Scripbox urges Indians to do more with their money on World Savings Day

India is a nation of savers. But saving money alone does not help beat inflation, meet rising aspirations, or cater to longer life spans. On World Savings Day this year, which falls on October 30th, Scripbox, India’s leading online investment service, launched a campaign to drive the compelling message that making your money work hard i.e. investing it, can help create inflation-beating long term wealth. The campaign is aimed at changing the "safe” behaviour of Indians of putting their hard-earned money in fixed return instruments such as fixed deposits and PPFs.

Why do we need to invest our money? Because we need to beat inflation. To drive this message home, the campaign took the example of high-consumption items such as pizza, burgers, and movie tickets. By comparing the price of these items in 2009 to 2019 and how much they would cost in 2029, millennials talked about how they would or would not be able to afford entertainment and dating in the future. Scripbox partnered with ScoopWhoop to deliver this message through a humorous and engaging video and article.

We know that women save but what do they do with their savings? The campaign also included a survey conducted by Scripbox on women’s Facebook groups with 400 participants to understand their investment quotient (IQ). The survey reveals that women are active savers, 80% of them save from their income but are ‘too safe’, preferring to put their savings in fixed income products such as fixed deposits, recurring deposits, PPF or just letting it lie in their savings accounts. The survey, as well as the results published on the Facebook groups, helped women rethink how they handle their money.

Manu Prasad, VP - Marketing of Scripbox said, “This World Savings Day, we actually said that saving money is no longer enough. To beat inflation and meet your goals, investing is a must. We used inflation in contexts that our target audience could identify with - movie tickets, pizza etc - and showed how costs would balloon in 10 years. The mix of relatable content and creative storytelling got us a lot of brand visibility - search volumes for the Scripbox app on the Play Store went up by 3.5x. We also ran another campaign in parallel - a survey to help women understand their savings habits, and get better at investing.”

The impact: The videos garnered more than 4 million views and a whopping 190k people engaged with it. The message to invest, and not just save, to beat rising inflation was well received.