A social media learning for BFSI brands

New media channels help retrieve data that can then be inferred to understand consumers better. ICICI Lombard’s #ILoveMe campaign helped the BFSI brand derive data to understand women and their lifestyle choices better.

Giving Valentine love a new meaning, #ILoveMe campaign carried out a survey on Facebook and Twitter  targeting women; questioning their awareness towards their own health.

Achal Deoda – Business Head Mumbai, KRDS India mentioned, “This is an interesting case where the brand stepped out of the regular social interaction strategy followed by the industry. This primary research not only enabled ICICI Lombard to know the customer better on ‘social’ but also help the community to understand better about the choices they make and influence the future ones.”

How often do you tend to fall ill? Have you heard of these routine medical tests?  Do you prioritize your loved one’s health over yours? - were some of the questions that were raised during the survey.

1000 women participated in the survey in the age group of 22-55.

The results were inferred and then displayed in the form of Infographics, rather than stereotypical graphs.

According to Sanjay Datta, Chief-Underwriting & Claims, ICICI Lombard GIC Ltd., “It is an irony that despite playing multiple roles, women ignore their own health and well-being. Infact, the multi-responsibility avatar is precisely the reason why they should ensure good health for themselves. Today’s woman needs to give her health, its due importance and health insurance is the critical tool which can help support and stay protected from the perils of her hectic life style.”

Building the brand voice 

ICICI always weaves in its brand voice through the importance of life angle in its social media contests; the latest being #RuleTheRoad where
they asked users tricky questions to test their knowledge of roads on Twitter.

#RuleTheRoad: You come across this #beautiful lake while on a #roadtrip in Sikkim, #India. Which #lake is this? pic.twitter.com/khhNH7L2To

— ICICI Lombard GIC (@ICICILombard) July 6, 2015

On the Global front, in 2013 Bupa Health insurance  created a YouTube to bring to light, its new launched app 'Ground Miles' whose aim is to encourage to walk more. The video was was based on a larger than life, comical character Chad who plays the character of the best walker.

According to a report by Capegemini, 1/3rd of the business for insurance brands is generated from their social media platforms. According to the report, campaigns revolving around timely events, inspiring stories are being received well on social media. However, more posts do not imply a successful digital strategy. Along with digital strategies, social media monitoring must be given equal weight if not more.

Although, BFSI strategies involve serious issues that can get dull, the one edge they have is, providing useful content to their users, directly or indirectly that can then help create awareness to make the necessary lifestyle changes.