Festive Season Accounting Disney+ Hotstar Spends Are The Highest, Says Ram Deshpande
Lendingkart unveiled a new brand campaign, 'Lendingkart hai toh Business Is Good.' The campaign, featuring actor Rajkummar Rao as its brand ambassador, consists of three compelling films designed to resonate with business owners and entrepreneurs.
These films are set to air during the ICC ODI World Cup 2023, accessible on Disney+ Hotstar.
The campaign conceptualised by Tilt Brand Solutions employs the metaphor of 'atakna' or getting stuck, visually portraying the dilemmas businesses face without appropriate financial products. Lendingkart's technological prowess offers a lifeline for businesses by providing easy access to financial services.
In the campaign, Rao takes on the role of a compassionate observer who breaks the fourth wall to assist both on-screen and off-screen MSMEs in navigating their financial challenges with Lendingkart's support.
Lendingkart's Vision for MSMEs
Commenting on the campaign, Harshvardhan Lunia, Founder & CEO at Lendingkart said, “In this new age of Digital India, it is imperative for businesses to know that securing loans can now be done with a single tap on their smartphones, with Lendingkart. After the last few profitable quarters that we have had, we were interested in finding new ways to reach the masses and introduce our products made especially for our MSME friends. And what better time than the cricket season! In a country with so many people of diverse cultures and backgrounds, the love for cricket is a common language that connects all Indians. This campaign continues to fortify our mission of bridging the credit gap that the MSME sectors face.”
Ram Deshpande, Chief Marketing Officer at Lendingkart, further emphasised the brand's focus on supporting MSMEs, remarking, "We want to convey that we stand with all our MSME partners in the country, across the entire country. We just wanted to reinforce that aspect that we are there for the MSME."
Deshpande went on to explain the expansion of their product offerings beyond business loans, including personal loans for self-employed individuals, gold loans, and an upcoming credit card tailored to the unique needs of MSMEs. He also touched on the campaign's central theme of 'atakna,' reflecting the challenges businesses can face when financial support is lacking.
Cricket World Cup Partnership
Lendingkart's strategic partnership with Disney+ Hotstar as the digital streaming associate sponsor for the Cricket World Cup aligns with its mission to enhance visibility and brand awareness. As Deshpande noted, "Cricket and Cinema are the heartbeat of our country, and this time, Lendingkart will make the most of both."
He elaborated on their expectations from the partnership, stating, "We want to get our brand out there in front of so many MSMEs across the country. This campaign aims to make Lendingkart synonymous with the MSME customer segment."
Regarding the sponsorship with Disney+ Hotstar, Deshpande expressed, "The opportunity to associate with such a prestigious property like this was simply fantastic. This marks our first foray into sponsorship of this nature, and once we made the decision to align ourselves with cricket." Talking about the spends, he reveals, "The festive season is where we are accounting the Disney + Hotstar spends are at the highest"
Digital-First Marketing Strategy
Deshpande emphasised Lendingkart's digital-first approach, given their status as a fintech company deeply embedded in the digital realm. "We are born in the cloud. All our business is digital," he stated.
He highlighted the importance of platforms like YouTube, Instagram, and Facebook, which have proved effective in reaching their customer base. Deshpande explained that Instagram has become a key platform for starting the loan application journey.
Regarding traditional media, Deshpande acknowledged its relevance, especially in reaching MSMEs across the country. Outdoor advertising and print media continue to be a part of their marketing mix, with an emphasis on making efficient use of their budget.
The CMO also touched on the power of data in their marketing efforts, saying, "Marketing teams are so much better equipped with data and analysis now. It's not just collecting business or the demand, it's so much better nowadays that we are all as marketing decision-makers, equipped to sort of count and account for the last rupee."
Lendingkart's marketing strategy reflects their deep understanding of the unique needs and challenges faced by MSMEs. As Deshpande explained, their goal is to be part of the consideration set for MSMEs seeking financial support. Their algorithm, known as 'Cred8,' enables them to analyze the creditworthiness of MSMEs and provide loans to individuals who may not have borrowed before.
Deshpande also highlighted the speed and efficiency of their loan processing, with some loans disbursed in as little as 24 minutes, thanks to accurate documentation and cash flow analysis.
