Comparethemarket and the CEA are both remaining tight-lipped about the nature of the promotion but it is likely it will be an incentive to take out an insurance policy or any one of the other products and services it compares through its site.
The move is likely an attempt to boost repeat visits and loyalty in a promiscuous market whose major players have based their marketing strategies entirely on dominating share of voice using brand character-led advertising blitzes.
Comparethemarket has enjoyed a successful last couple of years – growing customer numbers and its product portfolio. Its managing director Paul Galligan’s claim in its latest annual report that it it the UK’s “most popular” also appears to have some credibility.
It also boasts relatively high levels of positive brand perception when compared with rivals. According to YouGov’s BrandIndex, it has the highest Index rating – an average of key measures including quality, satisfaction and value – of the main comparison sites giving some credibility to its managing director Paul Galligan’s claim in its latest annual report that it it the UK’s “most popular” price comparison site.
However, a 2013 report from Consumer Futures, now part of Citizens Advice, concluded that there was little evidence of loyalty to particular sites with 83% of those canvased saying they visited multiple sites when hunting for the best deal.
Comparethemarket Wednesdays, or whatever the offer is branded, is an attempt to address this by offering customers a reason to use the site other than a fondness for meerkats.