They focus on providing insurance productsand solutions tailored to customers' individual needs, covering personal life insurance,health insurance, pension insurance, property insurance
About Dai-Ichi Life
Company introduction
Dai-Ichi Life is a reputable and long-standing insurance company, headquartered in Japan and operating globally Dai-Ichi Life provides life and property insurance services for individuals and businesses.
Dai-Ichi Life prioritizes customer satisfaction and security by tailoring insurance products and solutions to meet their specific requirements Their offerings encompass a broad range of insurance covers, including personal life insurance, health insurance, pension insurance, property insurance, and risk insurance, catering to customers' diverse financial protection needs.
Dai-Ichi Life not only meets customers' primary financial protection needs but also provides professional consulting and support services to help customers shape and achieve their long-term financial goals With a solid foundation and long-standing experience, Dai-Ichi Life has built customer trust and become one of the first insurance companies in the world.
Vision
Vision Statements: “Protect and improve the well-being of all”
As a lifetime partner, we safeguard and contribute to the peace of mind,prosperity and wellness of all the people we serve.
Mission
Since our foundation in 1902, the Dai-Ichi Life Group has always put our customers first.
This philosophy continues to guide us as we move forward We contribute to local communities by passing on peace of mind through the provision of life insurance and related services As part of the Dai-Ichi Life Group, all our companies will continue to stand by the side of our customers and their loved ones, for life.
To help build a sustainable society and continue to meet the expectations of customers, society, shareholders, investors and employees, we have adopted the following corporate action principles ("DSR Charter").
"DSR" stands for "Dai-Ichi Life's Social Responsibility," a unique framework for using the PDCA cycle company-wide to continually improve management quality and satisfy our social responsibilities to all stakeholders, while increasing the corporate value of the Dai-Ichi Life Group.
We provide high-quality products and services with the intention of standing by the side of our customers for life In everything we do we strive to exceed our customers' expectation and achieve customer satisfaction with outstanding speed.
We hold ourselves accountable to our stakeholders and sincerely accept their opinions, reflecting them in our corporate management.
We set the bar high for ethical standards and conduct business activities in a fair and sound manner We maintain full compliance in all our business activities.
We respect the culture and customs of every country and region, always operating in a way that contributes to local development We also respect human rights and proactively operate in a way that reflects this.
We respect diversity and actively develop and motivate our employees by ensuring a safe, secure, and rewarding work environment where every member has an opportunity to play an active role.
We actively engage in environmental protection on a daily basis, recognizing that preserving the global environment is our social responsibility.
We head social action programs, growing together with communities as an active corporate citizen.
We manage the Company to help improve the health of the people in our local communities We also promote the mental and physical health of all employees.
Guided by eight key principles, we strive to foster sustainable corporate value As an innovation pioneer, we leverage our managerial resources to optimize business productivity, assuring financial stability By upholding these principles, we aim to establish ourselves as a leading force in innovation and drive the continuous improvement of our operations.
Dai-Ichi Life - "Gắn bó dài lâu"
When coming to Vietnam, Dai-Ichi Life's purpose is "Everything for people",and "Long-term commitment" as the slogan that the insurance company is using.
Market segment
Segmentation
2.1.1 Segment base on product line
Fig: Dai ichi life's two main product lines
Based on the product line, it is temporarily divided into two segments that the company is approaching: individuals, families and organizations In which, for individuals and families, we have products in the category "Products according to life stages", for organizations, we have a part in the category "Products according to financial needs".Specific examples are as shown below:
Fig: Dai ichi life's Product For business
Data from Dai-Ichi Life Vietnam indicates that individual sales contribute more value compared to the corporate segment This disparity stems from several factors, including a larger individual customer base and a tendency for individuals to purchase higher-value insurance products through consolidated channels Notably, the average value of a personal insurance policy is 200 million VND, while the average value of a business insurance policy is 100 million VND Consequently, the total value of the individual sales segment reaches 10,000 billion VND, significantly higher than the 5,000 billion VND value of the corporate organization segment.
The corporate organization segment still has a lot of development potential.According to a report by the Vietnam Insurance Association, life insurance for businesses accounts for about 20% This is said to still leave many opportunities for
Dai-Ichi Life and other insurance companies to take advantage of this market To increase the value of the corporate entity segment, Dai-Ichi Life can carry out the following activities: strengthen cooperation with businesses to introduce insurance products and services, provide products and Insurance services that suit the needs of businesses and improve the quality of customer service for businesses Implementing these activities will help Dai-Ichi Life expand its corporate customer network and increase its market share in this market.
Dai-Ichi Life primarily targets individual customers despite the potential in the organizational segment This is attributed to the company's long-standing expertise in personal sales and its extensive agent network, enabling it to effectively reach individual customers Moreover, individual customers have significant financial protection needs, making them receptive to life insurance products.
For the corporate organization segment to become a major segment member of Dai-Ichi Life, the company needs to continue to invest and develop this segment. Specifically, Dai-Ichi Life needs to focus on the following activities: strengthening cooperation with businesses to introduce insurance products and services, and providing insurance products and services suitable to customers' needs businesses and improve the quality of customer service for businesses Implementing these activities will help Dai-Ichi Life reach more businesses and increase its market share in this market.
Despite holding a limited market share, the corporate segment remains untapped by Dai-Ichi Life due to several key reasons Firstly, Vietnamese businesses often underestimate the significance of life insurance Secondly, Dai-Ichi Life's current products and services fail to cater to the specific needs of businesses To address these challenges, Dai-Ichi Life must innovate and develop tailored insurance solutions and strengthen partnerships with businesses to educate them about the value of life insurance.
In overall, the Dai-Ichi Life’s product can be divided into two main categories:
These are businesses and organizations that purchase products and services from other businesses and organizations Business customers can be further segmented by industry, size, and location Consumer customers: These are individuals who purchase products and services for personal use Consumer customers can be further segmented by demographics, psychographics, and behavioral data.
Business-to-business (B2B): Small businesses, Medium-sized businesses,Enterprise businesses, Government agencies, Non-profit organizations.
Companies and organizations can also segment their customers by the specific products or services that they purchase For example, a software company might segment its customers by the type of software that they use or the size of their organization.
Customer segmentation data empowers companies to craft targeted marketing campaigns, enabling them to customize strategies for specific segments A classic example is a cloud computing service provider segmenting its marketing efforts, creating tailored campaigns for small businesses, medium-sized enterprises, and large enterprises.
Customer segmentation can also be used to improve customer service For example, a company that sells consumer electronics might train its customer service representatives to handle different types of inquiries from different customer segments Overall, customer segmentation is a valuable tool that companies and organizations can use to better understand their customers and meet their needs.
Fig: Dai ichi life concerns in countries around the world
Over the last five years, Google Trends analytics indicate varying interest in Dai-Ichi Life globally Countries with high interest, represented by blue shading on a world map, are primarily located in Asia, with the most pronounced interest in Japan Conversely, countries with lower interest are shaded non-blue on the map.
1), China, Korea, Vietnam (top 2), Thailand, Indonesia and India This can be explained by several important factors.
First, economic development in Asian countries has created a strong financial foundation and increased demand for life insurance Dai-Ichi Life, with its long history and reputation in the industry, has become the top choice for those seeking financial protection and future security.
Second, Dai-Ichi Life has invested heavily in developing life insurance products and services suitable to the specific needs of Asian people The diversity and flexibility in insurance packages has attracted the attention of customers and created a trustworthy and safe environment for investment.
In addition, interest in Dai-Ichi Life is also increasing in European and North American countries This growth can be explained by the growing awareness of the importance of life insurance and the need for financial protection in the post-pandemic period Dai-Ichi Life's presence and expansion of business activities in new markets has also created interest and trust from customers in this region.
Therefore, Dai-Ichi Life will popularize and focus on more segments and customers in the Asian market Especially markets with high potential like Vietnam.
Fig: Dai ichi life's concerns in sub-regions in Vietnam
End-user analysis
Criteri Family a Baby/ child/ kid
Financial protection, medical care, dental care, vision care
Financial protection, medical care, dental care, vision care, accident insurance, critical illness insurance
Help paying for retirement, children's education, or a home, coverage for specific needs such as long-term care or travel.
Financial protection, medical care, dental care, vision care, long-term care insurance
Income Depends on their Family Already have financial independence
Wants Best possible care, affordable insurance
Coverage for sports and hobbies, help paying for college or other educational expenses
Help paying for retirement or long-term care, coverage for specific needs such as travel or end-of-life care
Motivations Protect children from financial hardship, provide children with the best possible care
Protect themselves from financial hardship, meet eligibility requirements for certain activities or programs
Protect themselves and their families from financial hardship, meet eligibility requirements for certain programs or services Protect themselves and their families from financial hardship, meet eligibility requirements for certain programs or services
Table 1.1 Market segmentation end-user of Dai ichi Life
Target segment
Dai-Ichi Life Vietnam's target customer age group is 20-58 years old Within this age group, the 29-42 age group is a particularly attractive target market This is because people in this age group are typically in the workforce and have families to support They are also more likely to be financially stable and have disposable income to spend on life insurance.
To effectively engage the target audience of 29-42 year-olds, Dai-Ichi Life Vietnam should align its marketing strategy with their specific needs and values This involves creating campaigns highlighting the crucial importance of financial security for young professionals and families Moreover, Dai-Ichi Life Vietnam can tailor its product offerings, including child education insurance and retirement planning solutions, to cater specifically to this age group's financial aspirations.
To effectively reach the 29-42 age group, Dai-Ichi Life Vietnam can leverage digital marketing strategies Social media and search engine platforms present opportunities for targeted advertising campaigns Additionally, creating content tailored to the specific needs and interests of this demographic will reson
By understanding the needs and values of the 29-42 age group, Dai-Ichi Life Vietnam can develop more targeted and effective marketing, sales, and product development strategies.
The target audience for life insurance coverage falls within the 29-42 age range This demographic is characterized by their active participation in the workforce and the responsibilities of providing for their families Their financial stability and the availability of disposable income make them more likely to invest in life insurance as a means of securing their future financial well-being.
Geography: People in the 29-42 age group are more likely to live in urban areas than people in other age groups This is because urban areas offer more job opportunities, higher salaries, and a wider range of amenities.
Behavior: People in the 29-42 age group are more likely to be active consumers of financial products and services They are also more likely to use the internet to research financial products and services.
Psychographics: People in the 29-42 age group tend to value financial security, family, health, and education They are also more likely to be ambitious and career-oriented.
A brief summary table is as follows:
Major cities: Dai-Ichi Life Vietnam has a strong presence in major cities in
Vietnam, such as Hanoi, Ho Chi Minh City, and Da Nang.
Income group Middle - to high-income earners
Occupation Workers with a stable income.
Life style Values: Financial security, family, health, and education
Lifestyle: Urban, professional, and family-oriented
Social Class Middle - to high-social class
Purchases life insurance and other financial products to protect their financial future and ensure the well-being of their loved ones.
Research financial products and services online and in-person.
Seek advice from financial advisors.
Table : Target customer of Dai ichi Life
Main message of Dai-Ichi Life
The main message that Dai-Ichi Life Vietnam wants to convey through each tool is the importance of financial security and peace of mind Someone who protects your financial future and takes care of your loved ones in your family However, there are some similarities and differences in the content they want to convey to customers through each direct marketing tool These tools include email, webinars, phone calls,and direct mail.
Distribution channel
Sales Channel
Dai-Ichi Life Vietnam offers a direct sales channel where customers can connect with dedicated sales representatives Potential clients can reach these representatives conveniently via the company's website, social media platforms, or direct phone contact This approach provides customers with personalized guidance and support throughout the product and service acquisition process.
Agent sales: Dai-Ichi Life Vietnam also sells its products and services through a network of insurance agents Insurance agents are independent contractors representing Dai-Ichi Life Vietnam and other insurance companies.
Bancassurance: Dai-Ichi Life Vietnam has partnerships with several banks in
Vietnam to provide products and services to banking customers Bancassurance is a type of distribution channel in which insurance products and services are sold through banks and other financial institutions.
Dai-Ichi Life Vietnam is increasingly investing more in offline sales channels because these channels bring a number of benefits that digital channels cannot replicate Traditional sales channels allow insurance companies to build personal relationships with their customers This personal relationship plays an important role in creating trust and confidence in customers when dealing with an insurance company.
Sales representatives and insurance agents receive specialized training to assist customers in selecting products and services that suit their individual needs. Especially for complex insurance products such as life insurance or retirement plans, this expert advice becomes extremely important.
Traditional sales channels offer convenience for customers who prefer personalized interactions These channels allow customers to engage directly with sales representatives or insurance agents, enabling them to ask questions and receive immediate responses Customers can clarify doubts, seek advice, and make informed decisions while enjoying a face-to-face experience.
Reliability is also an important factor when using traditional sales channels. With insurance companies having used these channels for many years, customers are familiar with and trust the trustworthy nature of these channels This is especially important for customers who are new to insurance or are looking for a complex insurance product In addition, their distribution channels also cover the whole country, which can help customers come and buy them anywhere.
Ultimately, sales representatives and insurance agents have the ability to help customers understand and learn about the different life insurance products available in the market They can provide detailed information and product selection that best suits each customer's needs and priorities.
Fig: Dai-Ichi Life's distribution network in the Southern region - Ho Chi Minh City
Direct Tool
In addition to these direct marketing tools, Dai-Ichi Life Vietnam also uses other distribution channels to reach customers and potential customers, such as its website, branch offices, and insurance agents.
Fig: Direct Tools of Dai ichi Life
Dai-Ichi Life Vietnam leverages direct marketing tools, including email marketing, to connect with potential customers Through targeted email campaigns, they share valuable information about products, promotions, and financial planning, fostering direct and personalized communication with their audience Email marketing allows them to nurture relationships, provide insights, and cultivate trust, enhancing their overall customer engagement and acquisition efforts.
Another effective tool utilized by Dai-Ichi Life Vietnam is hosting webinars
By organizing webinars on various financial topics, such as retirement planning, wealth building, and insurance, they position themselves as experts in the field These webinars serve as educational platforms, allowing Dai-Ichi Life Vietnam to showcase their expertise and demonstrate how their products and services can assist customers in achieving their financial goals.
Dai-Ichi Life Vietnam also recognizes the value of direct interactions through telephone sales Their sales representatives proactively reach out to customers and potential customers to discuss their individual financial needs and provide tailored recommendations This personalized approach helps build trust and allows for a deeper understanding of customer requirements.
In addition to digital methods, Dai-Ichi Life Vietnam leverages direct mail campaigns They utilize direct mail pieces to deliver targeted information directly to customers, including updates on new products, special offers, and financial planning advice This tangible approach helps capture attention and provides customers with a physical reminder of Dai-Ichi Life Vietnam's offerings.
Furthermore, Dai-Ichi Life Vietnam embraces the power of social media as a direct marketing tool They actively engage with customers and potential customers on platforms like Facebook, Instagram, and LinkedIn Through their social media presence, they share relevant and engaging content, such as product information, educational materials, and updates Additionally, they leverage social media advertising to expand their reach and connect with a wider audience.
By employing a diverse range of direct marketing tools, Dai-Ichi Life Vietnam effectively communicates with their target market, educates them about financial planning, and promotes their products and services This multi-faceted approach allows them to establish strong customer relationships, generate leads, and ultimately drive business growth.
Dai-Ichi Life Vietnam effectively utilizes a range of direct marketing tools and distribution channels to engage with customers and promote their offerings They employ email marketing by sending regular newsletters to subscribers, providing updates on new products, services, special offers, and financial planning tips Dai-Ichi Life Vietnam also leverages email marketing to promote webinars and events Webinars play a significant role in Dai-Ichi Life Vietnam’s strategy, as they host informative sessions on various financial topics and send email invitations to subscribers
Dai-Ichi Life Vietnam employs telephone communication as a key channel, with a dedicated phone line accessible on their website Proactive sales representatives engage customers and prospects directly, assessing their financial requirements and offering tailored solutions that align with their specific needs.
Direct mail campaigns are also employed, where Dai-Ichi Life Vietnam sends targeted information about new offerings, special promotions, and financial planning tips to their customers and potential customers Through these direct marketing tools and distribution channels, Dai-Ichi Life Vietnam ensures effective communication,personalized engagement, and widespread promotion of their products and services.
Direct Marketing programs
Email Marketing "Hành trình Sức khỏe & Hạnh phúc"
Dai-Ichi Life Vietnam carefully segments its email list to ensure that customers receive relevant information Segmentation is based on various criteria, including age, gender, income, occupation, and location.
For the "Hành trình Sức khỏe & Hạnh phúc" campaign, the segmentation might include targeting middle-aged and elderly customers, as they are more likely to be interested in health-related insurance products.
Personalization is a key element of Dai-Ichi Life Vietnam's email marketing strategy The emails are personalized with recipient names, dates of birth, and policy information.
For the health campaign, personalization may involve tailoring content based on the customer's life stage For example, content for a young family might focus on child health insurance, while content for seniors could discuss health coverage for retirement.
The content of the email includes information about the "Hành trình Sức khỏe
Dai-Ichi Life's "& Hạnh phúc" health campaign focuses on providing health-related information and resources to customers The campaign includes educational events, webinars, and other materials that cover topics such as financial planning and the company's insurance products These events aim to promote health consciousness and empower customers to make informed decisions about their financial future.
According to Statista research, the average open rate for email marketing campaigns in 2023 is 20.83% and the average click-through rate is 2.42% This means that for every 100 emails sent, 20.83% of recipients will open them and 2.42% of recipients will click on links in the email.
Dai-Ichi Life Vietnam uses email marketing to send customers and prospects information about new products and services, special offers, and financial planning tips Dai-Ichi Life Vietnam also uses email marketing to promote webinars and other events
Dai-Ichi Life Vietnam's marketing email preparation process usually includes the following the process:
Establishing well-defined objectives is crucial for a successful health campaign These objectives should align with specific goals such as raising awareness about health insurance, generating potential leads, or fostering audience engagement for an upcoming event.
Audience segmentation plays a crucial role in email marketing campaigns by dividing the email list into targeted groups This division is based on demographics and customer history, allowing marketers to tailor messages that resonate with each group's specific characteristics and preferences By delivering highly relevant and personalized content, marketers can enhance engagement, drive conversions, and nurture stronger customer relationships.
Create Content: The team develops the email content, including subject lines, text, and images Content is designed to be clear, concise, persuasive, and relevant to the specific audience It should encourage recipients to take desired actions, such as event registration or website visits.
Test and Send: Before sending emails, the team rigorously tests them to ensure they display correctly on all devices and that links function as expected Subject lines and content are tested to identify which resonate best with the audience Once the email is ready, it's sent to the segmented list.
Tracking and Analytics: After sending the emails, the team closely monitors the campaign's performance Metrics such as open rates, click- through rates, and conversion rates are tracked and analyzed The results provide insights into what worked well and where improvements are needed for future campaigns.
Frequency: Dai-Ichi Life Vietnam may reduce the frequency of email marketing campaigns Some customers may find that they receive too many emails from the company.
Subject line: Dai-Ichi Life Vietnam can improve the subject line of email marketing campaigns Subject lines should be clear, concise, and attention-grabbing.
To enhance customer engagement and drive conversions, Dai-Ichi Life Vietnam should incorporate a compelling call to action in their email marketing campaigns This call to action should clearly communicate the desired action, whether it be visiting the company website, registering for a webinar, or making a purchase By providing specific instructions, the call to action empowers customers to take the next step towards interacting with the brand.
Telemarketing "Hành trình Sức khỏe & Hạnh phúc"
Generate leads: The Telemarketing campaign will help Dai-Ichi Life reach potential customers who are interested in life insurance Through phone calls, Dai-Ichi Life employees will introduce the company's products and services, from which they will collect information and assess customer needs.
Increase sales: The Telemarketing campaign will help Dai-Ichi Life increase sales by persuading potential customers to purchase the company's products and services Through phone calls, Dai-Ichi Life employees will answer customer questions and provide helpful information to help customers make purchase decisions.
Build brand awareness: The Telemarketing campaign will help Dai-Ichi Life build brand awareness in the minds of customers Through phone calls, customers will hear about Dai-Ichi Life and its products and services This will help customers remember Dai-Ichi Life and have a more favorable impression of the company.
Receive feedback from customers: Through phone calls, Dai-Ichi Life can receive feedback from customers about the company's products and services This will help Dai-Ichi Life improve the quality of its products and services, better meeting customer needs.
Typically, the objectives of Dai-Ichi Life's telemarketing campaigns are prioritized based on the specific events or circumstances at hand In the case of the ongoing direct marketing campaign for the "Journey to Health & Happiness" health seminar, Dai-Ichi Life's objectives are as follows:
Invite customers to attend the seminar: The primary goal is to extend invitations to customers, encouraging their participation in the health seminar.
Taking care of your health is of utmost importance for your overall well-being and happiness A healthy body and mind are essential for a fulfilling and enjoyable life Neglecting your health can lead to physical and mental ailments, compromising your quality of life By prioritizing your health, you invest in a brighter and more prosperous future, setting the foundation for an active, happy, and fulfilling life.
Offer guidance and address customer inquiries about products/services: Provide customers with information, guidance, and answers to any questions they may have regarding Dai-Ichi Life's products and services, especially those related to health and well-being. b) Budget:
Because Dai-Ichi Life offices operate and compete independently of each other, the way to allocate budget for Telemarketing activities among offices is different and inconsistent Normally, the costs to calculate the budget of a Telemarketing campaign include:
Personnel costs (Salaries, bonuses, training and recruitment expenses for telesales staff)
Software and technology costs (Software acquisition costs, software rental costs, software maintenance and upgrades costs, call center rental costs, telephone and computer equipment costs, etc.)
Advertising and marketing costs (Advertising costs on media channels, printing costs for promotional materials, etc.)
Other costs (Office rental costs, utilities, etc.) c) Target audience:
For Dai-Ichi Life, the most important customer segments in the specific insurance service business are targeted through telemarketing campaigns Given the wide reach and volume of customer interactions in telemarketing, effectively targeting the customer segments with insurance advisory needs will increase the company's conversion rates and enhance the overall efficiency of direct marketing activities Dai- Ichi Life strives to approach specific customer segments based on the following criteria, depending on the telemarketing campaign:
Middle-Aged Customers (e.g., 24-50): Targeted for health and life insurance, emphasizing the need for comprehensive coverage as responsibilities grow.
Elderly Customers (51+): Targeted for health and retirement planning, highlighting the importance of ensuring financial security and health support in retirement years.
Female Customers: Targeted for health and wellness insurance, emphasizing the importance of proactive health management and family well-being Address concerns such as maternity coverage.
Male Customers: Targeted for life and health insurance, highlighting protection for themselves and their families.
Higher-Income Customers: Targeted for comprehensive insurance products with higher coverage, such as health, life, and investment- linked policies, focusing on long-term financial security and wealth preservation.
Lower-Income Customers: Targeted for basic health and accident insurance, emphasizing affordable coverage and protection for unexpected events.
Professionals (e.g., office workers): Targeted for health and wellness insurance, promoting a balanced lifestyle and protection against common workplace health issues.
High-Risk Professions (e.g., construction workers): Targeted for accident and health insurance, emphasizing coverage for work-related risks.
Disease-Prone Areas: Targeted for health insurance, particularly in regions with higher disease risks Highlight the importance of financial protection against unexpected health issues.
Natural Disaster-Prone Areas: Targeted for comprehensive insurance, including health and property, to protect against the impact of natural disasters. d) Scenario:
For the "Hành trình Sức khỏe & Hạnh phúc" campaign, the telemarketing script will be designed based on the Customer Journey, preparing appropriate responses to ensure smooth phone calls and uphold the brand awareness.
Step 1: Discovery & Engagement (Awareness & Engagement)
Telemarketing staff will call potential customers.
Greet and introduce the "Journey to Health & Happiness" event at Mường Thanh Luxury.
Based on prepared materials, provide a brief overview of why this event is worth attending, including the importance of family health and potential health risks.
Ask customers about their level of interest in health-related issues.
If customers express interest, inquire about their goals for attending the event.
Suggest the benefits they can gain from participating in the event.
If customers have any doubts or questions, provide specific information to address them.
Provide information about the program, the quality of speakers, and the accompanying seminar.
If customers decide to participate, guide them on how to register.
Provide assistance in completing the registration if needed.
Step 5: Call Closure and Follow-up (Post-Decision & Follow-up)
End the call by expressing gratitude and confirming the customer's contact information.
Document all important customer information and the details of the call.
Send a confirmation email with event details.
Plan for follow-up leading up to the event.
Interested customers with questions: Provide specific information, discuss benefits, and answer any questions to alleviate concerns.
Customers with no immediate time: Inquire about a suitable time to contact them again or suggest alternative ways for them to access event information.
Customers who decline or are not interested: Respect their decision, take notes, and confirm their contact information for potential future contact.
Customers who want to join immediately: Guide them through the registration process and provide necessary information.
Customers requesting additional information: Assist them in obtaining supplementary information or send reference materials.
Customers with other issues: Provide support in resolving any issues related to event participation.
To measure the effectiveness of Dai-Ichi Life's telemarketing campaign in Ho Chi Minh City, Dai-Ichi Life calculate and track the following metrics and provide average results for each rating point:
Total Calls Answered Successfully ÷ Total Calls Made
Total Potential Customers Converted into Actual Customers ÷ Total Calls Answered
Assess based on criteria such as communication skills, customer satisfaction, and problem-solving ability of the staff Rate each call on a scale (e.g., 1 to 5) for quality.
Total Customers Who Cancel ÷ Total Customers Purchased
Assess customer feedback on the company's product or service Rate each feedback on a scale (e.g., 1 to 5) for satisfaction.
Data treatment: list out customer lists according to different needs, the following is the customer group after filtering from the call list:
Customer Groups After Filtering from the Call List:
Customers Interested and Want to Learn More:
Action for Later Calls: Follow up with a detailed email or information packet about the event, including the agenda, speakers, and benefits Schedule a callback to address any further questions or concerns they may have Prioritize nurturing their interest and providing additional information.
Customers Requested to Call Back Later:
Action for Later Calls: Respect their request and call back at the agreed-upon time Be prepared to provide additional details or address any concerns they might have Ensure a polite and professional demeanor during the callback, as they have shown a willingness to engage.
Action for Later Calls: Keep their contact information on record for future campaigns or events It's possible they might be interested in a similar event at a later time Send a polite thank-you email for their time and express openness to assist them in the future.
Action for Later Calls: Address their concerns immediately and professionally.
Listen to their complaints, empathize with their issues, and attempt to find a resolution If a resolution isn't possible during the call, offer to escalate their concern to a higher authority or customer support Follow up with a sincere apology and a clear plan for resolution Make sure to document their complaints for further analysis and improvement in your processes.
The telemarketing system is not consistent among the offices.: Dai-Ichi
Seminar "Hành trình Sức khỏe & Hạnh phúc"
Dai-Ichi Life aims to promote a healthy and active lifestyle through its seminar activities.* The seminar aims to educate customers about the significance of prioritizing their health.* Dai-Ichi Life empowers customers with up-to-date health knowledge and resources.* This enables customers to manage their personal and family health effectively.
Contribute to building a healthy and happy community: Dai-Ichi Life believes that a healthy and happy community will contribute to promoting the sustainable development of society.
Telemarketers utilize customer data from Dai-Ichi Life's own database or purchased lists to target potential clients The marketing campaign spans multiple major cities, with events strategically held at prominent convention centers in each location, including Ho Chi Minh City, Tuy Hoa, Buon Me Thuot, Vinh, and Nha Trang.
Appropriate to the number and requirements of attendees, including available equipment and sufficient space.
Event date: On the evening of Saturday and Sunday
Obstacle: Customer does not arrive on time or does not attend at all.
Looking to the future: This is a concept consistent with Dai-Ichi Life
Vietnam's goal of increasing insurance premium revenue In this concept, the seminar's activities will focus on introducing new insurance products, helping customers feel secure about the future of themselves and their families.
Dai-Ichi Life Vietnam is committed to educating customers about the significance of insurance in their lives Through seminars and other outreach initiatives, the company aims to empower individuals with the knowledge they need to make informed decisions about their financial well-being and protect themselves and their loved ones from unforeseen circumstances.
Live to the fullest: This is a concept consistent with Dai-Ichi Life Vietnam's goal of building sustainable relationships with customers In this concept, the seminar's activities will focus on bringing interesting and useful experiences to customers, helping customers have a long-term relationship with Dai-Ichi Life Vietnam.
Health and happiness: This is a theme suitable for health insurance and life insurance products of Dai-Ichi Life Vietnam In this theme, the seminar activities will focus on raising customers' awareness of health and happiness, helping customers live a fulfilling and meaningful life.
Financial solutions: This is a theme suitable for investment insurance products of Dai-Ichi Life Vietnam In this theme, the seminar's activities will focus on providing effective financial solutions for customers, helping customers feel secure about the financial future of themselves and their families.
Social responsibility: This is a theme suitable for Dai-Ichi Life Vietnam's CSR activities In this theme, the seminar's activities will focus on conveying the message of Dai-Ichi Life Vietnam's social responsibility, contributing to building a better society.
Introduction of speakers and topics o 9:00 - 9:45 AM
Keynote address: The importance of health and happiness in our lives
Speaker: Dr Nguyen Thi Mai, General Director of Dai-Ichi Life Vietnam o 9:45 - 10:30 AM
Topic 1: How to maintain a healthy weight.
Speaker: Dr Nguyen Van An, Nutritionist at Dai-Ichi Life Vietnam o 10:30 - 11:15 AM
Topic 2: Mental health and well-being
Speaker: Dr Tran Thi Hoa, Psychiatrist at Dai-Ichi Life Vietnam o 11:15 - 11:30 AM
Topic 3: Financial planning for health and happiness
Speaker: Mr Le Van Hung, Financial Advisor at Dai-Ichi Life Vietnam o 12:15 - 12:45 PM
Topic 4: Health protection and early detection
Speaker: Dr Nguyen Thi Mai, General Director of Dai-Ichi Life Vietnam o 2:15 - 3:00 PM
Topic 5: How to care for your elderly parents.
Speaker: Dr Tran Van An, Geriatrician at Dai-Ichi Life Vietnam o 3:00 - 3:30 PM
To schedule a call or consultation appointment, contact the customer and propose a convenient time Confirm the customer's availability and readiness to attend the meeting.
Insurance premium revenue is the most important indicator to evaluate the effectiveness of an insurance seminar This index represents the amount customers paid for insurance products after participating in the seminar.
Conversion rate is the ratio between the number of customers participating in the seminar and the number of customers purchasing insurance products This index shows the effectiveness of the seminar in convincing customers to buy the product. Policy retention rate is the ratio between the number of customers who continue to maintain an insurance contract after a period and the number of customers who have purchased insurance products This index shows the level of customer satisfaction with the company's insurance products and service quality.
The cost of organizing a seminar is the total cost necessary to organize a seminar This index needs to be compared with insurance premium revenue to evaluate cost efficiency.
Gamification can be a highly effective and engaging strategy for insurance seminars, and it is particularly relevant for Dai-Ichi Life's activities in Vietnam
Objective: To educate attendees about the importance of life insurance and the various life protection products offered by Dai-Ichi Life.
Character Creation: Each attendee is assigned a virtual character (an avatar) at the beginning of the seminar Attendees can personalize their avatars.
Game Structure: The seminar is divided into several thematic segments, each focusing on a specific life protection product (e.g., term life insurance, whole life insurance, critical illness coverage).
Challenges and Questions: After each segment, attendees participate in challenges or answer quiz questions related to the product discussed For example, attendees may need to solve a puzzle related to the benefits of term life insurance.
Points and Prizes: Attendees earn points for each correct answer or successful challenge completion Points can be used to redeem virtual prizes or unlock higher levels in the game.
Leaderboard: A live leaderboard is displayed on screen, showing the top-performing attendees This encourages healthy competition.
Attendees actively engage with the seminar content through gameplay.
They learn about different insurance products while having fun.
Gamification fosters healthy competition and teamwork.
Attendees are more likely to retain the information presented.
Data is collected on attendee performance for future targeting.
Mobile application
The Dai-Ichi Life mobile application is the official application of Dai-Ichi Life Vietnam, developed to provide customers with a convenient and safe experience when participating in life insurance The application can be installed on both iOS and Android operating systems.
5.4.1 Main features of Dai-Ichi Life application
• Query contract information: Customers can easily look up information about their insurance contract, including contract number, start date, end date, insurance fee, insurance benefits, etc
• Pay insurance premiums: Customers can pay their regular insurance premiums quickly and conveniently via the app.
• Look up invoices: Customers can look up their insurance premium payment invoices.
• Look up and use bonuses: Customers can look up and use bonuses accumulated from their insurance contracts.
• Submit a request for settlement of insurance benefits: Customers can submit a request for settlement of their insurance benefits via the application.
• Office search: Customers can search for the nearest Dai-Ichi Life Vietnam office.
• Product and service information: Customers can find out information about Dai-Ichi Life Vietnam's products and services.
• Company activity information: Customers can update information about Dai- Ichi Life Vietnam's activities.
• Healthy living activities: Customers can participate in healthy living activities organized by Dai-Ichi Life Vietnam.
Result
Total insurance premium revenue is over VND 22,000 billion, up 17% compared to 2021.
Profit after tax reached VND 2,400 billion, an increase of 20% compared to 2021.
Below is some more information from Google Trends about Dai-Ichi Life:
Related keywords: Keywords related to Dai-Ichi Life include "Dai-Ichi Life insurance", "Dai-Ichi Life insurance", "Dai-Ichi Life Vietnam",
"insurance products" Dai-Ichi Life insurance", "Dai-Ichi Life insurance review".
Search areas: Dai-Ichi Life is most searched in big cities such as Hanoi,
Ho Chi Minh City, Da Nang, Hai Phong.
Search time: Dai-Ichi Life was most searched in September 2023, followed by August 2023.
Increase to more than 500,000 customers in 2022.
In addition, Google Trends also provides information about search trends.Accordingly, the search trend for Dai-Ichi Life has been increasing in recent years.This shows that Dai-Ichi Life is receiving more attention.
Conclusion
In conclusion, Dai-Ichi Life has implemented a comprehensive direct marketing strategy in Vietnam, utilizing various channels, including Email Marketing, Telemarketing, Seminars, and a Mobile Application This multi-faceted approach allows the company to engage with customers and prospects through diverse means, each tailored to specific communication preferences and marketing objectives.
Direct marketing is highly effective in Vietnam due to its multi-channel approach, aligning with the tech-savvy Vietnamese audience Email marketing's personalized touch is well-received, while telemarketing builds personal connections, aided by the customer journey approach that ensures relevant information delivery Mobile applications provide convenient self-service options, empowering customers However, ongoing enhancements in content quality, frequency, and user experience are crucial to meet evolving customer needs and market demands.
Overall, Dai-Ichi Life's direct marketing efforts in Vietnam are promising, with a strong foundation for continued growth and engagement with customers in this dynamic market.