Inside AMFI's Mutual Funds Sahi Hai: NS Venkatesh on Nurturing a BFSI IP

Social Samosa takes a look at the evolution of Mutual Funds Sahi Hai as an Intellectual Property over the years; NS Venkatesh, Chief Executive, AMFI shares what went in its inception & execution.

Launched in early 2017, Mutual Funds Sahi Hai is a means for the Association of Mutual Funds in India (AMFI) to create inroads into the consumer's mindset and probe them to consider mutual funds as part of their investment portfolio. This year, Sachin Tendulkar, MS Dhoni and Mithali Raj were roped by AMFI to further the intention to bring about behavioural changes.

Through the years, the campaigns have been conceptualised for AMFI by Wunderman Thompson South Asia. They feature small conversations, nudging people to consider mutual funds as a serious option.

This year, even though famous cricketers were a part of the narrative, they were shown to be regular people discussing finances with people they know. There was no hero-worship in the campaign, the makers say.

"We have not treated cricketers as celebrities, but have weaved them in our over-all campaign tonality. Cricket is almost a religion in India and cricketers cut across socio-economic strata. Getting them on board was a strategic decision taken to aid the category and create awareness amongst the common man at large, explains NS Venkatesh, Chief Executive, AMFI.

Leveraging Sports

This is not the first time AMFI has brought sportspersons into the fold of the campaign. Earlier, they had released TVCs featuring key Pro Kabaddi League players. The brand has, on multiple occasions, leveraged sporting events as a medium to reach audiences. However, getting cricketers, who are dubbed as cricket legends, onboard is a significantly big step.

Also Read: Sports marketing 2019: A year that was

"Some brands launch with celebrities and some get them on board later. It depends on the category, at what stage the brand is, and at the product life cycle."

A well-crafted communication strategy with celebrities can differentiate a brand and help achieve its objectives," Venkatesh tells us when asked about the timing of a brand getting a celebrity on board.

Reinventing Communication

The COVID-19 crisis and the nation-wide lockdown has left a cloud of uncertainty on the sporting events scheduled for the year. This is bound to impact the plans of a brand that just got high-profile cricketers onboard. Venkatesh calls it as a challenging time, stating that brands are reinventing.

"We have also geared up and are working on Plan B to connect with the consumers. We are taking a conservative approach and will continue our impetus on other events to stay relevant and connected with our audience," he says.

Inside Mutual Funds Sahi Hai

With Mutual Funds Sahi Hai, the consistent task has been to deal with myths in the minds of consumers head-on while keeping the tone simple and conversational. Over the years, the process of working on the campaign has become more dynamic and fluid, says Kishore Tadepalli, Sr. VP & Managing Partner (Mumbai), Wunderman Thompson, India.

"The category per se is very unpredictable as Mutual Funds are connected to market conditions. Given the category, sequential planning is no more a part of the plan," he tells us, adding that at any given point, the team has to work on multiple briefs, in sync with a flexible and adaptable system.

Changes Over the Years

Gone are the days when marketers used to draw annual plans. "Intense competition, changing consumer behaviour, and the marketing plan has become more modular in nature and flexible keeping the long-term perspective in mind. Plans happen on a monthly basis to tackle this and stay relevant," Tadepalli tells us.

On the brand end, changes include limiting of over-crowding and over-pouring of product details in their communication. They now tend to be short and precise. Digital is an important factor in the mix as most of the details and information is being disseminated via online platforms.

Also Read: Content Marketing Case Study: How TVF created Yeh Meri Family to educate 90s kids about Mutual Funds Investment

Quick Takeaways

Today, investors are seeking more information before parting with their hard-earned money. This has created a need gap that brands need to fill and agencies play a key role in understanding and helping them with. Wunderman Thompson's Tadepalli lists out two things agencies dealing with BFSI clients and campaigns should keep in mind:

• Strong digital network and AI are the two most important trends that should be used as filters in designing communication framework.
• The 30-second communication is just the tip of the iceberg. Any medium that will handhold consumers, be with them and guide them through the investor journey would hold the key.

From sports personalities to celebrities, AMFI has been working on making Mutual Funds an easy, accessible, and important concept. AMFI has also divulged in branded content, having associated with TVF's Yeh Meri Family in 2018. Over the years, AMFI has sculpted Mutual Funds Sahi Hai into an Intellectual Property that demystifies financial stability.