“The results were astonishing. Populus developed a compelling and innovative methodology through which it was possible to establish how much those who switch, and those who don’t, pay for essential household services.”
Anders Nilsson, Head of PR, Content and Outreach at GoCompare
GoCompare, the independent price comparison website, wanted to increase the likelihood of people switching from bad deals to improve their financial situation.
They wanted to prove their hypothesis that those who switch have lower bills or premiums than those who don’t. In order to see whether those who switch really do pay less for essential products and services than those who do not, GoCompare commissioned Populus to carry out detailed analysis which would make a fair comparison.
What we did
Populus took a fresh approach in order to solve the problem, using an innovative method and analysis technique.
We looked at the ‘big three’ products that most households have – home insurance, car insurance and energy bills – and compared the average bills for these products between those who switch and those who don’t. The chief challenge was identifying, through the use of survey data, which respondents were ‘switchers’ and which were ‘non-switchers’.
First we needed to establish who the switchers, and non-switchers, were
We did this by:
- Carrying out a nationally representative study amongst 5,000 respondents in Great Britain, who were asked to accurately report spend on energy, car and home insurance (where applicable).
- Asking respondents about previous switching behaviour and future intentions. We also asked about the motives behind switching and shopping around for these services.
- Running various models in order to determine the most effective and optimal way to best define switchers against non-switchers.
The result? GoCompare could use the price difference in its latest advertising campaign.
The large sample size in the survey and the depth of information from the questionnaire made it possible to calculate reliable and valid estimates of the cost discrepancies, having taken into account demographic differences between the two groups.
The numbers were cross-checked with official figures for the number of active car and home insurance policies, and the number of households, to generate population figures.
As a result of Populus’s innovative approach and new analysis technique, it was possible to accurately measure and calculate the difference in insurance premiums and energy bills between switchers and non-switchers.
GoCompare was able to use the research in its latest advertising campaign. You can view the full video above, or by clicking here.