“Rahul Dravid will play a lead role in shaping the narrative for Shriram Finance”

Shriram Finance, the flagship company of the Shriram Group, recently announced the onboarding of former Indian cricket team captain and head coach, Rahul Dravid, as their brand ambassador. In an exclusive interaction with Adgully, Elizabeth Venkataraman, Executive Director – Marketing, Shriram Finance, speaks at length about the company’s association with Rahul Dravid, upcoming campaigns, and the creative process behind the campaign with Dravid. Venkataraman also speaks about Shriram Finance’s initiative to launch a Two-Wheeler Loan Eligibility Voucher campaign, the creative process behind it, regional marketing partnerships with two-wheeler OEMs, and more.

Shriram Finance recently announced Rahul Dravid as its brand ambassador. What inspired this decision, and how does it align with the company’s persona?

Rahul Dravid embodies trust, dependability, reliability, and integrity – all values that align with Shriram Finance. He has been an enabler, much like how we have enabled communities across India. We believe Rahul is the perfect ambassador to help us tell our story and make Shriram Finance a household name.

What role will Rahul Dravid play in upcoming campaigns, and how will these campaigns reach different regions and consumer demographics?

Rahul will play a lead role in our future campaigns, helping to consolidate our brand story, which has been relatively quiet for years. We plan to use a multilingual and multimedia strategy, given our strong presence in tier two and tier three markets. Rahul’s involvement will help us engage with diverse demographics across India.

Given Rahul Dravid’s leadership and iconic status, how do you think his presence will impact the company, especially among small business owners and the MSME sector?

Rahul Dravid is an icon who embodies trust, reliability, and dependability – qualities that resonate with our core audience, including small business owners and MSMEs. His association with us will help unite our diverse consumer segments and reinforce the values that Shriram Finance stands for.

Are there any CSR or community-focused initiatives planned with Rahul Dravid that align with Shriram Finance’s mission?

We are still in the planning stages of potential CSR initiatives involving Rahul Dravid. Once we have more concrete plans, we’ll share the details.

Could you walk us through the creative process of the campaign with Dravid and did you partner with any creative agencies?

The creative process always starts with the consumer – understanding their needs and insights. Rahul Dravid will play a lead role in shaping the narrative, and we’re working through the specifics. Our partnership with him is still in its early stages, but we’re excited about what lies ahead. We have onboarded Leo Burnett as our agency on record. That process has already been completed.

Shriram Finance also launched a Two-Wheeler Loan Eligibility Voucher campaign. What was the primary motivation behind launching this campaign, especially during the festive season?

During the festive season, the demand for two-wheelers typically rises as it is a popular time for purchases in India. When we talk to consumers, we often notice that they are unsure about how much they can afford before selecting a bike. They might choose a bike and then go back to figure out financing, which can create friction in the purchasing process. With this campaign, we wanted to reorder the process by making it simpler for consumers. Now, they can understand their loan eligibility first and then choose the bike that suits their budget. This aims to reduce the friction we’ve identified from consumer feedback.

How does the Loan Eligibility Voucher initiative differentiate Shriram Finance from its competitors in the two-wheeler financing market?

Our focus is more on addressing consumer needs than competing with others. Yes, competition will always do what they think is best, but for us, it’s about understanding the consumer’s pain points and creating solutions for them. Our efforts are entirely based on the consumer perspective, and we consistently engage with them to improve their experience.

Could you elaborate on the multilingual digital campaign and the role of regional marketing across the twelve states? What kind of impact are you expecting from these localized efforts?

Shriram Finance has a strong presence in Tier 2, 3 and rural markets, with half of our distribution being rural. Therefore, being multilingual is essential. We don’t just think in Hindi, but in multiple languages, which helps us authentically connect with local consumers. The campaign is both digital and on-ground, with efforts to engage with consumers through regional languages. We believe this multilingual approach will help us better communicate the benefits of our voucher during the festive season.

Could you share insights on the creative process behind the campaign? Was there any collaboration with creative or digital agencies?

The creative process begins with research – understanding consumer insights, identifying opportunities, and addressing challenges. We rigorously follow this process, testing concepts before taking them to market. For this campaign, we worked with Simple Advertising, a long-standing partner that understands both our brand and the regional nuances well. We’re optimistic about the campaign’s potential impact.

Could you talk about the partnerships with two-wheeler OEMs and how they enhance the overall consumer experience?

Our business team actively manages partnerships with two-wheeler OEMs. We maintain a continuous dialogue with them to ensure a strong, mutually beneficial relationship. A deeper engagement with OEMs leads to a better understanding of consumer needs and enhances the impact on the ground.

In addition to digital efforts, Shriram Finance is organizing on-ground exchange loan melas across various states. What kind of response are you expecting from these efforts?

On-ground events like exchange loan melas are very natural in the two-wheeler buying process. These events allow consumers to explore multiple two-wheeler options and engage directly with our sales and business teams. These interactions create purchasing preferences, and we anticipate a high impact from these efforts, though it’s too early to report results.

Could you elaborate on the influencer campaign and the role influencers play in promoting financial services like two-wheeler loans?

Influencers have their own strengths – followers who trust them. When they take on a brand, they bring authenticity, which is crucial for building trust with consumers. I believe in the influencer strategy, but it must be genuine and credible to work effectively. It’s up to us as marketers, and the influencers, to create that ecosystem of trust.

Also Read: Shriram Finance welcomes Cricket Legend Rahul Dravid as Brand Ambassador