Crafting Strategic Connections by Linking Marketing with Business Goals!

In today’s financial climate, aligning marketing strategies with business goals is a nuanced process that requires a comprehensive understanding of the company’s vision and strategic objectives. Understanding his circumstances, Sasith has demonstrated a unique approach to this challenge.

With an empathy led seamless integration of marketing plans into the broader business strategy, Sasith Bambaradeniya ensures that marketing efforts are not isolated activities but rather an integral part of a cohesive effort to enable, engage, and empathize with stakeholders and the organization’s objectives.

As the Chief Marketing Officer of AIA Insurance, his contribution to safeguarding the health, financial stability, and future of individuals and families across Sri Lanka in a meaningful manner was incredibly fulfilling and satisfying.

With the growing finance landscape, he is an expert in adapting to the evolving needs of his customers, distribution force and community to offer innovative products, services and experiences to suit their evolving needs.

His motive is to stay aligned to the brand purpose of AIA and help people live healthier, longer, and have a better life, which is the driving force that defines his role as the CMO. His work is focused on ensuring brand consistency across various marketing channels and touchpoints.

By aligning marketing strategies with the company’s broader vision and purpose, he has succeeded in making an impactful approach to his role as Chief Marketing Officer at AIA Insurance.

Here are the interview highlights:

Can you please introduce yourself and your motivation to embark on this sector?

Having started my journey at AIA as a Management Trainee in 2011, it has been a long journey with many learnings and experiences, which has resulted in me having the privilege of currently serving as the Chief Marketing Officer of one of the leading insurers in Sri Lanka and globally, AIA Insurance.

My journey into the insurance sector was driven by a deep-seated desire to make a meaningful difference in people’s lives. Insurance, fundamentally, is about providing financial protection and peace of mind, which resonates profoundly with the aspirations of many Sri Lankans.

Could you please give a brief introduction to your company and its inception story?

AIA Sri Lanka is part of AIA Group, which is a leading life insurer in the world by market capitalization. With a presence in 18 markets across Pan Asia, the company has a history of over 100 years of helping people live healthier, longer, and better lives.

In Sri Lanka, the company has been delivering on this promise for over 35 years and has established itself as one of the leading life insurers in the industry.

Since its inception, AIA has aimed to provide financial protection and long- term savings solutions to people across Asia.

How do you approach aligning marketing strategies with overall business goals as a Chief Marketing Officer?

Insurance is fundamentally a business focused on people. The human element is at the core of everything we do. Our priority in Marketing is therefore multi-faceted with a focus on the Customer, Distribution and Community.

In everything we do, be it product development, brand engagement, community engagement initiatives or overall marketing activities, the main goal is to cater to the needs of customers with a deep-rooted understanding of their needs and a great deal of empathy.

As such, everything we do is backed by a deep understanding of the behavior of our customers and community, as well as that of our Distribution force.

Fundamentals of empathy-led marketing start with challenging our own biases through carefully observing and understanding the environment around us.

Additionally, establishing clear metrics to measure the success of our marketing initiatives concerning business goals allows for continuous adjustment and alignment.

Finally, it is important to maintain a culture that promotes learning from mistakes and being better with that learning and our effort.

What strategies do you employ to foster collaboration between marketing and other departments within an organization?

Design thinking can significantly enhance collaboration between marketing and other departments through several key principles and practices:

Empathy and User-Centric Focus: Design thinking starts with understanding the needs and experiences of end-users or customers. By prioritizing empathy, the marketing team can align their goals and strategies with those of other departments (like product development, eco-system development, etc.), ensuring that everyone is working towards a common objective: meeting customer needs.

Cross-Functional Teams: Formation of diverse, cross-functional teams.

Including members from marketing, distribution, underwriting, claims, IT, etc. fosters a holistic approach to problem-solving, ensuring that multiple perspectives are considered and integrated.

Collaborative Ideation: Meaningful brainstorming sessions, a core aspect of design thinking, allow for the free flow of ideas across different departments. This can lead to innovative solutions that might not emerge within the silos of a single department.

Shared Goals and Metrics: By focusing on user outcomes and shared goals, design thinking helps align the objectives of marketing with those of other departments. This alignment ensures that all teams are working towards common metrics and success criteria, promoting a unified effort.

By fostering collaboration, open communication, and a user-centric focus, design thinking can bridge gaps between marketing and other departments, leading to more cohesive and innovative outcomes.

How do you ensure brand consistency and messaging across various marketing channels and touchpoints?

All our communications and campaigns, be they ATL, BTL, or digital, emphasize this central message. We maintain a consistent narrative by focusing on the key pillars of physical wellness, mental wellness, financial wellness, and environmental wellness.

Each campaign and message highlights how we support and enhance these aspects of well-being, ensuring that our brand purpose is reflected in every interaction.

By consistently promoting these themes, we create a unified and compelling brand presence that resonates across all channels and touchpoints.

How do you approach building and leading a high-performing marketing team to drive organizational success?

Building and leading a high- performing marketing team to drive organizational success hinges on promoting meaningful innovation, breaking down silos, and fostering collaboration.

Encouraging team members to think creatively and challenge the status quo cultivates an environment where innovative ideas can thrive. By breaking down silos and ensuring open communication and collaboration across departments, we enable a more cohesive and integrated approach to our marketing efforts.

I believe empathy is key to understanding both team members and our audience, ensuring that our strategies resonate on a deeper level. By nurturing a culture that values innovative thinking, cross-functional collaboration, and compassion, we create a dynamic and high-performing marketing team that drives organizational success.