertainment content, it drove purchase intent by retargeting its message to the same cricket-watching audiences, albeit in months when there were no major live cricket tournaments. For retargeting to the car and bike audiences, the brand dipped into Disney+ Hotstar’s vast inventory of products and ad formats, choosing to go with a mix of pre-rolls and mid-rolls for maximum effectiveness.
A bold move that paid off
The retargeted audience recorded a significant 9% uplift in aided awareness and a 6% increase in purchase intent metrics, with a 95% confidence level over the non-retargeted audience. 2
Additionally, Acko saw a cumulative reach of over 60 million built across multiple tournaments on live sports, with a 35 million+ addressable retargetable pool created on entertainment.
The post-campaign numbers all point to how Acko’s media strategy on Disney+ Hotstar has proved to be a huge success.
Sources:
1. https://www.pwc.in/assets/pdfs/consulting/financial-services/competing-in-a-new-age-of-insurance.pdf
2. Disney+ Hotstar Internal BLS
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