LenDenClub, one of India’s leading peer-to-peer (P2P) lending platforms, recently established a brand new association with the Indian star all-rounder, Hardik Pandya. In this development, the Gujarat Titans (GT) skipper has been appointed as the brand ambassador by the company.
With this association, the company would like to raise awareness among young investors to invest in P2P which can bring very profitable returns and is quite easy to handle as well. The 29-year-old all-rounder has been seen interacting with the clients and telling them the importance of the investment in the right assets through its advertising campaigns.
SportsMint Media got an opportunity of interacting with Mr Bhavin Patel, Co-founder & CEO of LenDenClub. In this brief conversation, Mr Patel went on to talk about the importance of onboarding a sports personality as a brand ambassador and the company’s future ambitions.
1. What are the advantages of signing a sportsperson as a brand ambassador rather than a celebrity from any other industry?
Sports personalities tend to establish a strong emotional bond with their fans and followers as they share the experience with them during match time. This bond makes it easier for fans to associate the athlete’s attributes with the brand, thus creating a strong emotional connection. We recognize the value of this connection with our brand ambassador, which sets them apart from other celebrities. For our initial brand campaign, we aim to leverage this unique connection. For us, it was vital to reach out to a wider audience to promote awareness about P2P lending. In India, this could only be accomplished through the assistance of a cricket star due to the sport’s immense popularity and the iconic status of cricketers, who are looked up to by millions.
2. How can a fintech company cater to its audience by associating with someone from the sports field?
Whether a company is in the Fintech industry or not, the choice to bring on a brand ambassador who is from the sports field is driven by the desire to connect with the audience. People are already familiar with sports personality and their personality traits. When these traits align with the brand’s values, it can greatly enhance the brand’s reputation.
In the case of LenDenClub’s collaboration with Hardik Pandya, we selected him because his on-field persona, virtues, patriotism, and fighting spirit complement LenDenClub’s brand image. As we know, financial literacy is a challenge in India, and this partnership will help educate people about new investment opportunities.
3. Previously, fintech companies have onboarded multiple cricketers as brand ambassadors, does LenDenClub has plans to do the same in near future?
LenDenClub had a unique approach to its brand ambassador selection process. Rather than choosing a celebrity from a particular industry, we focused on finding someone who can personify the brand in every possible way. Thus, when planning to give a face to our brand, we chose someone who could embody our values and ethos, and represent them effectively. Therefore we don’t see multiple brand ambassadors in the near future.
In this regard, Hardik Pandya, a well-known cricketer, was an obvious choice after going through a list of celebrities/sports persons. Hardik’s never-give-up attitude and all-rounder abilities on the cricket field make him a hero in every possible way. Moreover, his life choices and how he made unconventional decisions, which paid great dividends, resonated with LenDenClub’s focus on unconventional asset classes and maximum returns with minimum risk.
4. Can LenDenClub’s FMPP powered by cutting-edge Artificial Intelligence and Machine Learning attract traditional investors?
LenDenClub’s FMPP powered by cutting-edge Artificial Intelligence and Machine Learning has the potential to attract traditional investors. The use of AI and ML in LenDenClub’s FMPP helps to make the lending process more efficient.
Traditional investors are often attracted to investment opportunities that offer a high level of surety and predictability to expected returns. Its usage of advanced technology in its lending process can help mitigate risk by diversification up to Rs. 1. Moreover, LenDenClub’s FMPP offers a low minimum investment amount, making it accessible to a wider range of investors. This can be an attractive feature for traditional investors who are looking to diversify their investment portfolio with a lower-risk investment option.