The CMO's MO: Godrej Capital’s Nalin Jain on revamping marketing to hit new highs

The CMO’s MO (modus operandi), spotlights some of India’s top CMOs as they share their marketing mantra, trends for the future, and what keeps them up at night. Here, we chat with the country’s leading marketers, keep the tone conversational and crisp, with questions that allow leaders to shine a light on their personalities, plans, and passions projects for the year ahead. 

In this week's edition of CMO's MO, we catch up with Nalin Jain, chief marketing officer, Godrej Capital, the financial services division of the Godrej Group and a subsidiary of Godrej Industries. With 18 years in finance, he’s dabbled in asset sales, launched channels, and managed customer experience during the ING-Kotak merger. At IDFC FIRST Bank, he championed customer service and digital transformation, mastering operations and customer satisfaction.

During this five-year tenure with Godrej Capital, Jain has juggled operations, customer experience, marketing, service delivery, and digital assets like a pro. With his financial services background, he crafts strategies that marry business goals with customer needs, making Godrej a hub of innovation and customer-centricity.

Scroll on to find out more.

What are the three biggest marketing challenges for your brand right now?

In an increasingly crowded market, our goal is to find impactful ways to engage and connect with our audience. Right now, we're pushing forward in key market areas.

First up, we're navigating the ever-changing digital landscape, fine-tuning our strategies to better understand what our customers want. Second, we're doubling down on making meaningful connections through personalised messaging that hits home with our audience. And lastly, we're refining our approach to make sure every marketing move we make counts. The idea is to do better every day and reach new heights with our marketing efforts.

What are the three biggest opportunities for your brand?

Our brand is poised to seize several significant opportunities, starting with exploring regional markets. By tapping into 41 serviceable locations, we are catering to diverse local needs and preferences, expanding our reach and fostering growth in previously untapped territories.

Additionally, expanding brand awareness remains a key opportunity. Through strategic marketing campaigns and leveraging a marketing mix of offline and online, we aim to enhance our brand’s visibility, making it more recognisable across a broader audience.

Lastly, building a strong positioning as an MSME focused lender by understanding and addressing the unique challenges faced by micro, small, and medium enterprises, we can offer tailored solutions that support their growth, fostering loyalty and long-term partnerships.

Which specific areas are you investing your marketing budgets in this year?

We’ve recently expanded into 41 cities. We’re aiming to invest in market initiatives that are focused on capitalising local opportunities and customising our offerings to meet regional demands. Our recent campaign, ‘Hum samajhte hain business’, was being rolled in six languages, significantly broadening our reach to a diverse audience.

This is one my recent favourite campaigns. It resonated deeply because it genuinely communicates our commitment to understanding and supporting the financial needs of businesses, especially within the MSME segment.

Our main focus for this year is brand awareness. We aim to enhance our brand visibility and establish a stronger connection with our target audience.

We are also working on a festive campaign ahead of the festive season, details of which will follow soon. Simultaneously, we are dedicating additional resources to nurturing robust customer relationships across the MSME segment.

Is there any particular industry topic that is not discussed about enough?

I believe, particularly for our sector, financial literacy should be talked about more, especially amongst the newer generation and small business segments. The new generation needs to understand, careful utilisation of debt can strengthen your financial positioning.

By managing debt responsibly, you can enhance cash flow, optimise financial resources, and build a solid foundation for future success. On the other hand, many small and medium-sized enterprises struggle with financial management, accessing credit, and planning for sustainable growth.

By fostering greater awareness and providing a practical understanding of financial matters, we can empower MSMEs to make informed decisions that strengthen their financial health and contribute more effectively to economic development.

Godrej Nirmaan is Godrej Capital’s effort to help businesses beyond financing. We've collaborated with over 13 partners to aid MSMEs across India, focusing on expanding and enhancing the quality and diversity of support available for businesses.

What is the one topic that marketers need to stop talking about?

The industry should reconsider its emphasis on marketing trends that offer short-term gains but lack enduring value. Rather than chasing after temporary social media phenomena or viral campaigns, businesses should prioritise sustainable marketing strategies that build lasting brand equity and foster genuine customer connections. By focusing on consistent engagement, value creation, and building trust, companies can achieve more meaningful and sustainable growth in the long run.

What separates your brand culture from others?

Godrej Capital’s competitive edge lies in its deep understanding of the Indian business landscape. It is built on a legacy of trust and excellence of the Godrej Industries Group spanning over 127 years.

Our company caters to the specific needs of business owners by offering customised products and services and our Net Promoter Score reflects our commitment to customer satisfaction. With a customer-focused approach, robust digital capabilities, and strategic partnerships, we aim to provide exceptional support to Indian businesses.

What is the best piece of professional advice you ever got?

The best piece of advice I personally believe in is ‘Effective leadership is not about being the loudest voice in the room or having all the answers; it's about lifting others up and creating opportunities for them to excel’. This means trusting your team, providing them with the resources and support they need, and celebrating their successes.

When you focus on developing and mentoring those around you, you build a culture of growth and innovation. This approach not only drives individual and collective success but also fosters a sense of ownership and commitment, inspiring everyone to achieve their full potential.

Describe what kind of a CMO you are with three adjectives.

Innovative, strategic, and customer-centric.

What keeps you up at night as a CMO?

If anything, it is the responsibility of driving sustainable growth through effective marketing. I often reflect on how to continually innovate our approach and ensure our brand resonates authentically with our target audience.

Balancing short-term tactics with long-term vision is crucial, along with navigating the complexities of digital transformation and evolving consumer expectations. It's essential to maintain agility, adaptability, and a deep understanding of market dynamics to deliver impactful results that contribute to the company's success.