According to the MoneySuperMarket Group’s CEO Peter Duffy, the company is “probably in [its] best shape ever” as a result of the performance and brand marketing initiatives that are fueling growth.
The company’s direct to site online traffic increased by 25% during the first half of its 2023 financial year, which ended on June 30, 2023, compared to the same period in 2022. In a results presentation today (24 July), Duffy credited the company’s marketing campaign, which included Dame Judi Dench, and its editorial offering, MoneySavingExpert, for this traffic, which consists of users who directly search for the site rather of arriving there through links.
The latest installment of the MoneySuperSeven ad, starring Dench, was released by the MoneySuperMarket brand in April of this year. According to Duffy, the most recent advertisement is the company’s “best performing to date,” and it has increased brand consideration by 14% and buy intent by 6%.
While the company’s efforts to promote its brand, increase awareness, and encourage consideration have been successful, its performance marketing has also contributed to the achievement of outcomes in the first half of the year. According to the corporation, pay-per-click marketing revenue has increased 25% over the same time in 2022.
In order to enhance customer relationship management (CRM) and make communications more pertinent to clients, the organization has made these efforts. This work increased campaign conversion rates by nine percentage points, and the revenue that CRM generated increased by 16% in the first half of the year.
In the first half, increasing revenue was driven in part by performance and brand marketing. Its revenue increased by 11% on a yearly basis to £213.8 million, while its profit after tax rose by 22% to £41 million.
The corporation spent £89m more on marketing than the previous year, an increase of 7%. In particular, it raised its internet spending, which grew by 16% year over year to £48 million. The year-over-year spending on cashback marketing increased 9% to £20 million, while spending on TV and radio decreased 10% to £17 million.
The marketing margin for the company grew little year over year, rising by one percentage point to 58%. The negative relationship between revenue and overall marketing spending is known as the marketing margin.