Show Me The Money
If the IPL is to the Indian marketers what Super Bowl has come to become for American corporations, then both the players on the field and the marketers off the field must be on their A-game throughout the season. Corporations don't shy away from shelling out millions of dollars for seconds worth of airtime to capitalize on these mega sporting events' massive viewership. This year CRED onboarded as the Indian Premier League's official partner, subsequently launching its latest campaign - 'CRED: Not Everyone Gets It', featuring multi ad films starring iconic 90s Bollywood personalities - Madhuri Dixit, Anil Kapoor, Bappi Lahiri, Udit Narayan, and Govinda. The ad-films feature these beloved celebrities auditioning for this very campaign and subsequently getting rejected by the producers, leading into the iconic punchline: 'Let's just do a simple voice-over'. ‘Not Everyone Gets It’ is the caption of these ad-films. The caption might also be a nod to how the app is a member-only platform where only those with a credit score of 750 or above can become members. With its self-referential and meta humour, the campaign was hailed by audiences and media professionals as the most brilliant stroke of marketing seen all year. Given the 8-second window that advertisers have to get their message across, CRED's campaign proved to be equal parts sensational and effective. Since the ad's release, the company has reported a six to seven times increase in daily sign-ups, which further backs up the effectiveness of the ad campaign.
Decoding The Formula
The advertisements work uniquely in this day-and-age where everybody has a short attention span and can't afford to give their undivided attention to traditional ads. However, CRED subverted the audience expectations by poking fun at itself. The in-house ads display the efforts made in a tongue-in-cheek manner where the celebrities' flamboyance and pizzazz are exaggerated, and a simple voice-over precedes their expertise. The usage of self-referential and deadpan humour ticks all the right boxes, making the ad an instant crowd favourite. The advertisements act as a caricature of these well-known celebrities and use their unique quirks to add an element of familiarity. Moreover, their over- the-top reaction to getting turned down by the judges who find their talent vivacious and showy is humorous and creates a jovial feeling to the overall ad. Madhuri Dixit's flustered flick of the cup, Alka Yagnik's suggestion to Udit Narayan of rapping their way to success, and undoubtedly, petty Govinda hunting down the phone number of the voice-over guy; these hysterical bites of comedy showcase the importance of end-tags in creating a long-lasting impression on the viewers. Amongst all the wit and humour, CRED effectively manages to convey its value proposition using a simple phrase: 'Pay your credit card bills, get rewards.', driving the message home.
A Good Score
The marketing campaign played a crucial role in forming the brand personality of CRED. CRED's brand personality is now viewed by audiences as simple, youthful and meta. By partnering with the most renowned cricket league globally, CRED established itself as a trustworthy and competent brand. This fintech company traces its origin back to a basic concept of trust; abiding by it, the company is now synonymous with securing a good credit score and receiving financial rewards. The app possesses a simplistic outlook with its convenient user interface and, at the same time is incredibly exciting and youthful. Kunal Shah, the founder of CRED abides by the 'Magician' brand archetype, with his ability to think outside the box and being trustworthy.
Credit Where It's Due
The brains behind the campaign are Ayappa KM, co-founder of Early Man Films production agency and content creator Tanmay Bhat of AIB fame. They expressed that the idea behind the premise was to simply showcase the annoyance and shock that would befall on these producers' faces if these Bollywood stars were to audition as their most over-the-top selves. Arpan Jain, executive creative director of Geometry Encompass remarks that audiences find it refreshing when celebrities allow brands to make fun of them. Marketers should showcase this lighter-side of celebrities more often to set themselves apart from the million other advertisements that take themselves too seriously. As traditional celebrity endorsements continue to flood the market, the audiences latch on to those rare campaigns that dare to experiment and challenge the status quo.
Edited by
Shivom Dixit - 3 BBA B
Harshita Manoj Jaswani - 1 BBA C
Khushi Varshney - 1 BBA A
Designed by
Lavesh Karwa - 1 BBA A
Comments