The current UK car insurance advertising campaign by Norwich Union (soon to be Aviva) is great (watch TV ad).On face value it could be seen as rash to let potential buyers, when getting a quote from their website, see how their prices compares with other cheaper competitors.
To me it shows that Norwich Union really understand how consumers behave when it comes to buying car insurance.
They know that they will never be the cheapest. They know that car insurance is bought mainly on price. They know that most people shop around on-line before they buy car insurance, often using price aggregators (Go Compare, Money Supermarket, etc).
Armed with this insight they have faced the issue head-on and deliver a great brand experience on-line.
How effective this campaign is remains to be seen but I am sure there will be sufficient consumers who like the brand promise and are less price sensitive. These consumers will reward Norwich Union’s honesty and buy.
I think it is naïve for brands to ignore the fact that consumers are referring on-line more and more to check out pricing before they buy. The credit crunch will accelerate this behaviour.
Many categories could learn a thing to two from Norwich Union.
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