"We are disengaging with excessive use of cliched festive discounts"

KreditBee is a fintech platform, which facilitates instant personal loans to professionals, where they can avail loans up to Rs 4 lakh as per their requirement. With a strong focus on online tech-based and data-centric KYC, KreditBee envisions solving the financial inclusion gap in the varied demographic segments of the country. The platform is a Series-D funded entity, backed by Advent International, Premji Invest, Motilal Oswal Alternates, TPG-NewQuest, Mitsubishi UFJ Financial Group, ICICI Bank and Mirae Asset Venture Investments. The company serves the credit and other personal finance requirements through its in-house RBI-registered NBFC - Krazybee Services (Systemically important NBFC), along with partnerships with over 10 renowned financial institutions. The company currently serves 10 million customers across the country.

In an interaction with Adgully, Ishan Bose, CMO, KreditBee, talks about the company’s recent campaign, ‘Har Tyohar Mein Sath’, along with some key insights and strategies that KreditBee is employing to engage with potential customers during the festive season.

What inspired the ‘Har Tyohaar Mein Saath’ campaign, and what are its core objectives?

This campaign draws inspiration from the realisation that festivals are far from being one-size-fits-all occasions. It challenges the ideal portrayals often seen in films and advertisements, highlighting that festivals transcend the stereotypical image of lavish decorations, extravagant gatherings, and sumptuous feasts. In fact, festivals are profoundly personal and multifaceted, with each individual defining what makes their season truly festive.

The central objective of this campaign is to underscore KreditBee’s genuine understanding and appreciation of the diversity that underlies how people celebrate festivals. We are dedicated to empowering and supporting individuals in their quest to craft unique, meaningful, and unforgettable festive experiences. Be it an intimate family gathering or any other reason for celebration, KreditBee stands as a reliable partner, offering financial assistance and resources to help individuals curate their festive season in a way that resonates with their individual desires and preferences. In essence, the campaign communicates that KreditBee is wholeheartedly committed to assisting people in realizing their distinctive and personal festive aspiration.

Could you elaborate on the target audience for this campaign? Who are you trying to reach?

The target audience for this campaign encompasses a broad and diverse spectrum of individuals. Firstly, it includes people residing in Tier 2 and Tier 3 cities, which are typically smaller and less urbanised than major metropolitan areas. These cities often have unique cultural and economic dynamics, and the campaign aims to connect with residents in these regions.

In addition to residents in smaller cities, the campaign also specifically targets younger generations residing in metropolitan areas. They represent a distinct demographic within urban centres, characterised by their diverse interests, preferences, and lifestyles. By focusing on this multifaceted audience, the campaign aims to reach a wide range of people from different backgrounds and walks of life. It recognizes that the way individuals celebrate festivals can vary greatly depending on their location, age, and personal choices.

Thus, the campaign's goal is to resonate with and offer support to people’s circumstances across the urban-rural spectrum and cater to the unique festive needs and aspirations of these diverse segments of the population.

How does this campaign differentiate KreditBee from other lenders in the fintech industry?

We launched the ‘Har Tyohaar Mein Saath’ campaign, which mirrors the myriad ways in which individuals celebrate festivals, recognising that these celebrations are heavily influenced by their unique circumstances and priorities. The campaign exemplifies KreditBee's resolute commitment to addressing the financial needs of consumers hailing from diverse backgrounds. This commitment extends beyond just financial support; it encompasses every aspect of people's lives and their moments of celebration.

Set apart from the conventional lending industry with its stringent entry criteria, KreditBee distinguishes itself through its all-encompassing approach. It seeks innovative methods to assess the creditworthiness of consumers, opening its doors to individuals and prospects from various geographical locations, demographics, income brackets, and sources of income. All the while, it remains effective and prudent in managing credit risk, ensuring that its support reaches a wide and diverse spectrum of consumers.

What channels and mediums are you utilising to promote this campaign, and why?

KreditBee has embraced a digital-first strategy, making it the primary communication channel. We are well-equipped to harness the power of social media channels. Our festive campaign entails the distribution of our video ad campaign and creative content across various social media platforms. We are committed to reaching audiences in both metropolitan areas and Tier 2 and Tier 3 towns, ensuring that our message resonates far and wide.

What strategies or tactics is KreditBee employing to engage with potential customers during the festive season?

KreditBee has recognised the limitations of traditional approaches to engaging with potential customers during the festive season. We are gradually disengaging in excessive use of the conventional methods of offering cliched festive discounts and sending generic greetings which lead to message fatigue among consumers. This not only causes the brand to fade into the background but also risks being perceived as a thinly veiled sales tactic, which can erode trust.

Our brand’s primary objective is to establish authentic and lasting relationships with users, without expecting immediate returns. Our strategy revolves around the identification of compelling campaign concepts across various platforms, all designed to nurture emotional connections with our audience, while staying true to the festive theme. In this process, building trust with consumers remains our top priority, and we place a strong emphasis on genuine connections rather than transactional motives.

How does this campaign align with KreditBee’s overall marketing and brand strategy?

This campaign aligns seamlessly with KreditBee’s comprehensive marketing and brand strategy. It centers on a message that underscores a personalized and inclusive approach to celebrating festivals, highlighting the unique and individual reasons that make a season truly festive. This messaging is in perfect harmony with KreditBee’s brand philosophy, which revolves around understanding and addressing the distinct financial requirements of its customers.

The campaign’s acknowledgment that festivals extend beyond idealized, grandiose depictions solidifies KreditBee’s commitment to authenticity and pragmatism. It positions KreditBee as a brand that genuinely comprehends the diverse, real-life ways in which its customers celebrate, in contrast to the stereotypical portrayals often seen in movies and advertisements.

In summary, this campaign embodies KreditBee’s overarching strategy of nurturing trust and fostering meaningful connections with its audience, with a clear emphasis on the brand’s mission to provide tailored financial support that meets individual needs.


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