Anyone who spends lengthy periods in front of the TV or computer screen will notice that insurance brands are likely to spend huge sums on their advertising given the ads’ prevalence and quality. South Africa in particular experiences this occurrence most often, but there is a reason behind yet another AAA insurance ad during commercial breaks of your favourite episode of Game of Thrones.
Insurance Industry in South Africa
South African insurance is a R33 billion industry. To express the market’s security, insurers are consolidating returns after each year, making the industry the relatively safe as an investment. As South Africa’s middle-class grows at an ever increasing and rapid pace, brokers continue to sell their commodity product. This is in the face of rapidly rising inflation, in a society whereby people will wantonly cancel their insurance in an effort to pay for necessities such as school fees and home bonds. In such an environment where there is an ever increasing risk of competition, anything that can help you sell your product faster than the next man is a worthy investment.
Insurance Industry Ads
So, it’s no surprise that insurer brands’ advertisements are found prolifically across television screens, billboards and your social media profiles. In fact, insurance providers are more than likely to double the adspend when compared to vehicle manufacturers and cellular networks. The surprising thing about this occurrence is that the insurance industry, once frowned upon by creative marketing directors the world over (for what was once a boring industry as far as advertisements go), has become the advertising industry’s darling prodigy. Insurance ads are not only likely to attract ‘big bucks’ for some of the most inventive ad agencies, but they also represent a chance to flex their creative muscle. South African insurance ads speak for themselves; they’ve gone from school to cool. If anything, the realisation that theirs was the most difficult market to advertise has fostered a creative energy to create great ads.
If you are interested in learning more about your competitors advertising campaign, don’t hesitate to contact Adcheck. Take a look at our Ad Monitoring page to find more information regarding this service.