Young Executives

Programme for AAOs

Digital & Social Media for Life Insurance Marketing & Servicing

Avinash V. Patil 1
Why ? What ?
Digital and
Social Media
Marketing

How ?
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DQ has now become the buzzword in marketers’ community …..

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 He has Instant
access to
competitor’s ROP0
products, pricing Phenomenon
and user opinion

Today, majorityToday’s
of the customers Why is it
He expects to
are purchasinginternet
His buying almost everything get what he
mandatory to
decision isfrom
based the comfort of their cozy
on his own
empowered wants in the have a strong
customer financial same manner
homes …….. including
research digital presence
products.
now a days ?

He trusts opinion He expects

leaders rather personalized
than brands treatment

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 Distinct Advantages of
Digital and Social Media
Marketing

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 Enhanced Reach and
Reliability
Transcend geographical
boundaries and reach a global
audience through social media,
search engines, and online
advertising

Targeted Marketing
Precise targeting based on
demographics, interests,
customer behaviour

Personalization
Access to customer data and
behaviour insights enabling
retailers to create personalized
marketing campaigns.

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 Real-Time Interaction
Through social media, live chat,
and instant messaging, retailers
can engage with customers in
real time, addressing queries,
concerns, and feedback promptly

Measurable Results
Digital tools provide detailed
analytics and tracking
capabilities allowing retailers to
measure the effectiveness of
their campaigns in real-time

Cost-Effectiveness
Better cost-effectiveness
compared to traditional
marketing methods

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Enhanced Reach and Reliability
Transcend geographical boundaries
and reach a global audience through
social media, search engines, and
online advertising

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 Essential
Digital
Headlines
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Population
Structure

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India has one of the
largest millennial's
Population
population. Together
with GenZ,ofthey
Indiaare
142toCrores
estimated comprise 50
percent of India's
population by 2030.

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Advantage
India

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 Common traits associated
with millennials
✓ Technologically adept: Millennials grew up during a time of rapid technological
advancement phase of the rise of the internet and digital communication. As a
result, they tend to be comfortable and proficient in using technology, including
smartphones, social media, and other digital tools.
✓ Connected and social: Millennials are often referred to as the "connected"
generation due to their extensive use of social media platforms and online
networks. They value relationships and tend to maintain large social circles both
online and offline.
✓ Financial challenges: Many millennials face financial challenges such as student
loan debt, high housing costs, and a competitive job market. This has influenced
their spending habits and led them to prioritize experiences and value-based
purchases. Avinash V. Patil 13
 ➢ Digital media is a form of electronic
media in which data is stored in digital
and electronic format.

➢ This refers to the technical aspect of

storage and transmission (hard disk
drives / networking etc.) of information
to the end product such as digital video,
digital art, AR, VR etc.

➢ Digital media is a way to express opinion

or ideas in digital form through digital
devices.

➢ It is a quick, easy, and effective way of

communication and distribution of the
content.
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 The three types of digital media are:
❑ Social Media: Social media is designed for sharing the interactive content with
others. Examples of social media include blogs, discussion forums, social networking
sites, video sharing sites etc.

❑ Content Marketing: Digital media is designed to promote a product or service. It can

take many forms, such as articles, infographics, videos, or images. Roughly 90% of
content gets zero traffic from Google. That means around 10% of content is getting
100% of the traffic. We, not only, need to create quality content, but also need to
ensure that it gets on Google’s radar more than anything.

❑ Paid Advertising: This type of digital media involves paying to influencers for their
endorsements on our content. It can also take the form of banner ads, pay-per-click
ads, or sponsored posts.
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Important Data Points for understanding Social Media Impact

How much time we Top Uses of Internet What happens on

spend on Internet ? 2022 Internet ?

Age wise Favorite Unique Features of Extent of Data

Social Media Top Social Media created in 2022
Platforms Platforms

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 Unique Features of Top Social Media Platforms
✓ Facebook: local businesses, advertising, reaching ages 50+, relationship-building

✓ Instagram: ecommerce, organic engagement, tweet screenshots, influencer marketing

✓ LinkedIn: B2B, organic engagement, long-form content, privacy, warm and fuzzy feels

✓ Twitter: customer services, city dwellers and democrats, advertising to males, news

✓ YouTube : Audio Video file upload, Live streaming , Text overlay ,Social sharing

✓ Snapchat: video ads, young audiences, location-based marketing, app marketing

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 How Much Data is
Created Every
Day in 2022?

➢ 2.5 exabytes data is

created every day.
We are
Digital Data
What
1 EB = 1 000 PB
➢ In mathematical leaving
is the fuelour
for
= 1 Million TB
happens on
language, 1 exabyte
= 1 Billion GB
means 1 with 18 zeroes.
st Century
21Digital
marketers
Internet ?
➢ An average person Footprints …
creates 1.7 MB of data
every second.

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 Do we have a well
articulated DATA STRATEGY ?

Does our Data

Strategy reverberate
with the business
objectives ?

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5 Stats That Show How Data-Driven Organizations Outperform Their Competition

1) Data-driven organizations are 23 times more likely to acquire customers, 6

times more likely to retain customers and 19 times more likely to be
profitable.
2) Businesses that use big data increase their profit by 8 percent.
3) 62% of retailers report that the use of information and analytics is creating a
competitive advantage for their organization.
4) One-third of industry professionals have suggested that right technologies
are critical for a better understanding of customers highlighting the
empathetic advantages of being data-driven.
5) Insight-driven businesses are growing at an average of 30% each year.

Mckinsey Global Institute Report 2019

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We should be extremely
alert and careful in
managing Social Media

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If a marketing campaign involves any kind of digital communication,
it's digital marketing.
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Digital Marketing is the new way of marketing for achieving business
objectives and goals by using the online channels like search engines
social media platforms, content creation & advertising.

Digital media is used for educating, engaging & marketing our

product or service to potential buyers

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What are the main objectives of Digital Marketing ?

✓ Expand Market
✓ Brand Awareness
✓ Promotion for new products & services
✓ Lead Generation
✓ Improve conversions
✓ Target Customers
✓ Retaining Old customers
✓ Be cost effective
✓ Increase Sales/Profit
✓ Bringing More Website Traffic (SEO)
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Our website is often our first impression we give to potential customers.
Think of our website as our digital storefront and showroom.

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 There
1. There are 3.5 113
are about billion Googleon the
Crore websites
internet in 2023
searches
2. A staggeringevery
82% are day ………………
inactive, meaning only
20.16 Crore websites are actively maintained
Breaking the number down, this means that
and visited.
the
3. AGoogle searchis volume
new website is 145
built every million
3 seconds
4. 71% of per
searches businesses
hour, 2.4have a website
million in 2023 or
per minute,
5. 28%
over of business
40.000 every issecond.
conducted online
6. 43% of small businesses plan to invest in
their website
Google’s performance
share of searches originating from
7. 21% of business owners report low website
desktops and laptops has been mostly
traffic issues with their website
Website Marketing &SEO steady and currently stands at 85.44%. Bing
8. Users form an opinion about a website in
Online Marketing comes
0.05 in second with 8.32% market share,
seconds
Display Advertising followed by Yahoo (2.47%), Yandex (1.26%),
https://www.forbes.com/advisor/business/software/web
Content Marketing DuckDuckGo (0.9%), and Baidu (0.63%).
site-statistics/

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✓ In today’s digital age, it is imperative to have a well designed website.
✓ In most of the cases, today’s internet empowered customer does a basic
research before making a purchase hence having an informative and user
friendly website is the first step in showcasing our authenticity
✓ The information on a website helps in helping the customers to know about
the product & overall business credibility.

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 Search Engine Optimization
✓ SEO is a system of generating traffic to the website through organic i.e.,
free search.
✓ It is the result which appears when a website is optimized at the back
end using the right keywords. This helps search engine to showcase the
best possible result to a user.
✓ Tools such as SEMrush, Moz, and Ahrefs assist in optimizing website for
search engines, improving online visibility and attracting organic traffic.
✓ The most important elements to consider when optimizing a web page
for search engines include:
✓Quality of content and Level of user engagement
✓Mobile-friendliness
✓Number and quality of inbound links
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 Main Types of Search Engine Optimization

On Page SEO: On page as the name suggests, is done for our own website pages. When
we are creating a website, the data and technical aspects are completely in our control. A
user friendly website with rich content and relevant keywords definitely help us in ranking
our website on top search results

Off Page SEO: Off-page or Off-site SEO is done through external links. Our website will
rank better in search page if the traffic is generated through other sources to our website.
For example—Social media links, features/mentions/links from a higher traffic website etc.

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Universal SEO: Data is just not text. On SERP (Search Engine Results Page), we see
information in the form of video, images, text & audio (VITA). Universal or blended SEO is a
practice to optimise VITA to get maximum weightage and higher ranking. A few good
practices are keyword rich content, quality title & description, crisp URL etc.

Local SEO/Google My Business: Local SEO is done to promote our business in a

local area. If our business has multiple branches or even if it’s a small business/service it is
essential to provide our address/location, phone number, timings etc. The idea is to make
the user connect with our business easily and effectively.

Technical SEO: This is the most important and advanced type in SEO. This means the
data on our website should be interpreted easily by search engine crawlers. The goal is to
upgrade the framework of our site to improve ranking on SERP

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 Example of
Universal SEO

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 Example of
Local SEO

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 Example of
Technical SEO

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 Online marketing
(Search Engine Marketing)

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How Search Engine Marketing works ?
✓ When an internet user searches for specific keywords or phrases while
looking for a product or service, text ads are showcased on search engine
pages. The results appear due to the keywords used by the searcher.
Hence, it’s essential to use at least 12–15 important keywords in our ad. In
order to advertise on search engine, we need an AdWords account which is
a easy tool provided by Google
✓ Search advertising is also known as PPC (pay per click) advertising.

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 Display Advertising

This is one of the most common type of ads we come across while
browsing. It could be in a video or image format and is largely based
upon user behavior.

For e.g.—We are planning a holiday and want to book tickets on

Make My Trip website. However, for some reason we didn’t make
the purchase and close the website. The next time we login to any
website such as Facebook/YouTube, ads related to travel agencies
will be flashed on our screen
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 Content Marketing

✓ Content Marketing is one of the most popular types of Digital Marketing.

People love to spend time on online content like blogs, videos, or
attractive images .
✓ If we provide informative and interesting content to our audience, we will
end up creating our own loyal base of regular content consumers. If our
audience shares the content, our network will grow and drive traffic to
our website.
✓ Consistency is key with any form of content. It takes time and effort, but
in the long run, we will find that we have accumulated a loyal audience
that trusts our brand.

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 Content Marketing
✓ Digital media is designed to promote a product or
service. It can take many forms, such as articles,
infographics, videos, or images.
✓ Roughly 90% of content gets zero traffic from Google.
That means around 10% of content is getting 100% of
the traffic.

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 Email Marketing
✓ Email Marketing can play a vital role within overall marketing strategy.
✓ Email marketing can be used across the customer lifecycle to encourage customer
acquisition and retention.
✓ Emails directly communicate with audiences on a 1-2-1 basis
✓ Email campaigns can target various audiences, effectively & efficiently, with personalized
messaging. We can Wealso
haveuselot
external database
of external for email providers
database campaigns.
✓ Email communications can be used for
❑
available in the market such as Indiamart ,
Information about new Products
❑ RenewalsAsmi People , Vlead Database etc.
communication
❑ Invitation for Events like Customer Meets / webinars
❑ Birthday / season’s greeting
✓ Tools such as Marketo, Pardot, and ActiveCampaign automate marketing tasks like
sending emails, segmenting audiences, and tracking customer behaviour.

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Professional Social and
Digital Marketing skills

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Social Media Management: Being adept at managing and growing social media
platforms like Facebook, Twitter, Instagram, LinkedIn, and others is crucial. This
includes creating and scheduling engaging content, monitoring analytics,
engaging with followers, and running social media advertising campaigns.

Content Creation: Strong content creation skills are vital. This involves writing
compelling copy, creating eye-catching visuals, and producing engaging videos.
Understanding different content formats and tailoring them to specific platforms
is important.

Digital Advertising: Knowledge of digital advertising platforms like Google Ads,

Facebook Ads Manager, and LinkedIn Advertising is essential. We should
understand campaign setup, targeting, budgeting, ad design, and optimization
techniques to maximize results.
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Search Engine Optimization (SEO): Understanding the fundamentals of SEO helps
us to improve website visibility in search engine rankings. This includes keyword
research, on-page optimization, technical SEO, link building, and staying
updated with search engine algorithm changes.

Analytics and Data Interpretation: Proficiency in analyzing data and drawing

insights is critical. Tools like Google Analytics, social media analytics, and
marketing automation platforms help us to track campaign performance,
measure KPIs, and make data-driven decisions.

Email Marketing: Building effective email marketing campaigns requires

knowledge of list building, segmentation, email automation, and creating
compelling email content. Familiarity with email marketing platforms like
MailChimp, Campaign Monitor, or HubSpot is beneficial.
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Influencer Marketing: Understanding how to identify, engage, and collaborate
with relevant influencers can amplify our brand's reach and engagement. We
need to develop skills in influencer research, outreach, negotiation, and
campaign management.

Conversion Rate Optimization (CRO): Optimizing websites and landing pages to

increase conversion rates is a valuable skill. This involves A/B testing, user
experience analysis, heat mapping, and applying psychological principles to
improve conversions.

Social Listening and Monitoring: Monitoring brand mentions, customer

feedback, and industry trends across social media helps us in understanding
consumer sentiment and adapting marketing strategies accordingly. Tools like
Hootsuite, Brandwatch, or Mention aid in social listening.
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 Need of the hour …..

✓ In an industry where companies tend to change their approaches slowly,

the insurers that will likely win are that ones that can innovate quickly
and respond to consumers’ changing sentiments and capture the digital
acceleration.
✓ We need to adopt new digital tools and intelligent automation to help
reduce mundane manual work and cut operating costs.

✓ The need of the hour is to pursue both product and process innovation
— a complete redesign leveraging today’s enabling technologies.

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Do you have enough and sufficient
reach on Social Media ?

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LIC has 62,33,000 followers on Facebook, 1,03,400 on Twitter,
1,33,000 on Instagram & 1,05,000 subscribers on YouTube as on
5th Feb 24 ……….

Wishing you all the best for widening

the reach on digital media so as to get
maximum mileage from digital
interventions ……

Avinash
Avinash V. Patil
V. Patil (M : 99606 40660) 55