HDFC Life announced a tie-up with Google to enhance its digital presence by leveraging machine learning.
HDFC Life, along with its agency partner, iProspect, has leveraged machine learning built into Google Ads to target customers with relevant ads through fewer Search Marketing campaigns and targeting groups.
Machine learning based automation in Google Ads has enabled HDFC Life to significantly reduce multiple manually optimized targeting groups to fewer groups, leading to improved performance.
This approach has delivered a substantial increment of 84 percent in leads and a 50 percent increase in lead quality, while simultaneously reducing cost by 46 percent.
“This joint engagement with Google and iProspect has yielded superior results in terms of increase in ROI and decrease the lead costs,” Vishal Subharwal, EVP e-commerce and Digital Marketing, HDFC Life, said.
“Working with HDFC Life Insurance and their agency, our teams were able to simplify the Search Marketing campaigns using automation. Thanks to automation the volume of target groups reduced by 500X and the teams are focusing their time on creative experimentation,” Vikas Agnihotri, country director, Google India, said.