Upstox (also known as RKSV Securities India Pvt Ltd) the digital stockbroking firm and official partner for IPL 2021 has launched a new campaign, “Start Karke Dekho”. The campaign, in a series of ad films that captures people in everyday situations, hence highlighting the ease of investing through Upstox.
The investment scenario, especially digital investing is a largely untapped market in India. With its campaign, Upstox aims to create awareness, boost financial participation, and foster an investment culture across the country.
Ravi Kumar, Co-founder & CEO, Upstox said, “We believe that there’s a lot to be done in terms of fostering a culture of investment in the country. The most important aspect of the campaign is that it gives first-time users confidence to start their investment journey. At Upstox, we want to refresh the way investing is done in India, just like IPL has reinvented cricket as a sport in India. We believe that our campaign ‘Start Karke Dekho’ will create a significant impact on the millions of young people who want to manage their funds better.”
The firm currently has 3 million customers. As stated by Kavitha Subramanian, Co-founder of Upstox, their customer growth has been three to four times for the last three years. The company expects this growth rate to continue in 2021. The vision is to make financial investing easy, equitable, and affordable to all so that everyone can do more with their money.
Upstox had beaten Groww to sign a deal with BCCI
As previously revealed by Sportsmint, Upstox had beaten competitor Groww to become the official partner of IPL. It is a three-year deal that will conclude at the end of IPL 2021. Meanwhile, Groww does have a commercial slot on streaming platform Disney+ Hotstar during IPL 2021.
“Upstox represents the aspirations of new India, just like the IPL, which is also synonymous with new India. We believe the partnership will undoubtedly bring us a lot more visibility than ever before,” stated Kavitha Subramanian, co-founder, Upstox.
Upstox has also witnessed a spike in mobile trading, with nearly 85% of its users placing regular trades on their phones. More than 75% of their total consumer base is under the age of 35, and there is a rise in the number of young people entering the markets. In 2020, women opened five times as many accounts as they did in 2019.
The marketing campaign has a multimedia approach that includes commercials on television, over-the-top (OTT) video streaming platforms, digital, and social media platforms. While digital and OTT platforms are employed to reach out to target segments in metros and big cities, television dominates the media mix for tier-II, III, and IV towns. Apart from TV commercials, Upstox is also mentioned during the games, when stats are displayed on television screens. The campaign will run till the IPL final on May 30.
“Given IPL’s mass appeal, we expect to achieve a whole new level of outreach into tier II and tier III towns. With the improvement in internet connectivity, nearly 70% of our customers come from small cities and towns,” said Subramanian.
The company is also backed by a group of investors including Ratan Tata( 1.33% stake), Tiger Global(31.1% stake), GVK Davix (2.54% stake), and Kalaari Capital Partners – 15.21% stake.