Amazing marketing tools boost Sun Life sales
In a conservative industry like financial services, is there room for new and amazing things? In a sector that cherishes security and stability, can surprises be accommodated? Fortunately, Sun Life Financial Philippines (SLFP) found out that innovative marketing tools can help boost sales, and that something amazing can be profitable and remarkable as well.
One of these amazing marketing tools is SLFP’s latest market education campaign called “Amazing-i.” With its objective of convincing the public about the amazing power of insurance and investment, SLFP decided to bring its products closer to where the company’s target publics mingle and converge: at the malls.
“Malls have replaced parks as a venue where families, couples and friends go to relax and unwind. It made perfectly good sense to bring Sun Life closer to its natural market,” explained SLFP head of marketing services Mylene Daez-Lopa. Ship-like booths were set up in shopping centers around
Called the Amazing-i ship, this marketing tool is manned by SLFP agents to help them generate sales as well as referrals. The Amazing-i ship is also equipped with a presentation about today’s business environment as well as with a financial explorers quiz to engage the interest of visitors about insurance and investment.
“It is really a market education campaign meant to counter the negative sentiment of most Filipinos brought about by current market uncertainty and rising commodity prices; educate them on financial planning; provide solutions to their financial worries; and make insurance and investments less intimidating to them,” said Lopa.
Indeed, this amazing marketing approach proved to be an effective medium to boost sales of SLFP. “ On the scale of one to ten, I would say this marketing strategy would rate an eight or a nine in bringing in good results and in helping Sun Life be the top among the country’s financial services companies today, “ revealed Lopa.
And in the years that these amazing marketing tools were used, SLFP posted healthy gains. As of end 2007, the company generated consolidated sales of P26 billion from its three product lines of life insurance, pre-need and mutual funds. This is about 61 percent higher than the previous year’s level.
With campaigns like “Amazing-i” helping bring in significant sales record for SLFP, it is not surprising to know that the company would continue to use these novel approaches. “We believe in the relevance of such a strategy and we will continue to create better campaigns to help boost sales. There is stiffer competition out there and we need to think of more creative and better ways to sustain Sun Life’s leadership,” declared Lopa.
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