About the Client
IDFC FIRST Bharat Limited (IFBL), a subsidiary of IDFC FIRST Bank, has a mission to provide vital financial services to rural and semi-urban populations where accessibility to such services is minimal. Originating from the strong foundation laid by Grama Vidiyal in 1986, IFBL has undergone significant transformations, including a pivotal merger between Capital First Limited and IDFC Bank. Today, the company serves over 2.5 million households across 10 Indian states, offering an array of loan products and insurance services.
Faced with the challenge of creating awareness for its Gold Loan offer, IFBL turned to AD Vantage Integrated Marketing for an innovative solution that would reach potential customers effectively and efficiently.
To enhance the brand awareness of IFBL’s Gold Loan product within a 2 km radius of its 209 branches situated in Tamil Nadu, Kerala, Karnataka, Andhra Pradesh, Telangana, and Madhya Pradesh.
Residents located within a 2 km radius of 209 IFBL branches in the aforementioned states.
The target areas consisted mainly of rural and semi-urban communities where traditional advertising mediums are less effective.
The Gold Loan market is saturated, making it crucial for IFBL to distinguish its offer from competitors.
IFBL required a cost-effective method to promote its services without compromising the quality of outreach.
Approaches and Solution
AD Vantage proposed an out-of-the-box solution—Medical Pouches Advertisement. The idea was to print promotional creatives of IFBL’s Gold Loan offers on medical pouches used by pharmacies. These pouches were then dispatched to all 209 IFBL branches and distributed to nearby pharmacies.
Why Medical Pouches?
People frequently visit pharmacies, making the pouches a repetitive touchpoint for potential customers.
Each pouch served as a micro-billboard that traveled home with the customer, enhancing visibility beyond the point of purchase.
The production and distribution costs were low, making it a viable option for IFBL’s budget.
Creative designs promoting the Gold Loan offers were crafted to capture attention and communicate the offer clearly.
High-quality medical pouches were printed with the promotional creatives.
These pouches were dispatched to 209 IFBL branches across the target states.
Partnership with Pharmacies
Tied up with local pharmacies to use these medical pouches for packing medicines.
Within a month, there was a 25% increase in inquiries about IFBL’s Gold Loan offer from the target areas.
The campaign was executed within budget, proving the cost-effectiveness of the innovative approach.
The unique advertising medium sparked conversations among the community, contributing to word-of-mouth promotion.
AD Vantage Integrated Marketing is proud to have partnered with IDFC FIRST Bharat Limited in achieving its marketing objectives effectively. This case study exemplifies how innovative advertising strategies can bring about effective results, even in challenging market conditions.