L&T Finance, a subsidiary of the broader Larsen & Toubro Group, offers a wide array of financial solutions catering to the diverse needs of businesses and individuals. The firm’s extensive portfolio includes home loans, personal loans, mutual funds, and wealth management services among others, aimed at serving broad clients.
The primary marketing objective of the campaign was to boost awareness of L&T Finance among the target group, while the business objective was to drive sales and enhance customer engagement.
The campaign targeted individuals aged 20 and above, across both genders. It is particularly aimed at reaching individuals belonging to the mid to high-income bracket.
The campaign was predominantly focused in Mumbai and Kolkata.
Diving into the core of the L&T Finance Ad Campaign involves an understanding of certain important aspects that drove its design and execution. These include:
- The Objective of the Campaign
- The Campaign’s Target Audience
- Geography covered in the Campaign
The Objective of the Campaign:
The foremost objective that supported the L&T Finance Ad Campaign was to expand their brand awareness about the financial solutions offered by L&T Finance and to drive a notable increment in sales. The dual aim was to not only mark a robust imprint in the potential customers’ minds but to translate this awareness into tangible business growth (sales).
The Campaign’s Target Audience:
The campaign was meticulously tailored to resonate with individuals aged 20 and above, encompassing both male and female demographics. This broad age bracket was targeted to ensure an inclusive appeal to a diverse spectrum of individuals who are at various positions in their financial journey. The income bracket of focus was the mid to high range, aligning with the nature of financial services and solutions provided by L&T Finance.
Geography that needs to be covered in the Campaign:
The geographical aspect of the campaign was a pronounced focus on the bustling financial hubs of Mumbai and Kolkata. This geographical representation was strategic to ensure a comprehensive outreach to potential customers, irrespective of their region.
Analyzing the above mentioned information emphasizes the brand’s essential requirements that shaped the campaign. The competitive landscape with notable players like IDFC, HDFC, Sriram, Tata Capital, and Aditya Birla Finance, represented that the campaign not only resonated with the target demographics but also was exceptional in a crowded marketplace.
The media chosen for this campaign were:
- Radio, Transit, Digital and Influencer in Kolkata
- Radio, Transit, OOH, Airport and Influencer in Mumbai.
Going for mass media like TV and Newspapers would have lead to considerable spillage, so the focus was on city specific media, as mentioned above. This multi-media approach was adept at ensuring a pervasive reach, catering to the diverse media consumption habits of the target audience.
This approach was calibrated to drive a dual outcome – engraving a strong brand recall and propelling the audience to engage with L&T Finance, thereby fulfilling the marketing and business objectives envisaged at the outset of this campaign.
The campaign’s solution was devised to ensure a broad reach and robust engagement with the target audience across Mumbai and Kolkata, known respectively for its bustling outdoor life and heavy public transport. The campaign was hence deployed across various strategic outdoor locations.
Airport campaigns were launched targeting numerous travelers, while transit campaigns were initiated across 72 buses traveling through the city, ensuring visibility to a wide array of commuters. Moreover, an influencer campaign was carried out on Instagram to target the digital savvy audience. It boasting a reach of 448,584 individuals, thus leveraging the power of social media to further amplify the campaign’s message. Additionally, radio campaigns were broadcasted across four popular stations – Radio Mirchi, Red FM, Big FM, and Magic FM, making the most of Mumbai’s radio listenership.
Transitioning to Kolkata, the approach was slightly tailored to fit the city’s unique landscape. Transit campaigns were executed across 500 cabs, ensuring a strong brand presence among the commuting people. On the airwaves, radio campaigns were broadcast over two popular stations, Radio Mirchi and Big FM, reaching out to the city’s extensive radio audience.
A vigorous digital campaign was run, that amassed a whopping 35,697,579 impressions, thus making a significant impact in the online sphere. Further augmenting the digital front was an influencer campaign, reaching 1,117,057 individuals, which significantly helped in creating a buzz and fostering a deeper connection with the digitally savvy target audience.
Through these meticulously planned and executed strategies, the campaign managed to create a comprehensive solution that addressed the objectives of raising awareness and driving sales, all while catering to the distinctive characteristics of the geographic locations it was deployed.
Here are some of the creatives used by the brand-
The comprehensive approach led to heightened brand awareness and an increase in sales, achieving the primary objectives of the campaign. The extensive reach across different mediums and geographic-centric strategy contributed to the overall success of the L&T Finance’s ad campaign.