In our previous case study, we learned the marketing strategy of Zurich Insurance. The main objective of this blog is to make readers understand the marketing strategy of Tokio Marine through its marketing techniques.
Insurance forms generally have a complicated structure with an en- number of client data, insurance team multiple agents and strong competitors.
To survive in this marketing business marketing strategies consumer understanding tactics play a vital role with the advent of digitization marketing has become technical and digitised.
If you are interested in pursuing a career in digital marketing then you can definitely check out IIDE’s free Masterclass on Digital Marketing 101 conducted by our CEO and founder Karan Shah.
Before we fully understand the marketing genius of Tokio Marine, let’s first know a little bit about the company!
About Tokio Marine
Source – ContactCenterWorld.com
A global insurance holding firm with its main office in Tokyo, Japan is called Tokio Marine Holdings, Inc. It is the parent firm of the Tokio Marine Group, which has 39,000 employees across 38 nations and is the largest property/casualty insurance group in Japan in terms of revenue.
Management of non-life insurance companies, life insurance companies, specialised securities companies, foreign companies engaged in insurance businesses, and any other company that is or may become a subsidiary of the Company in accordance with the provisions of the Insurance Business Law of Japan, as well as any other business pertaining to the foregoing item, constitute the main business of Tokio Marine.
One of the few keiretsu (Japanese for “big conglomerate”) Japanese companies, Mitsubishi, includes Tokio Marine.
|Revenue||JP¥ 4,579,076 million (FY 2015)|
|Vision||To be a Good Company|
|Tagline||Good Company Better Society|
Let’s look at specific Marketing Strategies by Tokio Marine, they are as follows!
Marketing Strategy of Tokio Marine –
Tokio Marine believes that the right technology and a mature analytics approach are critical for data-driven marketing success. This is why Tokio Marine’s marketing strategy was moving towards a real-time model that supports timely and accurate customer messages.
Segmentation, Targeting and Positioning
The key to Tokio Marine’s success was targeting the right schemes for the right people. Ultimately, anyone with knowledge and a futuristic vision of handling finances would know that a harbour is important, in terms of, insurance schemes, non-insurance schemes, securities etc to fall back upon!
The older forms of advertisement which were through billboards and television advertisements were used to target elder people in general. Even elderly marathons were put to play for awareness of the same.
The younger generation with increasing levels of curiosity was catered to through Mass Available Online Courses. These were made available on their website and it did cater to a remarkable balance that they wanted to strike.
China Life – Asian giants China Life and Tokio Marine have joined forces to jointly promote and expand their insurance products through a cross-marketing partnership, the Taipei Times reports.
The partnership was announced at a joint press conference in Taipei last Tuesday, attended by key executives from both companies.
The new agreement will allow China Life distributors to sell Tokio Marine’s non-life insurance policies. Stephanie Huang, president of China Life, said this will allow her company to quickly meet the growing needs of property and casualty insurance among consumers.
She also said that setting up a property and casualty insurance division within China Life would require a lot of time and resources, but the partnership will enable us to respond quickly to demand without compromising service quality.
Meanwhile, Tokio Marine will train approximately 15,000 China Life sales representatives to become Tokio Marine sales representatives under the partnership.
Capgemini – The first phase of implementation involved the line of business operating in the London marketplace and included complete data migration, integration and coordination with downstream systems, and agreement and implementation of new working methods.
The implementation was completed jointly on an aggressive schedule and marks an important milestone for Tokio Marine HCC given the size, complexity and sophistication of what was delivered.
Home Furnishings – Through a membership-based association, they have developed bespoke promotions designed to help clients achieve their marketing goals and increase brand awareness through this compelling method of customer engagement.
Insurance drives traffic, increases sales, and has a big impact on your next marketing campaign. Talk about the excitement of big prizes while you sit back and relax knowing someone will pay the bills.
With membership, customers can expect:
- Differentiate yourself from your competitors by offering your customers huge prices with no risk of marginal rewards
- Create a buzz for your business so consumers talk about it
- Sales have been recorded throughout the campaign period, and in some cases, sales have more than doubled compared to the previous year.
Social Media Marketing
Tokio Marine can also be found on
- Facebook- 2 M followers
- Instagram- 411 K followers
- LinkedIn – 84.4K followers
Source – UberSuggest
As we can see, Tokio Marine has 10,074 keywords which show that this website is really good when it comes to searches related to its keywords. Apart from that, the monthly organic traffic has more than 20K per month which shows that the company has a good response from online consumers.
Tokio Marine has been quite famous when it comes to collaboration with celebrities. Their national campaign ad held last year featured many celebrities using Tokio Marine’s insurance.
Imagine all talented celebrities under one roof. Isn’t that exciting? Famous celebrities like Kevin Hart, LL COOL J, Dave Grohl and many more.
The campaign was definitely a hit and the best part about it was that users related it with their real-life problems that got solved because of their presence.
Tokio Marine has not only great design on its website but it’s also user-friendly. Moreover, the plans they have are detailed and clear. They have also added every single event that occurred through the company.
Their blogs too consist of good content writing. The website in itself is fully complete from the basic minimums like contact and about the company but also has an ease of navigation. It is very user-friendly and conveys information in a simplistic manner.
Online Courses started by Tokio Marine– Tokio Marine has started stirring certain growth-related courses in the market for the consumers to attract attention and to link themselves with an image of spreading and promoting knowledge and welfare among its consumers!
This has been done through the introduction of courses on growth strategy, digital marketing, video and photography, branding and creative designs, websites and apps, event management, and media buying! This is called the “Light Up 7”.
Their marketing team assists in boosting potential revenue growth with their work that cultivates meaningful relationships and long-term brand loyalty through exceptional digital experiences.
Tokio Marine has a mobile app too! Regular Customers of Tokio Marine can browse and track various details of their investments too! It is a user-friendly app and has easy access for its users.
This app allows you to connect Tokio Marine to your smart TV and have a more expanded browsing and tracking experience. Not just this, its calendar-set automated notification system helps its customers not be behind any deadlines or good deals!
Content Marketing Strategies
Tokio Marine is active in terms of updating its blogs. Every single collaboration, every new stream, and every event update are always updated on their blog. Besides that, their social media handles have the same updates.
Recently Tokio Marine has updated its second-quarter finance information. Also, their social media handles score on the relatability quotient, as whether it be festivals or celebrations of important dates, they do not miss out on that!
Conclusion – What’s unique about the marketing strategy of Tokio Marine?
Overall, Tokio Marine’s marketing strategy is excellent. The distinctive selling proposition of Tokio Marine is its collaborations through which it pursues its insurance schemes.
To be able to equip people with the Insurance mindset for future securities they have worked a long way! Its collaboration with the famous Capgemini and China Life is taking a faithful stroll among the people and works well as persuasion.
This collaboration helped the company to attract more audiences and bigger profits.
Tokio Marine’s social media marketing strategies are pretty good! To give a gist of it, planning the post calendars along with insights into health and damage seems like a wise engagement.
Through posts, they stir up activities among the masses. They are active, just that they need to gear up a little in this field.
Talking about the company’s SEO strategies, they are great at it! SEO is an essential part of digital marketing. Since the pandemic, digital marketing has grown widely and immensely.
Today, every company requires digital marketers. To excel in digital marketing, you can check out IIDE’s Online Digital Marketing Course.
We hope that this blog has given you good knowledge about the specific association-based marketing strategies of Tokio- Marine.
If you would like to learn and get insights into other such companies really utilising some aspects of marketing very well, check out IIDE’s Knowledge Portal. This portal covers many interesting case studies to charge your brain cells!
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