Policy Powerhouse is a UK insurance provider, specializing in difficult to buy non-standard insurance products for niche markets. Their technology reduces the time taken to obtain a quote and purchase cover from hours to just minutes, making it simple and fast to buy insurance at competitive prices.
When launching their new holiday let insurance, Policy Powerhouse wanted to identify holiday let owners in the UK and start communicating with them prior to the product launch. They hoped to gain early momentum and reduce the time taken to win sales once the product was ready.
Their marketing strategy had the following objectives:
1. Identify their target audience and build a database of holiday let owners with properties in the UK.
2. Gather early feedback from the market so that developments could be implemented quickly, maximizing conversion rates.
3. Raise awareness of the insurance product within the holiday let market.
4. Convert sales and gain fast return on investment.
It was important to show a robust customer acquisition strategy and some early sales conversions, as the company was seeking further investment.
“Finding a very specific audience of holiday let owners was the first challenge for Policy Powerhouse. Dux-Soup has been a key enabler to finding these prospects, connecting with them and reaching out to them in a way no other tool can.’
A challenging target market
Due to the nature of the market that Holiday Lets is aimed at, it wasn’t possible to simply purchase a database from list providers. A more complex strategy of database building and targeting activities had to be executed.
LinkedIn proved to be a rich source of data, containing over 3600 prospects, however to manually reach out and connect to each of these prospects was too time consuming to be efficient.
Policy Powerhouse sought an alternative way to harness their target market through LinkedIn, and this is how Dux-Soup was discovered. It was the perfect solution to automate their outreach activity cost effectively, saving hours of time each week. The ability to run campaigns once the product was fully launched, was also an enticing feature.
In the build-up to the product launch, the Dux-Soup Pro plan was used to:
1. Grow a network of holiday let owner connections.This would raise awareness of the brand, and improve visibility of company announcements, product launch news and marketing messages once the product launched.
2. Build an email database of holiday let owners. Dux-Soup’s ability to collect email addresses was instrumental towards building a database that could be used for email marketing.
3. Seek interest from connections that could provide early feedback on the Holiday Lets product.
Within just a few weeks, Policy Powerhouse had created a database of over 1000 prospects, plus also identified affiliate and partner prospects which would come in useful for referral business. Each profile was tagged to allow it to be enrolled into the right campaign.
With a rapidly growing network of connections within the industry, Policy Powerhouse had an organic channel for their product launch news. Email addresses were added to the CRM in preparation for email marketing.
Profile tags, added by Dux-Soup, allowed Policy Powerhouse to automate the enrolment of prospects, by tag, into their relevant campaigns:
1. Holiday let owners - promoting the new product and driving users to get a quote / buy the product.
2. Affiliates – promoting the affiliate scheme which could earn them a referral commission as an added revenue stream.
3. Partners – offering product partnership that would create added value for their customers. This market was also suitable for their cancellation insurance for holiday let owners which they could cross-promote.
Using Dux-Soup, PolicyPowerhouse was able to overcome their challenges:
1. Build a highly targeted prospect database within weeks.
2. Gain feedback quickly from their audience
3. Raise awareness of the product within a new market
4. Generate sales quickly after launch.
“We have been able to build a database that wouldn’t have been possible without Dux-Soup. To a company that has such a niche target market this is invaluable. Add to that the benefit of being able to directly communicate the product with our audience, Dux-Soup has become one of the key enablers of the business. There’s still plenty more scope for the tool, including approaching journalists for PR purposes, making it great value for us. I’d highly recommend the free trial to any small businesses looking to grow their presence and sales.”
“The value of Dux-Soup to our launch program has been exceptional. There’s still plenty more scope for the tool, including approaching journalists for PR purposes, making it a key tool in our marketing strategy. I’d highly recommend it to any small businesses looking to grow their presence and sales”