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Increasing lead volume by 10x within 12 months in a FCA regulated market

Golden Leaves are one of the UK’s leading suppliers of Funeral Plans. The Funeral Plan market became FCA regulated in July 2022, completely transforming the space.

After struggling to drive new customer acquisition volumes, in the newly regulated space, Golden Leaves asked Version Two to advise on Native Media planning strategy, in November 2022, to help turn their marketing around.

Company

Industry

Insurance

Business Year

2022/2023

Monthly Revenue

£435,019

Challenge

FCA regulation meant a seismic shift in how Funeral Plans could be promoted and the way in which suppliers could be compensated. Much tighter control had to be placed on marketing activities from a compliance perspective, making creating compliant and compelling pathways extremely difficult. The old Pay Per Lead model was no longer viable.

Solution

Version Two, who are already FCA regulated (for other markets), had the knowledge of both the FCA practices and generating response from Funeral advertising. This experience enabled us to produce a solution delivering Golden Leaves compliant marketing collateral within a framework acceptable to the FCA. On appointment, in November 2022, we revised all elements of the existing Native customer journey – adverts, advertorials and landing pages. Using our unique blend of marketing savvy, Native platform knowhow and FCA compliance understanding, we created pathways that transformed their Native Media acquisition performance overnight.

Summary

Lead volumes doubled in month 1 and multiplied by 10X within 12 months, whilst effective CPLs more than halved. These improvements made a massive difference to Cost Per Sale and profitability. We continue to grow volumes and improve campaign effectiveness, with our ongoing programme of analysis and optimisation.

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