But as the acquisitions piled up—growing Acrisure from a $38 million business to nearly $4 billion in eight years—so too did the company’s capabilities beyond insurance, including cybersecurity and mortgage origination that few of its competitors could offer. Telling this story on behalf of its local offices prompted Acrisure to begin investing in its own branding campaign, Bundy said.
Stadium deals were a way of “jump starting” the branding effort but are far from the only piece of Acrisure’s strategy, Bundy added. Behind the scenes, a targeted digital campaign was going on, giving the company what Bundy called a combination of owned and earned media.
Surveys conducted by the company among audiences that resembled Acrisure’s customers—typically small to medium-sized businesses—showed awareness jumped from around zero to 5%, Bundy said.
“It doesn’t sound like a ton of space, but it’s a substantial increase, when you think of our competitors. Among the same cohort of people we serve, they’re at maybe, 6%, 7%, as high as maybe 10% of awareness. And those are companies that have been around in some of those cases for 200 years,” he said.