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Mother Financial
Tackling the banking sector

The problem

Mother Financial is a short-term insurance offering focused on monthly motor service plans and warranties. While the motor industry has large market potential, current economic times mean that people are finding shorter term monthly premiums more affordable than long term car repayments. As they were a new player in the industry, Mother Financial didn’t have the internal capacity to get all the leads they needed to grow their business. They also needed highly specialised short-term insurance leads, as they were looking to take advantage of this very niche space.
Mother Financial

The solution

Using the tried and tested 3Way process, we ran the channels we felt would work best based on past experience with similar products. From there, we optimised the campaigns based on the sales and collections data received from the client. Working with the call centre directly, we were able to make sure that the agents were using the correct intro scripts and objection handling.

The challenges

We quickly realised collections on some campaigns were not performing, so we turned them off. While this caused some volume issues for a certain time period, we optimised other lead sources in order to compensate. Another challenge for the client was dealing with multiple people for leads. Being able to manage all the affiliates in our side made the process more streamlined, plus we were able to slow down the non-performers and ramp up the others as and when needed. Overall, we helped keep the overall lead volumes consistent so that the sales process was more manageable.

The results

Using various channels including AVM, SMS, Facebook, Google, Warmup and surveys, we were able to secure Mother Financial around 3000 – 5000 short-term insurance leads a month. Over the past two years, this has meant a total of over 60 000 opt-in leads and 200 000 cold leads. Conversion rates are highly dependent on lead source, with some of the best short-term insurance lead sources converting north of 25%. On average, monthly conversion rates range from between 12-14%, and Mother Financial generates between 600-800 sales per month directly from the leads we provide.
4000

Average opt-in leads per month

8333

Cold leads per month

700

Average sales per month

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