About Reliance Life Insurance:
Reliance Life Insurance (RLIC) is a part of Reliance Capital of the Reliance Group. Reliance Capital is one of India’s leading private sector financial services companies, and ranks among the top private sector financial services and non-banking companies, in terms of net worth. Reliance Life insurance was founded in 2005. The firm offers life insurance products targeted at individuals and groups, catering to four distinct segments: Protection, Children, Retirement & Investment plans. The company is by far the largest non-bank supported private life insurer with over 10 million policy holders, a strong distribution network of over 800 branches and over 1,00,000 advisors as on March 31, 2015
Marketing Challenge & Objective
In 2013, RLIC conducted a research on what makes them different than most other life insurers. They found out that the key factor behind their success was the extraordinary service provided by their advisors to their valued customers. Planning their future and standing by them in their hour of need was more than just business for them, it was a selfless intent of thinking well for others. And thus the idea of ‘Do Good’ was born – the belief and code that RLIC advisors live by. The new challenge for RLIC was in extending this philosophy to the social media platform. The firm primarily faced two problems:
- Determining the role of social media in the life insurance industry.
- How to lead and engage a layman on a life insurance page as the category was unanimously believed to be daunting, complicated and unengaging.
Digital Marketing Strategy
The fundament of the marketing strategy was to look out for what would make the customers form a stronger bond with RLIC. The initial research across 10 cities in 2013 observed that advisors who displayed greater empathy and went beyond their call of duty to help others were more successful in forging stronger bonds. This was the genesis of ‘Do Good’.The campaign was laid out in three phases over a period of 18 months.
The first phase was about letting the idea evolve and manifest itself through campaigns evolving around designing the logo, launching the micro-site, DoGood.co.in and defining the purpose of ‘Do Good’ among others. The next phase was setting the values in motion. On policy level changes were announced as to keep the 12 day claim guarantee promise, tackling the menace of mis-selling through the spurious call campaign and starting priority service for senior citizens. The final and most promising phase involved the extension of the ‘Do Good’ campaign to the digital users through social media platforms to inspire them to ‘Do Good’ and create brand awareness. Facebook was the primary platforms to reach out to the digital masses. A number of Facebook campaigns were initiated to interact with the audience and call them for action on numerous events.
Diwali – #GiftaDiwali. A campaign to encourage people to share, donate and help the needy. Independence Day – #DoGoodinSaichen. A campaign to support our brave warriors on the highest battlefield on earth to safeguard the Line of Control. Gandhi Jayanti #GandhiInme – A campaign to serve those who served you
Over the period of 18 months the ‘DoGood’ campaign reached and outstanding result of reaching 1114% Engagement as % of fans on Facebook. This is the highest amongst competition in the category and by a huge margin. In terms of numbers, Reliance Life Insurance has led the category with an engagement of 30,08,617 by 2,70,107 followers. ‘Do Good’ has been rated as one of the Top 5 social campaigns in Asia by Campaign Asia. Users were touched emotionally and shared and commented the posts multiple times. The number of fans of RLIC though were low in comparison to the competitors.
Source: Reliance Life Insurance
This campaign surely manifested the philosophy and belief of RLIC of doing good. Once the user was reached the interest and interaction was visible. Two main factors led to the increase of engagement after starting the DoGood. Firstly, emphatic stories of average people doing good deeds in the society connect easily with people as it requires minimal effort to win them over. Secondly, paid promotion reached the relevant audience targeted by this campaign. As a result of this campaign has the (TAT) turn around time for queries at RLIC has reduced significantly. It went down for 2 mins on average.
Image Credits: Reliance Life Insurance