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CASE STUDY:

Insurance: How Brand Strategy Helped Seize Niche Markets

Task Summary

The insurance industry is massive and complex. As a potential client, it can be difficult identifying which insurance company is best for you. Often, insurance companies rely on word of mouth and referrals as a core part of their sales strategy. Insurance brands must figure out how to share their expertise, products, and reasons why to choose them in the digital age.

Our client is an insurance brand that represents agriculture clients, individuals, and corporations. The diverse clientele, along with a non-descriptive brand name, created confusion for each audience. 

Boldthink set up focus groups and surveys with employees and customers to identify what makes the brand special and which areas are causing confusion. In the end, our client received a brand strategy containing competitive audits, customer insights, product naming, and brand architecture.

Goals

brand goals
  • Document industry and audience trends that will inform any future brand and product decisions
  • Identify high-impact opportunities to improve differentiation among top competitors
  • Deepen knowledge within niche segments to increase market domination and decrease brand dilution
  • Develop messaging and new product naming/brand architecture strategy to support sales agents

Approach

brand approach
  • Discovery session with sales agents and executive leadership
  • Market, competitive, audience, and social media research to identify areas of opportunity
  • Brand strategy including brand mapping, audience personas, product naming, messaging, and brand architecture
  • Creative rebrand with Boldthink including URL and trademark research, communications, and web design

Services

branding services
  • Ideation workshop
  • Market trend research
  • Competitive audit
  • Social media audit
  • Audience research design and insights analysis
  • Brand audit & analysis
  • Brand architecture and product naming development
  • Brand and website design
  • Go-to-market strategy & brand positioning

Results

  1. New audience personas supported executive and sales teams in broadening niche markets
  2. Improved client satisfaction thanks to clarity across brand and product naming
  3. Increased web traffic and lead generation as a result of website redesign and competitive differentiation
  4. The new brand mission led to happier employees and gave a boost in morale
  5. Expansion into western markets leading to increased sales revenue and long-term client relationships

“Hard work and accessibility built our business, so our collaboration with Boldthink felt like we were working with one of our own. We now have more clarity into how to structure our products and brand better to serve our clients. ” – Client

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