Axis Mutual Fund SIP
Sleep In Peace.
To differentiate Axis Mutual Fund’s SIP offering from that of the 36 other players in the industry who have been advertising longer than the brand.
All SIPs from all mutual funds are essentially the same, as the process is the same for everybody. In a crowded market with older players having more advertising budgets and a parity product, our challenge was to make a new fund house’s parity product truly stand out.
The entire mutual fund industry, without exception, explained SIPs to the average investor by simply expanding the acronym – Systematic Investment Plan. This practice of feature-based communication, coupled with the fact that an unfamiliar acronym was expanded to its equally unfamiliar long-form as a way of explanation, presented us with a unique opportunity.
We started with the consumer.
What was he to gain from SIPs? What was his real takeaway? This consumer-first approach led us to think about the benefits of SIP and not how the industry defined it.
And Axis Mutual, a brand that stood for ‘relax’, understood the concerns that the average person has about his money. That his real takeaway was to not have to worry about that money.
We re-positioned the entire SIP sub segment from this benefit standpoint by rechristening SIP as ‘Sleep In Peace’. A term that immediately resonated with the consumer and in no time was quickly copied as an approach by pretty much every other player.
Axis Mutual applied for a copyright and today actually owns the dialogue on SIP from a peace of mind perspective.
Axis Mutual Fund was ranked no. 11 in AUM in Mar. 2017 – a jump of 17 places in 5 years. Over the last five years Axis Mutual’s SIP book has grown substantially and exponentially.
Systematic Investment Plan, anyone?
"No thanks. Some other time."
How about 'Sleep In Peace'?
We wanted to work with people who were hungry and you guys are ravenous. Ever so rooted to reality and ever so willing to go back to the drawing board till both parties are convinced.Rajiv Anand