On average, 11% of auto insurance policyholders leave their insurance company in a year. Currently, 39% of Liberty Mutual customers are shopping for a different insurance carrier. The category’s advertising norms focus on “Switch & Save” price-only messaging, distracting from the full value insurance companies deliver.
But the brand rarely has an opportunity to prove the quality of its service, since only a small fraction of policyholders make a claim each year. Liberty Mutual needed to build customer retention by building brand affinity and value.
Customer research showed where Liberty Mutual had an immense amount of credibility and where consumers had an immense amount of pain: worrying about what they can’t control.
Psychographic analysis of customers revealed why they carry around so much worry. When it comes to life’s biggest worries, Liberty Mutual’s over-achiever customers only trust one person to get the job done: themselves.
We launched MasterThis, a unique content marketing brand dedicated to resolving customers’ worries by making them the masters on all of life’s biggest worries, because “you worry less when you know more.”
MasterThis is a trusted publisher-style brand of content, which was presented to policyholders at the times they needed to grow their personal knowledge base and expertise the most. MasterKits, which are collections of content on a given worry, are sequential guides to take the user from worry to mastery.
To ensure the MasterThis brand didn’t appear as biased or boring information from “another insurance company,” we partnered with prominent digital and podcasting brand HowStuffWorks, lending our content credibility, a cool factor and important editorial expertise.
Then, we went above and beyond the claim to show customers “Liberty Stands With You,” using this unique approach to content throughout Liberty Mutual’s customer touchpoints: email, social media, advertising, direct mail, voice assistants, sponsorships and more. Content is served based on a combination of first, second and third-party data to get customers the right content, in the right context, at the right time. In other words, we add value in a way that genuinely reduces policyholders’ worries and doesn’t annoy them.
Customers are loving the opportunity to eliminate their worries and become masters of the topics they had the most anxiety over. In return, they showed their affinity for Liberty Mutual in ways that dramatically exceeded our goals. Compared to previous efforts, time on site increased 800% (4 times our target goal), bounce rates were cut in half, 90% of customers were reached, and 75% of MasterThis users reported that they were likely to recommend Liberty Mutual.
Meanwhile, the amount of mastery policyholders have gained is leading to a lot less worry… and a lot more belief in the brand promise: Liberty Stands With You.