In the previous blog, we learned about the in-depth SWOT analysis of Motilal Oswal Financial Services. In this article, we will discuss the marketing strategy of Equitas Holding.
Business in 2007 to the launch of Equitas Small Finance Bank in 2016. Empowering through financial inclusion to serve 5% of Indian households by 2025 with fair and transparent values is the mission, vision and values of the company.
Another aspect that made Equitas Holding the massive it is now is its marketing efforts. As the world goes online, marketing is changing and if you are curious in learning about the latest – check out our Free MasterClass on Digital Marketing 101 by the CEO and Founder of IIDE, Karan Shah.
In this study, we will look into the marketing strategy of Equitas Holding. First let us get to know the company overview, targeted audience and STP analysis.
About Equitas Holding
Leading microfinance company – Equitas Holding Limited is another successful investor in subsidiary companies and loan providers to them registered under the RBI. The business was commenced in 2007 in Tamilnadu.
With pan India operations, the company is focused on providing financing solutions for individuals and MSEs that are underserved by formal financing channels. It takes care of such businesses while providing a comprehensive banking and digital platform for all.
|Area Served||Pan India operations|
|Industry||Banking and financial services|
|Market Share/ Revenue||The estimated annual revenue is INR 557.57Cr for the 2022 year|
|Vision||empowering through financial Inclusion|
|Tagline||It’s Fun Banking|
Marketing Strategy of Equitas Holding
Now let us learn about the marketing strategy of Equitas Holding and their analysis and campaigns.
Segmentation, Targeting and Positioning
Equitas Holding targets the underprivileged and socially unserved segments in urban, semi-urban, and rural India. They are sharpening their focus on the middle-income, lower-middle, and upper-middle segments of society. As a result of increased financial inclusion, a large number of households are transferring from the low-income to middle-income categories. They are focusing on capturing a larger share of this aspiring segment.
Equitas Small Finance Bank Limited focused on providing financing solutions for individuals and micro and small enterprises (MSEs) that are underserved by formal financing channels.
The bank offers customized savings products with a focus on giving to children, youth, families and entrepreneurs across India.
They believe that they have succeeded in upholding their objective of building a lasting relationship with customers and connecting them with significant opportunities.
They mainly focus on simplicity, convenience, assistance, trust, and security for the customers.
Recently in June 2022, Equitas Holding one of the subsidiaries – Equitasbank tie-up with ixigo flight booking to provide a flat 7% off up to Rs 1000 on flight booking with Equitas Debit Card.
The process to redeem the offer is shown in the above image. The marketing idea benefited both companies. Similarly, Equitas Holding consistently does such a marketing partnership with other companies like MediBuddy, RuPay, ICICI Prudential etc. The marketing tie-ups mutually benefit both entities to increase sales and brand awareness.
Equitas Bank conducted a Green Exhibit campaign in June 2022 in which a plant exhibition was organised in the HSR layout & Kasur Nagar branches in Bangalore. The exhibition had over 100 rare and unseen plants on display. The aim is to maintain a sustainable environment for the future. The post related to it on Instagram got views of more than 1,300+ as you can see in the above image.
Equitas Bank conducted a series of advertisements and promotions in IPL 2022, as a bank sponsor of the team CSK. In this series, Equitas Bank launched a Debit Card printed out Super King team. The card Super 7 was for individuals and CSK fans. Many fans of CSK purchased the card and got the benefit of earning higher interest rates in savings.
Social Media Marketing
- LinkedIn – Followers: 143k+
- Facebook – Followers: 119k+
- Instagram – Followers: 6,446, Posts: 1,115
- Twitter – Followers: 7k+
Equitas Holding is active on social media like Facebook, Instagram and LinkedIn. It has more followers on LinkedIn than on Facebook and, at last, Instagram and Twitter.
LinkedIn is more of a professional social media platform, excludes peer groups and focuses on professional groups of society who follow Equitas Holding through LinkedIn.
Instagram is a social media platform that includes most young teenagers & peer groups. They are generally not interested in a bank page since they don’t find anything interesting. Instagram is more of an entertainment platform. It is for businesses that deal in fashion, food, grooming items, creatives etc. Therefore, the number of followers on Equitas Holding’s Instagram page is low, but the company consistently posts on it.
The social media platforms of Equitas Holding always try to post, environment & sustainability, promotional and informational content along with their product posts, and they announce campaigns on every special day. It reaches thousands of people.
The company is relatively active on social media and shares posts frequently because today people are going digital and so are businesses. So, to compete in this competitive industry the brand needs to work more on its social media handles.
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According to SEO strategy, considering the number of keywords – below 500 is poor, above 1000 is good, and 10,000+ is fantastic. As we can see one of the Equitas Holding subsidiaries – Equitas Bank website equitasbank.com has 45k organic keywords & is considered superb.
That means the digital marketing strategy of Equitas Holding is gaining a good number of insights. Equitas Holding’s digital marketing is attracting a great number of visitors. The monthly traffic is in the 199,000+ range, which is considered awesome in SEO terms.
However, if a company wants to set a benchmark before its competitors or remain at the top of its market, it must continuously work on its SEO techniques to attract a significant amount of organic traffic to its site, which leads to an increase in sales, which is beneficial to the company.
Equitas Holding & Equitas Bank doesn’t use this mode of marketing.
Equitas Holding collaborated with many online shopping websites such as Bigbasket, Amazon, Dunzo, Netmeds, Myntra, Ajio, Snapdeal, and Swiggy by availing special offers on purchasing the products through Equitas Debit Card. Equitas Holding’s e-commerce strategies are extensive. They were associated with most Indian and international brands. They have promoted the use of digital payments and cashless transactions.
Equitas Holding has got mobile applications on both Android and iOS phones. Customers can log in with their registered mobile number linked to their bank account. Customers will be able to see their saving account details and transactions.
Through mobile apps, account holders can perform any banking tasks on the go, from anywhere at any time. Account-holders can apply for FD and RD through mobile apps.
The application has more than 1M+ downloads and a star rating of 4.0.
Content Marketing Strategy
Equitas Holding shares information about its business and marketing through different means. Since 2007, Equitas has published a monthly newsletter. Frequently, they update their television coverage, print coverage, online coverage, and press releases on their official website.
Equitas updates its remarkable signs of progress through all social media pages. They are perfectly active on every social media platform and frequently partner with big brands and businesses.
They have updated their presentation every quarter of the financial year on their official website. By reading their Newsletter Archive, we can track their progress as they steadily grow to reach over a million Indians.
This ends our elaborative marketing strategy of Equitas Holding. Let us conclude our learning below from the marketing strategy of Equitas Holding.
Conclusion – What’s unique in Equitas Holding marketing?
In the marketing strategy of Equitas Holding, we saw that Equitas is gaining love and support across India. Equitas is successful in building lasting relationships with customers and providing them significant opportunities.
The uniqueness of Equitas Holding is that they focus on all segments of society equally & they have steadily grown to reach over a million Indians. Their powerful marketing strategy is to uplift underserved and unserved businesses. Though Equitas is on a growth path in its digital marketing and trying to be active on social media, it is still trying to engage and grow in the digital sector.
Check our Online Digital Marketing Course if you want to learn more and improve your skills. Alternatively, you can enrol in one of our free online masterclasses led by IIDE’s CEO, Karan Shah, to gain insight into the field of digital marketing.
We hope this blog on the marketing strategy of Equitas Holding has given you a good insight into the company’s marketing strategies.
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