Dissecting HDFC Bank’s Social Media Strategy
About the Brand:
HDFC Bank Ltd is an Indian financial services company that was incorporated in Mumbai in 1994. It is now the largest private bank in India by market capitalisation and has one of the widest networks of ATMs and bank branches across the country.
True to their success in the banking world, their social media presence is also quite a popular choice among people and for good reason too. They try to live up to their tagline of ‘We Understand Your World’ by carefully assessing their target audience and curating their content accordingly and it shows. Their Instagram content is usually fun and filled with witty quirks. A shade of Yale blue usually forms the canvas for their content but they seldom mix it up with some red or white forming the colours of their logo.
They rely heavily on topical content to stay in touch with their followers and have also cracked the formula of subtly placing their products within cultural references. The same energy is translated onto their numerous campaigns.
HDFC saw an opportunity to place their newly launched Millenia cards targeted at youngsters, amidst Navratri and Diwali festivities, and they grabbed it with the trend #SpendItWell using some fresh influencer marketing on Instagram. They also made use of Instagram’s many interactive UI tools to establish a FOMO for their product while positioning themselves as a cool and fun brand for the youth. Their #StartDoing Campaign targeted primarily at millennial was launched using Facebook’s Pocket TVCs and YouTube’s Vogon tools where they encouraged people to take loans so as to avoid procrastinating their goals and dreams without worrying about not being able to afford things right away. During their #SpoiltForChoice Campaign, they exploited twitter’s native polling tool to get extra consumer involvement during Valentine’s Day with a special activity whilst cleverly advertising their bank offers. Their #RakshaMatlabRokNahi ad campaign on Raksha Bandhan tried to redefine social norms while taking a firm stand for feminism.
Their marketing strategy and posts truly justify their catchphrase ‘We Understand Your World’ as is evident by their careful planning and positioning, using the right platform at the right time. Their selective targeting and witty ads could serve as a lesson to other brands on how to identify, understand and serve your audience effectively.
Here are some of our favourite posts:
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