Were you aware that Reliance had its own mutual fund company called Reliance Mutual Fund?
Well, most people were unsure or doubtful, which is why the company went for a complete rebrand as Nippon India Mutual Fund. However, just like any rebrand, the major challenge was to not repeat the same mistakes as the previous brand name and to raise awareness levels about the newly established brand.
How did Nippon India become an engaging brand?
Nippon India Mutual Fund played it smart by deciding to use digital media and get the right audience interaction via online medium. The company tied up with DVIO Digital and ensured that the entire marketing process started before this brand transition happened, almost 2.5 years before.
What steps were taken by DVIO and Nippon to gain customers?
1) Videos and posts were actively posted on Facebook and other social media platforms, relating to the financial sector and connecting the mutual fund industry with human emotions.
2) The advertisements and marketing plans kept the finance technical terms out of the loop, making an idea simple in explanations and relatable to pop culture.
3) The logo was changed, where a new brand had to emerge which at the same time looked Indian and retained the previous brand’s trust.
4) It used a tagline called ‘Good gets better’ since people were aware of the brand change, they just had to be made aware of the perks of choosing Nippon.
5) DVIO ensured that Nippon CEO and President send out personalized communication to around 20 million people, giving each individual attention and informing them about this brand change.
6) Chatbots were used for customer service, feedbacks were asked and accordingly, the market strategy kept rolling out.
An effective yet efficient strategy that used end-to-end means in order to launch superb ideas is what Digital marketing is all about. Nippon’s use of it with the help of DVIO proves that simplicity and authenticity always win.