Phenomenally Increased Customer-base of a Leading Insurer
If you’re considering to invest in technology to improve your business significantly, marketing automation is the one technology which when implemented right, can make a world of difference to your business by streamlining all your marketing and sales efforts. This aids in speeding up your leads through the sales cycle. If you’re still not sold on the idea of implementing marketing automation to your business, here’s a case study to demonstrate how well-implemented technology of marketing automation can bring out the best of the potential of a business. Here’s how we handheld one of our key accounts through the entire process & helped them grow their business.
Our key account is a market leader and has been a dominant insurer with over five decades of foothold in its market. They reached out to us with a few well-defined business objectives for their entire Marketing Automation endeavor:
- Reaching out to a large set of their target audience through email and conduct effective email marketing of their existing products.
- Generating more revenue from their existing customer database
- Targeting new customers to effectively pitch the entire range of their offerings that included Insurance for Boat, Home, Car, Travel, Motor cycle, Personal accident benefits etc.
- Expanding their customer-base in the four scope countries of their target audience.
Target Audience of the campaign
- Existing customers
- New customers – All the people who would buy Insurances
Triggers for the Marketing Automation Campaign
- Clicking on the URL in the Emailer
- Purchasing the Insurance Packages
- Visiting an insurance related page on their website
As a part of various Email Nurture campaigns, tailored emails were sent across in a timely manner, based on each customer’s action. Such tailored emails comprised of the most relevant marketing message conveyed effectively. This helped in further engaging the target audience and facilitated effective pitching in terms of cross-selling, up-selling, renewals, special upgradation offers and so on.
Did it work? – Results
- Brought about phenomenal growth in customers, only through Email marketing for all products
- Maintained the industry standard of 25% open rates for all the emails delivered.
- Successful cross selling of their services, a major highlight of our campaign.
- Performed user behavior based Sales Funnel Implementation & Lead Scoring with custom data.
- Enabled tracking and analysis of mailers that gave them good conversion rates.
- Increased revenue from Email marketing channel almost by 200%.
- Promoted Mobile app which increased the usage of the product on it.
- Online presence increased to 65% across all platforms.
- Offered suggestion for less selling products and advised with better packaging of products which boosted product’s performance.