Client: Royal & Sun Alliance
Magazine name: More Th>n Magazine
Frequency: Four issues a year
Circulation: 870,000
Target audience: More Th>n insurance policy holders
Objectives
Execution
An integral part of the More Th>n brand launch in 2001, Royal & Sun Alliance has since developed its customer magazine in two versionalised issues for the under 55s and 55-70 age groups. Each copy of the magazine is mailed with a personalised, incentivised letter, plus topical product inserts.
From the front cover onwards, content is tailored to suit the respective audiences and ties in to the full product offering. Product information is separated from editorial, in a two page directory.
Calls to action are clearly differentiated from editorial, and the effectiveness of these opportunities to sell are enhanced by a mailing schedule that ties in with the renewal cycle of the customer base: customers receive a magazine prior to policy renewal and three months after renewal.
Despite the staggered mailing schedule, the two versions of the magazine are reprinted every three months to ensure maximum topicality and all-new issues are created twice a year. The reprints allow Royal & Sun Alliance to maximise commercial activity in its magazine, using insert space, carrying current above the line advertising, and to segment numerous personalised, incentivised letters for each mailing.
How is the success of the magazine measured?
More Th>n Magazine is evaluated in a number of ways:
How effective is the magazine as a marketing tool?
More Th>n Magazine has had a positive effect on policy retention by reducing mid-term cancellations previously experienced by the company.
During the 2002 launch of one product, More Th>n Magazine took two per cent of the promotional spend but obtained seven per cent of sales -- the highest conversion rate across all activity. The magazine has achieved up to six times the expected response rate on some products.
Recent figures (Jan 2003) show the number of responses positively converted to sales, via the magazine, has doubled since 2001, and tripled from 1999.
In customer satisfaction activity (exploring sales and servicing), 88% of customers who received the magazine say they are "very likely" or "quite likely" to recommend More Th>n to friends.
Under overall customer satisfaction, 50% of customers who received the magazine rated the brand "excellent" compared with 44% who did not.
Throughout the magazine, calls to action encourage customers to use phone and web. And, where relevant, stories draw attention to unique information on the website.
Royal & Sun Alliance itself voted More Th>n Magazine one of the top three pieces of customer communication that successfully promotes the brand's identity and values.
More Th>n Magazine won Most Effective Finance Title at the Association of Publishing Agencies Customer Magazine Awards 2002.
Hilary Weaver, director of the APA, said: "The DMA census reported that 2002 expenditure on contract publishing was (拢313m) up 12% on 2001and latest figures from Royal Mail show 15% volume growth year on year in the customer magazine sector. According to the Mintel report (2002) financial services is the second largest industry sector in contract publishing at 15%, only a few titles behind retail and distribution. The continued strong growth in this sector is due to companies beginning to understand their importance in building strong profitable relationships with their customers and targeting brand communication in a way their audience will enjoy and respond to.
"Mintel showed that nearly three quarters (74%) receive their customer magazines by mail, with 72% of those mailed being personalised. On this basis, Royal & Sun alliance has put together a very successful campaign and the two age related versions of this magazine have delivered excellent return on investment."
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