Since we last checked in with insurance challenger brand, Youi, the company has launched a celebrated brand refresh and new campaign platform. CMO Angela Greenwood says that the revitalised approach is galvanising the organisation to push towards its next phase of growth. “There’s still a lot of runway for the brand and a lot of opportunity for us.” she says.
And the current cost of living squeeze is helping the team to realise some of that opportunity. “People are, even more actively than we’ve seen in recent years, looking at their insurance policies and investigating their options,” reports Greenwood. The team are focussed on making sure that Youi stands out in a fiercely competitive market. “Our brand refresh is all about making sure that potential customers understand our value proposition and that we’re really clear about what we can bring to the table.”
In order to make the most of a bigger audience, Greenwood and her team have been focussed on articulating the value proposition across a full range of channels and formats. “Traditionally we’ve spent a lot on television and performance media, we’ve been very focussed on the top and bottom ends of the funnel,” says Greenwood. “Where we haven’t been as strong is in the middle of the funnel and where we tell the story about why customers should choose us.”
Grounded in the brand’s heritage of providing insurance for individuals, the campaign invites Australians to get insurance that’s ‘a bit more you-shaped’. The campaign launched with a suite of four films across TV, a tailored social & digital video approach and integrated media across other platforms. As part of the campaign, Youi has also refreshed its brand design system and developed a new audio logo.
Finding the investment ceiling
But relaunching a brand and ramping up investment through the line isn’t as simple as flicking a switch. Without a considered approach, it’s easy for companies to under invest or over invest and simply not see the value from the new channels and creative that they were hoping for. What follows is a crisis of confidence either in the strategy or in the marketing department itself.
The Youi team has a secret weapon in their battle to win hearts and minds. Mutinex GrowthOS is helping the team to understand where and how much they should invest to get the best results. “One good example is social media,” explains Greenwood. “We significantly upweighted our investment in social media from financial year ‘22 to ‘23, doubling spend year on year. But we’ve got a good view of where the headroom is and how much further we could go, thanks to GrowthOS.”
To understand how much to invest in channels like social media, Greenwood’s team use a GrowthOS feature called Saturation Curves, which clearly illustrates at a product and channel level, how much more could be invested before return on investment will start to flatten. This allows the team to confidently move on investment opportunities and monitor performance as the media mix changes.
Youi runs an in-house agency and Greenwood reports that many functions across the marketing and agency teams are using GrowthOS regularly. “Media buyers are in the platform basically daily, trying to uncover opportunities for optimisation on a channel level. The data and insights team use it weekly. Marketers are using it to help inform briefs, so they’ll check in about once a month.”
Board reporting in two easy steps
GrowthOS has also been used to prove the effectiveness of the strategy at an executive level. Greenwood recently presented reporting to the Youi board. “It told the whole story in two graphs taken from GrowthOS. The first looked at the value of our brand over time and the impact on revenue of continued brand investment and the second looked at marketing activity versus ROI. To be able to tell that story on one page is extremely powerful and gets a lot of cut through.”
As the brand re-launch and associated campaign mature, Greenwood has set her sights on understanding more about the performance of different creative over time. In the coming months the team will analyse adstocks from the campaign to understand which creative has left a lasting impression with key audiences. “We’re really feeling that groundswell of support from the Mutinex team from end to end,” concludes Greenwood.