Franklin Templeton Investments has launched a digital-led integrated campaign, created by What’s Your Problem – WYP Brand Solutions Pvt. Ltd. for the ELSS category. E.L.S.S., which stands for Equity Linked Savings Scheme, is a Mutual Fund that offers tax benefits under Section 80C of the Income Tax Act.
According to the company, while an E.L.S.S. Fund also offers the additional benefit of the potential growth of equities, very few investors are aware about this category of Mutual Funds; therefore, it hasn’t really been part of their consideration set. When consumers think of tax-saving instruments, they typically think of traditional savings options like Life Insurance, PF, PPF, Deposits, etc., but rarely think of Mutual Funds or E.L.S.S.
The campaign sets to introduce and reintroduce the ELSS category to consumers who are largely either unaware of the category, or are invested in it but still don’t know the segment well. The objective was to get ELSS into their consideration set of investments and Tax Saving Devices.
Hammad Khan, Director, Servicing and Technology, What’s Your Problem Brand Solutions, explained, “We noticed something interesting about most of the existing investment options. Right from SIP to ULIP, we realized that each category had a very clear sound mnemonic to refer to. We’ve realized that once the consumer could start naming a particular category, he got comfortable with it and eventually started investing in it. For example, S.I.Ps started becoming popular when brands and consumers started referring to them as SIPs and understood the advantages of the category. The objective was to make E.L.S.S. a part of the consumers’ conversation, and therefore a part of their consideration set.”
Amit Akali, Managing Partner and Creative Head, What’s Your Problem, said, “The arrangement of letters in ELSS, therefore naturally lent itself to the WHAT ELSE campaign thought, where the spin is on the word ELSE. On the insight front, we all universally ask for more, right from discounts while shopping, to holidays and entertainment options. This insight naturally blended in with the thought of ‘What ELSS’, where the campaign urges investors to ask ‘WHAT ELSS’ from every investment they did, and see for themselves the additional benefits they could draw out for each rupee they invested.”
The campaign has been launched with a two-video series campaign on digital, supported by a microsite, social media amplification and ads in the print medium.
The first of the series of digital videos asks unsuspecting people about the investment instruments they use while making an investment. On answering, they are asked, “What ELSE?” (With the corresponding super asking – What ELSS – thus clarifying the pronunciation of ‘Else’ as ‘ELSS’.), therefore building in the thought of looking for more options. As their answers start reducing, the voice and super keep questioning, “What ELSS?” till the consumers finally get irritated and say ‘nothing else!’. At this point, the super appears – ‘Before you invest in tax saving instruments, #AskWhatELSS.’ There is no hard sell – the attempt is just to get it into the consideration set.
You can watch the video here: