leveraging a holistic marketing strategy to drive business ... · leveraging a holistic marketing...
TRANSCRIPT
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Stronger Together: Leveraging a Holistic Marketing Strategy to Drive Business Results
John W. Chandler, Jr. Senior Vice President & Chief Marketing Officer October 30, 2014
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We help people secure their future and protect the ones they love.
Who is MassMutual?
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MassMutual’s Value Proposition
Direct link
between company and policyowners
163 years of strength
and stability
Decisions aren’t dictated
by analysts or shareholders
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2006: MassMutual Internal Brand Environment
Underdeveloped Awareness & Reputation
“DBA” Agency System
Lagging Demographic Changes in Society
“Marketing Doesn’t Drive Sales”
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External Environment: The New Consumer Reality
Financially Stressed
Distrust of Financial Services
Increasingly Underinsured
Information Revolution
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Marketing Strategy
Initial Results
Board Buy-In
Accelerated Success
The Start of our Brand Journey
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Drive brand visibility and
reputation
Drive innovative customer
acquisition
Deliver brand-defining customer experience
Increase sales force engagement &
productivity
Our Mission and Strategy
Inspire a passionate & engaged workforce
Continuously improve marketing
effectiveness
We fuel growth by inspiring passion for our brand.
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Team Integration
Life Company Marketing
Brand Marketing Continuous Improvement
U.S. Insurance Group Marketing
Customer Experience Community Responsibility
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Creative Campaign: “Make Good Decisions”
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Targeted Market Development
Multicultural
Special Care
Business Owners
Led the development of the Chartered Special Needs Consultant (ChSNC) designation
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Customer Analytics Engine
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Marketing Strategy
Initial Results
Board Buy-In
Accelerated Success
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Initial Results
Advertising copy scores 120-140% higher than competitors
Higher awareness per $ spent
Grew multicultural business from 12% to 20%
6,400 online leads and opportunities
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Marketing Strategy
Initial Results
Board Buy-In
Accelerated Success
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Board Buy-In
$100 Million
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Brand Ambassadors
98% of agencies participating
DBAs
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Digital Brand Ambassadors
Social media pages and websites for agents and agencies
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“Matters Most” Campaign: A Home Run
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Social Media Extends “Matters Most” Sentiment
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I couldn’t imagine spending the rest of my life with anyone else by
my side! #loveisagift
Savoring a tender moment with my boys,
Payton & Maxwell. #loveisagift
My cousin and I, but we’re more than just
cousins. She’s my little sister and if I could I
would give her the world. #loveisagift
Bad days made better by a single kiss! #loveisagift
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Ad Investment Brand Awareness
Medi
a Spe
nd Awareness
Campaign Efficiency Outperforms Competitors
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0
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40
60
80
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Jun-10 Dec-10 Jun-11 Dec-11 Jun-12 Dec-12 Jun-13 Dec-13 Jun-14
Google Searches for “MassMutual”
Brand Search Activity Growing with Campaign
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Marketing Strategy
Initial Results
Board Buy-In
Accelerated Success
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2013: Marketing’s Direct Contribution to Sales
$205 Million
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2013: Marketing’s Direct Contribution to Sales
$400 Million
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Driving Reputation and Recognition
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Accelerating Business Success
$202 $237 $241
2009 2010 2011 2012 2013
14% ($ Millions)
$347 $303
Weighted Whole Life Sales
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Total Life Market Ranking
#11 2006
#7 1H 2014
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What’s Next?
Launch new MassMutual.com
website
Continue growing field brand alignment
Take brand campaign to the next level
Increase direct business growth through leads
and other opportunities
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