Social Advertising, Strategy, Meta Lead Gen Form
About
The Colonial Penn Life Insurance Company is an American life insurance company based in Philadelphia, Pennsylvania, founded by philanthropist and AARP co-founder Leonard Davis, owned by CNO Financial Group.
For over 50 years, Colonial Penn has specialized in offering life insurance directly to consumers at affordable prices.
The Goal
Due to the ever increasing cost of traditional marketing methods with regards to lead generation, Rocketer offered a strategy that would bridge the gap between low volume traditional lead generation, as well as improving the efficiency of the cost of those leads by at least 6X.
Rocketer proposed a Meta Lead Form generating strategy that fueled the call centre with up to 100 daily leads per day, this was to be taken as a small fraction of the current online website application journey.
The Results
14X
3X
39%
Generate leads at almost 14X improved efficiency
Reduced the cost of the leads by almost 3X
Value of the sales from the lead generation was 39% more valuable to a sale, showing the mix of online and offline sales to be beneficial in the support of greater profitability
Compared to traditional marketing cost per lead, we were able to generate leads at almost 14X improved efficiency and compared to our website application only journey we also reduced the cost of the leads by almost 3X. What was even more promising was that the value of the sales from the lead generation was 39% more valuable to a sale, showing the mix of online and offline sales to be beneficial in the support of greater profitability
Not only were we able to support a significant efficiency gain at volume, but we were able to use our partnership with Meta to implement a 3 to 1 coupon for the client, which ultimately shaved off another 25% off the efficiency, taking the efficiency gain to over 18X that of the traditional lead costs. Overall we are currently working towards a 1.66 marketing cost to net annual premium for the client, and with the coupon, this drops to 1.25.
