Posted by Mumbai: HDFC Life ties with Google to restructure the company’s campaigns with marketing automation.
HDFC Life’s Google partnership aligns with its philosophy to collaborate with innovative tech companies and startups to drive business outcomes.
HDFC Life runs multiple, complex and cost campaigns across platforms to reach potential target audience on various devices.
iProspect, a market agency parter of HDFC Life has been able to leverage the tie-up for using machine learning built into Google Ads. This helped to target potential customers with relevant ads through fewer Search Marketing campaigns and targeting groups (i.e. ad groups).
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Machine learning (ML) 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%.
“This joint engagement with Google and iProspect has yielded superior results in terms of increase in ROI and decrease the lead costs,” said Vishal Subharwal, EVP e-commerce and Digital Marketing – HDFC Life.
“This is in line with our continuous endeavour to enhance our reach and offer financial security to more individuals,” added Subharwal.
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“Working closely with HDFC Life Insurance and their agency, our teams were able to simplify the Search Marketing campaigns using automation,” said Vikas Agnihotri, Country Director – Google India.
“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,” said Vikas Agnihotri, Country Director – Google India.