LV= flags mutual status with primetime activity
LONDON - Insurance brand LV= is refocusing its marketing strategy on brand-led TV ads in prime-time slots to improve awareness of its mutual status.
The insurer, which rebranded from Liverpool Victoria in 2007, has traditionally used daytime direct response TV advertising. However, marketing director David Radford said it was necessary to promote LV='s brand credentials more explicitly.
‘One of the key differentiators for LV=, compared with many financial organisations, is that we are a mutual not a
plc,' he said. ‘The timing is right now to promote more heavily the LV= brand and what it stands for.'
This follows attempts last year by the Association of Mutual Insurers (AMI) to capitalise on public anger at the financial industry by getting its members to promote the rewards of mutuality.
As a result, LV=, Royal London, Royal Liver and Scottish Friendly, among others, agreed common messages to highlight the benefits of mutuality online, in customer literature and in direct marketing.
With price-comparison websites spending increasing sums on marketing, insurance brands are being forced to work harder to improve awareness. This has prompted LV='s decision to buy space during prime-time TV ad breaks, rather than cheaper multichannel slots.
The 40-second TV spot, by incumbent ad agency Designate, introduces the strapline ‘If you love it, LV= it'. It aims to explain to consumers how LV= can assist them in protecting the things they care about, including their health, family, possessions and pets.
The campaign, which begins on 15 April, will be supported by print, outdoor, direct marketing and digital activity. LV= will also continue to expand its portfolio of sponsorship properties, which includes the LV= County Cricket Championship, the Anglo-Welsh rugby union tournament, and rugby union club Harlequins.
The change in strategy is intended to move LV= upmarket, away from entry-level brands such as Admiral and Elephant, instead placing it in competition with the likes of Churchill, More Th>n and Aviva.
More Th>n and Churchill have both adapted their ads for direct-response and brand-led, primetime formats.
This article was first published on marketingmagazine.co.uk
- Senior Marketing Manager Cutis Developments £50,000 - £60,000 per annum , Victoria, London (Greater)
- User Experience Designer and Researcher Required | 3 Month Cont Salt £300 - £450 per day, City of London
- Digital Lead | Contract | London | Salt £400 - £1000 per day, City of London
- Comms Manager - Leading Alcohol Brand at Top Media Agency Ultimate Asset £35000 per annum + great benefits package, London
- Senior Account Manager - Branding Consultancy and Design Agency - London Spectrum £30,000 - £40,000, London (Central), London (Greater)
- Tesco moves £90m media account to MediaCom
- Viacom pulls plug on C5 sales: more than 90 jobs to go
- Battersea's digital dog 'follows' shoppers in outdoor campaign
- Lego launches Facebook campaign that asks kids to create a kronkiwongi
- Pedigree launches global 'feed the good' campaign with BBDO
- Twitter hunts for UK agencies