Train of Thought

Social media enthusiasts are often quizzed on the ROI that it delivers, and in many cases,  ‘conversation with customers’ is met with a lot of skepticism. which led me to wonder about the kind of ROI this activity would generate.

“Max New York Life Insurance has signed a Public Private Partnership (PPP) pact with the Indian Railways. From July 8, Chennai, Bangalore and Trivandrum Rajdhanis will sport Max New York Life advertising on its exterior.” It would provide upgraded services like high quality flooring, soap dispensers, tissue paper dispensers…. and so on. Great, I have always wanted that in those Harappan age railway compartments, though I always had a feeling Max was into insurance.

I can understand SBI having a co-branded card with IRCTC, Citi having a card for Delhi Metro etc, but the revenue/communication model that this venture of Max falls in, I fail to understand. Unless of course, Max will send an insurance advisor in the compartment. The ‘potential customer’ is trapped with him for the entire journey, and might buy a policy just to get rid of him.

Meanwhile, a couple of thoughts came to me when I read this post on Mumbai’s local trains. Every now and then, there is a horror story of how a gruesome accident occured in one of these trains. Doesn’t it make a lot of sense for an insurance company to do some contextual communication here? How about tapping this entire community which is so prone to such occurences?

The other thought that came to me was from a conversation on twitter on how religion is one massive social network. Unlike schools and colleges, which have a real life basis for networking, religion is spread across geographies with most users unaware of each other, and even has user generated versions springing up every now and then. Even the local trains in Mumbai offer a platform for a social network (no pun intended). I guess there are vertical networks like that all around, the only trick is to satisfy a set of needs and then be able to monetise it.

until next time, maximising social media

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