In a market where advertising is dominated by Russian meerkats and opera singing brand characters talking mainly about saving money on car insurance, MoneySupermarket has opted for ads explaining how customers can cut costs by using its entire range of services, utilities and travel comparisons as well as financial services.
The shift will be overseen by marketing director Kenny Jacobs, who joined from Tesco in December. He told Marketing Week: “Times are pretty tough out there right now for families in the UK and people have caught the money-saving bug. Comparing the cost of household bills can make a real difference to every day family budgets. Our campaign will continue to recognise what’s happening for families at the moment and ensure they know MoneySupermarket helps them make the most of their money across more than just insurance.”
He adds: “It’s no longer about saving money just to buy other luxuries. For many people, we help them save money so they can then afford all the other things that are important to their family – be it sports kit for their kids, school excursions, or the much-anticipated annual family holiday.”
Elsewhere, the price comparison is also investing in developing a greater breadth of content. The volume of videos, how to guides and articles will increase particularly to sell more complex financial products than insurance.
It is hoped the changes will help maintain MoneySupermarket’s market leading position, it currently commands about 40 per cent of the fiercely competitive price comparison sector ahead of rivals ComparetheMarket, Go Compare and Confused. Sales increased 26 per cent year on year to £66.5m in 2012.
There have been significant changes to its senior marketing team in recent months including several high-profile departures such as director of consumer marketing Paul Troy, Jacobs’ predecessor David Osborne, propositions head Steve Willey and head of relationship marketing Mark Emmet.
However, former Innocent and Mars Petcare marketing director Gareth Helm was appointed in January to the newly created role of brand director with a broader brief to focus on brand building and last year Orlando Machado was drafted in from Dunnhumby as insight and CRM director.