There is a right way to conduct research to grow your market share and a wrong way. Unless you are asking the right questions, your research will fail.
You must go beyond theory and identify the emotional drivers of your target audience and use tough-minded strategies and positioning to steal market share from the competition.
Stealing Share has developed a unique process unlike any other brand company in the world that is designed with a single purpose, to steal market share.
ProAssurance is one of the largest underwriters of medical professional liability insurance in the U.S. Based on research, both qualitative and quantitative, the brand strategy developed by Stealing Share for ProAssurance was to align with physicians’ desire to be treated fairly by insurance companies because physicians deal with issues of fairness every day – and, therefore, are more highly sensitive to it when they aren’t treated fairly than most.
All competitors speak of aggressive defense and financial stability, the table stakes you must have to be a professional liability insurance company. No one spoke of the emotional reasons why they would want liability insurance.
Like most of its competitors, ProAssurance promised aggressive defense and financial stability – and even its color palette blended in with the competition. Most of the competitors were blue and, those that were not, used black as a primary color.
The concept for the logo was to show a “reveal” that displayed a brighter future of insurance where physicians are treated fairly. The motion of the “reveal” demonstrates a continuing promise of fairness so that physicians understand ProAssurance and the physicians it serves continually seek fairness in all that they do.
Qualitative and quantitative research was completed with physicians in a number of states, digging into usage and attitudes concerning the industry, ProAssurance and its competitors. In addition, the research delved into what drives them as medical professionals, what creates preference and reasons to switch in the insurance industry and the belief systems that make up their personalities.
The outcome of that research created the brand promise of fairness along with numerous strategic and tactical executions in order to capture share. Stealing Share also conducted brand training with ProAssurance employees and agents so the company could fulfill the brand promise of “fairness.”
Brand Standards that Reinforce the Strategy and Personality
From advertising to collateral systems, signage to stationery systems, Stealing Share created a comprehensive brand structure for ProAssurance. Included in the brand standards were cues and examples for logo usage along with messaging and brand personality guidance.
This is Only a Small Part
If you would like to learn more, please contact us to schedule a presentation on our process and how it can help transform your company.
Visit ProAssurance by clicking here