The BFSI sector is one of the primary pillars fuelling the economy. Ranging from banking to financial services, to insurance and encompassing everything in between, the industry is massive and the customer base is equally humongous. While Covid did impact every industry, that did not put a dent in the growth trajectory.
“BFSI sector grows 27 percent in February 2022 as compared to the previous year”
One of the leading brands which have been prevalent and a pioneer in this space is Motilal Oswal. Motilal Oswal Financial Services Ltd (MOFSL) was set up by Motilal Oswal and Raamdeo Agrawal as a broking house in 1987. The company entered into investment banking in 2005, followed by a private equity fund in 2006.
In 2006, Motilal Oswal Financial Services Ltd. acquired Peninsular Capital Markets and tied up with State Bank of India 2006, Punjab National Bank in 2007, and Axis Bank in 2013 to offer online trading to its customers. In 2010, Motilal Oswal Financial Services Ltd. set up a Mutual fund business named Motilal Oswal Asset Management Company (MOAMC). In 2013, Motilal Oswal Financial Services Ltd. established Aspire Home Finance Corporation Limited (AHFCL). The company offers loans for home, construction, composite, improvement, and extension in India.
They provide diversified financial services to a range of industries starting from retail industries to foreign institutions and foreign investors. Their unnerving willingness to create an impact in a short time has created an impact and increased the ratings across various categories in the Asian money brokers poll over the years.
The company has played a pivotal role in going above and beyond its offerings and establishing its thought leadership and expertise in marketing and customer care. Adding to the accolades they have also received awards for their marketing campaigns, and their contribution to the society during the pandemic, receiving the “Best Vaccination Campaign Award”.
They are heavily involved in many activities and initiatives for the benefit of the industry as well as the society at large. They have launched several successful campaigns to educate, train and upskill the masses about various nuances of the financial spectrum and this has been an ongoing process.
The brand is also digitally savvy and this is reflected by its online presence, especially on social media and other web channels, mobile apps, and other touch points where customers are constantly connecting with them. The brand needs to and continues to maintain a strong digital presence, to ensure they attract more customers, while also cementing loyalty from its existing set of customers and sustaining its brand image and expertise.
Motilal Oswal acing CXM
As customer experience takes center stage, there is a need for every brand to deliver on the customers’ expectations. This has to be consistent throughout the customer journey, and that’s what Motilal Oswal focuses on heavily.
Motilal Oswal has been ensuring that they are on top of what the audience demands. The brand is constantly striving hard to connect with its customers beyond transactions and help them achieve their personal goals. What makes this approach possible is a set of robust technologies through which their customers can not only transact conveniently from various platforms but also have easy access to all our products & services. They are now better equipped to get in touch with the brand.
They are incessantly listening to and learning from the audience, irrespective of the channels the customers use to talk about anything that is relevant to the brand, or the industry. Analyzing this data is playing an important role for the company to formulate strategies and campaigns for both on-ground as well as online activities. The brand is constantly building resources that can help the customers to become aware and be updated on the nitty-gritty of their financial needs. Based on the listening data, the brand also identifies trends in the industry that fuels their efforts in connecting with their customers better and helping them.
The brand is extremely proactive when it comes to leaving no stone unturned to ensure the highest standards of customer experience being offered. As it is with their solutions and services, they are being very cognizant of the customers’ needs, by paying heed to their queries, their issues, and their feedback, again being channel-agnostic.
There’s a dedicated team to respond to and resolve the queries by the customers and wherever they need to provide information or direct customers towards resources that will help them better. They derive in-depth insights into all aspects pertaining to the brand by simply focusing on the audience and that is reflective of the customer-centric mindset that runs throughout the organization.
Konnect Insights playing a part in the brand’s CXM objective
Motilal Oswal is using Konnect Insights to not only listen to their customers but also engage with them directly on social media channels. They use the platform’s analytics module to deep dive into various metrics and KPIs that plays a pivotal role in formulating marketing and communication plans, benchmarking, as well as influencing decision making.
With a focus on the customer and the right use of technology, Motilal Oswal has been continuously setting an example of excellent customer experience management.