In our last blog, we discussed the marketing strategy of HDFC bank. In this case study, we will look at the overall marketing strategy of HUDCO. HUDCO is a part of the financial industry and is a registered housing finance company (HFC).
Any successful organization always relies heavily on marketing. Marketing plays an important role in reaching and connecting together with the target market, which is ultimately how one business grows over time.
To promote an organization without a strategy will not lead anywhere that’s where marketing strategy comes into play as it provides clarity and helps achieve goals faster. Marketing is a component of a company’s DNA that can either make it or break it. As users across the world go digital, marketing has tracked them to the digital domain as well. If you are interested in new-age digital marketing, then you should check out IIDE’s Free MasterClass on Digital Marketing 101 by our CEO and Founder, Karan Shah.
We will fully cover the marketing strategy of HUDCO in this blog. Before we begin our deep dive into the marketing strategy of HUDCO, let us start by learning the company’s story, target audience, and digital presence.
Housing and Urban Development Corporation Ltd (HUDCO), India’s leading techno-financing public sector organization in the field of housing and infrastructure development was established on April 25, 1970, as a private limited company under the Companies Act 1956.
The company’s name was changed to “Housing and Urban Development Corporation Limited” and a new certificate of incorporation was given by the Registrar of Companies, Delhi & Haryana, on July 9, 1974. On December 9, 1996, the Department of Company Affairs, Ministry of Finance, India, designated the company as a public financial institution under Section 4A of the Companies Act, 1956. Furthermore, on July 31, 2001, the NHB gave them a certificate of registration allowing the company to operate as a housing financing organization.
Some of the objectives of HUDCO include To provide long-term financing for the building of dwellings for financial or residential reasons, as well as implementing housing and urban development programmes, To attempt or fund the development of satellite or new cities, in part or entirely, To purchase bonds and debentures issued by the state housing board, To keep track of the money received from the Indian government and other sources in the shape of grants or otherwise, at regular intervals, for the aim of carrying out or funding housing and urban development projects in the country, to create, collaborate, and promote.
HUDCO has a paid-up equity of Rs. 2,001.90 crore, with an authorized capital of Rs. 2,500 crore. With its slogan of “Profitability with Social Justice, HUDCO places a strong emphasis on the housing needs of the “deprived,” or Economically Weaker Sections (EWS) and Low-Income Groups, in its activities.
The Chairman and Managing Director of the company are Shri Kamran Rizvi, IAS. Shri Rizvi is an Uttar Pradesh cadre Indian Administrative Service (IAS) officer.
|CMO||Shiv das Meena|
|Market Share/ Revenue||7176.81 Crore|
|Vision||To be a leading techno-financial institution promoting sustainable habitat development for transforming the lives of people.|
|Tagline||Profitability with social justice|
Marketing strategy of HUDCO
STP – Segmentation, Targeting, and Positioning
Segmentation is the process of discovering distinguishing and common characteristics among people in your market, allowing you to create far more relevant and engaging marketing campaigns.
HUDCO finances projects of State Governments and their agencies like state housing boards, rural housing boards, police housing corporations, road development corporations, slum clearance boards, etc, and also Development Authorities, Municipal Corporations, etc. In addition to project lending, housing loans to individuals also are offered.
Here the marketing model is B2G and some of the segmentation strategies would include
Targeting involves the evaluation and selection of segments. In the case of Hudco targeting will include the government and government agencies.
Hudco maintains its position in high-quality projects. Hudco has a long-standing commitment to creating responsible work. Sustainability is an integral component of their approach to business and work practices.
Hudco does not have a great online presence even though they haven’t conducted any kind of campaigns. They don’t conduct any kind of advertisement campaign to promote their techno-financing.
Hudco can use the same marketing techniques as its competitors are using. The marketing campaign which they can follow from their competitors is advertising on television, launching an advertisement in newspapers, launching a short corporate film, and other marketing ideas.
Hudco can launch such advertisements and other media campaigns to increase its presence in India and other foreign countries.
Social media marketing
HUDCO LTD is present on most social media platforms. In terms of online activity, the company is moderately active with moderate or less than moderate followers on these social media platforms.
Facebook: HUDCO LTD
Twitter: HUDCO LTD
Youtube: HUDCO LTD
LinkedIn: HUDCO LTD LinkedIn
The company’s most popular social media account is Facebook, which has 4308 followers. They also use youtube to expand their digital presence by making informational content. Since the company’s clients include the government and other agencies owned by the government their focus is not primarily concerned with social media or social media marketing.
Effective SEO improves your online visibility. This implies that the more people that visit your website, the more internet traffic you’ll have and the more likely you’ll be able to reach a wider audience with your product or service.
In this case, The company has around 1465 organic keywords in total, which is good work by the SEO team in HUDCO. The site also has organic monthly traffic of 5770 which is poor but considering their only clients include the government and govt entities organic monthly traffic seems to be moderate.
The role of influencers in increasing brand awareness is one of the most visible benefits of digital marketing.
In this case, brand awareness isn’t prioritized through influencer marketing. Here we see no such marketing method adopted by the company simply because it’s not a privately owned company or rather it’s a company that offers financial support to govt and govt entities to help develop the nation. They are more concerned with social justice and social well-being and therefore influencer marketing become irrelevant to them.
Since HUDCO LTD provides loans and financial support, most of its transactions must take place through online portals.
The company doesn’t have any mobile applications up until now.
Content Marketing Strategies
Content marketing is an internet marketing strategy that focuses on creating, producing, and disseminating relevant content to a target audience.
The company has youtube videos related to the work they provide they also share informational content on their other socials. The company does not create content for brand awareness and brand recognition therefore they are not inclined toward producing content marketing strategies since its target audience itself includes the government and its other entities.
This ends our elaborative marketing strategy of HUDCO. Let us conclude our learning below from the marketing strategy of HUDCO.
What’s unique about Hudco’s Marketing Strategy?
Marketing is the activity, collection of institutions, and processes aimed at identifying, anticipating, creating, communicating, delivering, and exchanging useful offers that satisfy customers, audiences, partners, and society as a whole. In an era where public sector organizations must perform better in order to respond better to the public interest, marketing may help, regardless of whether they regulate the nature of public provision rather than generating products and services themselves.
HUDCO loan products include housing finance loans, urban infrastructure finance loans like water supply and roads and transport, social infrastructure and area development, etc.
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