Summary
She is the Change We saw that the world of finance seemed complex, overwhelming and full of complicated jargon for countless women of our nation. Therefore, Kotak Mahindra Bank in collaboration with Team Tonic Worldwide decided to launch Silk Money Matters, a platform that simplifies the world of finance and imparts financial literacy for Kotak Silk's target audience - the average Indian woman.
Challenge
The campaign set forward a few clear objectives and challenges for the team: - Women have always faced challenges when it comes to growing and showing the world their grit, talent, and strength. But be it sports or business, in today's day and age the women of India are becoming champions, pioneers with groundbreaking thoughtfulness. But there also exists a faction of women who are not. - Reports tell us that 65% of the adult female population of our country operate with inactive bank accounts, and about 55% of them rely on their male counterparts for financial advice and management. - So, we had the opportunity to create a platform so simple and user-friendly that with every visit, women can learn all things banking and take money matters into their own hands.
Objective
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Strategy
- We had the foresight to understand that one of the biggest bridges to the gap was the simplification of the banking process and its terminology. So, Kotak Mahindra partnered with Tonic Worldwide and launched an interactive financial literacy platform called Silk Money Matters. - In that platform, we curated tutorials that reduced heavy jargon and thoroughly explained sophisticated financial schemes and procedures in an easy manner so our audience could grasp this information to all their capacity. - Through our campaign, we led our followers to the website where they then began their own journey of financial independence. We spoke about the notion of financial independence and gave followers an opportunity to explore our website to their own specific needs, for the information that suited their needs on SilkMoney Matters. - The featured videos elaborated on financial journeys, challenges and solutions of women from different perspectives and scenarios. Some of the noteworthy celebrities who were involved with the campaign were Rasika Duggal, Anny Divya, Manya Singh and Mandira Bedi. Industry experts also covered various topics like investments, savings and building a strong financial backup, through interactive webinars on the platform. Great minds like C.A Rachana Ranade, Chef Natasha Gandhi and Shweta Jain came together to educate and spread awareness about the happenings of the financial world that were relevant to our female audience. - By simply visiting the microsite, women could learn about personal banking and take money matters into their own hands to prove that #SheIsTheChange.
Data
- Over 65% of the adult female population of India were operating with inactive bank accounts, and about 55% of these women were reliant on their male counterparts to save, multiply and spend their money without being aware of any opportunities for growth, or dangers of loss of their own money due to lack of information. - With centuries of this patriarchy in place, that status quo of society had dictated the terms of money management, where men have absolute control. - This inspired Kotak Mahindra Bank to provide women with a map she can use to navigate through their finances, without feeling lost.
Solution
- Kotak Mahindra launched an interactive financial literacy platform called Silk Money Matters. The content we uploaded was relatable and easy to understand, as we aimed to simplify banking processes through simple content. - The objective of the website was to simplify banking procedures and the website was customizable to every individual banker. It featured tutorial videos that gave our audience a walkthrough of elaborate banking processes and procedures. - The website was launched on International Women's Day with a plethora of learning modules and inspirational videos of real-life change-makers like Mandira Bedi, Rasika Dugal, Anny Divya and many more. Our aim was to make the women of this country financially independent by making them financial literates. On our microsite, we introduced the Silk Webinars where the experts spoke about the various services and trends of the financial world and educate women about managing their own money. - Our goal was to make a community of financially independent women who then with their indomitable courage can bring the change.
Results
- The solution to the women of our nation managing their own finances truly resonated with our audience. Our mission of empowering women through the platform was accomplished. - The website has witnessed 37+K unique visitors till now. The introductory video that we had launched garnered up to 3.8 million impressions and over 774 thousand views on social media. We successfully reached over 2 million women with our video on the platform. - Moreover, our influencer video that featured recognizable faces amassed over 29 million impressions and reached up to 12 million women. The campaign got an engagement rate of 300,000 and 3 million reaches accompanied with an impressive 5 million impressions.
