After a year of spray and pray, Haven Life, which for five years has been selling DTC insurance online, focused its marketing strategy on refining its audience model. And, with a partnership with Amazon, it has seen 25% growth every quarter since, lowered its customer acquisition cost by 75%, and achieved scale and profitability.
That's what Matt Myers, head of customer acquisition, told our TV & Insider Summit this week in Montauk, N.Y.
Nearly all of its prospect audience is matched to Amazon's, he said, giving it up to 75% penetration on FireTV. For its part, Amazon has been able to pick up additional audience segments based on conversion data that is flowing in. Now, Haven Life is drilling down further and targeting soccer moms and people who are buying strollers. "The segments," he said, "are layering in."
The brand counts 300 attributes including location data, home values, household income, college education -- all the usual suspects. But also among those attributes are whether a prospect shops at Whole Foods or Kroger, Target or Walmart. "We're modeling lookalikes off that," he said.
Haven Life is owned by Mass Mutual, which still sells insurance the old way, although Myers noted that agents are "aging out."
And, whereas selling insurance used to involve the dreaded word "mortality," Haven Life ads are meant to be uplifting. "The goal is to be celebratory," said Myers, "lifting you up versus facing that harsh reality."