In a previous article, we learned about the detailed Swiss Re. In this blog, we are going to elaborate on the marketing strategy of Manulife –A Canadian multinational insurance company and financial services provider.
The objective is to learn and gain insights into Manulife and how it became a multinational insurance company and financial services provider in the world.
The world has fully adapted to the use of the internet, and marketing is the backbone of every industry. For a more in-depth insight into digital marketing do check out our Free Masterclass on Digital Marketing by the CEO and founder of IIDE, Karan Shah.
We will learn the entire marketing strategy of Manulife by the end of this blog. Before going any further, let’s begin with the company’s introduction, digital presence, and targeted audience.
About Manulife –
Source – Wikimedia Commons
Manulife Financial Corporation is a multinational insurance company located in Canada and one of the largest in the world. It is headquartered in Toronto, Ontario. The company operates in Asia and Canada as “Manulife” and in the USA as John Hancock Financial division.
Its headquarters are found in different parts of the world as the United States of America, Japan, Europe, Cambodia, China, Hong Kong, Indonesia, Japan, Malaysia, Philippines, Singapore, and Taiwan. It was founded in 1887A.D as Manufacturers Life Insurance Company Inc. It is the 28th largest fund manager in the world based on worldwide institutional assets under management (AUM).
They provide insurance, financial advice, as well as wealth and asset management solutions for individuals as well as companies.
Quick Stats on Manulife
|Area Served||Asia and Canada, and the United States|
|Industry||Financial services (insurance)|
|Market Revenue||CA$39.0 billion (2018)|
|Vision||To help people achieve their dreams and aspirations, by putting customer’s needs first and providing the right advice and solutions.|
|Tagline||Decisions made easier. Lives made better.|
Marketing strategy of Manulife –
Let’s find out more about the marketing strategy of Manulife. First, let’s understand its STP Analysis.
Segmentation, Targeting, and Positioning
Segmentation – Provider of financial and insurance services Life and health insurance, reinsurance options, and casualty retrocession are among the target markets.
Targeting – Manulife targets individuals as well as Businesses for insurance services.
Positioning – Giving clients’ most important financial decisions solid, dependable, trustworthy, and forward-thinking solutions
In march 15,2022 A child star and a Comedian helped Manulife to carry out a conclusion through their podcast. The girl discussed how Manulife helped her family overcome their financial crisis as she was a differently able child and her medicine was quite expensive.
Manulife Hong Kong launched a health voucher charity program to offer free healthcare services for underprivileged families on March 17, 2021.
Based on the results of checkups, registered nurses were provided with up to 2,000 beneficiaries with medical advice and Manulife-sponsored health vouchers.
With these vouchers, beneficiaries can choose the most suitable option from a range of services such as body checks, physiotherapy, general practice consultation, nutrition consultation, traditional Chinese medicine, acupuncture, and dental care.
On October 9, 2019, Manulife, Malaysia Insurance firm Manulife offered a free retirement plan worth up to $250,000 to be won via an online game, accessible on a specially created microsite. The campaign was created with the customer experience specialist agency Union.
The mechanics of the game involved vaults where players were to repeat a sequence of randomly displayed lighted buttons from memory.
They would be rewarded in the virtual currency of Manulife dollars through three levels of increasing difficulty. The campaign ran through October and featured weekend challenges with prizes of up to S$1,000 for the taking.
The 32 competitors with the highest scores competed in the final round at a live event on November 9 at Singapore’s Jewel Changi, with the winner taking home a retirement plan worth S$250,000.
According to Manulife, the game was an “intentional step away from the ‘gloom and doom’ approached to insurance”.
Social Media Marketing
- Instagram – 15.6K+
- Facebook – 168K+
- LinkedIn – 246K+
- Twitter – 16.2K+
Manulife is active on Social Media like Twitter, Instagram, Facebook, and Linkedin. It has the maximum number of followers on LinkedIn. The posts contain mostly promotional and informational content along with some posts related to their programs.
Source – UberSuggest
According to SEO rankings, it is said that the number of keywords having fewer than 500 keywords is bad, having more than 1000 is good, and having more than 10,000 is amazing.
As can be seen,https://www.manulife.com/ has 18,780 organic keywords, which is a high number. This indicates that Manulife’s digital marketing is getting a significant amount of insights.
Additionally, the monthly traffic is known to be typical at 90K+. Therefore, Manulife has solid SEO tactics that are sufficient to keep the brand climbing the Google organic SERP rankings.
Manulife and collaborated with different organizations, countries, YouTubers, and Comedians. They are associated with different NGOs and INGOs that help them increase their reach across the world. Influencer helps the product (Manulife) to gain recognition and sales with an increase via their fan followings.
In talking of e-commerce strategies Manulife has its website from where they sell their products with special offers. They are associated with different NGOs and INGOs which helps them further to increase their audience reach.
They offer the option to sign up and register on their website to file a claim for insurance or to fill out a form.
Manulife has a mobile app on the google play store Manulife Bank Mobile. It has 3+ ratings and 1L+ downloads. This mobile app helps you with group benefits and group retirement.
You can easily submit claims, utilise your benefits card, seek information on medications and less expensive options, and find healthcare providers nearby thanks to a modern, easy design.
You can monitor the progress of your retirement savings from anywhere. Always be aware of your financial investments and your progress toward your objectives!
Content Marketing Strategies
In a company with social media, Manulife publishes some blogs and articles for its content marketing strategy.
This brings us to the end of the marketing strategy of Manulife.
What’s unique about the marketing strategy of Manulife?
In the marketing strategy of Manulife, we could see that the company was gathering support and admiration from all around the world. Thanks to its financial support and plans, its plans and name are becoming more and more well-known worldwide.
Even if Manulife’s digital marketing strategies need improvement, the company is still working to develop and expand its presence online.
As is well known, pandemics that impacted every industry caused a significant shift in digital marketing. According to data on digital marketing, over 60% of people worldwide utilise the internet. Due to the pandemic and the widespread use of internet shopping, it increased by 20% over the last two years.
The reputation of a well-known business is really crucial. The methods used in advertising can make or break a company’s reputation. Effective campaigns may be created with digital marketing, and any errors can be quickly fixed while guiding them.
This shows how important digital marketing is for today’s business growth. If you are interested in learning digital marketing and upskilling yourself then check out Online Digital Marketing Course and MBA in Digital Marketing Course.
We hope this blog on the marketing strategy of Manulife has given you a good insight into the company. This concludes our in-depth examination of Manulife’s marketing plan. Let’s sum up everything that we’ve learned here.
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