Offline discovery and rewards platform Magicpin’s latest ad featuring actor Vijay Raaz is a direct dig at Cred's viral campaign with former cricketer Rahul Dravid. Magicpin targeted Cred’s rewards programme, which gives ‘Cred coins’ to users paying their credit card bills via the platform. The Magicpin ad has a setup and execution evidently similar to the Cred and spoofs ‘Cred points’ as ‘Bread points’.
Cred’s ad has been the talk of the town lately. But Magicpin took no time to go head to head with Cred with the ad derived from the insight that most Cred users have lakhs of points but don't seem to know how or where to use them.
The Magicpin ad:
The ad shows that Magicpin has a far wider range of options for their users to use points. It follows the straightforward approach to how points are valued: 1 point is always equivalent to 1 rupee. This sounds like it should be an obvious idea, but isn't as common as it ought to be. From a consumer insight POV, there is an instinctive equivalence between the points and real money, which increases the ‘delight’ users feel every time they earn points.
The ad contrasts Vijay's down-to-earth, Hindi-speaking, plainspoken persona with the fancy tone and tenor of the Cred ad. With this ad, Magicpin is positioning itself as the down-to-earth, ‘Asli Savings’ option for everyone.
When has the internet not liked ad wars? During the weekend, the internet kept buzzing with people commenting on Magicpin’s takedown of Cred’s ad. While some supported the witty take at Cred, others found it unnecessary. While the strategy to take a dig at Cred’s unclear reward point is a smart move, the ad doesn’t really bring out what Magicpin has to offer to the consumers other than talking about its rewards points and pitting it against Cred’s rewards system.
Backed by humongous fundings, the startup ecosystem is at times called out for lavishly spending big bucks on onboarding celebrities and buying expensive media to attain popularity.
The current Magicpin advertising campaign is being promoted across television, digital, print and radio. The ad has garnered over 48 lakh views on YouTube since its launch on April 16, 2021.
The brand also released a print ad as seen on HT City Delhi’s edition:
A user tweeted:
Shots fired at the CRED ad. But again, this ad doesn't really show what magicpin does. https://t.co/xZjHP3OfbX— MSaraswathy (@Maamitalks) April 16, 2021
The day the Magicpin ad was released, Kunal Shah, Cred’s Founder took to Twitter, and posted, “Mocking someone is accepting lower status”. While he did not take Magicpin’s name, but it was quite evident for whom the post was.
Mocking someone is accepting lower status.— Kunal Shah (@kunalb11) April 16, 2021
He went on tweeting, “If a CEO gets deeply involved in reversible decisions, it’s either due to incompetency of the team or insecurity of the CEO.”
If a CEO gets deeply involved in reversible decisions, it’s either due to incompetency of the team or insecurity of the CEO.— Kunal Shah (@kunalb11) April 16, 2021
The ad film is made by Songfest, the agency led by music director Gaurav Dagaonkar.
For the record, the Magic Pin App provides its users with offers on online shopping, electronics, fashion, restaurant food, beauty, entertainment, travel, technology and more.