In a recent article, we learned about the SWOT analysis of KIOCL Limited. Today, we’ll go through the in-depth marketing strategy of KIOCL in detail in this blog.
The purpose is to learn and acquire insights into the KIOCL transition from ordinary PSU by the Government of India to MINI-RATNA to now going ahead towards becoming a MAHARATNA. KIOCL aims to create and nurture a culture of continuous technology innovation, through their R&D, so they can get a good quality product at a low price.
This new era is all about being digital and learning new digital techniques. If you are interested in learning more about marketing then you can attend a Free Masterclass on Digital Marketing by the CEO and founder of IIDE, Karan Shah.
We will learn the entire marketing strategy of KIOCL by the end of this blog. Before talking about it, let’s begin with the company’s story, business, and digital presence.
About KIOCL – Company Overview
KIOCL Limited (Formerly known as Kudremukh Iron Ore Company Limited), Corporate Office in Bengaluru, Karnataka. A Crown Jewel under the Ministry of Steel, Govt. of India was formed on 2 April 1976 for the Beneficiation and Mining of low-grade iron ore at Kudremukh, Karnataka, India.
KIOCL has experience in operating Iron Ore Mining for over 4 decades, Iron–Oxide Pelletisation, and Beneficiation in the country. KIOCL is managing an Iron-oxide Pellet Plant with a capacity of 3.5 MTPA, Blast Furnace Unit to manufacture 2.16 lakh tonnes per annum of Pig iron at Mangalore, Karnataka.
KIOCL produces both DR-grade and BF-grade pellets with excellent chemical & physical specifications to suit blast furnaces and direct reduction plants.
The PSU has taken up many initiatives like handling both Haematite and Magnetite types of ores through in-house R&D, sourcing from both domestic and global markets through long-term contracts, 100% utilization of coastal transportation, and Indigenization of equipment/spares, etc.
The production and profits of KIOCL are also increasing rapidly. Their revenue is rapidly growing as we can see in Q1 of 2022, their revenue has increased by 139% and is now at ₹1,042.05 crores and profits are also increasing to ₹ 215.92 crores after tax. Production of KIOCL has also increased by 18% and now it was at 6.03 lakh tons of pellet production from last year’s same quarter at 5.11 Lakh tons of pellet production.
As we know our country is developing. So we need iron and steel products to manufacture Factories, Roads, Houses, etc. For that, we need iron pellets. So KIOCL is increasing its production and mining activities. So that it can meet the demand of the market and simultaneously increase its Profits & Revenue.
|CEO||Sri T. Saminathan|
|Director (Finance)||Sri S. K. Gorai|
|Industry||Mining, Iron Making|
|Market Share/ Revenue||Rs.1042.05 crores in 2022 first quarter|
|Vision||To come up as a world-class mining company with the highest international standards of quality, productivity, technological & environmental excellence and also as a leader in the Beneficiation & Pelletisation Industry in India.|
|Tagline||Ecology our Mission; Obsession|
Marketing Strategy Of KIOCL
Let’s learn about the Marketing Strategy of KIOCL! And how KIOCL carries the marketing campaign etc.
Segmentation, Targeting, and Positioning
Over the years the KIOCL has gained tremendous experience in the mining field and has also done very good research and development to proceed further, it also explores other markets for selling their products.
The company also engaged in many mining projects minerals in the years like
- Nellibidu Iron Ore Deposit, Chikmagalur (Dist), Karnataka: 2370m (approx) of drilling.
- Ongole Iron Ore Deposit, Andhra Pradesh: 1381m (approx) of drilling.
- Khandadhar Iron Ore Deposit, Odisha: 2975m (approx) of drilling.
and also constantly exploring new opportunities for mining like Geological Mapping works of Nemakal Iron Ore Deposit, Andhra Pradesh are to be done after that they will start mining which is recommended for 3000m.
They have a target market for pig iron and iron pellets, from which wrought iron in finery forges, later puddling furnaces, and today mostly steel. As we know today, the steel products market is increasing every day so they have tremendous opportunities to sell their products in the International market and Indian market also.
KIOCL LTD. is said to be a good quality company based on its data when they are listed it shows a growth of 1,741.36% that is just in 5 and a half year of its listing on the Indian Stock Market that is National Stock Exchange, New Delhi & Bombay Stock Exchange, Mumbai and it is also backed by Government of India and it is a profit-making company. So there is very less chance of the company getting immersed. Also, the company is now taking part in different projects in different fields and expanding in the international market.
KIOCLs do not have a great online presence even though they haven’t conducted any kind of campaign. They don’t conduct any kind of advertisement campaign to promote their Mining company.
KIOCLs can use the same marketing techniques as their competitors. 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.
KIOCLs can launch such advertisements and other media campaigns to increase their presence in India and other foreign countries.
Social Media Presence
They have maximum followers on their Twitter profile, along with regular postings regarding their activities and celebrations of various festivals. They are also active in terms of retweeting government initiatives. Most of their content leans upon their projects, and festivities and has a pinch of informational content keeping users up to date with their PSU.
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 the company has only 2,940 organic keywords and it’s considered as good as we can know. That means the online or digital marketing of KIOCL is not gaining a good number of insights.
Also, the monthly traffic is around 13,052, known as base. Hence, KIOCL needs improvements in its SEO strategies while working hard enough to keep the brand soaring in the Google organic SERP results.
As of now, KIOCL is not doing any Influencer Marketing Campaign as they are now in the B2B business or an iron pellets business, so they don’t want it now. But if they want to expand their business in the future in industries like TMT Bars, they have to do campaigns like one of their competitors, SREE METALIKS, with Vrajesh Hirjee to promote their SM TITAN TMT BARS.
They don’t have an e-commerce website as we can see they are in the B2B business of Iron Pellets. So they also don’t need a website like that. They have a website for their company on which they also post tenders, but for other selling, they don’t have.
They don’t have a mobile app for their work or anything they do. But they can have a mobile app in the future if they want to expand their business in the TMT Bars business. As they can make apps for placing orders of their bars by their dealers, as many companies are doing at this time.
Content Marketing Strategies
They put out social media posts on mostly every occasion and keep users updated with their projects and works.
They also keep updating meetings with famous personalities and other things.
The company also keeps updating about the environmental work on their social media because from time to time they get allegations of deprecating the environment.
This ends our elaborative marketing strategy of KIOCL. Let us conclude our learning below from the marketing strategy of KIOCL.
In the marketing strategy of KIOCL, we saw that Kudremukh Iron Ore Company Limited is a Government PSU, which was opened with the sole motive of starting low-grade iron ore mining in Karnataka has now doing mining in many parts of India individually or with partnership and selling their products not only in India but also worldwide.
Digital Marketing is extremely important in today’s age. 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 IIDE’s 4 Month Digital Marketing Course to learn more.
We hope this blog on the marketing strategy of KIOCL 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 KIOCL, check out our IIDE Knowledge portal for more fascinating case studies.
Thank you for taking the time to read the marketing strategy of KIOCL, and do share your thoughts on this case study of the marketing strategy of KIOCL in the comments section below.