Summary
We launched the ActivMoney campaign with a riveting action film featuring the fresh power couple Ranveer Singh and Keerthy Suresh to highlight the benefits of ActivMoney. In this film, the female protagonist, Keerthy Suresh, was shown to prefer a Savings Account because of its liquidity, while the male protagonist, Ranveer Singh, chose Fixed Deposit because of its high returns.
Challenge
Objective: The objective was 2-folds. We aimed to create awareness among our audience about the benefits of ActivMoney, which offers the benefits of both FD and Savings account and also educate users about the concept itself as it is not a straight forward offering. To attract new customers to open a Kotak Savings Account and encourage existing customers to maintain higher balances in their Savings Accounts by opting for the ActivMoney facility. Challenge: One of the challenges was to convey the unique benefits of ActivMoney in a crowded financial market. To achieve this, we used a powerful and relatable narrative featuring Ranveer Singh and Keerthy Suresh, making the concept easily understandable to the audience. Another challenge was to explain the concept of ActivMoney - where one could convert their savings into FDs with a sweep-in, sweep out facility without paying any penalty for premature withdrawal Next challenge was to create buzz on social media about a financial product which is usually deemed boring; hence we leveraged the influence of popular social media personalities who have Pan-India as well as regional appeal;
Objective
We wanted to introduce an exciting combination of Savings account (SA) and Fixed Deposit (FD) with the launch of ActivMoney campaign. Our Savings Account offers a high-interest rate of up to 7%* p.a. through the ActivMoney facility vis-à- vis the standard 3.5% interest p.a. offered by most banks. The age-old debate between savings account (SA) and fixed deposit (FD) was finally put to an end with the launch of ActivMoney. Customer can earn higher returns on their investments for achieving her/his short term goals such as indulging in shopping as well as emergencies without having to break any FD or pay any penalty.
Strategy
Our campaign, powered by the dynamic Ranveer Singh and Keerthy Suresh, showcased the advantages of ActivMoney in a thrilling action film. However, ActivMoney emerged as the perfect solution, offering FD-level interest while allowing immediate fund access without penalties. The campaign introduced the unique concept of #FDWalaSavings, capturing the essence of this innovative banking feature. We implemented a multimedia launch strategy encompassing television, digital, print, outdoor, and social media, ensuring a comprehensive presence across India's key markets. Our proposition, 'FD Wala Savings,' became a trending topic as #1 on Twitter, further highlighting the exceptional response and interest in ActivMoney. To further boost our campaign, we engaged with influential brands, fostering discussions about epic financial combos using the #FDWalaSavings hashtag. We also joined the conversation on Threads, becoming one of the pioneering BFSI brands to engage in such banter. To emphasize the distinctive attributes of Kotak ActivMoney, we initiated an influencer-led campaign, themed #FDWalaSavings. Influencers from diverse backgrounds, including finance experts like Unfinance and Raj Shamani, as well as comic creators like Danish Sait, were strategically chosen. The campaign tapped into the popularity of OTT personality Sima Taparia, generating substantial social media engagement. We also incorporated a regional touch by partnering with Priya Bapat, a Marathi actor, to ensure our message reached diverse audiences. Micro influencers were further leveraged to explain the concept of ActivMoney to audiences through direct point to camera videos
Data
https://www.youtube.com/watch?v=o5o5q6B2SuA
Solution
Results
The campaign successfully attracted new customers to open Kotak Savings Accounts, using the compelling narrative and the unique selling proposition of ActivMoney. We saw a 13% increase in brand awareness and 21% increase in brand consideration with approx.15L sign-ups for ActivMoney from May 2023 till now. The campaign generated significant engagement on social media platforms. The reach of 83M+ and 35.5M+ views demonstrated the effectiveness of the content in capturing the audience's attention. The engagement of 1M+ further highlighted the level of interaction and interest generated by the campaign. The involvement of diverse influencers from various backgrounds contributed to the campaign's success. The high reach of 16M+ and significant engagement of 7M+ with an engagement rate of 10.9% underscored the effectiveness of the influencer-led approach in promoting the unique selling proposition of #FDWalaSavings. The campaign proposition 'FD Wala Savings' trended as the #1 topic on Twitter, further increasing brand visibility on social media. The campaign's use of multimedia, influencer-led content, and strategic social media engagement led to substantial customer acquisition, increased Savings Account balances, and positive engagement metrics.
