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Kotak Mahindra Bank has launched a new brand campaign centred on the philosophy 'Hausla Hai Toh Ho Jayega' (With courage, anything is possible), indicating a strategic shift in its brand positioning. The campaign shifts away from conventional product-centric messaging to adopt a wider narrative that resonates with evolving consumer attitudes in India's financial landscape.
Kedarswamy Ravangave, executive vice president of marketing at Kotak Mahindra Bank, says that the tagline signifies far more than just a marketing slogan. "Hausla Hai Toh Jayega is not just a tagline or a promotional effort—it represents a mindset shift," Ravangave explains in an exclusive interview with afaqs!.
"India is going through massive transformations, especially in the BFSI sector, and Kotak is at the centre of this change."
The conceptualisation of the large-scale 360-degree campaign arose from observations of changing consumer behaviour in India.
Today's Indian consumers exhibit a sense of boldness and self-assurance. Ravangave notes that they no longer aspire solely to work at multinational companies; instead, they aim to build their own businesses, secure funding, and create unicorns.
This shift in consumer perspective, along with Kotak's positioning as a challenger brand, naturally resulted in the creation of the 'Hausla Hai Toh Jayega' philosophy.
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The creation process was methodical and extensive, spanning approximately seven months. "We spent months understanding shifts in consumer behaviour, moving from the traditional banking mindset of 'eligibility' to one of 'possibility,'" Ravangave reveals.
The brand undertook thorough research, evaluated multiple concepts, and collected feedback from consumers and employees prior to finalising the campaign.
Media strategy and IPL leverage
As the Indian Premier League (IPL) draws near, Kotak has crafted a thorough media strategy that highlights the importance of this prominent sporting event. "This is a big year for us, and you will see Kotak being more visible, bolder, and present across key properties."
Cricket plays a significant role in the bank's marketing strategies, with Kotak engaging in both the IPL and various other cricket tournaments, including the Champions Trophy.
However, Ravangave stresses that the bank's approach goes beyond mere visibility. "We are taking a more personalised and customised approach, ensuring our partnerships drive business KPIs rather than just brand visibility," he says.
The bank is collaborating with OTT platforms and technology companies to create solutions that integrate performance-driven marketing within these high-reach events. This approach reflects Kotak's aim to balance brand awareness with measurable business outcomes.
"The traditional-versus-digital debate is outdated. Everything is interconnected now. The focus should be on the consumer journey rather than media classifications"
Kedarswamy Ravangave, Kotak Mahindra Bank
Kotak has embraced what Ravangave refers to as a "through-the-funnel" approach, moving away from conventional media classifications. Digital advancements have made the mid-funnel equally important.
"We strive to engage in consumer conversations, prioritising digital feeds over traditional one-way communication channels such as newspapers," he explains.
When asked about the split between traditional and digital media, Ravangave dismisses the distinction as outdated.
"The traditional-versus-digital debate is outdated. Everything is interconnected now. The focus should be on the consumer journey rather than media classifications," he asserts.
The bank's marketing investments follow objectives of brand-building, business growth, and efficiency, with this particular campaign leaning towards upper and mid-funnel activities.
Content marketing and influencer strategy
"Unlike other categories where influencers can simply endorse products, credibility in BFSI cannot be rented—it must be earned"
Kedarswamy Ravangave, Kotak Mahindra Bank
Content marketing is integral to Kotak's overall strategy, especially considering the necessity for consumer education in the financial sector.
"BFSI brands often focus on financial education, which is essential given the impact of financial decisions on people's lives," Ravangave says.
To make financial content more engaging, the bank is launching Hausla Talks, a storytelling platform where real consumers will share their financial journeys. "This initiative will bring financial literacy to life through relatable, inspiring stories," Ravangave explains.
In recent years, there has been a notable increase in 'Finfluencers' online who provide content related to finances. These influencers, boasting substantial followings on their social media platforms, have become favourites among brands, particularly within the BFSI industry.
"Unlike other categories where influencers can simply endorse products, credibility in BFSI cannot be rented—it must be earned," Ravangave notes.
The bank's approach to the creator economy is guided by this philosophy, emphasising meaningful impact over transient virality. "We align influencer collaborations with measurable KPIs to ensure meaningful impact," he adds.
Industry trends shaping strategy
Ravangave identifies two key shifts in the BFSI sector that are shaping Kotak's strategy. A digital transformation that necessitates seamless customer experiences. "Legacy banks must evolve quickly to offer seamless digital experiences. Kotak was ahead of this curve with our 811 app, and we continue to innovate in this space," he says.
Second, a psychological shift where consumers expect banks to enable possibilities rather than dictate eligibility.
"Consumers no longer want banks to dictate eligibility; they expect banks to enable their dreams," Ravangave explains.
This shift influences everything from product design to customer interactions, with Kotak's new branch designs prioritising relationship spaces over transactional counters.
"Banking must move from being a gatekeeper of financial services to an enabler of financial aspirations," Ravangave observes, summarising the direction in which Kotak is steering its brand philosophy.