Success depends a lot on how you approach your target audience
After data management, product customisation and segmentation & targeting comes the turn of reaching the target audience using the right channels. When private sector bank, ICICI Bank decided to enter rural India with the aim to give loans for buying cattle to small farmers, they faced a lot of resistance, as farmers were more comfortable with local lenders and sahukars than with a bank. Another major deterrent was the extensive paperwork involved in getting a loan. To overcome this stiff resistance, ICICI launched a unique high impact rural marketing campaign called the Kamdhenu Cattle Loan Campaign. Through this joint campaign by ICICI Bank’s Rural and Microbanking and Agri Business Group (RMAG) and ICICI Lombard General Insurance, farmers were approached and were shown a short film on how availing a cattle loan is easy and not a cumbersome process. Avers Pranav Prasad, Head–Rural & Agriculture Business Group, ICICI Lombard General Insurance, “Kamdhenu was aimed at creating awareness among rural consumers about hedging their economic loss in the event of injury to the cattle due to illness or other perils.” Spread over a period of 150 days across five states and 48 districts, the campaign generated the requisite awareness. Post campaign, awareness levels about cattle loan increased by over 20% amongst the TG.
For more articles, Click on IIPM Article.
Source : IIPM Editorial, 2010.
An Initiative of IIPM, Malay Chaudhuri and Arindam chaudhuri (Renowned Management Guru and Economist).
For More IIPM Info, Visit below mentioned IIPM articles.
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After data management, product customisation and segmentation & targeting comes the turn of reaching the target audience using the right channels. When private sector bank, ICICI Bank decided to enter rural India with the aim to give loans for buying cattle to small farmers, they faced a lot of resistance, as farmers were more comfortable with local lenders and sahukars than with a bank. Another major deterrent was the extensive paperwork involved in getting a loan. To overcome this stiff resistance, ICICI launched a unique high impact rural marketing campaign called the Kamdhenu Cattle Loan Campaign. Through this joint campaign by ICICI Bank’s Rural and Microbanking and Agri Business Group (RMAG) and ICICI Lombard General Insurance, farmers were approached and were shown a short film on how availing a cattle loan is easy and not a cumbersome process. Avers Pranav Prasad, Head–Rural & Agriculture Business Group, ICICI Lombard General Insurance, “Kamdhenu was aimed at creating awareness among rural consumers about hedging their economic loss in the event of injury to the cattle due to illness or other perils.” Spread over a period of 150 days across five states and 48 districts, the campaign generated the requisite awareness. Post campaign, awareness levels about cattle loan increased by over 20% amongst the TG.
For more articles, Click on IIPM Article.
Source : IIPM Editorial, 2010.
An Initiative of IIPM, Malay Chaudhuri and Arindam chaudhuri (Renowned Management Guru and Economist).
For More IIPM Info, Visit below mentioned IIPM articles.
TSI exposes b school ranking scamsters Mahesh Peri of Career 360 and Premchand Palety of C fore. - For Complete Sting Operation Video Click Here
Pioneer Exposes the fraud called Mahesh Sharma and Mahesh Peri of Career 360 and Barbel Schwertfeger of mba-channel.com
IIPM: An intriguing story of growth and envy
Prof Arindam Chaudhuri of IIPM on MF HUSAIN
IIPM Related Links
Follow Arindam Chaudhuri on Twitter
IIPM B School on Twitter
Exclusive In chat with Society Magazine - Prof. Arindam Chaudhuri
