Reader's Digest Equity Release
Established Brand Launches Equity Release Offering
The Brand
Reader's Digest has been a household name for over a hundred years. Their guides were a must-have resource for a generation. The information offered was trusted by many thousands of subscribers, and it's this kudos, in conjunction with our strong DRTV strategy, which enabled them to successfully enter the equity release market.
100 year-old brand
Leverages Kudos to offer Equity Release
...Challenging established sector leaders
The Challenge
As a trusted brand they were well placed to launch a financial services offering, but faced considerable competition from long-established market leaders (Key Retirement and Age Partnership). As the equity release market grew, they needed to be highly efficient with all lead acquisition spend.
The Solution
We chose to launch with a modest budget, testing and refining as we gathered data. By utilising client data we establised a strong and reliable response model - this gave the client confidence to both scale up spend and invest in new, high end creative. Monthly spend increased exponentially, with leads and sales following suit.
Data-driven Confidence
The Results
Initially testing helped us develop a reliable response model, accurate to 5%. Exponential growth followed, with an 85% increase in customer acquisition year-on-year. Despite the ambitious growth plans, we managed to keep CpLs within target. This helped the client to achieve a 12% share of a hugely competitive sector.
“Chase Media understand how to use TV effectively. Their test and learn approach gave us the confidence we needed to increase spend and make considerable inroads into this busy sector. When we wanted to scale up they were able to deliver leads without an increase in our CpL - this was key to our success"
