The key to successful brand campaigns - David Radford, Allianz CMO
Posted on: 19 October 2017
David Radford, chief marketing officer at Allianz, shares his advice on how insurers can design successful brand campaigns.
A strong brand brings many benefits to a business. It can act as a magnet to attract and retain both customers and employees. It is often the principal means for an insurance company to differentiate itself and stand out from the crowd, in an increasingly competitive market. The brand is the signal and the summation of the promise to the market and a strong brand is one that consistently delivers on its promise.
Brand strength can also be driven by successful, strategic brand campaigns. So we were delighted that Allianz UK won the Brand Management Award again at this year’s British Insurance Awards with our 'Dare to Believe' campaign, developed with our partners Paralympics GB and Channel 4. The campaign reached more than 50 million people and helped push prompted awareness of the Allianz brand to over 70%, having been less than 30% as recently as 2012.
However, this campaign was about much more than just driving brand saliency. 'Dare to Believe' signalled who the brand was for: insurance supporting people and businesses who want to move forward, who overcome - often significant - challenges, who have self-belief.
The campaign also provided a boost to Allianz’s 'Inclusive Meritocracy' internal programme, reinforcing a commitment to diversity and personal development.
The days of insurance being just about the underwriting and claims functions are long gone. Today, a company also needs marketing expertise to build and maintain a brand that connects with its customers.
The reason for this is simple. Good marketing ensures the customer is at the heart of everything the business does. This drives a culture of customer centricity and creates value for the business.
Having the marketing expertise to create a strong brand can certainly bring a number of powerful benefits to your business, whatever commercial challenges may come your way. A strong brand can help you build a bond with your customers, where they value what you stand for and trust you to deliver.
Investing in your brand can also be incredibly motivational throughout your organisation, with an effective brand campaign uniting your employees behind a common goal. The 'corporate brand' becomes the signal to all stakeholders of not just what the business offers, but why and how it operates. The brand, therefore, becomes a key driver of an organisation’s culture.
The brand itself can also be a valuable asset for a business. Allianz is rated as the 49th strongest* brand in the world in the Interbrand Best Global Brands 2017 Study and the recently announced joint venture between Allianz and LV also has a brand strength dimension. The venture is subject to regulatory approval, but LV’s long-standing reputation in the personal insurance market in particular was an important value consideration in the decision to form a strategic partnership.
This article was originally published on PostOnline.co.uk on October 9th 2017