Introduction of the Company

About Transamerica

Transamerica, a prominent provider of life insurance, retirement, and investment solutions, has been serving millions of customers across the United States for over a century. With a mission to help people live their best lives, Transamerica offers a broad range of products. Transamerica is part of the international Aegon group.

Background of the Company

In 2016, Transamerica rebranded to introduce the Wealth+Health concept, highlighting the link between financial stability and physical well-being. This new brand identity aimed to bring financial conversations in line with health considerations, acknowledging the increased lifespan of modern individuals. To effectively convey this new approach, Transamerica needed to educate and collaborate with thousands of financial advisors and insurance brokers, operating within a B2B2C model.

Challenge

Launching a cost-effective new brand campaign to a B2B audience, and ensuring it reached end customers through financial advisors, posed a significant challenge. The goal was to influence and nurture financial professionals through brand storytelling, highlighting the value of a holistic advisory approach. The Transamerica social media team aimed to incorporate lead generation into their content and performance plan, focusing on brand awareness and relationship building with both B2B and B2C audiences.

Solution

In 2019, the team launched the “Write Their Next Chapter” story telling campaign, taking the following innovative approaches:

1. Targeting on Facebook: Instead of the typical B2B platform LinkedIn, we targeted financial advisors and insurance agents on Facebook. This decision was based on the observation that advisors were more active on Facebook as their own customers and community preferred that platform for daily use themselves. This approach facilitated the sharing of Wealth+Health content by advisors to the end customer, extending the brand’s reach.

2. Customer Journey Planning: Our team created a comprehensive customer journey based on the full brand story experience we wanted each individual to engage with. Financial professionals were served content on social media and lead to the company website to convert by submitting their details. Those who didn’t convert on the website were retargeted on social media with further educational content and a partially pre-filled lead generation form to lower the burden for connecting with the brand.

This strategic, data-driven approach was executed over a three-month campaign across Facebook, Instagram, and LinkedIn.

Impact

The campaign’s performance was measured against six key performance indicators (KPIs) . These KPIs were compared to our 2018 benchmarks. The final results showed significant improvements across all metrics, ranging from 13% to over 98%. The most notable result was in the cost per lead metric, which saw a dramatic reduction from an average of $490 on LinkedIn to just $10 on Facebook.

Conclusion

Transamerica’s innovative social media performance campaign, guided by a strategic B2B2C social media approach, significantly enhanced lead generation and brand awareness. By leveraging unusual platforms like Facebook for B2B targeting and meticulously planning the customer journey, the campaign achieved remarkable success, setting a new standard for performance marketing in the financial services industry.

Resources:

On Wealth + Health: https://www.transamerica.com/knowledge-place/staying-healthy-may-save-you-big-bucks

On the Social media Campaign: https://www.youtube.com/watch?v=DtkfCwNQ-5Q&ab_channel=NikiVH