What caused a 168-year-old company to completely shift its marketing approach? This data vs. creativity case study will definitely surprise you.
The convention: Play to the consumer's fear
Marketing life insurance traditionally places huge emphasis on playing to the consumer's fear of the consequences of passing away. Historically, fear works wonders for getting to a person's gut and emotions. How will my kids survive if I die? Who will settle my debts? How do I ensure my family is provided for?
New York Life and Havas Worldwide's approach: Use data to disprove this convention
New York Life and its agency, Havas Worldwide, took a different approach. Instead of going along with its category's norm of marketing to a consumer's negative guttural reactions, the company set out to discover what type of people actually buy life insurance. Scared people, right? Wrong.
In fact, what New York Life discovered was that its customers, and potential life insurance buyers, are more optimistic and positive than those who do not purchase protection. They are not the paranoid, jittery consumers that the marketplace had unfairly defined them as.
Richard Notarianni from Havas Worldwide speaks about partnering with New York Life and how they teamed up to completely change the way to approach the market in advertising.