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Getting India To Rethink Gold Loans As A Last Resort In Borrowing

Submitted by admin on March 8th, 2025

Gold loans were generally considered the final possibility for financing among borrowers approximately ten years ago. Muthoot Finance has directed its entire marketing communication platform to settle this specific customer concern. Abhinav Iyer who serves as the Senior General Manager of Marketing & Strategy for Muthoot Finance and The Muthoot Group narrates the process of transforming people’s attitude toward loan adoption.

The lending section has experienced which critical disruptions?

India’s lending sector continues to change actively while consumer needs advance and technology brings innovations. The disruptive technologies of AI, big data analytics ML, and data analysis have remodeled how customers interact with businesses. The modern consumer seeks completely refined experiences as well as instant online transactions through simple touch-based interfaces.

Can you describe how the opinions of loan customers about gold financing have developed?

Indian society views gold loans as a final opportunity for financial assistance. A decade ago most individuals considered gold loans when facing exhaustion of all possible borrowing opportunities.

The solution required us to create all marketing content specifically to eliminate psychological barriers so first-time borrowers could transition toward positive views about financing options. Marketing communications help people view gold loans as their main borrowing tool by unlocking valuable unused objects secured in almirahs and cabinets.

Our marketing campaigns under the names of “Gold Loan is Good” and “Kholiye Khushiyon Ki Tijori” have served to drive this goal effectively. The market shows a growing trend of consumer awareness regarding the capabilities of household gold jewelry. The utilization of their gold has led people toward achieving their life goals and advancing their aspirations.

Today, the potential for Gold Loans is immense. There are more than 25,000 tons of household gold jewelry in India with less than 5% of it monetised by way of Gold Loans. With over 7,000 branches across the country, we serve over 2.5 lakh customers every day. What better testament to the changing consumer perception and growing demand for gold loans?

Which new technologies does Muthoot Finance implement to sustain its lead position?

Our position as the top company in gold loans at Muthoot Finance has led us to perform regular product transformations. The company became one of the earliest providers of ‘Gold Loan at Home’ which offers customers gold loan services through in-home direct delivery.

The iMuthoot Mobile App provides user-friendly UPI payment features for processing transactions. Muthoot Finance started the Gold Milligram Reward Program which serves as the first loyalty system in the gold loan market delivering 24-carat gold coins on each transaction.

We give multiple benefits to our customers through free pre-payments and part-payments of gold alongside seven-layer insured locker protection and other free services. As India’s most reputable brand, we provide customers with fast disbursements and excellent interest rates together with instant approvals and prompt service.

The brand has implemented its business strategies alongside marketing strategies by using which essential consumer understandings?

People constantly require financial resources to meet their personal familial or occupational requirements. The funds may be used to both initiate fresh business ventures and develop mature ventures. Customers use funds either for home renovation projects or for purchasing either a new home or an existing one. The funds help people to accomplish overseas travel alongside hobby pursuits and support their children’s aspirations.

The available reasons for obtaining funds extend across numerous purposes while the requirement for funds generally emerges swiftly. We have developed multiple marketing initiatives that both educate consumers and eliminate fears create awareness and establish confidence while using storytelling methods or displaying utility-focused product presentations.

After many marketing initiatives,the campaigns reached their apex by motivating people to overcome their doubts about gold loans and to take advantage of them proudly.

Describe the inner meaning and significant effects of the current ‘Sunheri Soch’ marketing effort.

Our massive annual campaign called Sunheri Soch Season 3 constitutes the largest initiative this year. Muthoot Finance implemented Sunheri Soch Season 3 through a complete marketing strategy impacting TV and print media together with radio broadcasting alongside digital communications and out-of-home visual exposure points and various business-to-leisure and activation activities.

Within this current campaign, Muthoot Finance features seventeen true Muthoot Finance gold loan customers whose stories demonstrate how they accomplished life success through secure loans. The campaign executes under the slogan “Garv Ka Parv”.

The campaign features Madhuri Dixit as the narrator whose voice is supplemented by the local language endorsements of influencer talents Manoj Joshi Jisshu Sengupta Sudesh Bhosale and RJ Raunac.

The video promotes these real-life Sunheri Soch customer testimonials while using the anthem through the combined social media presence of 100 experienced RJs across India. A Sunheri Soch TV advertisement features Shri Amitabh Bachchanji and aired for the first time during launch day.

The marketing campaign stories were chosen from a pool of 2,200 genuine Season 2 customer testimonials to depict a vast representation of customers from various locations and loan reasons.

The business impact of Season 2 showed 4.5 times greater gold loan acquisition than Season 1. Our team aims to accomplish twice the business outcomes achieved during Season 2 in Season 3.

The team plans to obtain 5,000 more success stories for Season 4 while continuing to increase our business impact beyond Season 2 levels.

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