Shriram Finance Limited is the flagship company of the Shriram Group, which has a significant presence in Consumer Finance, Life Insurance, General Insurance, Housing Finance, Stock Broking and Distribution businesses. Shriram Finance Limited is one of India’s largest retail asset financing Non-Banking Finance Companies (NBFC) with Assets under Management (AUM) above INR 2.33 trillion.
Established in 1979, Shriram Finance is a holistic finance provider catering to the needs of Small Road Transport Operators and small business owners and is a leader in organised financing of pre-owned commercial vehicles and two-wheelers. It has a vertically integrated business model and offers financing number of products which include passenger commercial vehicles, loans to micro and small and medium enterprises (MSMEs), tractors & farm equipment, gold, personal loans, working capital loans, etc.
The group has a pan India presence with a network of 3,095 branches and an employee strength of 75,813 servicing 87.14 lakhs of customers.
The key objective of the finance brand is to become the go-to source for financial services in India. To accomplish this and to increase the brand’s visibility, Shriram Finance has appointed ICC Men’s T20 World Cup 2024-winning coach, and former Indian batter, Rahul Dravid as its new brand ambassador.
The strategic alliance also aims to build consumer trust and solidify the firm’s position as a dependable financial partner.
Dravid’s immaculate reputation for honesty, discipline, and consistency perfectly complements Shriram Finance’s basic beliefs. His involvement with the organisation is intended to reach a larger audience and boost trust in its services. This collaboration represents a key milestone for the top financial services provider, as it broadens its reach and strengthens its position in the Indian financial services sector.
During the unveiling event of Rahul Dravid as brand ambassador, SportsMint Media got an opportunity to speak with Ms Elizabeth Venkataraman, Executive Director, Marketing of Shriram Finance Limited.
Ms Elizabeth covered a wide range of subjects in the conversation, such as initial conversations between Rahul and Shriram Finance, capitalising on south market and more.
1. What were the initial conversations between Rahul Dravid and Shriram Finance?
We decided to build a brand while it was already doing well. We decided to tell the narrative because we discovered that the story is different for the brand in different segments, and we wanted to bring an equaliser, which is why we are doing this. We looked into it, and I believe Rahul as the brand ambassador fits well with the brand’s synergy, culture, and value system. We found it to be ideal because, whether it was stability, trust, reliability, or longevity, I believe it all came together for us, and he felt the same way because we are so strong in the South. He grew up in Bangalore and spent a lot of time in the South. He was also familiar with us, and I believe the conversations went well, so we decided to move forward.
2. Knowing Rahul makes it easier to connect with people as well, how convenient was it for the brand to approach him to become the brand ambassador?
We approached him because he was very much on our radar and we wanted to collaborate with him. When we approached him, he responded very well, was familiar with us, and recognised the synergies and similarities, so he agreed. So to answer your question, it was quite simple.
3. In what ways will the brand try to capitalise on his enormous popularity in India, especially in the South?
Rahul Dravid is beyond any region. He transits all these boundaries and we are also a national brand, while we may be stronger in the South. It will also allow us to communicate with people from all over India, which is critical because our businesses operate in a variety of industries, including commercial vehicles, gold loans, and two-wheelers. Our geographical presence extends throughout India. We have 3000 branches. So, across geographies, segments, and age groups, there is no better choice for us than Rahul Dravid.
4. Are there any key sectors where you plan to use Rahul Dravid’s expertise?
Many of those things are under discussion and progress. It would be early to speak about it, but we will have a very holistic approach while he leads our brand, our voice and originality, our value systems, all of it. He embodies everything we want to say, and our story is very much in line with his persona. We look forward to seeing things unfold.
5. The group has previously sponsored the Maharaja KSCA T20 trophy and TNPL. How do previous agreements contribute to such ambassador deals of this nature?
Sports, particularly cricket, have been extremely popular in India. We also act on our own understanding of the needs, which is why cricket is such a large area of association in general. Every bit of what we do, whether it’s the partnership with TNPL or Maharaja KSCA T20 trophy, contributes to the brand, and while many of these initiatives may have been in the South, we also believe that we need a national association, and presence, which we have most likely not had, having done so consistently over the last 50 years. So, I believe it will now be much more regulated.