In our previous article, we learnt in detail about the marketing strategy of a fascinating brand, Incred. In this article, we will elaborate on the marketing strategy of IFCI – one of India’s leading financial institutions.
The objective is to learn and understand how IFCI has played an important role in the development of the country’s industrial sector.
Marketing nowadays has become like a backbone of a company with which it is possible for a company to grow and sustain itself in this competitive world.
If you are interested in new-age digital marketing, then you should definitely check out IIDE’s Free Masterclass on Digital Marketing by our CEO and Founder, Karan Shah.
About IFCI – Company Overview
IFCI (Industrial Finance Corporation of India) is a financial institution established in 1948 to provide long-term finance to large-scale industrial projects in India.
Over the years, IFCI has played a significant role in the development of the country’s industrial sector, particularly in the areas of infrastructure, power, and manufacturing. The institution provides financial assistance in the form of loans, guarantees, and equity investments to eligible companies.
In addition to financing, IFCI also offers a range of advisory and consultancy services to its clients. With its experience and expertise in industrial finance, IFCI continues to be a major player in India’s economic growth story.
Emandi Sankara Rao
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To be a leading institution in providing integrated financial and advisory services for industrial development and growth in India.
Financing the Growth of Indian Industry and Partnering in Progress
Marketing Strategy of IFCI
Let us have a look at the fantastic marketing strategies of IFCI. We will look into its marketing campaigns, SEO strategies, etc.
Segmentation, Targeting, Positioning
STP analysis is a marketing tool that stands for Segmentation, Targeting, and Positioning. However, as IFCI (Industrial Finance Corporation of India) is a financial institution that provides long-term finance and advisory services to industries, STP analysis may not be applicable to their business in the traditional sense of marketing.
Instead, IFCI’s approach to serving its target market could be viewed as follows:
Segmentation: IFCI segments its market based on the industry and scale of the project. It serves both large-scale and small-scale industries in various sectors such as infrastructure, power, and manufacturing.
Targeting: IFCI targets companies and projects that require long-term financial assistance for growth and development. Its services are targeted at eligible companies in India that meet certain criteria, including creditworthiness and ability to repay loans.
Positioning: IFCI positions itself as a leading financial institution that provides integrated financial and advisory services for industrial development and growth in India. It emphasizes its experience, expertise, and commitment to supporting the growth of the Indian industry while maintaining high standards of corporate governance, risk management, and ethical practices.
Overall, while traditional STP analysis may not be directly applicable to IFCI, the institution does employ segmentation, targeting, and positioning strategies to serve its target market and achieve its vision.
As a financial institution, IFCI (Industrial Finance Corporation of India) has utilized various marketing campaigns over the years to promote its services and increase awareness among its target audience. Some examples of marketing campaigns by IFCI include
Online presence: IFCI maintains an active website and social media presence to provide information about its services, share updates and insights related to the industries it serves, and engage with its stakeholders.
Events and sponsorships: IFCI has sponsored and participated in various industry conferences, seminars, and events to showcase its services and expertise, and to network with potential clients and partners.
Print and electronic media advertising: IFCI has used print and electronic media advertising to promote its services and reach a wider audience. These advertisements highlight IFCI’s strengths, such as its experience, expertise, and commitment to the growth of the Indian industry.
Direct marketing: IFCI has utilized direct marketing techniques such as email marketing and direct mail to reach out to potential clients and provide them with information about its services.
Collaborations with other organizations: IFCI has collaborated with other organizations in the industry to co-promote their services and offer joint solutions to their clients.
These marketing campaigns help IFCI to position itself as a leading financial institution and promote its services to its target audience.
Social Media Marketing
SEO is an important aspect of digital marketing.
As per SEO ranking, it is said that the number of keywords – below 500 is bad, above 1000 is good, and 10,000+ is amazing. As we can witness, IFCI has 6,166 keywords. Also, the traffic per month is around 17,000. There are a lot of scopes to improve its SEO strategies.
There was no publicly available information to suggest that IFCI (Industrial Finance Corporation of India) had engaged in influencer marketing.
Influencer marketing is a relatively new marketing technique that involves collaborating with individuals who have a large following on social media platforms to promote a brand or product.
However, it’s possible that IFCI may have utilized influencer marketing in a more limited or targeted capacity, or could explore this strategy in the future.
As a financial institution that provides long-term finance and advisory services to industries, IFCI (Industrial Finance Corporation of India) may not have traditional ecommerce strategies like online sales or product delivery. However, there are some ways that IFCI could use ecommerce techniques to support its business:
Online customer portal: IFCI could develop an online customer portal where clients can access their account information, submit loan applications, and manage their loans.
Online payment processing: IFCI could provide an online payment processing system that allows clients to make loan payments online through various payment channels such as debit cards, credit cards, and net banking.
Chatbots: IFCI could implement chatbots on its website to provide instant assistance to clients and answer common queries related to its services.
IFCI (Industrial Finance Corporation of India) did not have a mobile app available for its clients. However, it’s possible that IFCI may develop a mobile app in the future to offer greater convenience and accessibility to its clients.
A mobile app could potentially offer features such as account access, loan application submission, loan payment processing, and instant customer support.
Content Marketing Strategies
Content marketing is a strategic approach to creating and sharing valuable, relevant, and consistent content to attract and retain a clearly defined audience — and, ultimately, to drive profitable customer action.
Content marketing is an important strategy for promoting a business and building a strong online presence. As a financial institution, IFCI (Industrial Finance Corporation of India) could use various content marketing strategies to educate and engage its target audience. Some potential content marketing strategies that IFCI could use include:
Blogging: IFCI could create a blog on its website to provide valuable insights and information related to the industries it serves. This could include topics such as industry trends, best practices, and case studies.
Thought leadership content: IFCI could create thought leadership content such as whitepapers, e-books, and research reports to establish itself as an expert in its field.
Infographics: IFCI could create visually appealing infographics to simplify complex concepts related to the services and industries it serves.
Videos: IFCI could create videos to showcase its services, highlight the success stories of its clients, and provide educational content related to financial management.
Social media content: IFCI could use its social media channels to share its content and engage with its audience.
Conclusion – What’s Special in IFCI’s Marketing?
IFCI could use digital marketing techniques such as search engine optimization (SEO), pay-per-click (PPC) advertising, and social media marketing to promote its services and reach potential clients.
By leveraging these ecommerce strategies, IFCI could enhance its digital presence and offer greater convenience and accessibility to its clients.
However, it’s important to note that financial services are heavily regulated, and IFCI would need to ensure that its ecommerce strategies comply with all applicable laws and regulations.
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We hope that this blog has given you good knowledge about the marketing strategies of IFCI. If you would like to read and learn such insights about other companies, check out IIDE’s Knowledge Portal. This portal covers more interesting case studies.
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