Why are CRED's advertisements so effective? | #Marketing #CRED | Summary and Q&A

TL;DR

Cred leverages a powerful word-of-mouth marketing strategy, utilizing social currency, triggers, emotions, practical value, public influence, and storytelling to create viral marketing campaigns.

Key Insights

• 🤑 Cred's marketing strategy revolves around creating word-of-mouth advertising and stimulating conversations about their brand.
• 💱 The company utilizes social currency, triggers, emotions, practical value, public influence, and storytelling to make their marketing campaigns go viral.
• 🫠 By enlisting the help of celebrities, Cred diversifies its ads to appeal to different target audiences.
• 💖 Sustainability of Cred's marketing strategy depends on their ability to consistently create engaging content that sparks conversations.
• ❓ Cred's success can be attributed to both their founder's reputation and their ability to leverage viral marketing campaigns effectively.
• 🫠 Word-of-mouth advertising does not imply zero spending on advertising; it means creating products and ads that people talk about organically.
• 😌 Cred's practical value lies in its ability to generate viral marketing campaigns, rather than offering groundbreaking product features.

Transcript

grid has a genius marketing plan so let me start this video by asking you a very simple question the question is that what do you think grid actually does please type out your response in the comments i would love to read it now according to me cred does two things so number one grid has a legendary founder kunal shah who has transformed the startu... Read More

Questions & Answers

Q: How does Cred utilize word-of-mouth advertising to build its brand?

Cred invests in creating products and advertisements that encourage people to talk about their product features, the founders, and co-founders, thereby generating word-of-mouth advertising. They have also enlisted the help of celebrities to diversify their ads and keep people talking about the brand.

Q: What is the difference between Cred's product strategy and that of Zerodha?

Zerodha focuses on displaying its product features and building a positive user experience. On the other hand, Cred's product strategy is more ambiguous, aiming to create buzz and generate conversation about the brand rather than product attributes.

Q: How does Cred use the STEPPS framework to create viral marketing campaigns?

Cred utilizes the elements of the STEPPS framework, including social currency, triggers, emotions, practical value, public influence, and storytelling, to make their marketing campaigns go viral. By incorporating these elements, Cred's ads become topics of conversation and stick in people's minds.

Q: Is Cred's marketing strategy sustainable in the long run?

The sustainability of Cred's marketing strategy is subjective. While their viral marketing campaigns have been successful in generating buzz and brand awareness, their long-term effectiveness depends on their ability to continuously create engaging and captivating content.

Q: How does Cred utilize word-of-mouth advertising to build its brand?

Cred invests in creating products and advertisements that encourage people to talk about their product features, the founders, and co-founders, thereby generating word-of-mouth advertising. They have also enlisted the help of celebrities to diversify their ads and keep people talking about the brand.

More Insights

• Cred's marketing strategy revolves around creating word-of-mouth advertising and stimulating conversations about their brand.

• The company utilizes social currency, triggers, emotions, practical value, public influence, and storytelling to make their marketing campaigns go viral.

• By enlisting the help of celebrities, Cred diversifies its ads to appeal to different target audiences.

• Sustainability of Cred's marketing strategy depends on their ability to consistently create engaging content that sparks conversations.

• Cred's success can be attributed to both their founder's reputation and their ability to leverage viral marketing campaigns effectively.

• Word-of-mouth advertising does not imply zero spending on advertising; it means creating products and ads that people talk about organically.

• Cred's practical value lies in its ability to generate viral marketing campaigns, rather than offering groundbreaking product features.

• The STEPPS framework provides a systematic approach for Cred to create viral marketing campaigns and increase brand exposure.

Summary & Key Takeaways

• Cred has a legendary founder backing it up, Kunal Shah, who has transformed India's startup ecosystem.

• The company focuses on creating viral marketing campaigns to generate buzz and awareness.

• Cred's main business strategy is to make people talk about their product and the brand itself.