At a time when both the market and real estate are down, the brand’s new campaign aims to drive away common myths associated with gold loans.
Muthoot Finance, the Kochi-headquartered gold financing company, is out with its new campaign featuring brand ambassador Amitabh Bachchan. Shot before the lockdown, the videos titled 'Gold Loan is Good' address the common apprehensions associated with gold loans. The films, a collection of eight short edits ranging from 25-30 seconds, have been conceptualised by the brand’s creative agency ABM Communication and produced by Apocalypso Filmworks.
The 360-degree campaign touches upon different features that the brand offers to its customers, like they can now repay interest, or opt for top-up loans through the digital platforms of Muthoot Finance. The videos depict brand offerings, like customers can avail free insurance on taking a gold loan, zero hidden charges offered by the company, pre and part payment facility available for the customers, etc.
Speaking about the campaign, Abhinav Iyer, GM, marketing and strategy, Muthoot Group, says, “The idea behind launching the 'Gold Loan is Good' campaign is to open up the gold loan category in a big way by playing the larger role. It aims to drive away common myths and misconceptions usually associated with gold loans.”
He says that as per WGC estimates, India has nearly 25,000 tons of gold, and less than 10 per cent of it is monetised.
“The campaign aims to reach out to first-time loan takers by projecting gold loans as a smart choice that helps them monetise a dead or idle-lying asset. Moreover, we feel that in these challenging times, gold loan will increasingly emerge as a much sought-after credit option due to the ease, convenience and quick TAT associated with it,” Iyer tells us.
He adds, “In fact, the value propositions highlighted in this campaign are extremely pertinent not just for families and individuals, but also for small, medium and large enterprises seeking immediate financial assistance to resume, revive or kick-start their trades and businesses, post lockdown.”
Abhijit Basu, managing director, ABM Communication, says that the brief by the brand for the campaign was to accentuate and articulate ‘benefits’ of gold loan from Muthoot Finance, which have evolved over time, but might not yet be known well enough. “... benefits like free insurance, part release of gold, paying for as much as used, just like any utility, among others. And also, importantly, to ‘clear the mist’ around some important aspects...”
Speaking of the execution, he says that everything had to be planned and executed with precision, as “Mr Bachchan’s time is precious.”
“The agency and production team planned everything to the minutest detail. Mehboob Studio was hired three days prior to the shoot date to erect different sets. It was critical to have all the sets at the same place so that we didn’t lose time in travelling. Further, it was decided to give Mr. Bachchan only one costume; one that he has been seen wearing in some of the previous films as well. This enabled continuity across films, as well as saved time,” Basu shares.
In a couple of films released by the brand in the past, Bachchan has been seen wearing the same costume.
Talking about the ongoing national lockdown, Basu mentions, “Everything was going as per plan and months of work was about to bear fruit, when news of the lockdown came. Work came to a sudden standstill. Even though the shoot was done and some of the post-production had also moved forward before the lockdown came into place, some work still remained before the films could be finalised. The only option was to work from homes/home studios keeping social distancing norms and other government guidelines in place.”
He added, “The producers, director, editors and the graphics team, all put in a stupendous effort - from working remotely, then sharing very large files over the internet, lots of video calling, screen shares, at times abandoned calls because of network challenges, etc. It took longer than it usually would have, but everyone made an effort to get it ready for release. Luckily, it coincided with some relaxations to the lockdown also coming about.”
Currently, the integrated campaign has been launched on the brand's digital channels and cable TV. Soon, it will be screened in different languages in different regions.