Muskan Sabharwal’s Post

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Placement Coordinator | IIM Indore PGP'25

Imagine getting a CAKE as a reward for paying your Credit Card Bills. Fintech space today is more crowded that ever with over 3000+ players. Right from investing to managing your insurances- everything is covered. There are more apps than we require! Today, grabbing your customer’s attention is tougher than EVER. Your potential customers are flooded with information on Social Media- you have to offer a lot to make an edge OR you remain ignored. Let’s talk about CRED. We all read the headlines in February 2021 of CRED spending Rs 727 to earn a rupee. In 2022, their expenses jumped from Rs 619 Crore to Rs 1702 Crore. In 2021, CRED reported a loss of Rs 524 Crore. Their finances do give a shady picture but their marketing is DOPE. We’ve all seen phenomenal advertising campaigns. We aren’t talking about those today. In 2019, CRED sent CAKES to their customers. We aren’t talking about customers who did 7 digit transactions on there. We are talking about basic customers like you and me. Imagine sitting in your office on a boring Thursday and desperately thinking of the weekend when you get sent a cake because you paid your credit card bills on time! The Strategy: In order to get attention of people similar to the person using your app, you send the cake to their workplace so that 50+ people enquire about it and then install the app in the hopes of getting a cake too! And boom, you get viral on twitter too because who doesn’t love wholesome stories like these. Don’t we? CRED’s marketing is way ahead of it’s time! Pure Genius.

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DHARAMDEV CHHARIA

Research @ KPMG Global Services | HPAIR'24 | ex intern - EY • Magicpin • Max Healthcare | ex VP - Commpact MAIMS

1y

Wow!

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