We take a look at how L&T Mutual Fund makes the most of Instagram while breaking down complex financial concepts for youth to get acquainted with investments and budgeting.
When it comes to financial investments, the term Mutual Fund is well-known among people across age strata. However, even though young people might be aware of the concept, it is easy to assume that they are not as well versed with the working and understanding of it, giving BFSI brands plenty to communicate about Mutual Fund on social media platforms such as Instagram. L&T Mutual Fund is one such brand.
"It is easier to create awareness about Mutual Fund via Instagram as it gives an opportunity to post content as a brand on the creative lines rather than basic, simple forms, which will either scare off or feel risky to our younger audiences," Kailash Kulkarni, CEO, L&T Mutual Fund tells us.
L&T Mutual Fund Instagram Magazine
L&T Mutual Fund's objective on Instagram is to share youth-orientated content. To do so, they have turned their Instagram handle into a digital magazine, The Finance Magazine. It not only caters to the youth in terms of information dissemination but also makes investments look attractive to them.
"The idea is to talk to the audience in the language they understand about the things they are interested in," says Kulkarni.
Prominent content hooks on Instagram used by L&T Mutual Fund include conversations about investments and financial planning via food, fashion, lifestyle, and other topical trends. This not only makes it easier for people to understand the concepts but also gives a creative touch to a complex subject.
The company's strategy is to educate its target audience and build an investor pool by creating awareness in a manner that will appeal to its potential consumers.
Simplifying Mutual Fund
For L&T Mutual Fund, simplifying complex concepts is a big part of their Instagram content strategy. They have used the comfort of sipping wine and coffee in exotic locations to nudge people into considering the benefits of a Systematic Investment Plan. Investments have also been portrayed as a piece of cake, albeit when approached with caution and preparedness.
The brand also often leverages special holidays and trending topics to talk about investments. Occasions that are specific to the concept and warmth of families are used in this manner for these are relatable topics and intangible goals for someone looking at a secure future and happy life.
Participating in trending conversations and creating topical posts are a sure way to help brands increase engagement and gain traction. L&T Mutual Fund's Instagram strategy relies heavily on such curated posts. They use these to talk about terminologies and share educational lessons.
Instagram Grids can be leveraged by businesses to optimally use the space on their page to create a story. While every picture in the grid tells an individual story, together they are able to put forth a larger, stronger narrative. Here, they have used the grid to connect pictures with text in a foreign language, which translates to 'I invest in Mutual Funds'.
L&T's page offers many tips for handling one's finances. These tips are spelled out in creative and indirect ways, so they seem intriguing and give out the message very quickly. Their posts are often sprinkled with humour, memes, and GIFs, making such concepts less intimidating for the audiences.
Instagram Strategy for BFSI Brands
To stay visible and get eyeballs, many Mutual Fund brands are creating content around topics like secured future, retirement, love for travel, and car ownership, Kulkarni tells us. He explains how brands usually relate these to mutual fund investments, mainly through SIP in the content that is disseminated online. Often, these connections are indirect and aspirational in nature and presentation.
Talking about the L&T Mutual Fund's Instagram Strategy, he adds, "We are exploring content ideas, more on the creative lines, which will increase our connection with our audiences. We are planning to create relatable content with Mutual Fund terminology."
Creating content around investments comes with its own set of unique challenges. The brand has to continuously work towards ensuring that the topics are not presented in a drab manner. In the case of L&T, the company does so by innovating with trending and creative content that's visually attractive. Humour helps them keep it simple.
Talking about how other BFSI brands can grow on Instagram, Kailash Kulkarni says, “BFSI brands have the opportunity of being more creative on this platform and they should make the best use of it to connect with the consumers. They should create content around topics like — love for travel, things to do to have a secure future, things done on a daily basis, and content ideas around the love for food."
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