Digital Insurance Agenda

Buyapowa – the leading global advocate marketing platform for regulated industries

Written by Roger Peverelli and Reggy de Feniks - Founders The DIA Community on Jan 17, 2020

Buyapowa is the leading global provider of advocate marketing solutions for regulated industries, including insurance and banking, telecommunications and utilities, powering refer-a-friend or “member-get-member” marketing for brands such as Allianz’s LV=, the AA, Saga, Ageas, HSBC’s first direct, Virgin Bank, L&C Mortgages, Envision Financial, Coast Capital Savings, Travelex, Sprint, Telefonica, Vodafone and many more.

Due to ad blockers, spam filters, banner blindness, the ever-spiraling costs of paid search and paid social, etc., insurers are finding that the customer acquisition tools they relied on for decades no longer work as well as they did – if they even work at all. That’s why they’re looking for new channels that not only cut through all the blocks and barriers, but deliver targeted, timely and trusted messages to the right customers. The Buyapowa platform allows them to do just that by empowering and incentivizing referrals from happy customers to their friends and families.

As the only scalable refer-a-friend and advocacy platform designed for regulated industries, Buyapowa delivers compliant, secure and flexible advocate marketing solutions that are deployed by leading financial services brands across the globe. The Buyapowa platform has won several awards, including being named a Gartner Cool Vendor, winning the Best-in-Class Customer Marketing Campaign at the CEM Global Telecom Awards, the FROW at fashion decoded, Les Trophée d’eCommerce and the Silver Medal at Fevad’s Start Me Up.

CPA’s up to 80% lower than other channels
Clients of the Buyapowa Platform typically drive substantial incremental acquisition of new customers, with higher lifetime value, and at CPAs up to 80% lower than other channels. 

How it works

The platform enables insurers to identify brand advocates among their customer base. It then empowers and incentivizes those advocates to refer the brand to their friends, colleagues and neighbors. But that’s not where it ends, by using clever psychological design techniques, stretch targets and gamification, the Buyapowa platform encourages referrers to keep introducing new customers throughout their association with the financial services brands.

Why we selected Buyapowa for DIA Munich
Buyapowa was selected for DIA Munich as a solution that achieved massive cost savings in customer acquisition, increasing customer engagement while being fully compliant with GDPR and other relevant data protection requirements.

 

Who is Buyapowa?
Buyapowa, which is privately owned, was founded by Gideon Lask back in 2011 as a social commerce business to drive customer acquisition for large brands and retailers. Over the last four and a half years, it has been focused on advocate marketing for regulated industries, such as insurance, banking, telecommunications and utilities. 

Today, with headquarters in London, plus offices in Vancouver and Berlin, its growing team numbers more than 40 experienced technologists, analysts and business experts who support referral, brand ambassador and employee friends & family programmes across five continents and in 17 languages.

“Sometimes in marketing, to go forward you need first to look back in time, long before the Kotlers and Porters wrote their marketing books. Back to a time when marketing was all about word of mouth, and happy customers simply told their friends and family about the great brands and products they enjoyed. That, in essence, is what we are doing for insurers. And, by adding in some clever psychological conversion principles, and adapting these age-old behaviors for the world of smartphones and social media, we’re driving more customer acquisitions than ever before, more valuable customers than ever before, and all at a rate that’s far more affordable than ever before for our clients.” CEO Gideon Lask


CEO Gideon Lask 

https://www.buyapowa.com

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