Prolonged lockdowns during the 2020-21 pandemic accelerated the adoption of digital banking. Consumers quickly switched to digital payments through mobile apps, which they were reluctant to use before.

For instance, in Q3 of 2020, the number of Chase consumers using digital solutions provided by the bank increased 6% YoY. On the other hand, the number of users using their mobile app increased by 10% YoY. (The number of digitally active customers was 55 million, and those actively using mobile apps was 40 million.)

The last two year have, without a doubt, driven the focus of banks on digitization and user-centricity. COVID-19 has set the bar for digital banking trends extremely high. A brand-new generation of customers is emerging for the post-COVID era. According to a McKinsey report, 75% of customers have tried different brands since the pandemic started. Out of these, 60% are expected to adopt new brands and stores into their post-pandemic lives and routines.

Today, consumers seek empathy, loyalty, and emotional connection from brands. The majority of consumers agree that it is high time for businesses to reconsider how they operate and contribute to society. Hence, banks will now have to widen their perceptions and enrich the digital experience with an emotional connection. Here are the ten digital banking trends that we may witness in 2022.

1. Expanding digitization across all service verticals

Traditional banks offer a wide range of financial services but are woefully unequipped for digitization. The lockdown has demonstrated an urgent need for digitization in the banking and finance industry. Even though most banks across the world were gradually adopting digital processes, the pandemic exposed their unpreparedness and inefficiency to serve customers in the time of need.

For instance, consumers had to visit a bank branch to get KYC done or apply for a loan while risking their health in the process. The banks, unfortunately, did not adopt or effectively utilize the technology to guarantee remote service to customers even though it was very feasible.

This situation gave an opportunity to fintech startups to step in and fill in the gap. Banks must take a lesson from this. They must thrive to deliver a better experience to consumers by expanding their digital offerings.

2. Implementing a customer-centric culture

Digital-first companies can quickly adapt to changing customer preferences. They can remove obsolete practices, upgrade to newer technologies, and modify products according to clients’ needs. Today, the business culture has become a crucial component of success. Even a well-thought digital transformation can fail miserably if a customer-centric mindset is not there at the company level. For instance, 79% of US customers are interested in brands that understand them and care about them, and 89% of the customers want to engage with only those brands that go above and beyond.

It means that creating a digital journey with the customer at the center is the need of the hour. Fortunately, it is easy to implement in digital-first companies. All that is needed is some critical planning. The whole company should be engaged in seeking and executing ideas that solve the problems of the customers. Even though it can be a little challenging for older banks to adapt to these changes overnight, when implementing the digital transformation, customer-centricity should be a priority.

3. Addressing the gaps

The banking system, be it traditional or modern, can leave numerous gaps between what the customer expects and what the brand can provide. If the difference is more, there is a high chance that the customer will drop the brand altogether. A couple of decades ago, when only a handful of banks operated, it was difficult for customers to switch banks. Presently, digitization has made it easy for customers to switch banks and opt for a brand that would suit their financial needs better. For financial institutions to succeed in 2022, they need to address these gaps.

The gap between customer expectations and services of financial institutions exists at various levels, such as:

  • The culture gap exists when the top management is not customer-focused. This situation prevents employees from giving customers the best possible experience.
  • The feedback gap happens when the organization does not collect feedback or fails to incorporate it into the business processes.
  • The design gap is when products and services are of low quality. Bridging the design gap requires careful customer-centric planning. The execution gap is not being able to provide a satisfactory UX.
  • There is also the value gap where the design of the products and services do not meet the customers’ expectations.
  • A gap of overpromising creates even more disappointment.
  • And finally, there is the emotional gap, where the customer feels that the brand does not care about their concerns.

When creating digital products, it is becoming immensely crucial to address these gaps. Some banks know this. That is why many traditional banks are open to collaborate with fintech startups to attract the newer generation of customers while still providing legacy services to the digitally challenged population.

4. Building an emotional connection

Purpose and empathy are the two main currencies of a brand currently.

The second-order effect that we see now is people are suffering from pandemic fatigue because of working from home in isolation. With all processes becoming digital, people are feeling even more isolated. Therefore, building an emotional connection with the customer is becoming increasingly essential.

However, the banking industry often keeps such emotional connections at bay to preserve their notability. In 2021, fintech companies are building personalized experiences for customers based on these emotional connections. Now, it’s not just about using “first name” in their fintech marketing strategies, but keeping the entire digital experience personalized.

When it comes to digital experiences, banking apps are still nowhere close to the seamless experiences that digital platforms, such as Facebook or YouTube, provide. Also, they address the needs of the users in the best way possible. Banking apps can take inspiration from these platforms to build an emotional connection with the users. And this is not unknown anymore. Services like N26 and Mint are examples of apps that take personalization to the next level; Abe AI integrated banking services with Google Home provides a more convenient banking experience.

5. Measuring modern metrics

With the customer experience as the primary focus, most financial institutions will shift to experience-driven metrics to evaluate their performance. The key performance indicators of digital banking products will assess how ably companies are engaging with the customer. The metrics will not just look at the operational efficiency but also how comfortable the customers are using them. The new metrics will consider user feedback which includes user comments, ratings, and recommendations.

Financial institutions can switch to these new metrics without many new investments. The metrics that FIs can evaluate include app store ratings, net promoter scores, customer lifetime value, reasons why most customers contact support, app retention and switch rates, active customer volume, etc.

6. Automation and the shift to EQ

Emotional intelligence has become even more dominant after the pandemic. While banks and financial institutions have primarily marketed their IQ, EQ is slowly becoming a salient part of the equation. Newer technologies, such as artificial intelligence, are enabling fintech institutions to be less robotic. For example, BELLA is a banking platform that shows how brands can integrate EQ into banking. It provides a conversational banking platform with a massive focus on the community.

Bella - conversational banking platform

7. Developing a consistent ecosystem

An issue with modern digital banking systems is the lack of consistency. Legacy banks experienced digitization in phases. It has led to a fragmentation of user experience. Visual elements across apps and websites look and behave differently. The internet banking website, the apps, the ATMs: each have their distinct interface. For example, the State Bank of India has multiple apps for investment, payments, card management. They even have an app that unifies all these features. Each of them has a different UI and design system. This UX is also completely different from the user experience that the website and the ATMs provide.

Customers expect all channels to provide a consistent experience when using digital banking. A unified experience will help establish a smooth transition as the customer switches between different banking platforms.

8. Providing contextual solutions

With tools like big data analytics, banks can provide a more contextual experience to their customers. AI can be used to monitor spending activity and provide a recommendation. A great example of this is Trim. Apps like forces users to change bad spending habits. Apps that deliver contextual experiences can inform users to take action when it is needed. They can monitor financial health and predict how the user’s current activities will affect their future financial health.

9. Increased collaborations with fintech

Banks are increasingly partnering with fintech companies to integrate digital processes in their businesses. Traditional banks are often too big to be digitized overnight. Phased digitization has also caused fragmentation. Hence, banks can partner with fintech companies and startups to bring innovation and convenience to their customers. The partnerships can be for various reasons. For instance, Commerzbank partnered with IDnow to help verify customers over video calls. FidorBank has partnered with CurrencyCloud for its e-Payment system. Similarly, Bankia collaborated with Euro bits to provide invoicing services for SMEs.

10. Sustainable and inclusive banking

Today, customers expect more from their favorite brands. For instance, people want to be associated with institutions that care for society and environment. And people do not hesitate to contribute to a cause. Banks can help their customers create a positive impact on the planet. It will help them stand out in the competitive market.

For example, the green fintech initiative: a collaboration between fintech and climate tech, makes banking sustainable. Banking solutions like Tomorrow and Bunq promise to make digital banking more sustainable. Platforms like Beyonic provides digital payment solutions to SMEs in Africa.

Final thoughts

The pandemic reminded every business of its purpose and what it has to offer to its clients. Customers expect banks and financial institutions to have their back, understand them, and help them out actively. The shift to digital that started way before the pandemic has suddenly accelerated. This situation has also provided financial brands with an opportunity to rethink their purpose, modify their mission statement and make the digital banking experience more personal, empathetic, and understanding.

We help brands connect with their customers in a more efficient way. Explore our sales efficiency solutions for banking and financial services.

Further reading:

Key Performance Indicators or KPIs provide you with an overview of how well your organization is performing. Selecting the appropriate KPI is essential in evaluating the success of your agency. They help you understand the current business strategy and what you can do to reach your goals. Although KPIs vary from business to business, insurance agencies must keep a tab on some specific metrics to monitor their business growth.

Often, there are hundreds of metrics that one can keep an eye on. Optimizing each one will help your business in a certain way. But when it comes to agencies, dedicated tools such as insurance-specific CRMs allow managers to track these KPIs and improve operational efficiency. Here are some crucial insurance agency KPIs (key performance indicators) organized by category to help you understand your business better.


Insurance Agency KPIs

Rates are a good indicator of your lead quality. Over time, the volume of leads coming in will vary. However, if you look at the success rates, you can identify the issues with your sales pipeline. Rates are insurance agency KPIs that can help you find and remove bottlenecks. These include the following:

1. Contact Rate

Contact Rate is simply the number of leads you can contact after you have reached out to them once. If you can get in touch with your client again after the first conversation, it indicates that the lead is interested. This indication will allow you to proceed further.

2. Quote Rate

Quote rate can help you understand the staff performance. It measures how many quotes an agent has provided compared to the leads they have contacted. Break down the Quote rate by producers (agents) to better understand individual performances.

3. Bind Rate

The Bind Rate is a useful KPI as it allows you to see which agents are closing deals. It is the percentage of quotes converted into legally binding policies.

Cost-related insurance agency KPIs allow you to measure the costs associated with each sales pipeline stage. It can help you optimize pipeline expenditure. Here are some of the expenses that you need to keep an eye on at a regular interval.

4. Cost per bind

Cost per bind is also known as cost per acquisition. Agencies often overlook this particular KPI but it is extremely important to know your expenses. This KPI tells you how much it costs your institution to bind a policy and acquire a customer. You must measure this KPI every month.

5. Cost per quote

Cost per the quote is another crucial KPI that agents often overlook. This KPI gives you an idea of what costs you incur when you put a quote in front of your customer. If you see a low cost per quote, but the cost per bind is high, then something is causing customers to drop after they get the estimate. These are bottlenecks that you will have to identify and address. One can look at this KPI monthly. You can also break this down by week or by day to get a more granular view.

6. Cost per premium by lead source

This KPI allows an agent to understand which marketing source has the lowest cost per acquisition. This metric breaks down the monthly expenses to drive revenue in premium by the lead source.

7. Cost per bind by lead vertical

This KPI allows you to understand which domains your agency excels in more than others. This metric helps you to understand the cost to bind a policy based on verticals. Different verticals include automobiles, home, life, health, P&C, and so on. Your team may excel in binding auto insurance, but not so much on home insurance. You may also have a KPI set up for each vertical, such as life insurance KPIs. This KPI allows you to see bottlenecks in the systems and what you can do to improve performance in other domains. Understanding the strength of your team can also help you market your agency and the policies it sells accordingly.

8. Cost per item by lead vertical

Like the previous KPI, this helps you understand which vertical has the most items to be written. You can track this KPI monthly or weekly, as required.

Time-based insurance agency KPIs help measure how effectively your agency is utilizing its time. It correlates with efficiency as well as customer satisfaction indicators.

9. Average time to settle a claim by policy type

This KPI measures how much time, on average, it takes to settle insurance claims. The KPI breaks it down by policy type because each type has its characteristics. A simple example could be medical claims versus auto claims. In general, medical claims take more time. It is also one of the key performance indicators for health insurance companies.

10. Producers talk time and dials

This metric is crucial to understand how effective your producer activity is and how well they are doing with prospects. A producer who has a low talk time cannot engage prospects. You may consider training and skill development for such agents.

insurance sales call scripts ebook

11. Underwriting speed

Underwriting speed or underwriting cycle time is a KPI that measures how many business days it takes for the underwriter to process an application. It measures the number of days elapsed between an application submitted to the underwriter and a formal decision.

The factors that affect underwriting speed include inefficient customer information collection as well as underproductive staff. These factors increase the total time needed to underwrite a policy. This KPI is also a notable metric for understanding customer satisfaction levels. The longer the company takes for underwriting, the unhappier the customer will be.

Productivity KPIs will require you to track employee activities. You can use these metrics for insurance agent performance analytics. This information will give an idea about how an individual or a team is performing. Here are some of the primary KPIs in this category.

12. Quotas vs. Production

This metric measures how effective the sales agents are at meeting targets. There are typically two types of insurance sellers: one group works solely for your organization while the other group only sells your products. They are called captive agents. They often sell policies for many companies, and these third party-sellers provide the clients with the best rates. The Quotas vs. Production KPI allows you to set goals for your team in a way that challenges them to do better but does not discourage them from achieving a decent quota to production ratio.

13. New policies per agent

This KPI measures the performance of the organization at the individual level. The “New Policies per Agent” KPI allows managers to benchmark producers against each other and even compare them to external competitors. The idea is to have the most efficient sales team. One can track this KPI monthly or weekly and can further use this to provide targeted training to employees.

14. Underwriting expense ratio

This KPI measures the total company expenses against the total premium acquired over a certain period. The expenses include the cost of selling, underwriting, onboarding, and providing customer service. The higher value of this KPI indicates a lack of productivity or inefficient processes. Generally, manual procedures, unproductive agents, and outdated sales strategies cause a high underwriting expense ratio. This KPI is specifically beneficial for P&C insurance.

15. Loss ratio

The loss ratio is an industry-standard metric that measures the profitability of a company. It is a publicly reported metric when the company is traded publicly. Therefore, poor performance impacts the market value of the brand. High values happen when there is a poor estimation of claims, inefficient underwriting processes, or extended claim cycle times. Natural catastrophes such as earthquakes or hurricanes can also increase the loss ratio.

Tracking your insurance agency KPIs

Once you have decided your insurance company performance indicators, you will have to set them up for tracking. Most large organizations make use of complex software platforms to do so. However, one of the best ways to track KPIs for your insurance agency is to invest in a CRM solution. A CRM tool does a lot more than providing you with metrics. It also optimizes data collection as well as other operations within the business. For instance, it can automate workflows for quotes, producers, opportunities, and more.

Plus, you can set goals for individual agents or entire teams. You can customize reporting and analytics and see the most crucial KPIs right from your dashboard. CRMs can also help improve KPIs with timely automated communication. For instance, they can remind you to phone a client or send them a personalized email with the relevant information.

Also, watch the webinar on – how to sell insurance policies faster:

Final thoughts

The above insurance agency KPIs provide you valuable insights into your company’s performance and what you can do to improve it. However, tracking so many metrics can be challenging. Furthermore, understanding what exactly you need to do to improve those metrics can also be difficult. That is why an insurance-focused CRM is a great tool for keeping tabs on your metrics and keeping them healthy. It allows you to incorporate automation in numerous crucial processes and reduce costs. It also improves productivity levels and increases retention rates.

LeadSquared has helped Pepper Insurance manage its partnerships with carriers & agents and their internal processes across the sales cycle. Take a free trial and explore how it can help grow your book of business.


Which metrics are indicators of an insurance company’s ability to grow business?

Insurance companies and agencies must track cost, time, and productivity-related metrics to ensure their business growth. Some of the important ones are expense ratio, renewal or retention rate, quota vs. production, and average policy size. Read on to find out more.

What are the important P&C insurance metrics?

The top P&C insurance metrics that carriers and agencies track are: Average total cost of case, legal expense per case, cycle time, loss per litigated case, and loss ratio.

What life insurance KPIs should I be measuring?

The KPIs that help you track the performance of life insurance agents and their products are:
1. Policy lapse ratio
2. Average customer satisfaction
3. Sales/new business
4. Quota vs. production
5. Average policy size
6. Revenue per policyholder
7. Average cost per claim

With customers interacting with companies through more and more channels, keeping track of everything and delivering the best experience has become complicated.

That’s where customer journey mapping comes in. It helps brands understand the customer journey, stay on top of their expectations and optimize the customer experience.

Read on to find out what customer journey mapping is, why it is so important, and how to create a customer journey map.

customer journey mapping guide. how to create a customer journey map

What is Customer Journey Mapping?

Customer journey mapping is a visual representation of how customers interact with your brand. It tells you where and how customers communicate with your business. With a clear understanding of how a customer journey looks like, and by putting yourself in your customers’ shoes, you can define a strategy to improve the customer experience.

Believe it or not, customers nowadays use up to 10 channels to communicate with businesses. It is no longer about putting out a product and having someone buy it. Things have become much more complex. That is why a visual representation of customer interactions across all touchpoints (offline and online) helps connect the dots and deliver a consistent experience.

A visual representation of how customers interact with your brand

Today, brands use email marketing, social media, live chat, customer satisfaction surveys, and more to interact with customers.

Every interaction a customer has with your brand, regardless of the channel, is called a customer touchpoint. Ideally, you should not only know them but be able to “read” these points with all the others.

The solution for keeping track of these touchpoints and transforming them into valuable information is called customer journey mapping.

simplified customer journey map

Types of Customer Journey Maps

Always choose your customer journey map type based on your needs and possibly even marketing attribution. We’ll get into more detail on that in the subsequent section. For now, here are the four types of customer journey maps you can choose from:

1. Current State

This type of customer journey mapping is ideal for streamlining the customer journey. It shows you the actions taken by your customers, along with their thoughts and emotions, while going through the customer journey.

2. Day in the Life

As the name suggests, this customer journey map gives you an overview of a day in your customer’s life. It also shows you the actions, as well as the thoughts and emotions experienced by your customers. However, it reveals this information not only for your brand but for everything else as well.

You can use this map to identify the needs that you can address with your products or services.

3. Future State

This type of customer journey map works best for setting future goals for your brand. You can use it to identify where your customer experience is now and where you visualize taking it in the future.

4. Service Blueprint

Service Blueprint maps illustrate how you intend to improve the customer journey. It includes pain points, the steps required to achieve the intended goals, and who is responsible for achieving those goals.

It is ideal for streamlining the customer journey as it shows you the actions taken by your customers, their thoughts, and emotions throughout their journey with your brand.

Why is Customer Journey Mapping Important?

The key to a better and bigger business is to understand the customer. Once you know them, you can optimize and personalize their journey and experience. The result? Better customer retention and more new customers.

Customer journey mapping will help you do just that: understand your customer.

By visualizing how a customer interacts with your business, you understand their first-hand experience. You can clearly see their perspective and motivation. In doing so, you’ll also identify pain points, weak spots, or areas where the customer journey can benefit from improvement and tailor your call to action accordingly.

Customer journey mapping is essential to get the customer’s perspective. The insights gained from this exercise can help you better organize and optimize your processes, resulting in better business.

This strategic approach can help you:

  • understand customer expectations
  • identify pain points
  • personalize your offers
  • customize multi-channel marketing strategies
  • streamline the customer experience
  • retain more customers
  • acquire more customers
  • surpass your competitors

Customer Journey Mapping Benefits

Customer journey mapping has a multitude of benefits. You can use it to set up and improve all the steps of a customer’s journey starting from the very beginning.

Because customer journey mapping is all about understanding the customer, it can help streamline everything from the customer onboarding process to the check-out process.

1. Improve Your Customer Service

No matter how good your customer service is, it can always be better. And with customers now expecting superior customer support, you cannot afford not delivering it. Customer support is one of the main factors that determine whether a customer will return or not.

Customer journey mapping is a great way to identify the gaps in your customer service. Use it to map out each touchpoint a customer goes through. Then, take the journey yourself.

It will help you determine:

  • what needs to change
  • how to implement the required changes
  • who will do it?

2. Increase Customer Retention Rates

Better customer service alone can help improve retention rates. However, customer journey mapping does even more.

You can use it to understand the customer’s point of view. And with this info, you can optimize their journey and personalize it.

First, it helps you identify common issues that can cause your customers to leave. This way, you can implement the necessary changes to avoid the same and persuade customers to stay.

Second, with customer journey mapping, you better understand the thoughts and emotions of your customers. It can translate into better marketing strategies focused on personalized experiences that ensure increased retention rates.

3. Attract More New Customers

Following the same logic, you can also acquire new customers.

Once you know what customers want and their expectations, you technically have everything you need for efficient marketing strategies. You can tailor your marketing efforts to their needs, desires, and emotions and attract a larger audience for your products/services.

How to Create a Customer Journey Map?

The customer journey map will tell you how your customers go through each process, what kind of needs drive them to you and what steps they need to meet that need.

This visual representation of their journey is a valuable resource for your entire organization. Any startup can create a customer journey map by following the steps described below or in this friendly workshop.

1. Start with Clear Objectives and Goals

First, start by understanding what it is you want to achieve by creating a customer journey map. Ask yourself what specific stage of the customer journey you want to tackle. Or what is your main goal for the information you will get.

Once you have a clear direction, dive into creating the map.

List all the touchpoints a customer will pass through. It could be your website, your social media pages, their interactions with customer support.

Next, create different buyer personas. A buyer persona is an imaginary customer who encompasses the main characteristics of your typical customer. It will help you understand each step of the customer journey from their perspective.

Then take these buyer personas through every touchpoint.

For example, if the buyer is in their 30s, they’ll likely learn about you on social media. Then they will use the mobile version of your website to find out more. Finally, they will make a purchase from their laptop.

Your goal should be to identify:

  • what attracts people to your brand
  • what specific needs your product can meet
  • where customers interact the most with your brand
  • how much time they spend interacting with your brand
  • what drives them to make a purchase
  • what prompts them to refuse a purchase
  • How valuable your customer support service is and how you can improve it
how to create a customer journey map

2. Create a Specific Target

While having multiple buyer personas can be helpful, avoid focusing on too many.

Pick a few primary target personas for your customer journey map. This way, you won’t get lost in too many details, and you can focus on your goals. It is essential to focus on a single perspective to understand the client’s thoughts and emotions and their specific needs.

Plus, once you master customer journey mapping, you can always use it for more customer personas.

3. Identify all the Touchpoints

Next, you need to list all the touchpoints that the customer has to go through.

Touchpoints can include:

Go into as much detail as possible. Don’t just list the website, for example, but list all the ways a customer can interact with you through one channel. It can be via a contact form, a live chat, a chatbot, and more.

Also, map out all the actions that a customer will take during their journey. For example, a Google search or a click on an ad on social media.

It will help you understand what steps your customers are taking. Then, you can identify what works and what does not at individual steps.

The number of steps is also important. You might find that while you offer many touchpoints, your customers only use a few.

This may indicate that something along the way is causing them to bail. Or it could mean that they can easily find what they are looking for and don’t need much else. Your conversion rates will give you the answer.

Likewise, you might find that customers go through more touchpoints than they need. In this case, try to identify how you can streamline their journey.

4. Understand What Triggers Customer Actions

Perhaps the most critical part of the customer journey map is understanding the “why”.

It is not enough to list the touchpoints. You will also need to understand your client’s perspective on each of them. What motivates a customer to go through each touchpoint is as important as the emotions they feel.

Ask yourself what thoughts and emotions drive the customer at each touchpoint. Each step of the buyer’s journey is different, and so are the emotions.

Then, ask yourself:

  • Do your touchpoints match the customer’s needs and motivation?
  • What about their emotions?
  • Is the customer well-tended to at each touchpoint?
  • Is the information provided to them is sufficient?
  • What about the support?
  • Does something trigger negative emotions?

Just as a problem brought them to your product/service, a problem can drive customers away.

For example, they may visit your website because they need a new backpack. Their motivation is clear. They want to buy a new one.

However, by browsing your pages, they don’t find all the information they need. Now they are frustrated. They want to contact customer support, so they’re figuring out how to do it. If they cannot find this information or reach your support and get through, they will become frustrated and might go to the competition.

Creating a clear roadmap of each point the customer goes through and considering each one’s emotional triggers will help avoid common mistakes and optimize the customer journey.

5. Define Your Future Needs

Your customer journey map should reveal where you need to implement the changes required.

In this case, you also need to define the steps and processes necessary to improve your customer’s journey.

So, determine what resources you already have and what resources you will need.

It could be just a few simple steps to a better customer experience. For example, highlighting certain information on your website or making it more obvious to potential customers how to purchase.

In other cases, you will need additional resources. For example, if your customer journey map reveals that many customers decide not to buy because of poor customer support. In this case, you may need to invest in more customer service training or hire more staff. However, add more support options like a chatbot on your website.

Finally, your customer service card will also help you influence decision-makers, as you can show how implementing the required changes can improve the customer experience.

  • Lead leakage worries due to manual lead capture on excel sheets
  • Lack of ready-to-use email templates, resulting in a faulty nurturing process
  • No insight on the performance of team members or lead sources
  • Insufficient data to take corrective measures like optimizing marketing campaigns
  • Cumbersome, delayed & inaccurate MIS Reports
  • Bottlenecks in forecasting realistic admission numbers
  • Little or no scope of scaling without sales & marketing automation


Rakesh Kumar

Rakesh Kumar
Head of Marketing at IMT-CDL, Ghaziabad

​Rakesh is a versatile professional with 16 years of high growth experience in Marketing Communication, Demand Generation, Product Management & Customer Success, in diverse sectors, including Education, Software Solutions, E-Commerce & FMCG.

With every passing day, the world of marketing is getting more and more competitive. Brands are in a race to establish their importance in front of the target audience. In such a situation, video-based marketing is a powerful tool for brands to convey their message. With videos, brands can personalize the marketing journey and develop a one-on-one connection with their potential customers.

However, you need to realize that the scope of video marketing is diverse (look at these breathtaking video marketing statistics from invideo). Unless brands define a clear strategy, they may get lost in the humdrum of the digital world. To avoid such a situation, here are ten time-tested tips on setting up a video marketing strategy that holds good in the competitive digital world of 2022.

1. Focus on Your Customer Persona

Today, on-demand content has overpowered television, and 6 out of 10 people prefer watching videos online instead of on the television. The reason for this change is that videos give the viewer a more personalized viewing experience. As a brand, you can leverage this trend by focusing on your buyer persona.

Start your journey by envisioning who your ideal customer is. Factors like their age, gender, ethnicity, lifestyle, etc., will help you chalk out their persona. Once you have a clear picture of who your ideal buyer is, it will be easy for you to decide the product’s tone. You can then script, film, edit, and upload the video. However, all this time, keep the expectations of your customers in mind.

2. Convey Your Brand Image

Research reveals that 64% of consumers purchase a product after watching a video of the brand. Thus, by maintaining consistency across all videos you post, you are likely to win the trust of your target group. As a brand, ensure that you convey the right message from your videos.

Try to incorporate your brand colors, logo, or tagline in your promotional videos as they strengthen the brand image. If a video introduces a change in branding (change of logo or festive branding), make sure that it is cross-promoted across multiple platforms. That way, your followers will be in tune with all your branding updates.

3. Come Up with a Video Content Schedule

Consistency is the key to digital marketing success. Therefore, keep a schedule for posting videos. Remember, creating a video takes more time and effort than writing a blog or editing an image. So, plan your schedule keeping resource availability and other such considerations in mind.

Once you have a basic schedule, make sure you stick to it. For simplicity, have a realistic target and make sure you are ahead of your timeline by one or two videos. That way, even if some urgent work or some unforeseen situation comes up, your followers will not miss out on the video content. Regular posting of video content will allow you to establish brand familiarity among your target audience.

b2b sales and marketing ebook

4. Plan Your Budget

While marketing initiatives involving video gives smaller brands a fairground to compete with the well-established ones, the fact remains that merely creating a video does not guarantee success. Videos on LinkedIn get 24 times more comments and 7 times more reactions as compared to textual posts. However, a look at the videos on the professional networking site will reveal that not all of them were shot or edited with high-end professional tools.

As a brand, focus on your marketing goals and audience preference and then plan your budget. For example, a predominantly solvent middle-class audience would enjoy a brand video that has an industry influencer. On the other hand, a brand whose target audience consists of teenagers and students would do better with popping fun colors.

5. Diversify Your Videos

Today, one-third of all online activities revolve around watching video content. This trend has resulted in several promotional videos, and brands need to diversify their video offerings. Recorded webinar videos and product demonstrations are some of the most popular forms of videos in recent times.

You can experiment with how-to videos, behind-the-scenes videos, interview videos, and customer testimonial videos as well. As of 2021, the popularity of educational videos and those demonstrating tips and tricks are ever-increasing. Therefore, consider these in your video marketing strategy.

6. Chalk Out the Tasks

Once you have the basic strategy in place, break up the process of video-based marketing into several small tasks. Writing scripts, arranging the lights, video recording, editing, and uploading the video are some of the activities to consider. List down all the tasks and set a deadline for each of them.

If you have a team to assist you in your video-making journey, ensure that you designate tasks to individuals at this stage. Depending on the scale of the project, you may have several sub-tasks. That is why it is a good practice to have a POC for each work. That way, there is ownership of responsibilities, and the video gets created much more efficiently.

7. Plan the Filming & Video Publication

Mobile video consumption is increasing almost 100% every year. That is why you can expect a good ROI on your video preparation. Start by identifying the type of video content that you will create. Then propose topics and outlines for the same. Have a detailed plan on the shooting and editing itinerary to ensure that you do not deter from the goal.

Plan the publication medium before you start recording the video. For example, recording and editing the videos on platforms such as YouTube and Facebook give the videos an air of authenticity. On the other hand, editing the videos with a professional editing tool gives it higher perfection and makes you come off as professional.

Also, look at the viral video marketing ideas:

8. Optimize Your Video

Another essential step in ensuring that your content gets visibility is to optimize the video for search engines. Use any keyword application to identify keywords that are relevant to your video content. Use such keywords in your video title and description for maximum visibility.

Further, restrict your video’s length between 3 and 5 minutes for maximum views. Opt for close captioning of your videos so that the search engine recognizes the video content and displays it to people looking for similar content. Since a good fraction of video viewers stream on their mobile devices, you may want to shoot the video in portrait mode.

If there are any definite actions that you expect off your viewers, ensure that you have a CTA at the end of the video. There are several intros and outro-making tools that you can use to optimize your videos for maximum viewers. An intro maker helps you ensure that the viewer is glued to the video and does not abandon it mid-way.

9. Do Not Ignore the Sound Effects

Videos have better engagement rates because they appeal both visually and audibly. One of the most common mistakes that novice video editors make is that they ignore audio. In the competitive marketing scene of 2022, this is something that you cannot afford.

Focus on sound mixing and narration so that you can perfect your foley effects, audio levels, narration volume, and other technical details. You will be surprised how a simple ambient sound layer over a quiet scene can change the overall video appeal. 

10. Prioritize Your Video Content Distribution Channel

Once you have the video content ready, the next step is getting your target audience to watch it. Start by posting the video on popular video distribution channels such as YouTube and Vimeo. While posting on YouTube, it is a good idea to do so from your business account.

Depending on the video, you can also post that on your blog or website. If you have a video testimonial, try to post that in the ‘Customers’ Reviews’ section of your website. Similarly, you can create a video wherein you talk about your brand journey and post it in the ‘About’ section of your website.

A look at video marketing statistics reveals that emails with the word ‘video’ in the subject line are 7 times more likely to be read than others. So, share promotional videos through email newsletters for higher click rates. Also, share links to your promotional videos across all your social media handles.

Video marketing strategy for 2022: final thoughts

The above step-by-step approach to develop a video marketing strategy will help you stand out from the competition. It can also help you bring your product to the limelight and increase its reach among your target audience. This way, it will be easier for you to convince them about your products or services.

If you generate leads from several different channels but struggle with managing them, check out LeadSquared CRM and marketing automation suite. Take a free 15-day trial

Further reading:

Real estate management or property management is a difficult task for many people. It involves many moving parts, for instance, maintenance, taxes, tenant management, and security, to name some. For this reason, many people take the help of agencies and individuals to manage their properties. For example, Non-Residential Indians or NRIs make a good percentage of the real estate management inquiries. It is because managing their property while being overseas is not a workable option for most. It is one of the main reasons why more and more people seem to opt for professional real estate management services.

A Step-by-Step Guide to Better Real Estate Management

People hire real estate managers or property managers to maintain their properties while they are away or are not using them. At the same time, property managers also scout tenants for rental purposes. As a real estate manager or management firm, you will perform many complex operations that can be simplified using the right technology and tools. Let us delve deeper into how you can manage properties better and stay ahead of the competition.

What is real estate management? 

Real estate management, also known as property management, is a practice of routine inspection and management of different types of properties that fall under the following categories.

  • Residential
  • Commercial
  • Industrial

Usually, a third-party agency or an individual handles real estate management. 

These property managers are responsible for repairs, ongoing maintenance, and security (day in and day out) of the properties they handle. They work with the property owners on a contractual basis. Property managers help maintain the value of the property and create new wealth for the homeowners in the process. 

What are the different steps in real estate management?

For this article, we will focus on the organized residential real estate management segment in India. The following are the common steps in this type of management process.

1. Lead Generation

Real Estate Lead Generation

First, you must find prospective homeowners who are willing to list their properties for management. Data from the Global Web Index via Datareportal suggests that 81% of people search for a product or service online. Also, property portals report a 30-40% higher search activity for various properties than pre-Covid levels. 

Hence, creating an enhanced digital footprint will help you generate more business opportunities. Focus on your digital marketing strategy and invest in lead generation channels such as social media, organic, channel partners, and more. 

As stated earlier, many NRI homeowners need such services. Ensure that you factor in such people in your marketing strategy.

2. Customer Relationship Management

Customer Relationship Management Tool

Reaching out to owners and tenants can be a tedious job. There will be many interested candidates who may not be eligible and vice versa. With a CRM software, you can:

  • Automatically capture leads/inquiries from owners and tenants through various lead gen sources
  • Understand the performance of these channels and identify which sources work the best for you.
  • Maintain and manage inquiry-related data.
  • Give your agents a centralized dashboard to manage the prospect-to-customer journey.
  • Set up automated texts and emails to nurture the prospective tenant. 
  • Design the entire process flow in a few clicks.
  • Track and analyze conversions through ready-to-use sales report templates

3. Visit the site and assess the investment required to manage the property

Property Assessment through Site Visits

Upon generating a lead of the property owner, you must visit their property for an inspection. Based on that calculate the initial repair and utility costs to improve the property value. 

Now, you may need these investments either in the long term or the short-term. Based on this understanding, you must identify and fix any issues before listing the property for rent/sale.

4. Property photography

Real Estate Photography

According to SearchEngineJournal, 62% of people say that user-generated images of the product play an important role in their buying decisions. It is natural to want to know more about a product that you may be searching online. Hence, adding attractive images to the property profile will improve inquiry count.

You can also add images of amenities available at the property like swimming pool, open terrace, garden, and more. It will only raise the customers’ interest in the property and drive more leads. 

5. Advertise on multiple channels

Advertising on Multiple Channels

Here the lead generation is tenant facing. Register the property for rental on various digital channels, partner with brokers to drive leads for you. You can also list the property in offline media such as newspapers or leaflets. 

You can also create referral incentives for any interested people. It will also create new business opportunities for you. 

Once your channels start performing, you can directly funnel your inquiries into your CRM and track the entire lead journey from there on.

For example, you can list the property on Magicbricks and through LeadSquared-Magicbricks connector, capture all the leads into the LeadSquared Real Estate CRM automatically and distribute them to your agents.

Once your agents receive these leads, they can then follow-up, set reminders and close deals faster.

6. Connect with the prospective tenant and conduct site visits

Meeting with the Prospective Tenants

In sales, reaching out to a lead immediately after they have put an inquiry increases the likelihood of conversion. In other words, the turnaround time, or TAT should be as low as possible. Calling a lead instantly will create a good impression on the tenant and will also help you to secure an important event (site visit) required to make a successful deal.

Using LeadSquared , you can send automated reminders to the prospective tenant and the agent responsible for this lead. It will reduce the instances of missed appointments and ensure that they go through the scheduled property visit. 

During the visit:

  • Walk them through the best aspects of the property
  • Discuss all terms of renting
  • You must understand the features of the “ideal property” the tenant is interested in. 

7. Perform background checks

Checking Tenant Documentation

Once the tenant confirms their choice of property, loop-in the owner into the conversation. You can begin the documentation required to onboard the tenant. It includes:

  • Identity/Address Verification: Identity proofs are mandatory documents. At the time of onboarding, tenants must submit address proof and identification proofs. The address proof can be of any other house of the tenant.
  • Verification of Criminal Records: Ensure that you get the tenant vetted by police. It will help you understand if there are any ongoing legal cases against them. The police will verify the tenant in-person once the tenant submits the duly-filled identity proof documents. 
  • Employment and Income Details: Tenants with jobs must submit their employer details. It will tell you whether the tenant has a stable cash flow or not.

Based on these factors and other relevant documentation, you can choose to approve or reject the tenant application.

8. Help tenants move in/out and collect rents

Help tenants move in-out and rent collection

Although this is not a necessary step, you can help a tenant move-in/out to improve the customer experience. These days, people seek convenience. The homeowner or the tenant may choose to go ahead with a different property management service just because they provide some additional services like this. 

Helping a tenant settle into the new accommodation may involve setting up utilities and transportation of the tenant’s belongings. 

Post moving in, tenants have to pay security deposit. The security deposit compensates for any property damages that happen during the renting period. But in most cases, the security deposit is refundable. Since rent collection is a recurring activity, real estate managers can opt for automation. For instance, property managers who use CRM can set automated reminders for rent collection, send message to the tenant about the due payment, and set escalation in case of payment overdue. For effective real estate management, you can also ease the payment process with payment gateways and digital banking. 

9. Resolve disputes (if any)

Dispute Resolution

Sometimes tenant-related disputes may arise. As a property manager, you must resolve disputes through legal provisions discussed in the tenant agreement. If handled poorly, these cases can wind up in court. Tenants may also feel the burden of its consequences, more particularly the costs that they may not be able to afford.

A thorough understanding of the laws about tenant-landlord relationships is important to deliver the best customer experience. 

10. Manage property repair and maintenance

Repair and Maintenance

Another crucial part of real estate management is repair and maintenance. There will be many instances when some existing or new damages may flare-up. At such times, you must deliver quick and hassle-free servicing.

Why quick and hassle-free? 

Because it sets the expectations of the tenants about your customer service. The experiences will be the metric that other people will look towards before reaching out to you. 

At the same time, a positive review from these happy customers is what will bring in more future opportunities.

11. Analyze and act on feedback

Feedback Analysis

Feedbacks always help. Taking customer feedback for your services will help you introspect into the aspects that are most important to customers. For example, for some owners, getting regular updates about the state of their homes would be a priority. While for others, it may be the timely rent collection. 

On the other hand, some tenants might want better onboarding services, while others may focus on how fast their complaints are addressed. Once you know what your customers want, you can improve your process accordingly.


According to MarketsandMarkets, the global property management market is expected to grow from USD 14.47 billion in 2018 to USD 22.04 billion by 2023. With the growth of digital infrastructure and increasing visibility for all players, you must keep the customer content and find avenues of improvement. 

The points in this guide will help you polish your processes and improve your chances in the market. To grow your business, take a 15-day free trial of the LeadSquared Real Estate CRM.