A one-size-fits-all approach can’t work in finance planning: IIFL CMO Manav Verma

In this interview with Adgully, Manav Verma, Chief Marketing Officer, IIFL, talks about the latest campaign, different types of loans offered as part of the campaign,  transparency and fairness in dealings with customers, the role of marketing and communication in creating awareness, etc. Excerpts:

How is IIFL Finance planning to reach out to over 350 million consumers across India with this campaign?

The new IIFL Finance brand campaign aims to reach out to each and every aspiring loan-seeker who finds it difficult to obtain a loan. The campaign is aimed at the unbanked and underbanked segment of customers with growing credit needs. We aim to be the preferred choice for loan seeking customers.

What are the different types of loans that are being offered as part of the campaign, and how are they tailored to meet the diverse needs of consumers?

IIFL Finance has multiple loan offerings like gold loan, home loan, business loan, Personal loan and microfinance loan. We firmly believe that the only way to do business is to put the customer in the centre of everything that we are doing. We at IIFL Finance understand customer wants and needs and cater to them accordingly. In this day and age, a one-size-fits-all approach just cannot work! Every customer is different, and hence, we offer types of loans. Not just types of loans, but we offer different variants in each loan category so that the customer can choose the best fit.

How does the company ensure transparency and fairness in its dealings with customers?

At IIFL Finance, we truly believe in the values of honesty and transparency keeping the customer above all else. That is why IIFL Finance does the ‘Seedhi baat’ by keeping our loan products simple, ensuring transparency and displaying unwavering commitment to the customer relationship. Because a financial solution makes sense in the most uncomplicated way, that is the ‘Seedhi baat’ way.

With the increasing use of digital platforms for financial transactions, how has IIFL Finance adapted to this trend and what steps have been taken to ensure a seamless and secure experience for customers?

IIFL Finance has always been a technology-first organisation, and we take immense pride in ensuring that all our products are equipped with the right technological advancements that ease the life of our customers. Our insta loan on WhatsApp is one such example, wherein we are industry first providing business loans on WhatsApp. Just a simple ‘Hi’ to our WhatsApp number ‘9019702184’ can get a business loan. The process is completely digital, with world-class systems in place that provide a seamless experience. 

How have marketing and communication played a role in creating awareness and driving adoption of the “Sapna Aapka Loan Hamara” campaign?

The ongoing brand campaign is a well-thought 360 integrated communication campaign that has two main objectives – creating awareness about IIFL as a trustworthy NBFC brand with a diverse loan offering, and increasing the product consideration of the individual products. The large-scale country-wide marketing campaign is running across TV, digital, cinema, radio, print, local cable, and many other mediums that are consumed by our target group with growing credit needs. It is the combined effect of multiple media vehicles working together to truly drive our communication ‘Sapna Aapka Loan Humara’ forward.

How is the campaign enabling women’s financial empowerment and the unique strengths and abilities that they possess?

At IIFL Finance, we have always believed that women are the true super heroes of our nation. The entire ‘superpower’ gold loan campaign is the result of this thought process that enables women to realise their true financial superpower – their GOLD, which can be used when a monetary requirement arises. We are simply acting as a medium to help them realise their superpower and encourage them to participate by contributing towards prosperity and growth.

How does IIFL Finance position itself to adapt and thrive in this competitive environment?

In a market like ours, where all products are at parity, the key point of differentiation becomes the experience that a brand can offer. At IIFL Finance, we strive to deliver the “Seedhi Baat” experience, that is, an honest and transparent approach in all our dealings. This experience is what sets us apart from others in the market. Judging by the rapidly expanding base and the love that our latest campaign has received, we can confidently say that the customers are also enjoying and appreciating the “Seedhi Baat” experience.