Online marketing drives TAB Capital’s business growth
In a tête-à-tête with Ravi Lalwani, Abhay Bhutada, Director, TAB Capital, shares the details about the branding and engagement strategies adopted by the company:
Dr. Ravi Lalwani: TAB Capital is one of the pioneering NBFCS in India with expertise in digital lending. What are your communication strategies for reaching out to SME and MSME companies?
CA Abhay Bhutada: The core objective behind our marketing activities is brand awareness and lead generation. We are making use of a mix of online and offline communication channels for reaching target customers. The monthly marketing budget is between `20–25 lakhs and out of this `15-20 lakhs is deployed for online marketing with `5 lakhs used for offline initiatives.
We primarily focus on online marketing activities since the core business model is digital. For online marketing, we make use of SEO off-page and on-page initiatives along with search engine marketing and social media marketing. We also use email marketing, content marketing and Google Ads. The major mission behind paid and organic activities is to fruitfully promote our loan products and to increase traffic on our website in tandem with generating newer leads.
We are focusing on print media for brand awareness and publish print advertisements in magazines and newspapers. We also distribute pamphlets along with participating in various events and exhibitions. We have recently advertised in prestigious business newspapers like The Times of India, Business Standard and Economic Times. These print advertisements have definitely sparked an increase in the number of loan applications on our website.
How you are using network marketing to reach your customers?
Tab Capital is an active member of reputed MSME/SME Chambers including SME Connect, MCCIA and CIMSME. As a member of these communities, we actively participate in all SME centric events and exhibitions with a view towards promoting our business.
Share some details about the market research activities of your company? Do you have any market research about your ideal client or your product/business that you can share with us?
The market research activities adopted by TAB Capital are customer surveys, direct mailing, telephonic surveys, etc. Our sales people and customer support team helps us in understanding customer personas through their insights.
What is your longest-term marketing strategy and how are you executing it?
TAB Capital’s longest-term marketing strategy is to position the brand in the minds of our target audience. We have recently hired a reputed branding agency with future plan to hire a PR agency for promoting our latest news and company press releases through multiple media channels in India.
Typically, what are your very short-term marketing strategies and how are they executed?
The short-term goal at TAB Capital is to scale up website traffic and generate more leads. We are continually engaged in boosting our product advertisements on Google, Facebook, Linkedin and other online channels. We presently have 1 lakh followers on our Facebook page as well.
Share some examples about customer experience improvements introduced by your company?
Our entire business model is geared towards enhancing lending experiences of customers. Previously, customers were more dependent on traditional lending institutions for raising necessary funds for their business requirements. However, there was always a long wait for obtaining business funding while approaching traditional funding channels.
Through our digital lending platform, we have created a more convenient and hassle-free lending process by enabling customers to apply online, upload their documents online and thereafter get their desired funds in just 2 working days. Customers no longer have to visit branches of financial institutions to apply for loans.
Abhay Bhutada gives importance to traditional media for enhancing brand awareness