Summary
The new to investment or non-investor audiences are always on the edge of starting their journey but mostly unaware of how or where to get started. Investonomics came in as an initiative to educate such audiences and guide them right. We did this by bringing market leaders and experts to share their journey, ideas, and learnings with the community.
Challenge
The initial challenges the brand faced were low consideration and conversion amongst millennials and new entrants in Mutual Fund/Equity trading and the rising popularity of discount-based Zerodha, Upstox, etc in metros and tier 1 towns. Thereby up the brand metrics in consideration top of the box compared to the competition.
Objective
Investonomics 's main objective is to ensure long-term engagement with both new investors and usual investors; to add value in the lives of consumers on daily basis by making them financially well-sound and educating them to invest right. The brand had a low presence on digital and limited engagement with the consumers Investonomics was to solve this. Pull in new consumers and increase the engagement with existing ones, for higher recall, consideration, and conversion for different financial products.
Strategy
Investonomics adopts a Buffet approach, where the menu includes imparting Investment tips, explaining basic financial terms, encouraging investors from all walks of life to start investing and keep investing with a long-term horizon to reach high returns over time, and keeping the consumers engaged throughout. ICICI Securities launched the content platform 'Investonomics' for both first-time investors and for regular investors. It started with the Union Budget, with its Budget for Hope content ecosystem on its trading portal icicidirect.com, which was a massive success with it trending for 4 hours on Twitter on Budget day. ICICI Direct then developed special content around Mother’s Day, focused on women achieving financial independence. To impart financial knowledge to young audiences, ICICI Direct launched 'Find Your Mojo' in April, based on the fast-catching-up FIRE – Financial Independence, Retire Early movement. The content architecture for all the content initiatives was a mix of interviews with market experts, policymakers, thought leaders, and information nuggets made in a snackable format—all with the aim to make people earn more from their money in the most simple way. Launching Investonomics to impart financial know-how, it aspires to become a one-stop destination for all the investor education and up-gradation of the skills; keeping them engaged throughout.
Data
In a country of nearly 140 crore people, only about four percent invest in the markets. The number is abysmally low and Indians prefer to park their money in either low yielding fixed deposits or gold. Gold being a national obsession, passed on from one generation to the next. One of the top reasons people choose to stay away from the markets is lack of knowledge. Indians don’t know how to invest or where to invest. ICICI Securities saw this fear of the unknown amongst the people, an opportunity to make the market grow and get more and more people to just start investing, but investing right. In a revolutionary step, ICICI Securities took the content route to impart financial literacy, training, basic skill sets and DIY module to encourage people to plan their finances better with launching Investonomics.
Solution
Results
2.1 million visitors on the platform and 11K subscribers added in the year 2020 and 6.4 million views with 12K subscribers added in Jan-Aug'21. Through Investonomics the A/C opening numbers have been at par with targets and leading to amplification of the content ecosystem.
