'Upstox’s commitment to ethics makes it a great partner for IPL'
Upstox Co-founder Kavitha Subramanian noted that the IPL campaign tries to create a message for youth to take their finances seriously & realise that the process is not as complicated as it seems
Despite its aggressive foray into the global business scene to rise as the next superpower, India seems to be struggling when it comes to financial literacy among its citizens. According to a 2020-research conducted by the Global Financial Literacy Excellence Center, only 24 per cent of Indian adults are financially literate. This creates a big challenge for the rising discount broker app segment in the country, which is actively trying to catch the fancy of the young Indians. To tackle the issue, the country’s second-largest stockbroker platform, Upstox has struck an interesting partnership with the ongoing IPL season.
With an aim to expand the financial literacy base of the nation and get more people on their platforms, the brand has come out with a robust 360-degree marketing plan as the official partner for IPL 2021.
Speaking about the same, Upstox co-founder Kavitha Subramanian shared, “While there has been almost a 100 per cent rise in the number of people participating in equity investments, the average still stands at 4 per cent in India. The reasons can be many for this; either the people don’t find financial services interesting or find them too complicated. Upstox aims to change that and get Indians to make smart investments and financial decisions. And what better than IPL to reach out to them!”
She added that what makes Upstox a great partner for IPL is the brand’s commitment to ethics, just like the league has been showcasing. “Cricket is a game of ethics. There have been so many instances of players leaving the field even when an umpire gave a wrong decision in their favour. IPL, despite being a different format, I believe, represents the same ethics to the youth of India.”
The brand released a two-film IPL campaign last week, with the central message being it is easy to invest using Upstox.
Subramanian noted that the campaign tries to create a message that prompts the youth to take their finances seriously and also realise that the process is not as complicated as it seems. The campaign is complemented well by Upstox existing and developing “how-to” videos that guide a new customer in using the platform and understanding the financial language.
“We are in it to make financial services and forecasts interesting. With our marketing campaigns, we are trying to simplify the jargons that this industry is mostly associated with,” she highlighted.
The video campaign will run dominantly on TV and digital platforms. Along with the matches, the videos will also run on all entertainment and news channels in 9 languages -- Hindi, English, Marathi, Gujarati, Bengali, Malayalam, Kannada, Tamil, and Telugu.
“The multimedia marketing campaign includes commercials on television, OTT, digital, and social media platforms. While digital and OTT platforms are employed to reach out to target segments in metros and big cities, television dominates the media mix for Tier-2, Tier 3, and Tier 4 towns. The campaign will run till the IPL Final on May 30,” the brand shared in a press statement.
Apart from the video campaign, Upstox is also participating as ground sponsors for the tournament. “We will be giving out many awards to the players during the season. We are also activating our social media channels with interesting and engaging posts,” Subramanian shared.
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Subramanian signed off saying that they are not trying to compete with any other platforms in the space as there is just 4 per cent population using these apps. “We are already the second-largest player in the space. From one million active users in June last year to three million now, we are showing steady growth. We want to build a compelling outreach and trust within the existing and new users. The industry has a lot of scope to grow and we want to partner in that.”
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