Summary
Equentis Driving change for women in Finance. In a world where financial empowerment knows no gender, Equentis's #HarGharLakshmi campaign aims to inspire and encourage every woman to manage the family's future like they've been managing households and budgets for centuries.
Challenge
#HarGharLakshmi: From Managing Homes to Managing Finances Women have transcended traditional roles, joined the workforce, and contributed as family earners, significantly elevating their socio-economic status. However, persistent inequalities often deter many women from investing, resulting in limited financial market engagement. In Indian households, women are revered as symbols of prosperity and manage household finances, but there is a gap in investment participation between genders. Despite their significant influence on financial decisions, the investment landscape predominantly comprises men, with women representing only 24% of retail investors in the stock market*. Diwali is a culturally significant and unifying festival symbolizing shared sentiments across communities. Considering its impact, we decided to confront this stark reality—the #HarGharLakshmi campaign aimed to bridge the women investor gap, motivating them to lead investment decisions.
Objective
Key Insights - 1 - The limited involvement of women in financial markets stems from the need for adequate role models like female trailblazers or peers who can guide new investors in this arena. 2 - Women prefer low financial risks that stress stability and safety. It makes them choose secure savings options over riskier ventures like stock market investing, which is perceived as masculine. We decided to tackle these challenges head-on. So, we put in place a women-only campaign, #HarGharLakshmi, to empower women and help them increase their participation in the equities market. Our goal was to support them throughout their journey by providing tailored guidance and the right advice.
Strategy
An email campaign served as the keystone of our communication strategy, playing a vital role in connecting and engaging with the audience. We used GIFs, Videos, and Data as a form of communication to strengthen our visuals and Data. The campaign was Three-pronged: Teaser, Hero Film, and Email Offer Launch. 1. Teaser – A GIF was created with Lakshmi Footprints moving ahead in the room. (stay tuned to know more). 2. Hero Film Launch: Our digital film titled #HarGharLakshmi highlighted the low participation of women in financial decision-making, encouraging them to take the lead in investment decisions. YT Link – https://www.youtube.com/watch?v=QVuIyHllG3U 3. Offer launch: A 15-month Subscription at the price of 12 months Subscribe to Wealth Creation Combo for your #GharkiLakshmi Pay Rs. 40,000 + GST for 15-months CTA – Get High Growth Stocks (Creative Attached)
Data
Story Telling with Data: Despite recognizing investing as a crucial path to financial freedom and security, women often remain in the background regarding stock market involvement. Even when they possess the means and eagerness to invest, there's a prevalent dependency, as it's commonly perceived as a domain primarily for men. Although the percentage of women investing in equities in India reportedly increased from 16% to 24% within two years, this figure remains significantly low in a country where women constitute 48.4% of the population. Upon analyzing this data against our customer base, the conclusion was evident. This insight served as the foundation for the #HarGharLakshmi campaign. https://www.hindustantimes.com/ht-insight/gender-equality/from-savings-to-investment-the-evolving-financial-outlook-of-indian-women-101678248550283.html
Solution
The email campaign's visual identity was meticulously curated. In creating a unique identity for the #HarGharLakshmi campaign, a design unit was developed featuring the footsteps of Lakshmi, representing both wealth (Dhan) and the women of our households. The background adopted our brand's trust-evoking blue hue, accented with gold, to infuse a festive atmosphere. A border resembling a Golden Door was incorporated to blend tradition with a modern touch, symbolizing the unlocking of opportunities for prosperity. To evoke the essence of Diwali, traditional flowers and fairy lights were included for a deeper resonance with the festival.
Results
The count of subscriptions under Women's Name grew 80% during the campaign period (6-12 Nov) compared to the same period in October '23. This uplift indicates a positive start of a change. Paid advisory services faced resistance, but increased conversions and shifting investor perceptions paved the way for equity investments and value-adding advisory services. With the #HarGharLakshmi, Equentis aims to inspire a wave of change, nurturing a future where women manage and actively shape the financial landscape of their homes and beyond.
