The latest campaign references AMFI's iconic 'Mutual Funds Sahi Hai' campaign, while talking about the benefits of the new product.
The latest company to reference the iconic 'Mutual Funds Sahi Hai' campaign of the Association of Mutual Funds in India (AMFI), is Bajaj Allianz Life Insurance. In an ad that aims to bring investors' attention to the benefits of guaranteed return plans, Bajaj Allianz has launched a campaign, titled 'Ye Bhi Sahi Hai'.
The campaign uses slice-of-life situations to spread awareness about the importance of ensuring a well-balanced financial portfolio to achieve future life goals, like paying for a child’s higher education, repaying home loans, going on foreign trips, etc.
According to a press note by the company, the consumers today seek financial solutions to help them meet their long-term life goals, while combating precarious situations, such as stock market volatility and fluctuating interest rates. There is an imperative need to focus on investing in guaranteed return plans, which ensure these objectives are met with some certainty. These plans help balance out the risks in one’s financial portfolio, offering a certain income that one can utilise to secure one’s future goals, even while having lower risk appetite.
Over a video call, Chandramohan Mehra, chief marketing officer at Bajaj Allianz, tells afaqs! that the intent of the campaign was to bring investor attention to the benefits of guaranteed return plans.
"Yes, the reference to the 'Mutual Funds Sahi Hai' campaign was intentional. The idea was to deliver a credible and authentic advisory message. We wanted to bring about an impact a shift in consideration set for this product."
Mehra explains that when investors are looking at market-linked returns, they should look for a slightly less riskier stance. "Most investors are looking for a guaranteed return on their investment. We eventually started talking to a set of consumers, who didn't have a risk appetite to play in the market."
He adds that even if the customers invest in markets, in the context of a right asset allocation strategy, they need to optimise the investment by adding some exposure to guaranteed products.
"This is what we wanted to communicate with our latest campaign. For the execution to be relevant, we’re anchoring it on a peer-to-peer advisory. So, the message is relatable and relevant. While we’re doing this, we wanted to keep the essence of our brand intact. Broadly, this was the premise, as we conceptualised the campaign."
What is a guaranteed return plan? Mehra tells us that it is a product that eliminates any possibility of uncertainty of future income streams and also provides life cover. "We've seen that during volatile times, there is a shift in consumer preference towards guaranteed plans, because they offer capital protection and stable returns."
He points out that short-term interest rates have fallen over the past five years. "This product gives better rates than fixed short-term interest rates. After taking into account the debt post tax benefits, these products offer a guaranteed return on long-term life goals."
Some of these life goals could include things like retirement, education of children, or to even build a vacation/work from home (WFH) situation for themselves.
"Our TG is the affluent customer, who wants to reduce his risk factor when it comes to his investment portfolio." Mehra goes on to tell us that Bajaj Allianz is one of the most trusted brands in the market today and that he isn't worried about delivering the message to the audiences.
Mehra adds that on the back of the COVID pandemic, the brand has been seeing an increased adoption in the usage of digital services. It has been beneficial for the brand, as a whole.
Recently, fintech brand Dezerv also made a reference to the 'Mutual Funds Sahi Hai' campaign, with two tongue in cheek ads that used humour to get the message across.