Previously, we learned about the SWOT analysis of Finzy. In this article, we are diving into the marketing strategy of Finzy – the FinTech service that makes finance easy.
Our mission here is to help you understand how Finzy became one of the most popular and recommended FinTech brands in India. Marketing is the soul of any company and either makes it dead or alive. The world keeps becoming a vast digital space and marketing has not been left behind.
Want to learn about digital marketing as it is progressing currently? Then you should register for the Indian Institute of Digital Education’s ( IIDE) Free MasterClass on Digital Marketing 101 by our CEO and Founder, Karan Shah.
We will dive into the marketing strategy of Finzy which includes the content marketing strategy, social media marketing strategy, digital marketing strategy, and the different types of marketing strategies used. But, we will start from the beginning: the company overview.
About Finzy – The Company Overview
Finzy was founded in 2016 by founder Amit More with an ambition to make the entire borrowing process simple and user-friendly for the ones who are in need. Finzy is a seed company and the employee strength at Finzy is 11 to 50.
Finzy strives to get borrowers the loan in the quickest turnaround time, at the lowest rate of interest and in a hassle-free manner. The team of Finzy are professionals who have excelled in their fields ranging across finance, technology, product, sales, marketing and leadership.
| CEO | Amit More |
|---|---|
| CMO | Vishwas Dixit |
| Area Served | India |
| Industry | Financial Services |
| Market Share/ Revenue | $4M |
| Vision | The online P2P (Peer to Peer) place for consumer and business loans |
| Tagline | Finance is easy |
Marketing Strategy of Finzy
This brand has its content marketing strategy, social media marketing strategy, and digital marketing strategy on point. A perfect example of a brand that has successful marketing strategies. It creates content on the major social media platforms: Facebook, Instagram, LinkedIn, and Twitter. It also has a beautifully designed website.
Segmentation, Targeting, and Positioning
The target audience is people or clients (not organisations who want to borrow money and want to invest in better securities.
Finzy is mostly a primary market segment. It makes the loaning process quicker and easier and serves as the intermediary between the person taking the loan and the investor. It is a for-profit company. The target audience is further divided into people with different risk factors: high-risk factors and low-risk factors. People with high-risk factors are willing to take greater risks with their finances while people with low-risk factors are not willing to take risks with their finances. Financial institutions learn how to target them and market to them.
It also encompasses the minimalist and the opportunist. The minimalist is just like the audience with low-risk factors. They prefer approaching things moderately and will not be the ones to take loans for the craziest or most daring reasons. The opportunist is the other side. Businessmen and women who need loans to finance their business or support a project. Entrepreneurs who need loans for start-ups. Students who need loans to be able to make it through college. Other sets of people need loans to purchase a property.
The target audience is a wide net whose only limitation is age with below 18 being non-eligible. With financial services becoming more competitive, and banks still being the most trusted with the sudden influx of FinTech, Financial institutions position themselves as the quickest and easiest. Everyone would love to skip the hassle of bank processing and documentation.
Geographically, it is based in India and plans to expand to two of the most famous states: Mumbai and Delhi. It is open to both genders; there is no age range as long as people are creditworthy and can prove it.
Marketing Campaigns
If you were expecting Finzy to have numerous marketing campaigns, lower those expectations. While their creatives and captions are great, their campaigns need a boost. There are lots of campaigns people can do about money. Nevertheless, here’s a campaign on their social media page.
They have integrated the same message in branding and marketing: finance is easy. Do whatever you want to do without worrying about funding and have a stress-free process of getting a loan. No one on earth doesn’t want a stress-free loan process.
Finzy Kiya Kya
Kiya Kya is a social media advertising strategy. It is what people can do with loans. The Indian community is targeted directly with – Finzy Kiya Kya?
That directly means – if you still haven’t taken the services from Finzy then you should now.
Social Media Marketing
Its corporate office address is 118, 1st Floor, 80 Feet Road, Koramangala, 7th Block, Bengaluru 560095.
Finzy has 65,000 followers on Facebook.
Finzy has 2.7k followers on Instagram.
Finzy has 3.3k followers on LinkedIn.
Finzy has 280 followers on Twitter
@finzyindia on Youtube with 117 subscribers
They are followed mostly on Facebook and LinkedIn.
Content is majorly promotional and informative; new loan plans. How-to’s, etc. Youtube videos range from discussions about Life at Finzy from employees to lectures about investing.
Although Finzy has ignored making use of campaigns, their copies and creatives are top-notch. They convince you to take loans to have the perfect family trip, invest in your ambition or invest in your dream. An example is the caption “Invest in your future ambitions. Leave the financing to us”. Nice way to get you to take a loan.
Other than that the posts on social media platforms like Instagram are mostly related to festive wishes, loan promotions, tips and guidance etc.
SEO Strategies
For proper search engine optimization, the number of keywords affects the ranking. With 351 organic keywords, the SEO ranking for Finzy is not good. For it to be good, it has to be 1000 and above.
With a poor score on the number of keywords, the traffic per month is no surprise. It has 3,232 organic visitors per month but needs above 20000 to be considered a good score.
From the numbers in the stats, Finzy needs to get its SEO strategy game on. With less than the acceptable number of visitors per month, it is making itself blind to its potential prospects and clients.
Influencer Marketing
The process of identifying, engaging, and supporting individuals who initiate conversations with a brand’s customers is known as influencer marketing. It is a growing trend used in public relations campaigns. In recent years, this strategy has become increasingly focused on social media, allowing brands to market through social media influencers. Influencer marketing will also be a big trend in 2022 and beyond.
Influencer marketing, which mixes brands and influencers working together, maybe a strong strategy that may help businesses develop. It is a marketing approach that’s been employed successfully by thousands of organisations and brands for over a decade and is still growing.
Finzy has many awards and accreditations to its name and has been featured in Hindustan Times, and The Economic Times, amongst others.
However, they are still missing something important. The influence of an influencer. With many celebrities in and out of Bollywood that have made investments, getting an influencer will not be hard.
Ecommerce Strategies
Finzy.com is the website for the FinTech brand where it provides its loan services and special offers. It has an online portal active 24/7 for the customers for account opening and other facilities.
If you are interested in knowing more about e-commerce, then we at IIDE are providing an online e-commerce course that includes extensive training of this platform.
Mobile Apps
No, it doesn’t have a mobile app but you can create an account and login on to the website. There is no Finzy App. You will be asked to input the loan amount, loan purpose, and tenure before application.
Content Marketing Strategies
Their content is majorly informative. Posts pick the interests of their prospects and create posts for them. An example is their post on receiving EMIs instead of paying them.
Content is brought out mainly through Facebook and LinkedIn. Finzy is very active on social media.
This ends the elaborative marketing strategy of Finzy. Let us conclude our learning below from the marketing strategy of Finzy.
What’s Unique in Fitzy’s Marketing?
Careful people! Borrowing has never been sweeter and very easy. It makes use of digital marketing but has a long way to go. The most beautiful thing about Finzy is its graphics and caption. The design communicates what it needs to and leaves you wanting to see more. They have good copywriting skills to complement good graphic designs. This quality is visible in the Finzy logo.
The company’s issue is its failure to maximise its social media presence through effective campaigns and its little usage of the power of digital marketing.
Digital marketing is crucial since it links a company with its clients when they are online and is effective across all sectors. It links businesses with ideal consumers through SEO and PPC on Google, social media marketing, and email marketing. If you would like to learn more and develop skills, check out IIDE’s 4-Month Digital Marketing Course to learn more.
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 Finzy 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 Finzy check out our IIDE Knowledge portal for more fascinating case studies.
Thank you for taking the time to read the marketing strategy of Finzy, and do share your thoughts on this case study marketing strategy of Finzy in the comments section below.
0 Comments