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New advertising initiative is timely
Insurance & Risk Professional, June 2009 The recent turmoil in world financial markets has been a sobering time for all. The confidence driving growth over the past decade has evaporated, along with many investment returns. Of course, this lack of confidence creates a domino effect; the reduction in available capital affects a business’ ability to operate and grow, let alone survive. A softening of demand for products or services places further strain on that business. Right now, decision-makers in most businesses across Australia would be facing these issues front and centre. Further to this are the recent seasonal tragedies encountered by many Australian homes and businesses – the extreme bushfires in Victoria and New South Wales, and the flooding in Queensland. It is times like this that people discover how much they need the insurance expertise of a NIBA broker. And it is time we reinforced to the wider community and marketplace who NIBA members are. Over the past 12 months we have been rolling out the first stage of an updated member identity. During this time we have also been developing the second stage, in consultation with other bodies such as our advertising agency, Adcorp. A thorough process has been conducted to properly establish the future market positioning of NIBA brokers. For this next stage of our marketing, we are proposing to run a national advertising campaign. NIBA President Steve Lardner and I recently unveiled the campaign on our Sundowners visits around Australia. It was greeted with much enthusiasm by those present. While we are a strong organisation, the public’s knowledge of who NIBA brokers are and what we do is limited. In appealing to the people who buy our products as well as to the wider community, we can talk of providing a better level of service and increase the profile and stature of the NIBA member. As part of this second marketing phase, we are proposing to put NIBA on television. Being a national initiative, we need to make our budget function effectively across all territories. To lift the national awareness of NIBA, we need to invest for now and in the future. The campaign has been designed to specially target the business decision-makers of purchasing insurance in small to medium-sized businesses throughout Australia. The television commercial would be shown on both pay TV nationally and free-to-air television in specific markets. However, it is simply not possible to sustain an effective television campaign within the given budget. To address this, we have chosen radio to extend the reach of our message as broadly as possible and as often as possible. Of course, we must also consider the internet. While all our other media would be driving people to our website, we will also enhance our search engine optimisation for those already looking. With 76% of our target audience using Google, we will ensure that NIBA is first line of sight and easily identified. NIBA’s corporate commitment to this stage of the campaign is $1.3 million, but we will only move forward if we receive a further $500,000 from our members. This top-up is crucial for the national advertising budget to be properly funded. Importantly, NIBA brokers need to value their contribution to this campaign. After all, its been developed in response to their wishes over many years to launch a major national marketing initiative. Using the collective strength of our members, this is not a substantial amount. In fact, with contributions from as low as $1500 for small brokers, it represents excellent value-for-money. It's time to act. We urge all members to pledge their support so that the Board can make a decision to move ahead with the campaign. For more details visit www.niba.com.au or call me personally at NIBA. |
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