Manulife x EZSale: How To Grow Customers Fast With Low Cost
Manulife Insurance is the second largest insurance company in Vietnam. In order to survive and maintain its position, the business has faced many difficulties. And on that journey, Manulife partnered with EZSale to improve its business.
Let’s find out how Manulife Insurance and EZSale have combined!
- 1 A Brief Introduction To Manulife Insurance
- 2 During The Saturation Period Of The Insurance Industry, What Difficulties Did Manulife Face?
- 3 What Made Manulife Insurance Decide To Go With EZSale For A Long Time?
- 4 Conclusion
A Brief Introduction To Manulife Insurance
Manulife Vietnam is a subsidiary of Manulife Financial Group (international headquarters in Toronto, Canada). Established in Vietnam in June 1999, Manulife operates in the financial and insurance consulting business. With wealth management services for individuals, groups and organizations.
Up to now, the company has more than 1.5 million customers with 87 offices across the country. With a team of extremely powerful and professional consultants. Manulife boasts a 23-year history as the first foreign-invested life insurance company in Vietnam.
During The Saturation Period Of The Insurance Industry, What Difficulties Did Manulife Face?
Just like many other businesses in the industry. Manulife Insurance faces stiff competition. That’s why it’s harder than ever to find and attract customers. Not to mention finding the wrong target customers also costs businesses time and money.
However, the Covid-19 epidemic brought Manulife to “narrow” the budget. This forces businesses to cut costs for advertising and system management. While advertising is the main tool to collect data of businesses.
No customers will cause business to stagnate, lose money, and discourage employees. Market share gradually fell into the hands of businesses with stronger investment. This will cause businesses to not have enough money to support themselves in the long run.
While the demand for insurance is increasing day by day. To increase revenue, businesses need to increase quality customer data first. Manulife Insurance found that the old ways of finding customers were not enough to meet the needs of businesses. So they look to technology solutions to better support this.
And after a while of researching and finding out. Manulife has decided to choose EZSale’s Customer Finder. Let’s find out why Manulife decided to choose EZSale!
What Made Manulife Insurance Decide To Go With EZSale For A Long Time?
Provide a data set based on Manulife’s customer portraits
Every business needs a specific customer profile. From there to accurately determine their behavior in order to provide an appropriate approach. There are many businesses because they do not search for customers based on available portraits. Cause the amount of Data collected is mostly junk Data, Data is not needed. This is not only time consuming but also costly.
With EZSale’s Customer Finder. Through identifying customers, EZSale will search for places where they often appear. With Manulife Insurance, where customers most often appear are forums on social networks such as: Life Insurance – Association of Consultants, Review of Health – Maternity – Life Insurance, Insurance Disclosure, Answer questions about life insurance,…
EZSale will use Social Listening to scan Data on the above forums with 3 platforms: Facebook, Google Maps, Business registration. Allows searching for both individual and institutional customers. Therefore, the amount of data collected with a high rate is the data that is in need or is learning about insurance.
Increase the amount of data in a short time
Compared with the usual way of searching for Data, EZSale helps Manulife Insurance increase 63% of potential customers after only 1 month. Because, EZSale’s Data scans usually return results after only 30 minutes to 1 hour. This saves businesses a lot of time. Manulife can focus more on Telesale and its sales.
Actively reach customers without depending on advertising
Like many businesses, Manulife Insurance also relies heavily on advertising to bring in Data. This method is still effective, but has high costs and businesses are not proactive. Sometimes advertising campaigns cost a lot but the amount of data collected is not much. And Manulife had to passively wait for Data to come back.
Meanwhile, with EZSale, Manulife completely does not need to depend on advertising and still has Data. This is a pioneering solution to help Manulife Insurance increase flexibility and be more proactive in working.
Low cost, high efficiency
With the number of customers increasing 3-4 times, it can be said that the effectiveness that EZSale brings to Manulife is undeniable. Compared to advertising, the cost for EZSale is 3 times lower (only from 66k/day).
Thanks to low cost, high efficiency. Manulife Insurance can devote more resources to other activities of the business. However, with the feature of being automated by technology, Manulife’s data search does not require additional personnel. That means, employees can spend more time on customer care and convince them to choose them.
Suitable for all service packages that Manulife offers
By using technology to search Data. Most of the service packages that Manulife Insurance provides, EZSale can be applied to find suitable customers. Since each service pack will have a different target audience, they will all appear in the appropriate places. Just by finding the right forum, the foundation is Manulife was able to increase customers quickly thanks to EZSale.
As can be seen, on the journey of increasing customers of Manulife Insurance. EZSale has contributed significantly in helping businesses find and reach the right target audience. Up to the present time, Manulife is the leading name in the insurance field in Vietnam. With a large market share and huge customer base, Manulife Insurance is a prestigious choice for every individual, family and community.
However, not only with Insurance, not having customers is a serious problem for every business. Is your business facing the same difficulties as Manulife? And you need advice? Please leave your information below, EZSale’s consultants will directly answer all your questions to help you best improve your business.