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Precise Marketing Strategy of AU Small Finance Bank – With STP Analysis & Campaigns

Updated on: Dec 17, 2022
marketing strategy of au small finance bank - featured image

In our previous article, we learnt the marketing strategy of the Bank of India. In this article, we will focus on the marketing strategy of AU Small finance bank.

AU is one of the well-known commercial banks which serves many financial services to all walks of life people and all sorts of businesses. Middle-income people are getting a lot of benefits because of the AU finance bank. The micro-financed businesses are also able to smoothly run their business with the facilities provided by the AU small finance bank. 

The bank is ranked 257th among the Fortune India 500 Companies, enabling a convenient banking experience with many industry-first initiatives.

Thus, as you can see, the world is fully digital now, and marketing is an important part of every industry. If you are interested to know more about marketing then do check out our Free Masterclass on Digital Marketing by the CEO and founder of IIDE, Karan Shah.

We will learn the entire marketing strategy of AU small finance Bank by the end of this blog. Before diving deep into it, let’s begin with the company’s story, target audience, and digital presence.

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About AU small finance Bank –

marketing strategy of au small finance bank - logo

Source – www.aubank.com

An Indian small finance bank with headquarters in Jaipur, India, is called AU Small Finance Bank Limited. On April 19, 2017, it changed its name from AU Financiers (India) Ltd, a vehicle finance firm, to a small finance bank.

Micro and small enterprises that have little to no access to official banking and finance channels, as well as low- and middle-income individuals, are served by AU Small Finance Bank. Loans, deposits, and payment products and services are all provided by the Bank.

The business was established as a private limited company on June 29, 2017, by Sanjay Agarwal, managing director and CEO of AU Small Finance Bank. He owns a 28.5% share in the Bank and is a first-generation entrepreneur and merit-holding, Chartered Accountant. He is aided by a group of 23,486 workers.

The market capitalization of AU Small Finance Bank, which is listed on the NSE and BSE, is Rs. 37,942 crores. The stock increased 51% on its first day of trading, making it the most expensive bank in India based on price-to-book.

The bank’s growth prospects were further enhanced by the Reserve Bank of India’s addition of the bank to its list of commercial banks in November 2017, which decreased the cost of short-term funding and enhanced the bank’s capacity to offer services.

AU Small Finance Bank, with yearly revenue of 3,410.87 crores (US$427 million) and total B/S assets of 31,198.68 crores (US$3.9 billion), was rated 355 on the list of Fortune India 500 (2019) companies. According to CRISIL Ratings, ICRA Ratings, India Ratings, and CARE Ratings, AU Bank has a long-term credit rating of “AA-/Stable.”

Quick Stats on AU small finance Bank –

CEO Sanjay Agarwal
CMO
Area Served India
Industry Financial
Market Revenue Rs.3817 Crore (2021)
Vision To be the world’s most trusted retail bank and coveted employer that is admired as the epitome of financial inclusion and economic success, where ordinary people do extraordinary things to transform society at large, thereby guaranteeing Trust, Confidence and Customer Delight.
Tagline ‘Badlaav Humse Hai’

 

Marketing Strategy of AU small finance bank –

Let’s start the marketing strategy of AU small finance bank by discussing its STP Analysis.

Segmentation, Targeting, and Positioning

AU small finance bank segments its services into –

  • Personal Banking
  • Commercial Banking 
  • Digital Banking

AU small Bank finance targets the age group (18- 60) and,

  • Children
  • Millennials
  • Students
  • Home-maker
  • Salaried
  • Senior Citizens/Pensioners
  • Farmers
  • Non-Residen Indian (NRI)
  • Small Businesses
  • MSMEs
  • Self Employed Professionals
  • Trust/Association/
  • Societies/Clubs (TASC)
  • Corporates
  • Govt institutions

AU’s positioning in the market has increased after their several collaborations and campaigns as mentioned in the blog. AU small finance Banks’ powerful message to bring a change in the banking system as well as in society helped in positioning as their message made close contact with the hearts of people.

Marketing Campaign

  • Badlaav humse hai campaign

marketing strategy of au small finance bank - marketing campaign

It was released to make a shift in the banking system and freedom from old habits. The bank aims to spread the advanced banking feature:

As stated by RBI’s guidelines AU has started a journey of becoming a universal bank by next year. TV is chosen as an important medium to raise brand awareness to reach their target segments.

AU Finance Bank released its first festive campaign for Ganeshotsav under its umbrella #BadlaavHumseHai. The campaign addresses the age-old custom of males in the household eating before the women.

  • AU Bank comes up with a digital-only campaign for LIT Credit Card on June 28, 2022.

marketing strategy of au small finance bank - marketing campaign

AU Small Finance Bank recently launched the LIT (Live It Today), Credit Card, for young, digital-savvy cardholders.

Launched over YouTube, the digital-only campaign of LIT Credit Card includes three 15-second films that highlight the unique benefits that LIT Credit Card has to offer.

The digital campaign of LIT Credit Card is a performance-driven marketing campaign focusing on lead generation.”

  • PAAKHI- save the bird campaign

marketing strategy of au small finance bank - marketing campaign

The campaign was held to establish an emotional connection with the youth and enable quality lead generation. 

In that campaign, more than 90 branches in the west, north, and south participated.

AU provided clay pots in residential areas, parks, and more to provide birds water in scorching summer. It was one of the most memorable campaigns AU bank has launched.

Social Media Marketing

Social media marketing is really important when it comes to gathering the audience at large and no wonder a bank like AU Bank uses it to its full advantage.

The Bank can be found on these –

  • Facebook: 328,624 followers
  • Instagram: 21.4k followers
  • Twitter: 12.6k followers

As we can see from the above stats, the AU is most followed on Facebook and they keep their followers. AU keeps its customers hooked up on all the platforms and they are super active in all the channels. The type of content that the AU utilizes is; informational, promotional, and awareness and as well they do festivals’ wishes and more too.

Hey, If you want your business to get successful on social media platforms or have a curiosity about how marketing works on these channels, then you must check out the short-term Social Media Marketing course offered by IIDE in which you will get everything you are looking for to know-how marketing works on social media.

SEO Strategies

marketing strategy of au small finance bank - ubersuggest seo screenshotSource – UberSuggest

As per the SEO (Search Engine Optimization) ranking, it is stated that the number of keywords – which is below 500 is bad, above 1000 is good, and 10,000+ is amazing. As we can see that AU small finance bank has 133K+ organic keywords and this is considered amazing. This means the digital marketing of AU small finance bank has gained an amazing number of insights. 

Also, the traffic per month is around 554K+ which is also Great Traffic. Hence, AU small finance bank is going so well in SEO as well. It has great SEO strategies.

Influencer Marketing  

As a part of influencer marketing AU small finance bank has chosen Bollywood superstars – Kiara Advani and Aamir Khan as their leading influencers. Both stars have rising popularity among youth as an icon. Both of them are seen promoting AU Bank services in a series of advertisements. You can check AU Bank’s social media handle to know more. 

“Kiara Advani is one of the most popular Indian film actors and a youth icon. Her professional choices and repertoire of work find perfect resonance with AU’s journey so far” said Sanjay Agarwal.

E-Commerce Strategies

Another factor for this bank to be renowned is because they have an online portal that is active 24/7 for the customers for account opening as well as other facilities.

Mobile Apps

The bank has a mobile app named  AU 0101

Users can avail of the service of smart Banking and can also Enjoy 24×7 access to their funds through AU 0101 App and AU 0101 NetBanking, a video banking facility, and more according to the user’s convenience.

AU provides WhatsApp Banking services to their customers. The savings account can be opened by just texting the bank via WhatsApp and one can also find one’s nearest branch at their convenience.

Content Marketing Strategies

The Bank is very agile in terms of content marketing.  They are very fast in sharing their content with their target customers. They are very active to upload blogs to their customers about the facilities they provide with just a click.

The blogs are about financial literacy and account opening including savings accounts, current accounts, fixed deposits, credit cards, debit cards, Digital banking Insurance, and more.

This ends with the elaborative marketing strategy of AU small finance Bank. Let us conclude our learning below from the marketing strategy of AU small finance Bank.

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What’s unique about the marketing strategy of AU small finance bank?

The bank has targeted all sorts of people and touched the sentiments and emotions of each audience. 

Campaigns such as PAAKHI and Teacher’s day were held to build an emotional connection with the audience of every age group. 

The desire is to bring a change in social norms and accept the new change in stereotypes whether it’s the Bank’s new digital-friendly facilities or the society.

Video banking to open a savings account is a new facility introduced in 2022 by AU Bank only.

The bank is famous for its “Badlaav humse hai” Campaign urging the rising importance of digital marketing going with a rapid change. 

To conclude, the Marketing strategy of AU small finance bank is amazing.

Check our Online Digital Marketing Course if you want to learn more and improve your marketing skills. Alternatively, you can enrol in the Post-graduation Program in Digital marketing.

We hope this blog on the marketing strategy of AU Bank has given you a good insight into the company’s marketing strategies.

If you like such in-depth analysis of companies just like the marketing strategy of AU Bank check out our IIDE Knowledge portal for more fascinating case studies.

Thank you for taking the time to read the marketing strategy of AU Bank, and do share your thoughts on this case study marketing strategy of AU small finance Bank in the comments section below.

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Aditya Shastri

Lead Trainer & Head of Learning & Development at IIDE

Leads the Learning & Development segment at IIDE. He is a Content Marketing Expert and has trained 6000+ students and working professionals on various topics of Digital Marketing. He has been a guest speaker at prominent colleges in India including IIMs......[Read full bio]

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