A STUDY ON THE EFFECTIVENESS OF SOCIAL MEDIA PLATFORMS IN PROMOTING SBI LIFE INSURANCE PRODUCTS IN NAGPUR

Abstract

In the digital era, the role of social media platforms has significantly transformed marketing strategies across various industries, including insurance. This research investigates the effectiveness of social media platforms in promoting SBI Life Insurance products in Nagpur. The study focuses on evaluating how platforms such as Facebook, Instagram, and Twitter are leveraged to engage potential customers, enhance brand awareness, and drive sales. By examining the strategies employed by SBI Life Insurance on these platforms, the research highlights the interplay between social media marketing and consumer behaviour within the context of the insurance sector. Primary data was collected through surveys and interviews with consumers and marketing professionals, offering insights into the reach, engagement, and conversion rates of digital marketing campaigns. Additionally, the study assesses the impact of targeted advertising and customer interaction on the overall perception of SBI Life Insurance products. Results indicate that social media platforms have become an essential tool in the promotion of insurance products, with significant success attributed to customized content, consistent communication, and interactive features. However, challenges such as scepticism regarding online advertisements and the complexity of life insurance products remain. This paper concludes with recommendations for enhancing the effectiveness of social media marketing for insurance products, emphasizing the need for more personalized strategies and improved consumer trust.