HDFC Life Collaborates with Google to Maximize Campaign Results with Search Marketing Automation
HDFC Life, one of India’s leading life insurers, has announced a tie-up with Google to restructure HDFC Life’s campaigns thereby making them run better with automation. HDFC Life said that this effort has worked well and generated positive results.
As an insurer, HDFC Life has been at the forefront of technology, to better serve its customers. HDFC Life collaborates with innovative technology companies as well as start-ups to drive business results. This collaboration with Google is in line with the same philosophy.
HDFC Life has a strong digital presence and platforms that offer customers a seamless buying experience, both in direct as well as assisted online purchase journeys. HDFC Life runs multiple campaigns, which are complex and cost intensive, across platforms to reach potential target audience on various devices.
Through this collaboration, HDFC Life, along with its agency partner, iProspect, has been able to leverage machine learning built into Google Ads to target potential customers with relevant ads through fewer Search Marketing campaigns and targeting groups (i.e. ad groups).
Machine learning based automation in Google Ads has enabled HDFC Life to significantly reduce multiple manually optimized targeting groups to fewer groups, leading to improved performance. This approach has delivered a substantial increment of 84% in leads and a 50% increase in lead quality, while simultaneously reducing cost by 46%.
Speaking about the collaboration, Vishal Subharwal, EVP e-commerce and Digital Marketing, HDFC Life, said, “Technology is the way ahead for life insurance. We have a very clear focus when it comes to reaching out to consumers. We have always believed that our investments in technology will yield results. Keeping this in mind, we have collaborated with industry leaders who have enabled us to achieve our goals. This joint engagement with Google and iProspect has yielded superior results in terms of increase in ROI and decrease the lead costs. This is in line with our continuous endeavour to enhance our reach and offer financial security to more individuals.”
Speaking about the effort, Vikas Agnihotri, Country Director, Google India, said “With the evolution of technology, brands today are able to optimise their campaigns and get better results and higher return on investments through machine learning. Working closely with HDFC Life Insurance and their agency, our teams were able to simplify the Search Marketing campaigns using automation. Thanks to automation the volume of target groups (i.e. ad groups) reduced by 500X and the teams are now focusing their time on creative experimentation and building further on this success”.
About HDFC Life
HDFC Life Insurance Company Limited (formerly HDFC Standard Life Insurance Company Limited) (‘HDFC Life’ / ‘Company’) is a joint venture between HDFC Ltd., India’s leading housing finance institution and Standard Life Aberdeen, a global investment company.
Established in 2000, HDFC Life is a leading long-term life insurance solutions provider in India, offering a range of individual and group insurance solutions that meet various customer needs such as Protection, Pension, Savings, Investment, Annuity and Health.
As on September 30, 2019, the Company had 40 individual and 11 group products in its portfolio, along with 8 optional rider benefits, catering to a diverse range of customer needs.
HDFC Life continues to benefit from its increased presence across the country having a wide reach with 421 branches and additional distribution touch-points through several new tie-ups and partnerships with over 270 partners comprising NBFCs, MFIs, SFBs, etc and including more than 40 new-ecosystem partners. The Company has a strong base of financial consultants.
For more information, please visit our website, www.hdfclife.com. You may also connect with us on Facebook, Twitter, YouTube and LinkedIn.
Google’s mission is to organize the world’s information and make it universally accessible and useful. Through products and platforms like Search, Maps, Gmail, Android, Google Play, Chrome and YouTube, Google plays a meaningful role in the daily lives of billions of people and has become one of the most widely-known companies in the world. Google is a subsidiary of Alphabet Inc.
Disclaimer: The story is in the form of a Press Release and has not been edited or reviewed for language or content. The content is published in the form that it was received by the editors after removing certain personal information such as contact numbers and emails. CXOToday.com is not responsible for the veracity of this content