Prioritizing and Building a Strong Brand Identity

1/31/2023 Matthew Tilley

Successful brand building and brand development are the primary fuel for powering the overall growth of an organization. But how do you build a brand while still increasing your customer base?

In this episode of the Business to Human podcast series, Sarah Berg, Vice President of Marketing at Matic, shared insight into how and when to prioritize brand building — even during the critical business growth stage. In the episode, Berg discussed:

• What Matic is and what they do
• The marketing challenges that Berg’s team faced
• How to create a brand foundation that aligns with a long-term corporate strategy
• How Matic has approached brand development

Changing the landscape of the InsurTech industry

Matic is an insurance technology company that has created a partner-led insurance marketplace. Through partnerships with 45 top-rated insurance carriers, such as Progressive and Allstate, Matic is integrated into the home and auto ownership experience.

“When a consumer visits Matic, we match them with the best policy available in our network, and because we have so many options available, we’re usually able to, on average, save a customer more than $600 if they switch. We also provide a choice for how to buy,” explains Berg.

In most cases, customers purchase everything entirely online, although Matic also has an in-house agency of licensed advisors for those who need some consultation. If someone has questions about their policy or is looking for other options, they can speak to a Matic advisor at any point in the process.

Marketing challenges faced by the team

The insurance market is fairly saturated, so standing out among a crowd of competitors can be difficult.

Although Matic partners with some of the better-known insurance carriers, they are also partnered with carriers that have less brand awareness in the market and lack the trust needed to bring in new customers, says Berg.

“When it comes to selling insurance, trust is so incredibly important because this might be something that you never even have to use. And when you do need to use it, you want to make sure that it’s actually available — and that it’s going to work for you,” says Berg.

Because of this, Matic’s marketing efforts are challenging. Matic has to work twice as hard to maintain their B2B2C embedded growth model, she says, while also increasing brand awareness for themselves and their partners to convey the trust needed to be successful in the insurance industry.

Creating a brand foundation that aligns with a long-term corporate strategy

What many startups fail to realize is that prioritizing their brand early on will set them up for greater success in the long run. Many companies begin by prioritizing marketing and product sales or increasing clientele, but they'll inevitably face obstacles without a clear brand foundation.

It’s important to identify your company’s key decision makers, whether it’s the CEO, members of your marketing team, or any other stakeholder. Having buy-in from key stakeholders and setting expectations surrounding the branding process at the beginning of your company’s journey will streamline the organization’s path to growth.

Consider the following questions:

• Whose opinions matter most in your company?
• What are your company’s long-term goals and aspirations?
• What are your values, vision, and mission?

From there, figure out the optimal strategy to reach those goals. This roadmap is something your company can use to make decisions relating to your brand easier, more intentional, and impactful.

How Matic has approached brand development

When Berg started at Matic, they were still figuring out some of those foundational questions and deciding the company’s brand strategy. But participation in these branding exercises led to a successful brand strategy and improved day-to-day decision-making. From there, they were able to build out certain company assets.

Matic has since invested in content creation, established a resource center and a blog, maintained a consistent social media presence, began doing more with PR, and homed in on the voice and image of the brand they want to be. As a result of these actions, the company has experienced a growth of 130 percent in just the past year.

Revisiting those initial foundational brand goals and establishing positive brand perception helped Matic maintain direction and accountability. Since then, they’ve been able to continue on their path to “move the needle forward.”

“I think the most important thing is getting buy-in across the organization and having the influence to convey that brand isn’t something that’s isolated — it’s really a core part of a larger company flywheel,” says Berg.

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