Extensive Marketing Strategy of LIC Housing Finance

Marketing Strategy of LIC Housing Finance

Let us acquire knowledge about the Marketing Strategy of LIC Housing Finance! 

Segmentation, Targeting & Positioning

LIC Housing Finance is primarily a service provider company. Its key business is to lend capital to the different power sectors and the individual.

• Personal loans 
• SME business loans
• Educational loans
• Digital MSME loans

In this era, LIC Housing Finance believes in endorsing technology for financial needs and targeting those sections of the population that are under-prepared by conventional lenders.

LIC Housing Finance 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. 

A segmentation strategy is necessary to comprehend the tastes and preferences of various clientele groups in the market. Comparable demand and need patterns help categorise clients. Techniques for geographic and demographic segmentation are used.

LIC housing uses many targeting strategies to remain competitive and customer-focused.

Since it has established itself as a private bank, it uses a value-based positioning strategy with a focus on its clients and company to offer them services that are affordable.

Marketing Campaign

LIC Housing Home Loan Outdoor Plan – To create awareness about the Housing Finance Scheme for potential home buyers. Most potent outdoor media viz. Unipoles & Public Conveniences were utilised to meet the target. Due to increased awareness, the company registered an increase in the calls leading to increased loan sanctions.

LIC 2014 launched a campaign to celebrate its silver jubilee. It was a TV commercial. 

Social Media Marketing

They are present across all social media channels and are quite active in updating their activities to the public via these channels.

Facebook Followers – 8.6K
Instagram Followers – 1K
Twitter Followers – 8.6K
LinkedIn – 17k+

As we can see, they have a large no. of followers on LinkedIn. LinkedIn is the best place to engage with corporate and financial people. 

LIC Housing Finance frequently posts on social media platforms. The posts are related informational and promotional including festive wishes, special day celebrations, foundation day celebrations, credit and finance tips and guidance etc and many more. The posts are engaging and graphic-oriented content is posted on all.

SEO Strategies 

There is no other method to implement an SEO strategy, and the organisation has done an excellent job on this front. It has a total of 83K+ organic keywords, which is excellent work by LIC Housing Finance’s SEO staff. The site also receives roughly 7M+ organic monthly visitors, which is ideal for a company to convey its goal and vision to its customers.

The website’s traffic has been fluctuating from April 2022 to Sep 2022, but it has not returned to its extremely low level. To put it another way, effective SEO improves your online visibility. This means that the more people that visit your website, the more online traffic you’ll have and the more likely you’ll be able to reach a wider audience with your product or service.

You can also take a look at its Backlinks, which are increasing from 2020 to 2022. Here, we can see a drastic increase in backlinks in Dec 2021 and again from March 2022 to Sep 2022. Also, the overall trend is towards increment of the backlinks with the passage of time.

Influencer Marketing

Since LIC Housing Finance doesn’t get involved in intense marketing, it doesn’t use any brand ambassador or an influencer in its marketing strategy. 

E-Commerce Strategies

In talking about e-commerce strategies, LIC Housing Finance has a website for providing financial services online. They also offer exciting rewards and cashback on fee payments.

Mobile App

Well they have a proper updated and maintained website but they hold no mobile application for the same. 

Content Marketing Strategies 

LIC Housing Finance is very active on social media. Their social media posts content mainly creates the brand’s awareness among people and relates to education,students-life, fees, dreams, goals, etc. They also press releases about their services via Entrackr, The Economic Times, Fintech Futures, The Hindu, etc.

This ends with an elaborative marketing strategy of LIC Housing Finance. Let us conclude our learning below from the marketing strategy of LIC Housing Finance.

Conclusion – What’s unique in LIC Housing Finance’s 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 LIC Housing Finance has given you a good insight into the company’s marketing strategies.

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