Today buying a home in India without borrowing from the banks is unthinkable, unless you have unaccounted gunny sacks of money. Every aspiring home buyer is stressed out at the very thought of beginning the process of applying for home loan. What are the types of home loans? What are these processing fees and rate of interest? How much can I avail? Oh wait! What about my documents and EMI? Even after all this, will I be able to buy a home of my dreams or end up in a compromise?!
So many questions around one big decision in life, that one decision that will decide the kind of home you’ll live in for the rest of your life, and pay an installment for at the beginning of every month to the bank.
Aditya Birla Housing, Aditya Birla’s home finance foray, is offering a solution here. The non banking home loan provider is looking to position itself as your dream home financier in its new campaign ‘Know your true worth.’ The idea around the campaign is to sensitize potential home buyers to determine their true worth, which isn’t just about their income, but a sum of their life’s work, dreams, ambition and vision.
At the center of the campaign is a film conceptualized by Taproot Dentsu, featuring a man who has just stepped up the ladder of success in life. The TV commercial begins with his father inaugurating his factory, amongst a crowd of delighted friends and relatives. After the inauguration, the man drives home his parents and wife while expressing his joy that they could make it from Meerut.
They all return to a humble-looking home with not much space to live comfortably, after a long drive and climbing a long spiral staircase. Like all mothers, this man’s mother too, gives him an advice after observing the home for some time: ‘Beta, business mein tho laksmi aa gayi, ab ghar ka bhi dekh lo’. The father instantly makes a joke to dilute the situation.
A male voiceover asks the man: ‘Kya aapka ghar aapke kabil hai?’ while a website ‘your true worth’ is introduced in the ad and its benefits explained to help you buy a home you truly deserve.
‘Know your True Worth‘ acts like an online tool. It explains what is true worth exactly and how Aditya Birla Housing determines your true worth. While other loan providers may determine loan eligibility based on traditional and cumbersome documents, Aditya Birla takes a hollistic approach. A team will spend the necessary time understanding your business model in detail, take into consideration all sources of your income, to arrive at your true worth.
Click on ‘Calculate’ button to answer questions one after the other to get your figure. A ‘Know more’ section gives information about types of home loans, fees, documents, etc.
‘True worth stories’ section features stories of young people who bought their dream home based on their true worth. There’s 28-year-old Aarushi who sets up her own business after leaving a job and always dreamed big. There’s the story of Ayush who bought his dream home at the age of 26, and availed the benefits of buying early. Then, there’s 27-year-old Somya Bhatt who starts up on her own and gets funding too, the story tells us how she did not compromise with tiny home loans and demanded a home worth her ambitions. A visitor can also submit their own ‘true worth’ stories.
In terms of ‘call-to-action’ on the website, there are forms which you fill up with your contact details and the company representatives would contact you.
Missing out on Gen-Y?
I absolutely support the idea that ‘only your true worth should determine the value of your home loan’, and not some documents. Looking at the business objective here and the target group aimed at, ‘Your True Worth’ campaign has the potential to catch a consumers’ attention. Home buyers, especially today’s young generation is an ambitious lot, and wants only the best that life can offer.
The idea aligns well with the ambitions of this Gen-Y segment, but the execution has missed out on addressing this young consumer on a platform he/she frequents - social media. Aditya Birla Housing has a brand new YouTube channel with the TVC, and no presence on social media as yet.
The brand could tie its messages and ‘Know your worth’ stories from the website with its social media properties if it had one. It could build better consumer awareness and engagement on social media, also, this way it could drive relevant traffic and create buzz with the right consumer segment - the ambitious, the no-compromise, social-savvy, potential Gen-Y home buyers.