Strong Measurement Foundation Powers Scale for Kin Insurance
Kin Insurance, a digital direct-to-consumer home insurance company, had aggressive growth goals for 2023. They knew that there was significant market demand, but weren’t sure if their existing program was mature enough to efficiency scale.
Partnering with New Engen in the spring of 2023, the team focused on building a solid measurement foundation and then scaling efficiently.
🤝 IMMERSE
We had a deep partnership with the Kin data team and moved beyond in-platform metrics to utilize a predictive performance model with their 1st-party data.
💡 INSPIRE
We adhered to a measurement plan meticulously built around Kin's unique business needs.
Following a measurement foundation, the team focused on:
🛠️ The full rebuild of all Search accounts.
- Reviewed historical data to understand keyword & campaign groupings
- Iterated on initial rebuilds by layering on new tactics to optimize for profitability by market, along with implementing stronger optimization signals for performance
🥼 Methodical testing.
- Device performance
- Keyword Match Type
- Performance Max Adoption & Utilization
- Creative Best Practices In Meta
💪 IMPLEMENT
With a strong foundation in place, performance began to stabilize.
Once campaign performance was stabilized, the program could start to scale profitably. Spend increased month-over-month before a slight pullback during expected Q4 seasonal lulls. When Kin was ready for new market expansion, best practices were already established and new markets optimized faster.
🏆 IMPACT
Closed won volume grew efficiently (and at scale) in 2023.
Existing channels successfully scaled ad spend through the year, leading to month-over-month increases in closed won volume before a Q4 seasonal intentional pullback. In January and February of 2024, total closed won volume was up by 260% and 240% YoY, respectively. Volume was profitable according to Kin’s internal attribution.
For reference, total company-wide revenue in 2023 increased by 53% YoY.
New Engen was a great partner in helping Kin scale digital advertising with a strong performance-driven focus. Ross and his team became members of the extended Kin marketing team, tightly aligned by shared goals and processes for executing growth strategies.
- Ashish Agarwal, Chief Marketing Officer at Kin Insurance