Digital Transformation of Marketing Strategies during a Pandemic: Evidence from an Emerging Economy during COVID-19

Abstract

This study explores the relationship between digital marketing practices, customer satisfaction, customer involvement, and purchase intention. The focus is on the life insurance digital marketing strategies during a pandemic and the resultant lockdown and shutdown. This work sought to analyze the digital transformation of marketing practices and the customers’ resultant purchase intentions. COVID-19 was taken as the prevailing pandemic and its impact on the digital transformation of marketing strategies. Five dimensions of digital marketing strategies with eighteen items and three items each of customer satisfaction and purchase intention were considered for practical purposes. It used structural equation modeling to study 535 responses of life insurance customers. Findings indicate that SEM/SEO, display, and E-CRM practices significantly impacted customer satisfaction and purchase intention. Further, a mediation-cum-moderation approach was undertaken. Customer satisfaction significantly affected purchase intention and played a good mediator between digital marketing practices and purchase intention. Additionally, customer involvement moderated the relationship between content marketing and communication with purchase intention. This research work helps life insurance marketers in general. The digital channel managers expressly understand their key areas of strengths regarding the five dimensions of digital marketing strategies. Accordingly, they frame their plans for decision-making to improve customer satisfaction and resultant purchase intentions. It provides a direction for future adoption of specific marketing strategies during a pandemic and consequent shutdown and lockdowns.