Selecting Media Mix in Advertising Campaigns: The Insurance Industry

 Insurance companies can appropriately benefit from advertising to further advance their goals, which are to introduce their services, communicate with clients, influence them while choosing an insurance company to transfer their risks and ultimately attract them. Among the measures to improve the effectiveness of advertising is the careful selection of the mix of advertising media based on product features, consumers and media. So, the main issue in this research is to respond to the question of what are the components of the mix of media in specific insurance campaigns? 

The present study is applied in nature and is a descriptive survey in terms of purpose and data collection. It is conducted based on a mixed method approach (qualitative and quantitative) in which the exploratory approach and theory formulation model are implemented. The statistical population for the qualitative part of the study includes experts in the field of media and 16 experts were selected using judicial sampling and snowball sampling. The statistical population for the quantitative part of the study includes experts in the field of insurance advertising and 27 experts were selected based on judicial sampling to form a panel in order to evaluate the factors identified in the qualitative phase.  

The following categories were identified in the qualitative phase including: learning; pace of message transmission; use of clients’ five senses; engagement of audience’ feelings and emotions; precise transmission of details; purposeful use of instruments; media interactivity; and flexibility in sending messages. In the quantitative section, only 1 of the 9 identified components, namely the “flexibility to send message”, was deleted. In addition, based on the ratings of the effective components in each media, from the highest score to the lowest, a mixed media selection model particularly for insurance industry advertising campaigns was suggested as follows: 1- Internet (virtual environment), 2- TV, 3- Corporate Portal (Website), 4- Radio, 5- Billboard, 6- Text message, 7- Newspaper, 8- Magazines, 9– Brochure, 10- Tract, 11- indoor and outdoor spaces in public buses, 12- Cinema Page, and 13- Indoor spaces.

Because of the growing technology advancement and the rise of new generation interest in cyberspace, the Internet has taken over most types of media, especially among the youth, and has overtaken even the medium of television. During the day, there is a great deal of interest in and references to Internet-based applications such as Isentagram and Telegram. By creating a cyber page on Instagram and presenting their products along with photos or videos, different business owners have found a good opportunity to introduce their products and find a circle of regular customers, while this method of advertising does not cost them any taxes or fees. Since it's easy to share data via cellphones and tablets and people have their cellphones most of the day, they can use the Internet without limitations on time or space.