How #ARM Worldwide Helped Canara HSBC Life Insurance Promote their Young Term Insurance Plan through Influencer Marketing

Introduction

Securing the future of oneself and one’s family is a priority that can be effectively addressed through life insurance. With increasing environmental and lifestyle factors affecting life expectancy and healthy living, life insurance has become essential. Canara HSBC Life Insurance offers standout term insurance plans, focusing specifically on younger demographics, and with a maximum entry age of 45 years, they are an ideal choice for people seeking affordable insurance coverage options.

Challenges

Despite the plan's competitive premium rates and exclusive features making it appealing to the target demographic, the team faced several challenges, including : Limited knowledge and understanding of benefits among the target audience. Reaching a broad and diverse audience to generate awareness and consideration, especially among those not keen on investing, through optimal mediums at the best possible cost. Establishing brand authority with relevant, resonant content that directly speaks to the target demographics and entices them to make a purchase. To tackle these challenges, the team partnered with ARM Worldwide’s influencer marketing team, leveraging influencers to effectively reach and engage the target audience through a strategic influencer marketing campaign.

Objectives

The primary objectives of the campaign were to: Increase awareness about the Young Term Insurance Plan among the right demographics. Create strong brand recall.

Strategy

To meet the objectives, a comprehensive influencer marketing strategy was devised to maximise the impact of different platforms and communicate our message effectively: Influencer Selection: Influencers from diverse genres, including tech, nutrition, fitness, finance, travel, lifestyle, fashion, yoga, and infotainment, were carefully selected. This influencer mix included both nano and micro-influencers to reach different segments of the target group effectively. Relatable Scenarios: Simple and resonant situations were scripted to show how insurance leads to a more secure future for individuals from diverse backgrounds. Content Analysis: An analysis of competitive content was conducted to understand which scripts and content styles resonate well in this target group. Insights from this analysis were used to develop engaging and effective content tailored to the audience. Custom Plans: Three distinct content buckets were designed based on influencer categories wherein each plan focused on different aspects of the campaign, ensuring comprehensive coverage and maximum impact. Implementation The implementation phase involved several key steps to ensure the campaign's success: Scripting: We carefully coordinated with influencers to write scripts aligned with client expectations, offering comprehensive creative units. Content Creation: Short, focused video snippets ranging from 45 to 50 seconds were produced with engaging hooks and content to retain maximum viewer attention while conveying all essential product details. Editing and Supervision: Active involvement in the video creation process ensured all critical elements were included and the content met quality standards. Posting: Creative captions and hashtags were used to maximise visibility and ensure the right message was conveyed, further strengthening the influencer marketing campaign. Engaging Content Formats: Beyond video content, AI technology was utilised to create engaging AR filters for nano influencers. These filters showcased interactive, game-like everyday scenarios where the insurance plan would be beneficial, significantly enhancing overall engagement and user experience.

Results

The campaign garnered impressive engagement, achieving: Over 69K likes 1.3 million views 75K+ shares A total reach of 1 million+ Beyond these metrics, the campaign's impact was evident as renowned competitors replicated its format and content style, demonstrating the influence it had on the industry. Additionally, multiple queries from viewers led to the inclusion of links directing them to relevant web pages, further increasing engagement and total page views.