The leading Indian life insurance company harnesses the power of Netcore’s advanced marketing automation platform to increase its last click sales contribution through direct channels from 1% to 12% in less than 6 months
MUMBAI, Nov. 21, 2019 /PRNewswire/ — Netcore Smartech, the AI-powered behavioural analytics and customer engagement platform, today announced that it has recently helped Max Life Insurance increase sales contribution of direct Channels by 11% for the E-Commerce Business.
Netcore Smartech’s cross-channel marketing automation capabilities have helped the leading life insurance company generate 7000 new leads with a 9% CTR and 2% sale conversion from dropped leads reactivation campaigns. Along the way, data-driven personalized marketing campaigns through Netcore Smartech helped generate 6% of the total website leads per month.
Prior to integrating with Netcore Smartech, Max Life had a large number of anonymous visitors landing on its website but was unable to convert major segments of this audience into registered customers over a period of time.
Furthermore, Max Life observed a large number of their leads dropping off while there was a high turnaround time between Payment to Policy Issuance. They also wanted to reactivate old leads and reduce manual intervention with regards to the Medical Process and Documentation stages. These critical challenges required the conceptualisation and execution of personalised cross-channel customer journeys at scale.
As part of its dynamic data-driven marketing automation strategy, Netcore Smartech identified the best possible channels of engagement relevant to different customer segments and what stages of the conversion funnel they found themselves at. By empowering the company to accurately map out the various digital paths to conversion on the website, Max Life was able to gain visibility on drop-offs and saw an increase in the generation of new leads.
Netcore Smartech also enabled Max Life Insurance to increase their direct channels sales contribution by automating customer journeys with hyper-personalised messaging to increase conversions and reduce drop-offs. This resulted in INR 25 Lakhs monthly additional business generated by reactivating old leads – all attributed to Netcore Smartech.
Vaibhav Kumar, VP & Head- Ecommerce & Digital Marketing at Max Life Insurance elaborated, “In our industry, term insurance has a long look to book window that can extend to almost 30 days. Moreover, payment to policy issuance involves multiple stages. Thanks to Netcore Smartech’s integrated cross-channel marketing automation solution, our last click sales contribution through owned media has increased from 1% to 12% in less than 6 months. We look forward to building on our partnership with Netcore as we work towards addressing other industry-specific use cases so we can continue to deliver incredible customer experiences consistently.”
Kalpit Jain, Group CEO of Netcore Solutions said, “Customer renewals usually eat up a lot of time while also leaving a possibility of confusion along the way. Managing this process can be a huge challenge as it involves constant human involvement across different product lines. Netcore Smartech has emerged as the optimal solution to address this challenge. While being an industry-agnostic platform, the results achieved by Max Life Insurance highlights how effective our solution is when it comes to the distribution and servicing of life insurance products. It also highlights the critical role of targeting the right customers with hyper-personalised marketing campaigns through the right channel, at just the right time.”
About Netcore Solutions
Netcore, a global Marketing Technology company that offers solutions to help brands and enterprises in customer acquisition, engagement, and retention. The first and leading Marketing Automation, Analytics and AI/ ML solutions provider in India, Netcore was established in 1997 by Mr Rajesh Jain, an Internet pioneer. Netcore’s product suite includes Smartech and Pepipost. Smartech is an AI-powered growth marketing platform. Pepipost is an API based Email sending product.
Netcore serves a strong base of 3000+ enterprises across industry verticals, like Thomas Cook, Go Air, Cleartrip, HDFC, Kotak, Axis Bank, ICICI Bank, MakeMyTrip, Lenskart, Swiggy, Myntra, BabyChakra, Dream11, Reliance, Vodafone, ITC, OLA, Pfizer, OLX along with International brands PizzaHut Malaysia, Malindo Airlines, Philippine Airlines, Seek Asia, Tokopedia, Blibli, Standard Chartered, FCMB, GT Bank and many more. Netcore, with its’ innovative marketing technology, delivers 8+ Billion emails & 3+ Billion SMSs a month, creating 11+ Billion Customer Connects monthly and handles 30+ Billion Events a month. Netcore is headquartered in Mumbai, India with offices in SEA, USA, MEA and an employee base of 500+.
For more information on Netcore Smartech – an AI-powered growth marketing platform, visit: https://www.netcoresmartech.com
For more information on Netcore, visit https://netcore.in
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