Table of Contents
- Why the CRED Marketing Strategy is a Success?
- What We Can Learn From the CRED Digital Marketing Strategy
- Why the CRED Advertising Strategy is Effective
- CRED’s Marketing Strategy: A Case Study
- CRED Advertising Campaigns
- Key Takeaways
Once you’ve developed a piece of content, distribution is the natural next step. Distribution refers to the use of earned, paid, and owned media to increase the reach of your digital content.
In this blog, we’ll be looking at CRED’s marketing strategy. The exercise of sharing, publishing, and marketing material on multiple social media platforms is known as social media content distribution. CRED might have generated this material specifically for social, or it may have been re-formatted and utilized.
Today, with so much noise in the content marketing industry, even high-quality material risks are getting lost in the mix. These days, social media has a significant role in disseminating content; let’s take a moment to go over what this means. Allocation will begin when you generate your content, regardless of the form of content distribution you choose. However, before you start your work, you need to plan where and how to publish and promote your material. Lack of a plan may squander your time and resources.
Consider the following content distribution statistics:
- Every day, 60% of marketers publish one piece of content.
- Every second, 952 posts are published on Instagram.
- Google responds to 3.8 million search inquiries every minute.
You can see here that there has been a significant surge of material in recent years, which has been greeted with declining demand. There’s just a lot of content with about 4.5 million blog entries written every day.
So, let’s get into the CRED marketing strategy!
Why the CRED Marketing Strategy is a Success
The concept of credit has been around since a long time now. It is an essential need when people have depleted cash reserves and need to use money. Earlier, banks used to offer credit to customers. Today, it is the credit card that rules finance. However, paying off credit card debts is one of the toughest things for any individual. According to CRED’s official website, “this is why CRED decided to come up with the unique notion of a platform that will help Indians pay their credit card bills on time while simultaneously offering them quick offers and benefits for doing so.”
Based in Bengaluru, CRED is a Fintech platform that allows customers to make credit card payments using its app and receive special discounts and other advantages online. CRED has also launched house rent payment alternatives, short-term credit lines, and CRED Mint, allowing lenders to lend their idle money to borrowers with good credit ratings at interest rates of roughly 9% per year.
What We Can Learn From the CRED Digital Marketing Strategy
A company’s advertising caused Rahul Dravid to lose his calm in a way that no other tough cricketer could. Many people have wondered, “Can Rahul Dravid become angry?” after seeing “Indiranagar ka Gunda” in CRED’s viral ad. What’s interesting is how a film that lasted less than 25 seconds was able to entertain such a vast crowd.
Netizens praised the concept of presenting a change in the public image of the 48-year-old cricketer. People who had never seen Dravid yell were taken aback by his dark side. Some advertising agencies failed to mention the commercial’s conception. Tanmay Bhat, the co-founder of comedy collective AIB, a prominent comic, and a YouTuber, was the man behind the fantastic script. Rather than adopting any ‘XYZ approach,’ the primary focus remained on the concept’s execution.
The overall concept was so admirable that it inspired numerous celebrities like Deepika Padukone to use social media to promote themselves in a similar manner. Police departments also used Rahul Dravid’s never-before-seen furious visage to distribute social media advice.
CRED made a transition from conventional to concept advertising. With CRED’s embracing of conceptual advertising, questions about how well-informed advertisements are produced have risen. Advertising is the only way to get your brand in front of the right people.
Why the CRED Advertising Strategy is Effective
This is because their marketing technique is similar to that of a carrier strike group; they produce results (in terms of marketing). Why is what they are doing correct? After all, CRED’s creator isn’t a first-time entrepreneur; he’s a seasoned pro in a related field who understands what he’s doing. Even if CRED fails, the amount of knowledge he will gain from it is immense. Remember what Bezos stated to investors about Firephone’s failure. Mr. Vijay Anand – The Startup Guy – emphasizes that you can’t seek P&L in the early stages when it comes to startups. He publishes a lot of fascinating startup-related material.
CRED employs a variety of marketing methods. Some are viral marketing strategies, while others are as straightforward as publishing simple finance blogs and rewarding visitors with cashback and discounts. But there are two elements that every plan has in common: distinctiveness and the capacity to raise brand recognition and recall.
CRED’s Marketing Strategy: A Case Study
CRED has been an associate benefactor of the Indian Premier League (IPL) for three seasons, and the majority of CRED’s marketing operations take place around the time the IPL begins. They plan social media competitions, advertising campaigns, and marketing strategies, increasing brand awareness and building trust among the general population.
CRED’s content marketing examples
CRED’s goal, as previously stated, is to make Indians financially knowledgeable and creditworthy. It accomplishes this by selecting posts on its website about credit cards, general finance, and fintech.
It’s CRED – On The Money series on YouTube features finance-related videos. And, being a curious man, Kunal Shah produces podcast-style material on themes such as money, startups, and trends as part of his CRED – Curious series, in which he converses with various experts and entrepreneurs.
Viral marketing is the practice of conducting brand-related promotional activities by utilizing current trends and memes to gain immediate attention.
Sending cakes: An existing user-based customer acquisition strategy
Consider this scenario: It’s a Tuesday, and you’re working your monotonous day shift job when you get a cake as a gift for paying your bills. Isn’t it wonderful? That’s precisely what CRED did. CRED attempted this client acquisition strategy in 2019, focusing on existing users’ coworkers.
CRED Campaign for Mega Jackpot Week
During IPL 2021, CRED released Mega Jackpot. The goal of this campaign was to provide people the opportunity to participate and win jackpots. CRED was awarded seven prizes during Mega Jackpot Week, including gold, Harley Davidson Fat Boys, brand-new iPhones for a decade, free flights for five years, a TATA Safari vehicle, a complete house renovation, and a Bitcoin!
Like many of CRED’s previous efforts, this one generated much interest on news networks and social media. CRED had also successfully capitalized on the bitcoin trend, as the campaign was launched when Bitcoin was outperforming and was a popular subject throughout the world.
Campaign for CREDibility Power Play
During the IPL 2021, CRED launched the CRED Power Play promotion, similar to the Mega Jackpot campaign. The notion was straightforward. Pay during the IPL game’s powerplay overs for a chance to receive a guaranteed 100% cashback on your monthly payment. The winner would also have the opportunity to be featured on the virtual fan box. CRED essentially pledged to pay one credit card debt for each IPL game.
Giveaway of a Mercedes GLC Coupe
CRED used its app to give away one of the most expensive automobiles to one of its lucky winners during Diwali 2020, in yet another viral master marketing maneuver. As a result, the slogan “The most profitable credit card payment app ever.”
CRED Advertising Campaigns
Advertising is a powerful, persuasive technique. CRED utilizes it to build trust and passion for their product before selling you what they believe you require. Given the tremendous expansion of the Internet, advertising has undoubtedly gotten more complex over time, and CRED has successfully utilized the full potential of advertising. All owing to its innovative approaches, subtle weirdness, and large budget.
- Great for the Common Good – A CREDible IPL 2021 Advertising Campaign<h3>
This campaign made India go insane when Rahul Dravid was cast as the “Indiranagar Ka Gunda.” In this campaign, CRED launched four different advertising spots. As is customary with CRED, the narratives depict celebrities in their most irrational states. At the same time, it’s delicately done and humorous. It included former cricketers like Javagal Srinath, Saba Karim, and Maninder.
Along with Jackie Shroff and Kumar Sanu, among others. Following the launch of this ad, CRED was the top trending topic on Twitter. Netizens and several well-known companies and celebrities praised the ad in one way or another.
Not Everyone Understands – A CREDible IPL 2020 Advertising Campaign
This campaign marked CRED’s first entry into television advertising. This advertising campaign emphasized the CRED app’s use case and the benefits of paying credit card bills using it.
It aired six ads in which Bollywood stars including Anil Kapoor, Madhuri Dixit, Govinda, Bappi Lahiri, Udit Narayan, and Alka Yagnik appeared. This campaign had a massive positive impact on CRED, resulting in a 700% increase in CRED App downloads.
- Content distribution is the process of publishing, promoting, and marketing your content.
- Through content distribution you make your content available to your audience through various channels and media types.
- CRED employs a variety of marketing methods. Some are viral marketing strategies, while others are as straightforward as publishing simple finance blogs and rewarding visitors with cashback and discounts. But there are two elements that every plan has in common: distinctiveness and the capacity to raise brand recognition and recall.
- CRED’s other remarkable strategies include existing user-based customer acquisition, CRED campaign for Mega Jackpot Week, campaign for CREDibility Powerplay, and Giveaway of a Mercedes GLC Coupe.
CRED is an innovative fintech business that attempts to shift Indians’ attitudes around credit cards and personal finance. It is now concentrating on the credit benefits niche to become the first to market in the sector. Today, the firm is doing a fantastic job of attracting clients by deploying cutting-edge digital marketing approaches backed by trusted investors and its out-of-this-world marketing plans!
On CRED, we’ve always prioritized your safety. To guarantee utmost security, we’ve compiled a short checklist for you to follow: Never give out your personal banking information, such as your card number, CVV, PIN, or OTP, over the phone, over text, or via email.
CRED is used to pay credit card bills. It is used in the form of a mobile app and is free to download on iOS and Android. Through CRED, you can streamlines the bill-paying procedure while receiving rewards for paying credit card bills on time.
CRED has grown rapidly in the past couple of years. It was launched in 2018, and it reached the unicorn club on April 6, 2021, when it closed its Series D round, raising $215 million.
CRED secured $80 million in a round led by DST Global that is expected to close by the end of 2020. In January 2021, the platform secured $81 million in a Series C financing. CRED secured $215 million in a Series D investment round in April 2021, valuing the Indian business at $2.2 billion and elevating it to unicorn status.
Content distribution involves the dissemination of content via different mediums in different formats.