HDFC Life grows qualified leads by 175% on LinkedIn
HDFC grows qualified leads by 175% on LinkedIn
From audience quality to lead quality
HDFC Life, as one of India’s leading private life insurance companies, has an active marketing presence on LinkedIn that has been evolving:
- Pre-COVID-19: HDFC Life, led by its Branding team, focused on top-of-funnel objectives on LinkedIn while its performance marketing team relied largely on display network advertising for lead generation
- Now: HDFC Life has adopted a full-funnel, brand to demand strategy on LinkedIn, leveraging top-of-funnel engagement to drive bottom-of-funnel results
As the COVID-19 situation unravelled and India began experiencing job losses, it became a challenge validating leads from display network advertising —audiences may show interest but do they have the financial confidence to buy an insurance product? LinkedIn helped address that.
For Prasad Pimple, Senior Vice President – Ecommerce & Digital Marketing, this signalled a need to pivot to LinkedIn for demand generation efforts.
"We know the quality of LinkedIn audiences so we went full-funnel with our paid media efforts and leveraged the organic engagement that our Branding team was already creating on the platform. With this approach, the quality of leads that we’re getting is much higher—in fact, we’re already seeing sales happening."
Executive Vice President, Ecommerce & Digital Marketing, HDFC Life
Brand as a foundation for faster nurture
Research has found that audiences exposed to both brand and demand messages on LinkedIn are six times more likely to convert. HDFC Life’s performance marketing team took this to heart and developed a full-funnel demand generation strategy on LinkedIn that built on the brand’s community engagement.
Paid media content was carefully crafted to offer guidance around economic, financial and job stability and offer assistance. From awareness, the team found that the time-to-conversion became much faster. And while Cost Per Lead from LinkedIn is marginally higher than HDFC Life’s previous experience with display advertising networks, the team is convinced that the quality makes it worthwhile.
Yogin Vora, HDFC Life’s Senior Manager – Ecommerce & Digital Marketing, explains their approach:
1. Audience retargeting based on segments who were engaging with their Branding team’s top-of-funnel content on LinkedIn
2. Used paid media formats to drive visitor traffic to its website, where the LinkedIn Insight Tag had been installed to unlock insights into visitor behaviour and demographics
3. With website demographics as a reference, created Lookalike Audiences on LinkedIn to seek out new audiences with similar traits and profiles
HDFC Life is one of India’s leading private life insurance companies, offering a range of individual and group insurance solutions. It is a joint venture between Housing Development Finance Corporation Limited (HDFC), India’s leading housing finance institution, and Standard Life plc, the leading provider of financial services in the United Kingdom.
Headquarters: Mumbai, India | No.of Employees: 10,000+ | Industry: Insurance