Digital Affinity Marketing (DAM) is a channel strategy that involves high volume lead generation through to a digital life insurance quote and sales platform within a captive audience of customers. This is different to digital strategies that may be available through a broad-market ‘push’ strategy (direct to a wide audience of consumers promoted via media such as TV, radio and press).
For Precision Marketing’s Japanese business, since the introduction of the program in November 2015, the DAM strategy is already exceeding our KPI’s. The current program has been developed to make available several simple issue life insurance products through to a large credit card customer base through a ‘captured customer’ environment.
Multiple, and continual digital lead generation tactics are driving digital traffic to the tailored quote and sales platform, which enables a ‘straight through’ processing functionality. Billing success rates are also enhanced, given the fact that we are working with a captured base of affinity partner customers.
In Japan, lead generation tactics include banner advertisement (links) from the card servicing site, and also via new credit card acquisition campaigns. Targeted e-mail campaigns to cardholders, applying the functionality delivered through Precision Marketing’s Campaign Factory are also in place (supported by advanced database marketing, modelling and segmentation activity and web based analytics).
Given the programs’ success, there are now several opportunities to replicate the DAM initiative and apply the smarts with simple issue products with our partners in Indonesia, and also with new partner opportunities in Australia.
We look forward to providing updates on the success of the channel strategy as we develop our programs throughout Asia.