RE: Finals19 Feb 2024 14:56
Whats everyones thoughts on the SuperSaveClub?
It seems an expensive way to acquire customers, with the refer a friend bonus and the amount they pay you for taking out an insurance policy they are actually running at a loss of £10-24* per customer acquired. That’s if the customer doesn’t use the “free days out” pass which bumps this up.
This must be more expensive than pay per click, but perhaps cheaper than the TV adverts. The on going rewards probably make the customers more loyal, but I wonder if the average customer interact with MSM regularly enough for them to remember the next time they do their annual car insurance renewal that they are part of the SuperSaveClub. Perhaps if they start adding more rewards for mortgage comparison, new credit cards, loans etc then this will turn into a really good (and profitable) loyalty scheme.
*For Refer a friend, MSM pay paying £20 each to you and your friend for the referral plus £15 to your friend to take out the insurance. So a total of £55
The income they get is easy to estimate, its what Quidco pay back for insurance comparison, currently £45 for car insurance, and £34 for home insurance. So per acquired customer the club costs them £10 - £26.