In our previous article, we have learnt about the SWOT analysis of Nava Bharat Ventures. In this article, we are going to learn about the marketing strategy of Nava Bharat Ventures – India’s leading manufacturing company.
The objective is to help you gain insights into Nava Bharat Ventures’ transition from a ferroalloy manufacturer to becoming one of the most respected and leading Multinational companies.
Marketing is the art of advertising a company’s product in such a way that it is visible to a maximum number of people and reaches its potential buyers or target audience. As the World is going Digital day by day for its advantage, how can Marketing stay back?
Marketing has also followed them in the form of Digital Marketing. If you want to gain more insights on Digital Marketing, do check out Free Masterclass on Digital Marketing by Karan Shah, Founder and CEO of IIDE.
We will go in-depth about the marketing strategies followed by Nava Bharat Ventures in this blog but let’s first understand the company, its story, target audience and digital presence.
Nava Bharat Ventures is India’s leading Ferroalloys manufacturer established in 1972. Today the venture is a multinational company, operating in India, South East Asia and Africa. They are a diverse group working in metal, energy, mining, agribusiness, and healthcare businesses. It also employs more than 1,000 people in operations across two continents. Currently, Nava Bharat Ventures produce and supply more than 200,000 tons of ferroalloys each year. Operates several 743 MW power plants for self-consumption and sales. The company also works with hundreds of sugar cane farmers to produce and process sugar and ethanol. And in 2017, their investment expanded around healthcare services.
Nava Bharat Ventures was promoted by Dr D. Subba Rao, Sri P.Punnaiah and Sri A.S.Chowdhri in 1972, Nava Bharat Ferro Alloys Limited (NBFA) commenced operations in 1975 with the manufacture of ferrosilicon at Paloncha in Andhra Pradesh, a state in Southern India. To better represent the diversified business activities, the name of the company was changed to Nava Bharat Ventures Limited (NBV) in July 2006.
|Area Served||India, South East Asia and Africa|
|Industry||Ferro Alloys, Energy, Operation and Maintenance, Mining, Agribusiness and Healthcare|
|Market Share/ Revenue||949.92 Crores|
|Vision||To continue to grow as a diversified multinational, sustainable and people centric organisation|
Let’s begin digging deep into the genuine Marketing Strategies followed by the Company with its STP:
Segmentation, Targeting and Positioning
Nava Bharat Ventures are segmented into different ways as per the different aspects. Based on geographical terms, located in India, South East Asia and Africa. It’s also categorized into Ferro Alloys, Operation & Maintenance, Energy, Mining, Agribusiness and Healthcare industries.
The target audience of Nava Bharat ventures is businesses. They are serving the country’s industrial consumers or companies. Like, In their ferroalloys company, they produce manganese and chromium alloys, which is an essential part of steel used in several heavy industries such as automotive, railways and construction, and the manufacture of stainless steel consumer goods.
They are positioned as No. 1 for their service in various industries in the local, state, national, and international markets.
The company performs Corporate Social Responsibility (CSR) programmes for Sustainable Development. They believe that “aspirations as a business go hand-in-hand with the aspirations of the communities”. This way they have been engaging and serving for more than 45 years now. It’s been more than just a requirement for them, central to their operations as well as core values and became an integral part of their growth as MNC. They focus on 3 crucial aspects – Health, Education, and Livelihood.
Promoting Healthcare includes preventive healthcare services and awareness programmes. They are expecting to spend around 1 Lakh on this.
Improve the quality of education including special education by providing support. They have a set budget of around 1.8 Lakhs.
Skill Development Programs for vocation skills or livelihood enhancement projects and employment generation programs especially for women. The budget set is 153.7 lakhs
- Other Programs
Rural Development programs and projects. The approximate budget is 13.3 Lakhs. The total combined proposed budget is 460 Lakhs around.
Social Media Marketing
The company can be found only on a few social media platforms which include –
- Facebook – 4.4k likes and follows
- Linkedin – 3.2k followers
The company is not very much active on social media. They only have a FB page and a Linkedin profile, out of which they are more active on Linkedin.
They are mostly posting Festive pictures only, which is not very beneficial for the company in terms of marketing their product. They should start posting some engaging and informational content.
As per SEO ranking, it is said that the Number of keywords – below 500 is bad, above 1000 is average, and 10,000+ is amazing. As we can see that Nava Bharat Ventures has 1095 organic keywords and it’s considered average. That means the digital marketing of the company is not doing that great.
Also, the organic monthly traffic is 7,247 which is in the middle. Hence, it needs improvements in its SEO strategies while working hard enough to keep the brand soaring in the Google organic SERP results.
If you want to learn more about SEO strategies to rank your website higher and gain more organic traffic, check out this Online Search Engine Optimization Course by IIDE.
It doesn’t contribute to influencer marketing strategy as they believe in their case, the other organizations act as their consumers and there is no need to follow influencer marketing strategy here to promote it.
What we believe is that a proper analysis should be done to use this strategy to target their business customers. Also, an eye should be kept on their competitors to get a rough idea about what they are doing in the market or the strategies used by them.
Nava Bharat Ventures does not follow an E-commerce Strategy. They do not have an online selling portal as they are a B2-B Company manufacturing products that cannot be sold directly to consumers. But, they do have an official website containing all the information regarding the company on it including statistics of the company, financial reports, etc.
Again, Considering this is a B2b industrial-based Company different from B2C, there is no need to have its Mobile Application as everything differs from its Target audience to the communication.
Content Marketing Strategies
There is no proper content marketing strategy followed at Nava Bharat ventures website to perform good SEO or to rank it on top of SERP. They have their own sales team to do the work. There is no such blog column present on their website for informational content. They also Press release only their Financial Reports at the end of the Financial year.
This ends our elaborative marketing strategy of Nava Bharat Ventures. Let us conclude our learning below from the marketing strategy of Nava Bharat Ventures.
From the above-gathered information, we can see that Nava Bharat Ventures is not utilizing the power of Digital Marketing in its favour. Considering it a B2B Company, many Strategies become irrelevant to it, but some remain like Content Marketing strategies that need to be followed effectively.
As the digital space is experiencing a boom in today’s world, a company needs to do better digital marketing.
Check our Online Digital Marketing Course if you want to learn more and improve your skills. 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 Nava Bharat Ventures 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 Nava Bharat Ventures check out our IIDE Knowledge portal for more fascinating case studies.
Thank you for taking the time to read the marketing strategy of Nava Bharat Ventures, and do share your thoughts on this case study marketing strategy of Nava Bharat Ventures in the comments section below.