Summary
Anyone can afford anything now! The question was, how can an Indian middle-class family afford to buy a high-value product? This campaign is the answer to that question. Now, if you like the product, you can buy the product. And the definition of ‘product' includes almost everything. #SabKuchEMIPar
Challenge
● Indians are mostly aware of the brands like Bajaj Finserv, Tata Capital and other financial services companies offering products on EMIs. So, the challenge was to reach the potential consumers and spread awareness that Kotak also provides an EMI product with much more affordability. ● With the festive season around the corner, we used this opportunity to reach those customers and urge them to buy appliances, furniture, gadgets, etc. on the basis of staggered payments, with Kotak. ● We identified the challenge of the consumers (affordability) and decided to show them an easy and reliable way to afford almost everything on EMI.
Objective
● The primary business objective was to make customers aware of the various form factors under Smart EMI through which they can avail a finance scheme and that they can enjoy EMI on everything that they purchase. ● The marketing objective through this campaign was to make the Smart EMI offerings easy to relate to and easy to understand. The concept ‘Everything on EMI' will help increase the interest among the consumers and make them confident about their affordability. Our objective was to amplify the concept ‘Everything on EMI' to reach everyone with fun and ease.
Strategy
● Kotak Mahindra Bank partnered with Tonic Worldwide and launched a campaign to reach that section of the consumers who avoid purchasing a high priced product. This campaign will help them know that their affordability will now increase when they can get almost everything on No Cost EMI with Kotak. ● We created a couple of digital videos where we highlighted relatable instances of the Indian middle class family. For example, this card can help the kids of this gram-worthy era look cool as their peers with the gadgets their parents can easily afford to buy them or an Indian housewife who is hoping her husband buys a bigger television so that she can show it off at her next kitty party. A solution to all affordability problems is now available. ● The campaign engaged a wide age range of audience from 21-65 years with the objective of spreading the message that anyone can avail the finance scheme of Smart EMI which helps the consumers to enjoy EMI on almost everything.
Data
● Due to the decrease in the buying ability of many consumers since the pandemic, there was a rise of 220 per cent in debit card EMI transactions. The customers who avoided purchasing higher-priced products had got the affordability factor in terms of EMI. ● This affordability solution has played a positive role in impacting sales not only across the metro cities but also in Tier 2 and Tier 3 cities of the country. This came up as an opportunity for Kotak to empower their consumers with such a solution where they could buy almost anything on EMI with ease, using an EMI credit card offered by a bank. ● With affordability comes the factor of value-for-money. Consumers can buy their product by paying zero price now and by easily paying it in equal monthly instalments. Items like smartphones, mixer-grinders, kitchen utensils, speakers and headphones, household products and more are now easily affordable with this facility. ● For Kotak, we needed to provide our consumers with the best EMI facility in the market and thus making their shopping more hassle-free.
Solution
● Kotak launched the ‘Sab Kuch EMI Par' campaign. The content was fun, relatable and easy to understand. The videos showcase a typical Indian middle-class family who is used to giving in to their reality and letting go of their dream phone, television, washing machine, etc. They almost mockingly ask if these luxuries were available on EMI. And this time, the answer was yes with a NO COST EMI advantage. ● We decided to reach our consumers through a couple of digital videos and create stories where they can relate to the situation at any store when they have to let go of the products they like due to their high value. In the video, we provide the solution of paying in EMI, with Kotak. The tonality, the casting, the products that were picked to be showcased, the narrative of both the videos was carefully handpicked to appeal to this audience.
Results
● Our objective was to inspire our followers to buy high priced products with the Kotak EMI card and increase their affordability. The videos achieved the objective and garnered an impressive total of 9.3+ Million views with 28.02+ Million impressions and a reach of 15.8+ Million. It spread widely among our potential consumers and has made an impression that they can now get almost everything on EMI. Our aim was to spread fun and awareness about the product and we had succeeded in doing that.
