Today, every industry wants to leverage digital media to grow business. And the mutual fund industry is no different. So to understand how digital media is shaping investors’ choices, Cafemutual had invited Karl Gomes, Chief Fanatic at Fanatics, to speak about how digital media is transforming our lives. Winner of many prestigious awards at Cannes and Webby, Karl is a pioneer in adopting the digital medium. Karl gave some tips on how to make a lasting impact on investors mind.
Here are the key highlights of his presentation:
Simplicity
People tend to forget complex things. Simple things have better impact on our minds. You can draw an inspiration from Flipkart’s ad campaign which talks about basic human motivation.
Human beings don’t care about returns and numbers, they look at what will happen to their lives and how will the product help them fulfil their life goals. So keep your message simple.
Communication
Digital media can help you engage with your audience effectively. People share their experiences whether it is good or bad on social media. So you should try to respond to their queries/concerns as fast as possible. Try to make your conversation engaging by asking questions.
AMCs and advisers should try to connect with people through social media like Facebook, Twitter and Instagram. Also, you can create interesting tutorials on mutual funds. One way to do it is to use tools like gamification to engage with people.
Create community
Digital media provides a good platform to create a community of people who can share positive experiences about mutual fund investments. Hence, you should create a community of people having good experience with mutual fund investments. They can reach out to masses and evangelize the cause of mutual funds in India.
Try to find out ‘why’ rather than what and how
We are stuck in ‘what’ and ‘how’ but in digital it becomes important to understand ‘why’. Why are we trying to sell the product, why are we creating such a service? Answering why can help us solve our problems.
Support a cause
Tata Tea supported a cause on the importance of ‘voting’ with a tag line ‘If you are not voting then you are sleeping’. This philosophy became an instant hit among masses. If your purpose is served along with the cause, you as a brand can influence people. Digital media provides a very good platform to support such causes. Swachcha Bharat Abhiyaan is a recent example.
Brand should do the talking
ROI of the product will be positive only when your service is relevant, original and influences others to talk about it. Just like what Apple does when it launches a product. Apple truly defines it as having an awesome experience.