Manappuram Finance Limited is one of the popular NBFCs in India, which has taken up innovative approach towards introducing its online gold loan products to customers. The marketing campaign refines the offering and presents it as convenient and hassle-free, where people can expect the loan amount the same day of loan approval. The Manappuram online gold loan ads reposition the traditional gold asset as a readymade solution to all financial problems.
The advertisement carries a script that tells the viewers how to monetize the idle lying gold jewellery. Initially, gold was seen as the last measure to solve a financial issue. But with gold loan providers gearing up the marketing of loan against gold products, the perception of common Indian citizens are changing towards gold loans.
Why to Apply for a Loan against Gold?
The new OGL (online gold loan) campaign by Manappuram Finance attempts to convince the customers to not liquidate their savings and gold, rather secure the gold with the financial institution for funds. These funds can then be utilized to meet any monetary challenges, be it a wedding expense, education, big-ticket purchase, housing need, medical treatment, business purpose, or anything legit.
Below given are the reasons as to why apply for Manappuram gold loan.
- Loan amount is up to Rs. 1.5 crore. Free custody and security is given to gold ornaments kept with the NBFC. Loan amount granted is subjected to gold’s net weight, purity, and other terms and conditions.
- Get the loan via internet, anytime and anywhere. Simple application makes it easy for anyone to apply for the loan, within a click.
- Customers get free insurance cover for the gold they pledge with the NBFC. Paperless transaction service accessible from the mobile app.
- 24×7 online payment options available. Easy documentation and instant approval possible. There are no hidden charges. All the policies and processes are transparent.
There are 8 celebrity-ambassadors who endorse the NBFC’s products. These celebrities are Jeetu Madnani for West Bengal, Akshay Kumar for the Hindi speaking audience, Sachin Khedekar for Marathi audience, Uttam Mohanty for Odisha, Vikram for Tamil Nadu, Venkatesh for Telangana/Andhra Pradesh, Mohanlal for Kerala, and Puneet Rajkumar for Karnataka.
What Are the Highlights of the Gold Loan Online Campaign?
The OGL campaign is revolutionary, as it sets to change the outlook of people towards gold, while giving importance to its cultural significance. Through technology based solutions, Manappuram Finance Limited addresses the challenges of traditional approach to gold loan, where the target-customer was the male group, and not that of women.
- The new online campaign adopts an inclusive approach. The woman is shown to own gold jewellery. She then extends support to the male’s decision to use the ornament for a loan to achieve business goals, purchase car, house, or regain own independence by fulfilling her dreams.
- The ad also stresses on how easy it is to attain a gold loan online through the Smart mobile app. It highlights the convenience of online loan application, which takes only a few seconds to complete, thus doing away with technophobia that some people have.
- The customers are informed that they can avail a loan against gold at any of the Manappuram Finance’s 3300 branches, after completing the needed physical evaluation of the gold asset.
- The online loan feature also comes with ease of transactions, repayment of interest, taking additional loan, etc through the mobile app. The NBFC promises to offer safety to the pledged gold jewellery. The story of the advertisement focuses on customers making ‘smart’ choices.
What Does the New OGL Campaign Show?
The TVC carries a peppy jingle and is very contemporary. There is a signature dance step and the actors playing the characters retain a mix of modern and traditional appeal. One of the moments in the ad depicts a contractor man, who uses a gold loan from Manappuram Finance, to complete his project. The advertisement also shows a couple who wish to purchase their dream house, and a family who wants to get a new car. Both of these dreams are fulfilled through a gold loan from the NBFC.
- The ad tells the viewers that they can take the loan as per their convenience, and how it being hassle-free makes the gold loan a better financing option above others.
- Keeping up with the sentiments of common man, the advertisement comprises of a young techie who needs gold loan for a start-up, and a self-employed person who is an Autorickshaw driver.
- The OGL serves an inspiration to the mass and delivers a message that all the aspirations in life can be met by a loan against gold from Manappuram Finance.
- The ad ends with a quirky tag line which means that if the gold is in the locker of Manappuram Finance, then you can become a smart person anytime in life.
The online gold loan campaign by Manappuram Finance Limited is thus, nothing less than revolutionary in approach. It busts several stereotypes and taboos about gold and taking a loan against this precious asset. The ad does away with gender roles and makes people find a practical and reasonable way out for their financial needs, by giving the option for online loan against gold.