In our last piece, we learned about the extensive marketing strategy of HDFC. The marketing strategy of Shriram City Union Finance Company – the foremost non-banking financial services provider in India will be discussed in this article.
Are you wondering how Shriram city union finance has succeeded and performed top in all the Indian NBFCs?Here is the detailed analysis and study of Shriram City union finance we will explain to you all about Shriram City union finance, what do they do a brief introduction and what are the ways Shriram City union finance has utilised to grow in their segment exponentially as compared to other NBFCs in the Indian market.
Marketing is an element of a company’s DNA that has the power to make or break it. As users moved to the digital space, marketing followed them from all over the world. The CEO of IIDE, Karan Shah, offers the Free MasterClass on Digital Marketing 101, which is a great resource for those interested in cutting-edge digital marketing.
We shall discuss the marketing strategy of Shriram City Union Finance in detail in this article. Let’s begin our exploration of the brand by learning about its past, target audience, and online presence.
About Shriram City Union Finance –
Source – Financial Express
One of the top NBFCs in the retail finance sector, Shriram City Union Finance Limited was founded in 1986 and provides on-time borrowings to its clients while offering value to its stakeholders. With an AUM of Rs 33,186 crores as of March 31, 2022, the company had 986 branches in India.
The company offers personal loans, business loans, loans against pledges of gold, loans against property, and loans for the purchase of two-wheelers and commercial vehicles. Shriram Housing Finance Limited, a subsidiary of the Company, is a housing finance business authorised by the National Housing Bank (NHB). The Company’s main business is making loans for the acquisition or building of residential space as well as loans secured by real estate.
A non-banking financial institution, Shriram City Finance has been in business for more than 45 years. Through its nationwide network of 947 locations, it can offer funding to SMEs in a way that is specifically tailored to their needs.
Quick Stats –
|CEO||Yalamati Srinivasa Chakravarti|
|Industry||Non-banking financial corporation|
|Market Revenue||6,530.39 Cr (2022)|
|Vision||Serving the underserved. Creating value at the bottom of the pyramid.|
Marketing strategy of Shriram City Union Finance –
Now that we have a good understanding of the business, let’s move on to the marketing strategy of Shriram City Union Finance.
Segmentation, Targeting and Positioning
- MSME Financing
- Gold Loan
- Personal Loan
- Fixed Deposits
- Auto Loans
- Home Loans
- Other Loans
- Two-Wheeler Loans
- SME Loan
Shriram City Union Finance all the earning class and aged class in need of loan services.
Shriram City Union Finance Limited is the leading provider of financial services in India with a focus on retail finance.
- Merger Campaign
With the goal of fulfilling a billion dreams, Shriram Finance, a brand created via the merging of two significant non-banking financial organisations (NBFCs), Shriram Transport Finance Company and Shriram City Union Finance, launched its new marketing campaign. Over the past few decades, the two businesses have strived to provide underprivileged and credit-starved Indians with financial assistance. To commemorate this milestone, Shriram Finance has unveiled a brand campaign that highlights its commitment to assisting millions of Indians with their dreams for a prosperous life through self-employment and small companies.
Shriram City Union Finance does not use many marketing campaigns to promote its services. Usually, Non-banking Finance corporations (NBFC) use the following methods to promote their services.
Through online mode: In the technologically advanced environment of today, where everyone has access to internet-based services, this method of marketing is most effective.
Through advertising: This can be done on a variety of media, including radio, television, several websites, and other online media platforms.
The NBFCs work together with other businesses through the alliance to broaden their consumer base and grow their business. These partnerships can help NBFCs develop more effective marketing plans.
Social Media Marketing
- Instagram – 978
- Twitter – 90
- LinkedIn – 32K
Shriram City Union Finance is the most active on LinkedIn. Other than that it has no good presence on any other social media platforms. On LinkedIn, they usually post promotional content about the services of the company.
Source – UberSuggest
According to SEO rankings, the number of keywords should be between 500 and 1000, with 10,000 or more being extremely high. They have no organic keywords, as can be seen, which is really awful.
Additionally, 20,000 or more visitors each month is regarded as good traffic. As can be seen, they receive 0 visits each month, which is dismal. Shriram Union City Finance must therefore improve its SEO strategies while also exerting sufficient effort to keep the brand climbing the Google organic SERP results. If you’d like to master excellent SEO strategy, an SEO certification course may assist you in doing so.
Shriram City Union Finance does not use any kind of Influencer marketing.
As for E-commerce strategy you can apply for the loan on their official website by filling out a form and some formalities. This helps their audience to apply from anywhere and makes it convenient.
The official app for Shriram City Union Finance is called “Shriram City.” Customers can instantly access their loan accounts, regardless of the type of loan, as well as deposits, using the MyShriram mobile app, which they can access from any location. On Google Play Store, this app has 3.5 reviews and 10L+ downloads.
Content Marketing Strategies
Shriram City Union Finance is not so good at content marketing as it is not much active on social media except LinkedIn. Apart from that, they post some press releases and news on their website for the knowledge of their audience. Along with that, there are some known websites like the economic times and bankbazaar that publish blogs about them.
This comes to the end of the blog. Let’s summarise the facts of the marketing strategy of Shriram City Union Finance.
What’s Unique in the Marketing Strategy of Shriram City Union Finance?
According to Shriram City Union Finance Company’s marketing plan, all parts of India are showing their love and support for the company. They have less competition because they are the Shriram group’s flagship company in India, which is well-represented in distribution, stock broking, consumer finance, and life and general insurance. Shriram City Union Finance continues to work toward growth and success inside the virtual space despite the loss of its virtual advertising and marketing strategies.
The COVID-19 pandemic has wreaked havoc on the entire globe, forcing us to start over every day and modify how we live and go about our business. Running a business from home, changes in consumer behaviour and changes in customer desires have led to a significant transition in virtual advertising and marketing that is influencing how the business functions.
Digital advertising stats state that the internet is used by more than 60% of the industry’s workforce. Due to the pandemic and the move of many businesses online, it has grown by 20% in the last two years. This quick change has compelled organisations to reconsider how teams might connect and work together to attain organisational goals.
Using the best advertising methods can either strengthen or weaken an organization’s brand image. Digital advertising allows for the creation of successful campaigns and the direct identification of any shortcomings.
The first step is to educate yourself on the rapidly expanding world of virtual advertising. Check out IIDE’s 4 Month Digital Marketing Course or 11- Month Digital Marketing Course if you want to learn more and develop your skills in this area.
We hope that this blog post about the marketing strategy of Shriram City Union Finance has given you a priceless understanding of the company’s marketing methods.
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