Beyond a click: How Tata AIG General Insurance powered profitability with Google AI
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Beyond a click: How Tata AIG General Insurance powered profitability with Google AIJune 2023
In pursuit of key business outcomes, finance brands leading the digital charge in India are moving beyond conventional offline metrics to focus on the online customer journey. Riaan Rodrigues, senior VP of digital business and marketing at Tata AIG General Insurance, shares how his team tapped into Google AI-powered marketing solutions to connect with their most valuable customers and amplify results.
To grow its leads to sales results, Tata AIG General Insurance adopted a first-party data strategy that hinged on cross-functional team collaboration. The leading general insurance brand then enhanced its marketing by applying a combination of broad match keywords and Performance Max to value-based bidding.
Watch the interview to learn how Tata AIG General Insurance experimented with Google AI to acquire quality leads at scale and drive profitable growth across channels.
Ask anyone in the finance world and they’ll tell you that offline channels are king.
But, the conventional offline metrics might not be sufficient for an online business.
Once we identified the right combination of products, Google AI-Powered Ad Solutions helped us drive the profitability of our search-base leads and achieve our deeper business objectives.
Hi, my name is Riaan Rodrigues and I’m the Senior Vice President of the Digital Business and Marketing at TATA AIG General Insurance.
All businesses can benefit from Google’s Value-Based Bidding if they want to focus towards their most valuable customers and move closer towards key business outcomes.
At TATA AIG General Insurance, finding those meaningful metrics was critical to profitability.
We were initially skeptical about Broad Match and Value-Based Bidding.
However, we were eager to move away from tracking metrics like Clicks and CPA only.
We knew that Lead to Sale journey mapping and Data Integration would be necessary steps in order for this to work and identify our most valuable customers.
But, completing Data Integration was no small feat.
With a significant amount of our data sitting with the call center team, we knew that cross-functional team collaboration between our call center, client IT, e-business and Google teams would take some work.
However, it would significantly contribute to driving more profitable leads and better return on marketing investments with Google.
After almost three months, we’d achieved the right mix with Google AI-Powered Ad Solutions.
Not only had our acquisition costs dropped, but we saw a lift in revenue and return on ad spend as well.
Now that we had tested and achieved the right metrics, scaling was simple.
What we also figured out is that Search is constantly evolving and the way people ask questions is becoming more intuitive.
When we applied a combination of Broad Match and Performance Max to Value-Based Bidding, we saw even better results across our business with Google.
Using AI signals and data via Broad Match, we were able to drive leads at scale efficiently and reach customers that weren’t earlier getting captured by exact and phrase.
Broad Match helped further improve our coverage and led to an increase in both incremental sales and revenue across our travel insurance policies.
To top it all, paired with Search, Performance Max helped us capture better growth opportunities across Google channels.
We were able to amplify results, drive business value and an exponential return on ad spend.
Beyond a click, digital engagement or lead Google AI-Powered Ad Solutions have helped us think differently about Search.
Now that we can optimize towards deeper business objectives, there’s no limit to our lead potential.
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