Our latest episode in the VideoBrief series features Arvind Iyer, Head of Marketing at Piramal Finance, in conversation with Safa Soomar, where he discusses Piramal Finance’s second phase of the Hum Kaagaz Se Zyaada Neeyat Dekhte Hai.
Iyer shares the inspiration and purpose behind the campaign, discussing the in-depth on-ground research that informed its conceptualization and the creative process with The Womb. He also highlights the emphasis on BTL marketing efforts for this campaign.
Insights and objectives behind the campaign
Detailing the key insights and aims of the campaign, Iyer says, “As a brand, our promise is to serve the underserved populace of the country—what we call the people of ‘Bharat.’ These are consumers with great aspirations but limited financial resources.”
He explains, “For our customers, those from a lower socio-economic background, who may not have the paperwork typically required by financial institutions, access to credit becomes much more difficult. For instance, a worker or owner of a kirana shop in Vasai or a hardware store in Panvel; these businesses generate income but might lack the formal documentation needed for loans.”
The campaign targets over 30 million households across India’s tier 2 and tier 3 cities that require funds for homes, business expansion, working capital, or personal expenses. Iyer emphasizes, “These are people who need money but often lack formal avenues to access it. That’s where we come in, aiming to change the game by underwriting these customers at scale. We are about people, not just papers, and this is the philosophy driving Kaagaz Se Zyada Neeyat.”
Serving the underserved
Piramal Finance’s first phase of the campaign came on the heels of their acquisition of DHFL, introducing their ethos of focusing on intentions over paperwork. “In the first phase, we showcased what Neeyat (intention) really means. Now, in the second phase, we’ve refreshed the campaign with a clear call to action, Aaiye baat karte hain (Let’s talk),” says Iyer.
“The focus remains the same: offering empathy, fairness, and transparency to underserved customers. However, the new phase incorporates a more direct engagement with the target audience, aiming to create an even stronger connection,” he adds.
On-ground research
Piramal Finance’s campaign development process is grounded in first-hand research. “We are very keen about being out there and meeting our customers,” shares Iyer. “We travel across the country, interacting with our customers, partners, and employees. With over 500 branches in smaller cities, these regions are our karambhoomi (field of action).”
He emphasizes how the team at Piramal Finance eases customers by approaching them in their own homes to talk to them where they are comfortable and don’t feel intimidated.
“We spend time with our customers at their businesses or homes to understand their aspirations. We gather insights both qualitatively and through ethnographic research, while also using other studies to guide our mission,” Iyer adds.
Creative process
Discussing the creative collaboration for the campaign with The Womb, Iyer says, “Although we have a client-agency relationship on paper, in reality, The Womb is our alter ego. We don’t follow the typical brief-and-deliver model; instead, we co-create ideas together.”
“We’re constantly solving problems as a team, and the creative process is fluid. It’s not just about top-of-the-funnel advertising; we work across the entire consumer value chain. We also speak extensively with our branch employees who meet customers more frequently than we do, and their insights are invaluable.”
The characters featured in the campaign, such as a rickshaw driver and a sugarcane juice vendor, are modeled on actual customers. “We met these people and found their stories endearing, so we decided to build our narrative around them,” says Iyer. “This approach ensures that the campaign reflects real-life experiences and resonates with the audience.”
Evolution of Hum Kaagaz Se Zyaada Neeyat Dekhte Hai
In terms of evolving the campaign, Iyer explains, “In the first phase, we introduced our brand and what we stand for; the second phase builds on that foundation. Instead of focusing on a specific brand attribute, we wanted to communicate our core promise—that we care more about people and their intentions than about paperwork.”
He adds, “The message of empathy, fairness, and transparency continues, but now with a more direct call to action. We’re telling people, ‘aaiye baat karte hai—let’s have a conversation.’ We’ve also introduced new elements into the campaign that differentiate it from the first phase while still building on the same ethos.”
He says that most of these underserved customers, through a process of “self-selection,” negate themselves from even applying for a loan. Piramal Finance aims to change that narrative for them and show them that they have a pillar of support to lean on and that, despite the lack of paperwork, they can still apply for a loan.
Marketing strategy and media mix
Touching upon the marketing strategy and media mix that the company has used to amplify the campaign, Iyer explains, “We use a combination of platforms. In the financial services space, or for any D2C brand with a significant footprint, a mix of television and digital is common. However, we’ve taken a slightly different approach by incorporating a lot of below-the-line marketing.
“We focus on areas around our branches, using wall paintings, advertisements on state transport buses, bus stations, and display units. We also utilize local media through audio announcements, such as mobile vans with speakers that travel through localities.”
He continues, “This localized approach is key because our customers need to see our presence in their communities, where they live or work, to believe in us. So, we’ve over-indexed in these areas.”
Television also plays a crucial role for Piramal Finance, being a relatively newer brand. “Television gives us a broad reach and builds brand awareness rapidly across the country. Beyond that, we use digital heavily for sharper remarketing and retargeting. For instance, when viewers see the call number at the end of the commercial and reach out, we ensure they go through a complete customer journey, supported by a mix of digital engagement and our customer experience services, such as our call centers and branches. We integrate all these channels to serve our customers effectively,” elaborates Iyer.
Wrapping up the conversation, Iyer reiterates, “Our goal is to serve our customers in a way that goes beyond just understanding who they are or what they do. We aim to truly see them, the way they conduct their business and who they are as individuals, and provide support at scale. This has always been our focus, and it will continue to guide us moving forward.”
