Our marketing strategy is focused on creating a strong community connect. We utilise multiple channels for digital communication with granular targeting to win customers across geographies.
We have launched several initiatives in recent years to build the brand of our Bank and increase recognition in the communities we serve. These initiatives include Equitas Gurubhyo Namah, Equitas Tour A Bank, Equitas Go Green, Equitas Banking Golu, and Doctor on Wheels; these initiatives have typically been centred around religious festivities and other occasions. In addition, we believe our ongoing social initiatives in certain communities have resulted in strong brand equity for the ‘Equitas’ brand. We have done on an average 1,600 activity on month on month basis in branch catchment.
We did a print camping on the occasion of completing three years of banking operations with a view to communicate to all the stakeholders about our presence, spread and size through placing front page advertisement in The Times Of India, Economic Times, The Hindu and Business Line. As brand awareness is the primary step for a building successful sales funnel. We are creating brand awareness in the branch locality using consistent brand building with specific medium at-least for tenure of 6 months to increase brand visibility and lead generation at select metro locations like Chennai, Coimbatore, Hyderabad, Delhi and Chandigarh.
As a digital savvy Bank, we make use of digital marketing as our customer acquisition strategy through SelfeSavings – Online Account Opening Feature and SelfeFD – standalone FDs that can be booked from any bank account online. Both these products were developed understanding the market necessity with a seamless experience.
Our social media channels help us reach and connect to millennials and working professionals. We are active on all social media platforms and create content that are relevant and build engagement. Our digital impressions and engagement have grown multifold for the last financial year. Our digital marketing efforts include Affiliate Marketing, Influencer Outreach, Search Engine Optimisation, Search Engine Marketing and social Media. The increased engagement on Social media has led to more people visiting our website, helping us see a growth of 60% new prospects, who are first-time visitors to our Bank’s website.
We have also implemented marketing automation for customer onboarding/cross-sell through emailers, SMS and Push Notification. We have also initiated virtual bank concept to activate all dormant and inactive customer through D2C campaigns. This automation helps us identify products that are best suited for each individual basis their lifecycle, behaviour and relationship with the bank. For the current financial year, our strategy is to make best use of Digital to Go Local with focused efforts on branch locations.
We are also working on creating more vernacular communication, visuals and multimedia content to drive engagement to our social platforms. As a brand, we are also looking at creating videos establishing our core values and stories of people whom we have transformed over the years through creative story telling that can easily connect with viewers and build engagement to position our brand, its values and products.