Life Insurance Corporation of India (LIC)Case Study

Background

The Life Insurance Corporation of India (LIC), a major team player in the insurance sector, felt a need to recruit new agents and sell their policies in the financial capital of country, Mumbai. The LIC promotes itself in every segment — TV, newspapers, radio, hoardings, and others.

With the experiential marketing tool of Roll N Scroll, the LIC wanted to set a benchmark in branding and advertisement, with an objective to boost business and recruit new agents.

Objective

The main objective of LIC was recruit agents, sell policies, generate leads and create awareness on how significant a life insurance policy is for everyone.

Breaking Barriers

Breaking all the barriers such as permissions from local and municipal authorities, Roll N Scroll managed to complete the task of maximum leads and agent recruitment within the time frame of six months.

Stepping ahead from traditional print and broadcast media, the LIC today has goodwill among people and has conquered the trust of people who were not easily reachable.

Current Scenario

Indian economy is booming on every facet — digitization, marketing, and branding. With every new day the companies are promoting their brands in every possible way.

Since the last two decades, marketers have witnessed a gradual shift from print advertisements and are ready to experiment with their brand image using new channels.

Experiential Marketing

Experiential marketing aims to bridge the gap between potential clients and the brand with one to one interaction. Experiential marketing is about planning, designing, and analyzing the target group and area and draft the best strategy to promote the brand in an effective way.

Engaging Roll N Scroll

Emerging as leader in OOH advertising, BTL marketing sector with its innovative marketing strategies and attractive advertising mediums, Roll N Scroll aimed to promote the brand with unique methods in every corner of the city and reach the potential target.

With the eye catchy advertising vehicles, Roll N Scroll lifted LIC’s brand to their customers’ doors. They were able to easily promote, interact, and leave a long lasting impact of their brand on customers.

‘Office on Wheels’ for LIC of India Mumbai Division

LIC of India’s Mumbai Division signed a six-month contract with Roll N Scroll for Mobile Office.

The aim of the activity was to recruit maximum agents with LIC and generate maximum leads from several crowded locations across Mumbai.

Road Ahead for Activation

Roll N Scroll understood the objective and accordingly acted on it, and created ‘Office on Wheels’ for LIC. After research and study, we suggested to place ‘Office on Wheels’ in the most crowded places such as railway stations, residential complexes, colleges, malls, gardens/parks, markets, and food joints.

Execution

For six months, ‘Office on Wheels’ covered major railway station premises in morning peak hours from 10am, followed by colleges and residential complexes in the afternoons, and food joints and parks in the evenings till 8pm. During festivals such as Diwali, Gudi Padwa, and New Year, we targeted locations with high footfalls.

Lead Generation

To fulfill the aim of maximum agent recruitment and lead generation, using experiential marketing techniques, Roll N Scroll deployed a supervisor to help LIC Development Officers in interacting with the potential customers.

The supervisor interacted with people and approached them to visit inside the Mobile Office. Once, the potential customers got inside, the supervisor asked visitors to register their names and contact details.

In this way LIC reached the potential customers who were willing to be a part of LIC but due to their busy schedules, they were not able to reach the LIC Branch office. The Mobile Office was useful to them.

“When LIC briefed us about their requirement, we were quite sure about the results they were expecting. Reason being, exclusive vehicles have always had best performance. LIC was a new challenge for us as earlier we had used Mobile Office extensively for real estate sector, where it produced extra-ordinary results. The results from initial weeks were so phenomenal that we were confident the activity will stay true to its objective and set a benchmark, and it did!”