Reported by: banking|Updated: August 31, 2020
Facebook is a good platform to reach many demographics & age groups:
Digital platforms have always been a major part of Aegon Life Insurance Co’s marketing and advertising strategy. The company is using Facebook for reaching out to its customers and disseminating messages. It believes that Facebook is the most used social media platform in the world, with over 2 billion people using it.
Satishwar Balakrishnan, CFO & Principal Officer, Aegon Life Insurance, says Facebook is not bound by a certain set of demographics; people of most age groups use this social media platform for their various communication and information needs.
He says the huge userbase of Facebook makes it an ideal social media platform for the company to communicate with its customers and market its products. S “We have leveraged Facebook to reach out to our customers and engage with them on subjects that are relevant and useful. We have also reached out to potential customers with product related messaging that they may be of interest to them,” he explains.
Users, he says from across the country have shown interest in the communication that the company puts out and since the internet penetration is high in urban areas, there are more users from metros and mini metros.
All the information about the company’s products is available on Facebook as also other major social media platforms. Balakarishnan says the company’s term insurance product has generated maximum interest on digital platforms but Facebook being the most used social media platform, it is ideal to disseminate the messages about the company’s products.”
IN COVID TIMES
Aegon Life Insurance has dedicated a significant budget for promoting its brand online. Besides Facebook, its marketing budgets are also allocated to platforms such as Google, Instagram, etc. A major part of the spending even before the pandemic has been concentrated on digital platforms, hence, there were no major changes in the marketing communication strategy during the covid times.
Balakrishnan says: “During these times of crisis, we realised that it is our responsibility to educate people about this pandemic. Recently, we have launched an industry-first hospitalization + death cover for covid on the Flipkart app; majority of our Facebook campaigns were concentrated on this announcement. Apart from this, many of our campaigns on Facebook during covid were educational and a few were activity campaigns to keep people occupied and entertained during the lockdown.”
Facebook marketing campaigns