What is Sales and Marketing Strategy of Manulife Company?

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What is Manulife's Sales and Marketing Strategy?

Manulife has significantly adapted its sales and marketing strategies to thrive in the ever-changing financial services sector. A major step in June 2024 involved launching a new global brand strategy and tagline, 'Where will better take you,' designed to create a unified global brand identity and emphasize its core mission of making decisions easier and lives better. This initiative, alongside its Investor Day events in Hong Kong and Indonesia during the same month, underscored Manulife's strong position to meet financial objectives and build momentum across its international operations.

Since its founding in 1887 as 'The Manufacturers Life Insurance Company' by Canada's first Prime Minister, Sir John A. Macdonald, Manulife's initial focus was on providing financial security. With an initial capital of $2 million, the company rapidly expanded globally, issuing its first policy outside Canada in Bermuda in 1893 and entering Asian markets by 1897. Today, it stands as a prominent international financial services provider, serving over 36 million customers worldwide through more than 37,000 employees and over 109,000 agents as of late 2024.

Manulife's evolution from a Canadian insurance provider to a global entity, operating as Manulife in Canada, Asia, and Europe, and as John Hancock in the United States, highlights a substantial shift in its go-to-market approach. This strategic transformation involves sophisticated marketing tactics and a clear brand positioning to reach diverse customer segments. The company's approach to sales in Canada, for instance, is tailored to the local market needs, while its digital marketing strategy for financial advisors aims to enhance client engagement and acquisition. Understanding how Manulife approaches sales in Canada and its key marketing channels for insurance products provides insight into its broader business strategy.

The company's sales tactics for wealth management clients are designed to build long-term relationships, supported by robust customer retention strategies in the insurance industry. Manulife's marketing campaigns for retirement planning services are particularly noteworthy, reflecting a deep understanding of customer needs in this crucial life stage. Furthermore, Manulife's brand messaging for life insurance products is crafted to resonate with individuals seeking security and peace of mind. The company also engages in strategic partnership strategies in sales and marketing, leveraging collaborations to expand its reach and service offerings. Its public relations and media outreach efforts are crucial for disseminating financial news and reinforcing its market presence.

Manulife's social media marketing for financial institutions is an integral part of its digital engagement, aiming to connect with a wider audience and provide valuable financial insights. The company consistently monitors Manulife performance metrics for sales and marketing teams to ensure effectiveness and identify areas for improvement. This comprehensive approach to sales and marketing, including a detailed Manulife BCG Matrix analysis, allows the company to effectively segment its markets for financial products and optimize its customer journey mapping for financial services.

Manulife's approach to sales channels is comprehensive, integrating traditional methods with a strong push into digital platforms. This multi-channel strategy is designed to cater to a wide range of customer preferences and needs across its global operations. The company's robust agent network and strategic partnerships are foundational to its market penetration, particularly in key growth regions.

The company's commitment to digital transformation is a significant aspect of its evolving sales strategy. Investments in technology are aimed at enhancing customer experience and streamlining the sales process, making financial products more accessible and manageable for clients. This digital focus complements its established channels, creating an integrated customer journey.

Agent and Distribution Network

Manulife relies heavily on its extensive network of over 109,000 agents and numerous distribution partners worldwide as of late 2024. This network is particularly vital in Asia, where agent-led sales are a significant contributor to new business volume. The effectiveness of this channel is reflected in the company's strong performance, with Q1 2025 annualized premium equivalent (APE) sales up 37% year-over-year.

Digital Transformation and Online Platforms

A strategic investment of C$1 billion from 2023 to 2025 is fueling Manulife's digital transformation. This includes the development of user-friendly mobile applications, such as the Manulife App, which saw nearly 70% adoption among customers in the Philippines by July 2025. Online platforms like Manulife Online and Manulife Shop facilitate digital policy management and product purchases, contributing to a 32% rise in straight-through processing rates between 2023 and 2024.

Strategic Partnerships and Bancassurance

Bancassurance models are a key component of Manulife's sales strategy, especially in Asian markets. These partnerships leverage the customer bases of financial institutions to distribute insurance products, significantly enhancing market reach and contributing to the company's growth trajectory. This approach has been instrumental in solidifying its presence in high-growth regions.

Focus on High-Growth Markets

Manulife's business strategy prioritizes high-growth potential areas, with a particular emphasis on Asia and Global Wealth and Asset Management (WAM). Asia demonstrated robust growth with a 43% increase in new business value in Q1 2025. The Global WAM segment also saw a 24% increase in core earnings in the same quarter, driven by a 13% rise in assets under management and administration (AUMA) to $1,041 billion, underscoring the success of its targeted expansion efforts.

Sales and Marketing Integration

The integration of sales and marketing efforts is crucial for Manulife's overall business strategy. By aligning these functions, the company aims to create a seamless customer acquisition and retention process. This synergy supports the Growth Strategy of Manulife by ensuring consistent brand messaging and effective outreach across all channels.

• Enhancing customer acquisition through targeted digital campaigns.
• Leveraging agent networks for personalized customer engagement.
• Utilizing data analytics to refine market segmentation.
• Strengthening brand positioning through consistent communication.

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Manulife employs a multifaceted approach to its sales and marketing strategy, integrating digital innovation with traditional outreach to effectively connect with its target audience. The company's commitment to digital transformation is a cornerstone of its efforts to build brand awareness, generate leads, and ultimately drive sales across its diverse financial services offerings. This digital-first mindset is supported by substantial investments aimed at modernizing its operational infrastructure and enhancing customer and distributor experiences.

The company's digital marketing strategy is robust, as evidenced by its strong online presence. The website, manulife.com, demonstrates significant organic search engine optimization, ranking for 18,780 organic keywords and attracting over 90,000 monthly visitors. This indicates a well-executed plan to capture online interest and drive traffic. Furthermore, Manulife has allocated over C$2 billion since 2017 to system modernization, with a focus on cloud technology, data quality, and artificial intelligence. These advancements are designed to improve interactions for both customers and financial advisors, aligning with the company's overall business strategy.

Digital Presence and SEO

Manulife's website, manulife.com, is a key digital asset, achieving strong search engine performance. It ranks for a substantial number of organic keywords, driving significant monthly traffic and supporting lead generation efforts.

Investment in Modernization

Since 2017, the company has invested over C$2 billion in modernizing its systems. This includes a strategic shift towards cloud-centric operations and the integration of AI capabilities to enhance customer and distributor interactions.

Data-Driven Personalization

Manulife is actively enhancing its data-driven marketing approach, focusing on customer segmentation and personalization. Initiatives like the improved Electronic Point of Sale System (ePOS) and customer needs analysis tools empower financial advisors with tailored solutions.

AI Maturity and Data Science

Recognized as the #1 life insurance company for AI maturity by Evident in June 2025, Manulife employs over 200 data scientists across its businesses. This expertise fuels its advanced analytics and personalization efforts.

Integrated Traditional Marketing

Traditional marketing channels complement digital efforts. The 'Where will better take you' campaign in July 2024 utilized high-impact placements in Hong Kong, including iconic locations and public transport advertising, to ensure widespread brand visibility.

Future Personalization Roadmaps

Manulife's strategic roadmaps extend through the end of 2025, with a clear focus on augmenting personalization across all platforms. This includes offering both broad, one-to-many communications and highly specific, one-to-one personalized customer engagement.

The company's marketing tactics are designed to create a seamless and personalized customer journey, reflecting a sophisticated understanding of market segmentation and customer acquisition. This integrated approach, which balances digital innovation with impactful traditional campaigns, is crucial for maintaining its competitive edge in the financial services sector and supporting its Growth Strategy of Manulife.

Key Marketing Tactics Overview

Manulife's marketing strategy is a dynamic blend of digital and traditional methods, emphasizing personalization and data utilization to drive customer engagement and sales. This comprehensive approach ensures broad market reach while catering to individual customer needs.

• Digital Marketing: Strong SEO, website traffic, and AI integration for enhanced customer interaction.
• Data-Driven Personalization: Utilizing customer data for tailored solutions and communications.
• System Modernization: Significant investment in cloud, data quality, and AI to improve operations.
• Traditional Advertising: High-visibility campaigns in key locations to build brand awareness.
• Advisor Enablement: Tools and platforms to support financial advisors in offering personalized advice.
• AI and Data Science: Leveraging advanced analytics with a large team of data scientists.

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Manulife positions itself as a trusted global financial services provider, aiming to make 'Decisions made easier. Lives made better' for its customers. This core message highlights the company's commitment to empowering individuals throughout their financial journeys, encompassing health protection, life insurance, investment management, and retirement planning. The brand's consistent visual identity and tone of voice convey reliability, security, and a deep-rooted history, tracing back to its establishment in 1887.

The company differentiates itself through its extensive global reach, with a notable emphasis on its significant presence and growth in Asia. This region was a key driver in 2024, contributing a 27% increase in core earnings and leading new business value growth with a 43% increase in Q1 2025. Manulife appeals to its target audience by offering financial security, promoting wellness, and facilitating wealth growth, often incorporating health-first approaches and innovative programs like the John Hancock Vitality program in the U.S.

Global Reach and Asian Growth

Manulife's brand positioning is significantly bolstered by its expansive global footprint. The company has demonstrated substantial growth in Asian markets, which is a cornerstone of its business strategy. This focus is reflected in its financial performance, with Asia contributing significantly to overall earnings and new business value.

Core Message: Empowerment and Support

The central brand promise, 'Decisions made easier. Lives made better,' underscores Manulife's commitment to guiding customers through their financial lives. This message emphasizes a supportive and empowering approach across all its product offerings, from insurance to investments.

Brand Value and Recognition

Brand Finance's Global 500 2025 report recognized Manulife as Canada's fastest-growing brand. Its brand value increased by 23% to USD 7.1 billion, climbing 67 spots to 336th globally. This recognition highlights strong performance in meeting customer needs and a positive reputation.

Customer-Centric Initiatives

Manulife prioritizes digital transformation and customer-centric initiatives to maintain brand consistency and adapt to evolving consumer sentiment. This approach ensures the brand remains relevant and competitive across its diverse channels and customer touchpoints.

The company's brand perception is further enhanced by strong performance metrics in key markets. In Canada, it scores highly for meeting customer needs, reputation, and consideration. Similarly, in important Asian markets such as Vietnam, Singapore, and Hong Kong, Manulife receives high scores for consideration and preference. This consistent positive reception across different regions is a testament to the effectiveness of its integrated sales and marketing strategy. Understanding the company's structure and leadership is also crucial for a comprehensive view, which can be explored further by looking at the Owners & Shareholders of Manulife.

Financial Security Proposition

Manulife's brand positioning strongly emphasizes financial security. This is a key element in attracting and retaining customers seeking stability and peace of mind for their future.

Wellness Integration

The integration of wellness into its offerings, such as the John Hancock Vitality program, sets Manulife apart. This approach connects financial well-being with physical health, appealing to a modern consumer mindset.

Wealth Growth Focus

Beyond protection, Manulife actively promotes wealth growth. This dual focus on security and growth caters to a broad spectrum of customer needs and aspirations.

Long-Standing Reputation

The brand's history, dating back to 1887, contributes to a perception of stability and trustworthiness. This long-standing presence is a significant asset in the financial services industry.

Asian Market Strength

Manulife's strategic emphasis on Asia is a key differentiator. The significant growth and strong brand perception in this region underscore its successful market penetration and adaptation strategies.

Digital Transformation

The commitment to digital transformation ensures Manulife remains agile and responsive to market changes and customer expectations, reinforcing its forward-thinking brand image.

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Manulife's sales and marketing strategy is characterized by impactful, globally coordinated campaigns that also allow for localized execution to resonate with specific markets. A significant recent initiative was the global brand strategy launch in June 2024, under the new tagline 'Where will better take you.' This campaign aimed to unify the company's global brand presence and reinforce its core mission: 'Decisions made easier. Lives made better.' The creative direction focused on empowering customers to achieve a better future, touching upon key areas such as health, life, investment management, retirement planning, and savings.

The execution of this global strategy was notably comprehensive, particularly in Hong Kong. It involved extensive multi-channel advertising, including prominent placements like wrap advertisements on the Star Ferry Pier, Hong Kong taxis, and digital panels at Hong Kong International Airport. Further enhancing visibility, the campaign featured bus shelter dominations and animated videos displayed on the M+ museum facade. While specific sales figures directly attributable to this broad campaign were not publicly disclosed, its primary objective was to significantly amplify brand reach and overall visibility, reflecting a renewed emphasis on customer empowerment as a central tenet of Manulife's business strategy.

Global Brand Strategy Launch

Launched in June 2024 with the tagline 'Where will better take you,' this campaign sought to unify Manulife's global brand and reinforce its mission. It centered on empowering customers for a better future across health, life, investment management, retirement planning, and savings.

Hong Kong Multi-Channel Execution

The global strategy was vividly implemented in Hong Kong through extensive advertising across major landmarks and transport. This included Star Ferry Pier wraps, Hong Kong taxis, airport digital panels, and bus shelter dominations, alongside M+ museum facade displays.

'Manulife Stories' Campaign (Philippines)

Awarded 'Marketing Initiative of the Year' at the Insurance Asia Awards 2025, this 2024 campaign in the Philippines invited customers to share personal experiences. It emphasized authentic customer engagement and highlighted how Manulife supported their journeys.

'Retire your way' Campaign (Hong Kong MPF)

Launched in Q4 2024, this campaign targeted Manulife MPF members aged 25-49 in Hong Kong. It aimed to encourage a re-evaluation of retirement planning and strengthen the MPF brand among a key growth segment.

These targeted campaigns demonstrate Manulife's commitment to a localized and customer-centric approach within its broader sales and marketing strategy. The 'Retire your way' campaign, for instance, was a strategic collaboration with creative agency To Be Honest and media agency iProspect, specifically designed to boost consideration among a younger demographic crucial for future growth in retirement planning services. This focus on specific customer segments and tailored messaging is a key aspect of Manulife's financial services marketing efforts, aiming to enhance customer acquisition and brand positioning.

Brand Resonance

The global brand strategy launch in June 2024 aimed to create a unified brand message worldwide.

Customer Empowerment Focus

Campaigns consistently highlight empowering customers to make decisions for a better future.

Localized Marketing

Campaigns like 'Manulife Stories' in the Philippines show adaptation to local customer narratives.

Targeted Retirement Planning

The 'Retire your way' campaign in Hong Kong specifically targets younger MPF members for retirement planning engagement.

Strategic Partnerships

Collaboration with agencies like To Be Honest and iProspect is integral to campaign execution.

Brand Visibility Amplification

Extensive multi-channel advertising in key markets aims to significantly boost brand awareness and reach.

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