In a recent article, we learned about the marketing strategies of coolberg which is India’s premium non-alcoholic beverage. We’d learned about the marketing mix, as well as its marketing strategy and campaigns. Today, we’ll go through the in-depth marketing strategy of Incred in detail in this blog.
The purpose is to learn and acquire insights into Incred’s transition from ordinary non-banking finance to India’s reputed non-banking finance. Incred aim is to gain and nourish a culture of continuous innovation in technology, data science and deep financial expertise and offer every customer the best experience with profitable products.
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We will learn the entire marketing strategy of Incred by the end of this blog. Before talking about it, let’s begin with the company’s story, target audience and digital presence.
About Incred – Company Overview
Incred finance is one of the Indian digital lending companies (NDFC) based in Mumbai that focuses on new-age company data science, technology and modern risk analytics to bring credit for implausible India. Incred streamlines the process of lending with a keen focus on serving its borrower’s erratic needs and circumstances. Incred kick-off by the young banker Bhupinder Singh (ex-head of the Corporate Finance division of Deutsche bank) in 2016.
Incred began to provide personal loans, education loans, SME business loans, and digital MSME loans in 2017 with total funding of 500-600crore from the different investors and companies. Former co-CEO of Deutsche bank Anshu Jain also joined the Advisory Board of the company. The Mumbai based finance started with the aim to serve world-class financial services by believing in traditional ways of lending through hi-tech.
|Market Share/ Revenue||The estimated annual revenue is currently 4 billion Indian rupees.|
|Vision||Establishing trustworthy, transparent and highest integrity financial institution.|
|Tagline||Borrow with confidence|
Marketing Strategy of Incred
Segmentation, Targeting and Positioning
Incred finance is primarily a service provider company. Its key business is to lend capital to the different power sectors and the individual. Incred is based on 4 categories:
- Personal loans
- SME business loans
- Educational loans
- Digital MSME loans
In this digital era, Incred believes in endorsing technology for financial needs and targeting those sections of the population that are under-prepared by conventional lenders.
Incred is well-positioned in the market to gratify the needs of the customers as it offers unique services to its customers. It has been walking the long road keeping up with its competitors.
The food delivery service and restaurants were one of the worst segments during the pandemic. However, in a few months, we can see a huge comeback from the industry. Incred and Zomato tie-up gave financial assistance to the down-and-out cash businesses for meeting their business growth and maintaining their working capital needs.
This campaign was one of the most successful campaigns of Incred where 50,000 businesses working with Zomato were supported to overcome any kind of credit.
Are you interested in podcasts?
Podcasts are the major form of digital content. Being on a digital platform Incred has utilized podcasts in the marketing campaign. Financial to health Incred has to dredge out every topic to help their customers and the general public.
Incred podcasts have helped lots of people in different aspects. If you are interested in the podcast then you can visit: https://www.incred.com/podcasts/
Incred introduces an exciting offer for the women entrepreneurs who are willing to open the restaurant. They offer a flat 1% processing fee on restaurant loans exclusively for women entrepreneurs. This offer was for a limited time, but it helped lots of women to start up their own businesses.
Social Media Marketing
Incred can be found on Facebook, Linkedin, Twitter, Pinterest and YouTube. Incred is more active on LinkedIn with 76k followers. Educational posts, promotional and product launches are posted on the LinkedIn account of Incred. Podcast videos are posted on their youtube account.
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 see that Incred has 9478 organic keywords and it’s considered as good. That means the digital marketing of Incred is gaining a good number of insights.
Also, the traffic per month is around 10K+ which is known as average. Hence, Incred still needs improvements in its SEO strategies with working hard enough to keep the brand soaring in the Google organic SERP results.
From the start, Incred has collaborated with many online apps for their marketing purpose. Influencers can be a person who has many followers on Instagram or celebrities or the head of the company themselves. Incred marketing is done by Bhupindra the CEO of Incred and other cooperative influencers.
Incred is a digital platform and it has a website from where you can easily go through the lending process. Customers can apply for loan applications at the minimum cost and get faster responses.
Incred got the mobile application on both android and ios phones. To get access to the app customers just need to sign in with their registered mobile number. Sitting on the couch taking a sip of tea you can get a loan from the Incred app.
Content Marketing Strategies
Incred shares information about their business through different means. It shares opinions and thoughts on certain topics through blog writing. Incred has created a personality for their company and made the business more credible through blog writing.
If you are interested in reading blogs here is the Incred blog page link: https://www.incred.com/blog/
This ends our elaborative marketing strategy of Incred. Let us conclude our learning below.
Conclusion- What’s Unique in Incred Marketing?
The major problem with the marketing strategy of Incred, as we witnessed, is their lack of marketing efforts. Working on the company’s other social media platforms is something the corporation is interested in. They have been looking for their official site but ignoring other social media sites where the public is more active. They should pay more attention to hashtags, the appearance of their postings, customer involvement, and content on their websites to increase their reach and increase the number of people who engage with them. Only a few people are aware of Incred to date.
As we all know, digital marketing has taken a drastic change because of pandemics that affected every business. As per digital marketing statistics, about 60% of the population of the world uses the internet. It rose by 20% in the past two years due to the pandemic with many businesses going online. An established company’s image is everything. The right campaign strategies can make or break a company’s brand image. Through digital marketing, effective campaigns can be designed and the scope of fixing any glitches immediately is there.
With the increasing importance of digital marketing, learning about the growing field is an important step. If you would like to learn more and develop skills, check out Online Digital Marketing Course to learn more. Or else you can attend one of our free online masterclasses held by IIDE’s CEO, Karan Shah which will give you a glimpse into the world of digital marketing.
We hope this blog on the marketing strategy of Incred has given you a good insight into the company’s marketing strategies.
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