LV= to move spend to TV as it launches ad blitz

Insurer LV= is moving money back into television advertising after finding it had underestimated the impact TV ads had on sales. 

LV= Is launching a new ad for its motor insurance products as it prepares to spend more on TV.

The move comes as the firm prepares to launch a major TV ad push. It has launched an ad for its 50 Plus insurance product this week and will release the first spot for its home insurance offer next week (7 July).

A new spot pushing its car insurance will break later this month (21 July).

The brand currently spends about a third of its media budget on television, less than it has on digital, but this will increase this year and next.

The move follows employment of a marketing and optimisation tool from BearingPoint. The tool, which monitors sales attribution by channel, found a misalignment of its marketing budget.

Geoff Bates, head of marketing and analysis at LV= Life, told Marketing Week using the tool meant it ”began to understand the role TV has to play” and its influence on driving direct action and not just creating awareness that direct and digital channels then convert to sales. 

He adds there was also an “internal demand” to put money into digital as well as “strategic questions about the viability of TV” that the tool allowed it to answer. 

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