As a relatively new kid on the block, established only in late 2018 according to The times of the strait, Singlife made a name for itself by nominating Henry Golding as its brand ambassador just one year later. Liam McCance, CMO of Singlife, said MARKETING-INTERACTIVE that being one of the newest on the market among all the local financial services firms, it was important to do things differently and showcase innovation to cut through the marketing noise.
Amid the pandemic, the insurer decided to launch a new brand called Singlife Account to redefine personal finances, turning to Golding to reveal the new offering. Through its efforts in marketing the Singlife Account, the insurer earned a silver medal for Most Efficient Use: Launch / Relaunch During MARKETING-INTERACTIVEMARKies 2021 Award.
Amid the ongoing pandemic that affected the budgets and marketing strategies of many brands, the insurance company decided to launch a new brand, Singlife Account, with a vision to redefine personal finance.
According to Singlife, he found that very few financial institutions allow consumers to access and track all their finances in a simple and consistent way. Therefore, the new app-based insurance savings plan was designed for mobile-first lifestyles and sought to provide consumers with “more immediate returns, flexibility to save or spend, and greater protection in the future. real world”.
The insurance company said its goal for the first campaign was to bring the Singlife account to market, with the goal of reaching 200,000 subscriptions in its first year.
The Singlife account aimed to offer consumers accessibility on the go, more immediate returns, flexibility to save or spend, greater protection in today’s world, and mobile convenience.
According to the company, it moved to the digital media platform as it saw an increase in consumer confidence in its devices and the internet, while traditional media declined. So it discontinued the original ATL plan and instead crafted a strategy around three of the most widely used terms in the industry, “data-driven,” “adaptive,” and “collaborative.”
According to Singlife, it was launched digitally to have complete visibility of every component in motion in your campaign and track its impact on your goals. The brand said it planned and created goals in Google Analytics and Branch.io to track the consumer journey from first impression to Singlife account deposits.
Singlife said it evaluated each phase of the funnel with corresponding targets and correlation studies. According to the company, it identified awareness platforms as those that have the greatest impact on increasing interest in its brand. He then mapped the impact of the top funnel on driving consumers through the funnel to ensure a healthy balance.
The company identified that one of the challenges as a new player was gaining the trust of consumers, as people are cautious when it comes to their money. So he tailored both his media plan and creatives in real time, using social listening, customer feedback, and his data in real time.
Singlife also adjusted its media strategy in relation to public relations activities and changes in the Singapore landscape. According to Singlife, it stepped up its game to boost the brand as the leading financial app when banks cut their interest rates, highlighting their no-lock returns as sentiments around financial security mounted.
Together with its partner agency SearchGuru, Singlife was able to use tools other than click-through rates and cost per action. The company said it worked closely with the data team, creative team and PR agency to engage the brand in conversations about creativity, content and product. According to the brand, they developed stronger creative stories that improved their conversion rates and designed knowledge-driven landing pages. Singlife also added that it adapted and reacted with its media plan through a better understanding of the entire marketing ecosystem of its clients.
The insurance company also said its strong partnerships with Google and Facebook kept the brand at the forefront of driving strong campaigns based on best practices and identifying opportunities.
They then built a dashboard that tracked their organic performance and pay across various goals, broken down by campaign, platform, and time period. Singlife kept track of the daily changes in their campaign and related them to other data points. Branch.io was implemented as the third party mobile tracking tool where you set various goals along the consumer journey that you would use to track and define success.
Singlife said it produced creatives to appeal to different audiences and address community concerns. In collaboration with SearchGuru, Singlife launched its Henry Golding ad where it unveiled the Singlife account. The video was cut into multiple variations to handle creative fatigue. The company also introduced the Singlife account to Facebook, Instagram, search, viewing, YouTube, and app stores.
First of all, according to Singlife, their success metric during the initial phases was increasing brand searches and organic installs as the main indication of brand awareness and positive sentiment towards the Singlife account. The brand said it continued to push awareness campaigns when organic growth was slow.
Second, the brand also said that it released several sets of creatives designed to educate consumers about the Singlife account to encourage people to open the app and create accounts after downloading their app. She added that she identified about a dozen audiences through social listening and about 120 creative pieces were released to gain more relevance in front of students, young adults and working women. The creatives were launched on Facebook, Instagram, YouTube, display stores and apps.
Lastly, the brand said it created a strategy to drive conversions in each phase based on its current position in the KPIs. It did this by using Google UAC, Google UACE, Facebook App Campaigns, and Apple Search to drive installs and in-app conversions for its app. Branch.io gave the brand an overview of each event in the app and allowed it to create custom retargeting segments to take consumers further down the funnel.
The brand said it identified the platforms and strategy based on campaign data and information from each event in the app that would help Singlife meet its goals.
According to Singlife, the common misconception is that for awareness campaigns, effectiveness can only be measured by reach, impressions, and clicks. Therefore, the brand went to great lengths to refute that during its campaign. The brand extensively mapped the impact of its campaigns on its brand searches and installs to identify which platforms correlated with spikes in performance.
The brand added that it used the large amount of data to create correlation maps to measure the potential impact of each platform on its facilities and lower funnel goals.
Singlife said that a 360-degree digital media plan increased interest in the brand, highlighting its offerings while growing its own user base. The brand reported that its brand searches increased as a result of its marketing efforts, translating into an estimated 40% contribution to organic installations.