Cover More Travel Insurance
Assessment Digital Audit and Planning
Portfolio
AMB330: Assignment 1
Name: Joyce Chan Pui Ling
Student ID: N9566708
Tutor: Elizabeth Buchanan
Tutorial Day/ Time: Wednesday/ 3-5pm
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TableofContents
1.0 Introduction.............................................................................................................3
2.0 Target Audience.......................................................................................................8
2.1 Competitor Analysis...................................................................................................9
2.2 Consumer Insights....................................................................................................10
3.0 Recommendation......................................................................................................10
4.0 References.................................................................................................................11
5.0 Appendixes................................................................................................................13
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1.0 Introduction
Cover-More Travel Insurance (CMTI) is an Australian based company which has been
building strong relationships with travellers around the world for 30 years. It is one of the
Australia’s most popular travel insurance that provides daily travel safety to clients (Cover
More, 2016). CMTI has a relatively 40% market share of the national travel insurance and is
expecting to multiply further.
CMTI goals are to bring brand awareness and brand image for future potential customers.
Thus, CMTI focuses on direct sales and invested more in brand. It targets adventurous and
risk takers travellers who are aged 18 to 25. However, in the keen competition in the
Australian travel insurance market, CMTI has five main competitors. Therefore, it is
important for CMTI to suggest unique strategies to outstand from their competitors.
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MODULE1:DIGITALMEDIAAUDIT
Client: Cover-MoreTravelInsurance(CMTI) Date:20thAugust2016
Criteria Examplesorobservations Rating1to10Broadvisionofhowdigitalmediacantransformthecompany
CMTIusesdigitalmediatoincreaseawarenesstothetargetedyoungadultsthrough their website, Facebook, YouTube, Twitter and Instagram. This isachieved throughnumerous contentmarketing, suchas theuseof imagesand competitions. Websites are used to build relationships and providedetailed information, for example tips and advice and latest news.Testimonials are displayed on their website, boosting awareness andcredibilityasthirdpersonreviewstothecompanyarepowerfulmotivators.However,mobileapplicationplatformsarenotavailable,decreasingvisibilityand accessibility to customers who prefer receiving quotes on phoneinstantly.Therefore,theintroductionofmobileapplicationforthecompanyisproposedtoreachnewclientbase.
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Integrationofmarketing,IMCanddigitalstrategy
CMTI uses social media to advertise their insurance. Interesting images,videos andblogs areposted to capture future clients’ attention.However,the message is not consistent across the traditional and the digitalplatforms. While traditional advertising emphasises on the benefits ofgetting insurance, digital marketing focuses more on motivating youngtarget audience to participate in contests and upload footages of theirholiday experiences. Yet, due to the growing preference towards onlinereading, companies, suchasChoicemagazine, combine theuseof the twoplatforms. Having a consistently strong message across all platforms isessentialtoavoidconfusionfrompotentialcustomers.
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Digitalstrategy
CMTI increases awareness by communicating and attracting customers topurchase insurance through social media. The company engaged withcustomers by giving out cash for the best travel video which encouragedmore people to participate in the contest as it involved word of mouthstrategy. The company also shared motivational quotes and inspirationalvideostowhichfriendscantagoneanother.CMTIincreasebrandimagebyinvesting in Google advertisement to entice customers to purchase travelinsurance.
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Strategicallyconsistent,company-createdbrandmessages
CMTI’s brand identity is inconsistent across all platforms. The name isconsistentthroughoutallmediumswhichiseasilyrecognisedbycurrentandfutureclients.YetthelogosforInstagramandYouTubeareinconsistent(seeappendix1).Also,theabsenceoflogoonsomeimagesfailstopromotethebrand’s authenticity. CMTI brandmessages are inconsistent because theirFacebook page creates a sense of community by deliveringmessages likenewsandtraveladvices.Itshowspositiveandmotivationalquotestoinspiremore people to travel using their services. However, thewebsite providescomprehensiveinsuranceplansandblogsfrompastcustomers.
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Degreeofcompanyinvolvementindigitalandsocialmedia
CMTI has shown good knowledge through Facebook and Twitter as theyactivelykeeptheircustomersupdated.Theyprovideoutstandingcustomerserviceby allowing customers to enquire on Facebookmessage.However,CMTI does not have Facebook advertisement to enhance audiencetargeting.CMTIcreatedareliablewebsiteforclientstoreceivespontaneoustravel insurancequoteandresponsiveYouTubeand Instagrampagewherethey have good visual platforms. It also has interviews about travellersexperiencingCMTI.
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Digitaltoolsandsocialmediausedbythecompany
CMTIusessocialmediatocreatebrandawarenessandimages.
1.FacebookPage:Itengageswithcustomersbypostinginterestingdestinationsandabletosendinstantmessagetorepresentative.
2.YouTubechannel:Createscontentthroughonlinecommunitiesbyuploadingtestimonialsandtravellingexperiences.
3.Website:Itprovideseaseaccessibilityforclientstoobtainquoteonlineandin-depthdetailsaboutthecompany.
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4.Instagram:Itdidnotfocusontheobjectiveandmissionofthecompanybutmoretovisualization.5.Twitter:Itprovidestravelhacks,tipsandadvice.Italsopromoteliveeventsandnewsforclients.
Frequencyofuseofdigitalandsocialmediatools
CMTI updates their Facebook once everyday except during the weekendsand Twitter is the dominant channel as more updates updated 10 to 13times daily. Twitter’s news and updates are similar to Facebook page butCMTImaximizesthebenefitsofsocialsharingbycustomisingthemessagesbemore engaging. YouTube videoswere uploaded everyweek to reach aworldwideaudience.However,Instragramupdateseveryonceortwoweekswhichisdifficulttoenhancebranding.
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Examplesofcontentshared
CMTIannouncedimportantnewstotravellerswhoareconcernedormaybeaffectedbythevolcano.Thetargetaudiencewouldbeworkingadultswhotook leave in August and are searching for sufficient information abouttravel insurancepolicies. The ideal action is to allow customers know thatCMTIisreliable.
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ThispiecefromFacebookpageisgivingtipsofwhattododuringwinterforNew York travellers. It linked to a blog for readers to have a widerperspectivefromablogger’sexperience.ItstargetaudienceisfortravellersvisitingNewYork for the first timeorwho is seeking for travel inspiration.TheidealactionistoencouragepeopletoexploretheincrediblenessofNewYorkbyreadingthearticleandimages.
This is a picture of a woman enjoying a breathtaking sunrise on themountain. Its target audience is young travellers who are active in socialmedia and are desperate to win cash. The ideal action is to create brandawareness and image by having a personal touchwith the customers andenticethemtotagtheirfriendswhohaveexperiencedinvideoediting.
Strategicuserengagement
ItappearsthroughtheirFacebookpagethatthebrandiscurrentlytargetingaged 18-25 young travellers with many post and testimonials of youngtravellers exploring the city and sharing their journey. CMTImonitors andrespondstocommentsandquestionsposted inaprofessionalandpositivemanneronFacebookwithinanhour.Thushasatotalof84%responseratebased on Facebook insight. Overall, CMTI has shown strategic userengagement.
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Measurementofdigitalperformance
CMTI collects its data through Facebook insights and analytics includingFacebook likes and post reach. The reach tab on Facebook allows thecompany to monitor which posts have more engagement based oncomments,likesandshares.ThiscouldhelpCMTItounderstandtheirtargetaudience.
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Totaloutof100
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2.0 Target Audience
Cover More Travel Insurance’s target audience is aged 18 to 25 who live in the city and love
exploring the world. They belong to the look at me category that seeks for exciting life and
tends to be more active when they travel (Young and carefree, 2011). A trend occurs 75.6%
of aged 18 to 24 prefer seeing nature and 54.6% of population agree taking risk (Roy Morgan
2016). Based on Roy Morgan’s data, this target is the best option as young travellers usually
have lower income, want to be secure when travelling and guarantee maximum compensation
in case of accident. Otherwise, travelling can become expensive if unpredictable situations
occur (Hristovska and Mirceska, 2010). This is because 61.6% aged 18 to 24 people are
employed part time and 69.8% of aged 18 to 24 often use the Internet to search for a suitable
insurance. It is proven that 94% accessed the Internet through a desktop or a laptop computer
(Australian Bureau of Statistics, 2016). The peak hour to reach clients would be weekdays
which is after dinner ( Roy Morgan, 2016).
CMTI is a high-involvement decision product because customers are unsure about the
services provided. Wrong decisions will be made by customers when processing information,
for example misperceive the risks or reluctant to make alternatives and may face budget
constraints (Ulbinaite and Lucinskiene, 2013). Customers will decide which travel insurance
has better coverage in case of unforseen circumstances, for example personal liability. Later,
customers evaluate the options and narrow them down. This research may include
testimonials, website and word of mouth strategy. However, some customers avoid
purchasing travel insurance because they only take short breaks. They take this opportunity to
spend and escape for a spontaneous weekend.
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2.1 Competitor Analysis
Competitor Potentialimpact
Travel
Insurance
Direct
TIDFacebookandTwitterarenotactive.However,TIDhas theirownapplicationplatform
which could upturn real-time engagement with customers. TID has better policy and
coverage.Thus,customersarewillingtoinvestinTID.
1cover 1coverhasupto25persongrouptraveloptionsandhasbettercoverage. It ischeaperto
buycomparedtoCMTIbyAUD2.11for2days.Itssocialmediaareinactiveanddonothave
competitionstoenhancecustomerengagement.
Worldcare Worldcare does not have socialmedia except forwebsitewhich gives an opportunity for
CMTItoattractmorecustomersIthasbetterpolicyandofficecanbefoundconvenientlyas
theyhavemanybranch.
SCTI SCTI premium is from $15which is reasonable. SCTI does not have a Facebook page but
havegoodcontentonYouTube.Thevideogavesufficientinformationandlifetestimonials.
However,YouTubeisnotactivebecausetheirlatestvideowas3weeksago.SCTI’swebsite
doesnotprovideacontactformforcustomerstoinquiretheirneeds.
Allianz Allianz website’s information is easy to read and has good navigation for customers to
search relevant informationandmobile friendly. Thepagehas goodengagementbecause
therearealotofcommentsfromcustomers.
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2.2 Consumer Insights Young travellers want to have a comfortable vacation where they do not need to get worried
about flight cancellation and stolen baggage but chose not to purchase because they have low
income.
3.0 Recommendation Cover More Travel Insurance (CMTI) is recommended to invest on Facebook advertisement
to enhance target audience. Advertisers can customise a target filter, for example age and
location for people to view their ad. It allows people to fall within their target segment once
an advertisement is launched (Mishra, 2015). This is done when a new user liked the page
and received latest information about the company. According to Ramsaranan Fowdar
(2013), Facebook has become the most visited online social platform for users. Therefore,
Facebook advertising is a good investment to attract audience who belongs to the
demographics that shows the behaviour.
Cover More Travel Insurance should update their post consistently by pushing rich content
on a regular basis on all of their social media channels. According to Roy Morgan (2016),
marketers should post every weekday after dinner, as Internet will be use more often during
that period. It is recommended for CMTI to work a month ahead on content and to set aside a
day or two each month to write out all of the social media updates. This is because
inconsistent brand post could stimulate lower audience response by positioning the brand into
the audiences’ mind (Tafesse, 2015).
Lastly, CMTI should improve on brand identity. Consistent use of logo and brand colours
across all communication channels is important as it could help to strengthen the brand’s
authenticity and enhance intimate appeal to customers. CMTI should determine a minimum
size of the logo and keep the position of the logo consistent across all media images because
it will sustain customers’ relationship with the brand (Park, Eisingeric, Pol and Park, 2013).
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4.0 References
Australia Bureau of Statistics. (2016). Retrieved 16 August 2016, from
http://www.abs.gov.au/ausstats/[email protected]/0/ACC2D18CC958BC7BCA2568A900139
3AE?Opendocument.
Cover More. About Cover More Travel Insurance (2016). Retrieved from
https://www.covermore.com.au/about-us.
Hristovska, M., & Mirceska, I. (2010). Travel Insurance As A Significant Element Of
Supporting Tourist Travelling. Faculty of Tourism and Hospitality Management in
Opatija.Biennial International Congress.Tourism & Hospitality Industry, , 910-916.
Retrieved from
http://gateway.library.qut.edu.au/login?url=http://search.proquest.com/docview/76342
2456?accountid=13380.
Mishra, A. (2015). Consumption Value of Digital Devices: An Investigation through
Facebook Advertisement. Scientific Research Publishing Inc, 4, 51-61. Retrieved
from http://file.scirp.org/pdf/SN_2015070215130913.pdf.
Park, C.W, Eisingerich, A.B, Pol, G. and Park, J. W. (2013). The role of brand logos in firm
performance. Journal of Business Research. 66 (2), 180-187. Retrieved from
http://ac.els-cdn.com.ezp01.library.qut.edu.au/S0148296312002068/1-s2.0-
S0148296312002068-main.pdf?_tid=2a5d8042-6793-11e6-98f1-
00000aab0f27&acdnat=1471779425_52243020212a4762e08033b04b66b212.
Ramsaran-Fowdar, R., & Fowdar, S. (2013). The implications of facebook marketing for
organizations. Contemporary Management Research, 9(1), 73-83. Retrieved from
http://gateway.library.qut.edu.au/login?url=http://search.proquest.com/docview/14387
29497?accountid=13380.
Roy Morgan. (2016). Roy Morgan Single Source Australia: Apr 2011- Mar 2016 [Cource
information]. Retrieved from
https://blackboard.qut.edu.au/webapps/blackboard/content/listContent.jsp?course_id=
_124946_1&content_id=_6354850_1.
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Tafesse, W. (2015). Content strategies and audience response on Facebook brand
pages.Marketing Intelligence & Planning, 33(6), 927–943. doi:10.1108/mip-07-2014-
0135.
Ulbinaite, A., & Kucinskiene, M. (2013). Insurance Service Purchase Decision-Making
Rationale: Expert- Based Evidence from Lithuania. Ekonomika,92(2), 137-155.
Retrieved from
http://gateway.library.qut.edu.au/login?url=http://search.proquest.com/docview/14213
65778?accountid=13380.
Value segments help define international market. (1988). Marketing News, 22(24), 17.
Retrieved from
http://gateway.library.qut.edu.au/login?url=http://search.proquest.com/docview/21640
1970?accountid=13380.
Young and carefree: RBC poll finds young travellers taking risk without travel insurance.
(2011, Jul 26). Canada NewsWire Retrieved from
http://gateway.library.qut.edu.au/login?url=http://search.proquest.com/docview/87903
1604?accountid=13380.
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5.0 Appendixes
Appendix 1: Facebook and Instagram logo