Sunday, February 26, 2017

Blue Ocean Strategy India Financial Services Industry – Axis Securities 3 pronged competitive strategy

Axis Securities Ltd, a 100% subsidiary of Axis Bank had in a very short span grew to be one of the Top Financial services players in India. For the most part of the year 2016, Indian Stock Markets have seen muted growth due to the global macroeconomic factors that affected all the developed and developing markets. Rising yields in United States and weak macroeconomic indicators in emerging markets had made investing in markets tough. Foreign fund outflows also affected Indian market but the outflows were compensated by domestic fund flows into equity markets. With the real estate market going through tough legislative changes there had been investment flows increase into financial assets. There had been significant rise in the retail investors interest in mutual funds as the industry saw record fund flows as investors bought in SIP’s and mutual funds to stay invested in the subdued market.

Axis Securities adopted technological innovation through its website and mobile app Axis Direct as explained by Arun Thukral, MD & CEO, Axis Securities in an interview to BW Businessworld, “Constantly innovating our mobile app and significant increase in trade volumes through the app. We have also revamped our website to provide a simplified, delightful user experience and works on all devices be it mobile, tablet, desktop or laptop. We realize that users prefer to access content in the form videos and not text. That is why most of our research reports and learn courses are now in the form of quick 2-3 minute videos.  We also understand that people want information on a real-time basis to take decisions, it was therefore imperative that our customer facing emails are live i.e. whenever the user opens the email they see the real time information in terms of stock price, research updates, market news, portfolio etc. For this industry first innovation, we have won awards by DMA not only in India and Asia but also at an international level.”

Axis Securities blue ocean strategy as highlighted by Arun Thukral, MD & CEO, Axis Securities in an interview to BW Businessworld, “we are among the top 5 players in the industry in terms of customer base, new acquisition & active investors. I am happy to share that we have been awarded as the best growing equity broking house for the last 3 consecutive years by BSE and D&B. Our strategy is 3 pronged - Go deep, stay agile and aim for customer delight. We believe that India is deeply under penetrated with 3 per cent population participating in the equity markets and the potential for expansion is enormous. We want to therefore take the Blue Ocean Strategy and reach out to new customers by creating more awareness about the benefits of equity as an asset class. We want to stay agile and lead technology innovation by taking big strides in mobile technology in form of simple yet powerful user interface and introduction of voice based investing. Last but not the least; we want to create customer delight through great user experience across channels.”

Despite the tough environment and turmoil to continue into the current year 2017, Axis bank is focusing on new customer acquisition through more awareness, using mobile apps and technology innovations to enhance customer delight and increase its market share and revenues. Through a structured customer life cycle management Axis securities customers can create efficient portfolios as the company is also a  full-fledged investment solutions provider. 

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