Purchase doesn’t always come down to the price

It’s refreshing to hear marketers recognising that, even in a tough financial climate, price is not always the main factor for consumers (“How to retain customers and build brand loyalty”, MW 9 September).

In insurance, where comparison sites are now the number one marketing tool, there is a misconception that it’s all just about price. But in our experience it’s those trusted, recognisable, brands that consumers choose first – even if they cost a little more. A good brand, coupled with a good product, will triumph over an unknown brand or a basic package.

Many brands make the mistake of offering a plethora of features that will never be used. However, the key to attracting and keeping customers is making sure the product is relevant and ensuring that the customer’s direct experience with the brand – at the point of sale or when making a claim – is strong enough to keep them for the long-term.

For us, the phrase “know your customer” should mean more than just flagging up a policy renewal date. We are already working with some of our partners, including Marks & Spencer, HSBC, the Post Office and the RAC, to use consumer data from other business areas to ensure their insurance offers are personalised and relevant to their customers.

Peter Thompson, Managing director of Junction, the affinity arm of The BGL Group

Latest from Marketing Week


Access Marketing Week’s wealth of insight, analysis and opinion that will help you do your job better.

Register and receive the best content from the only UK title 100% dedicated to serving marketers' needs.

We’ll ask you just a few questions about what you do and where you work. The more we know about our visitors, the better and more relevant content we can provide for them. And, yes, knowing our audience better helps us find commercial partners too. Don't worry, we won't share your information with other parties, unless you give us permission to do so.

Register now


Our award winning editorial team (PPA Digital Brand of the Year) ask the big questions about the biggest issues on everything from strategy through to execution to help you navigate the fast moving modern marketing landscape.


From the opportunities and challenges of emerging technology to the need for greater effectiveness, from the challenge of measurement to building a marketing team fit for the future, we are your guide.


Information, inspiration and advice from the marketing world and beyond that will help you develop as a marketer and as a leader.

Having problems?

Contact us on +44 (0)20 7292 3711 or email subscriptions@marketingweek.com

If you are looking for our Jobs site, please click here