Holy SIPs: How AMFI took financial education to the spiritual grounds of Maha Kumbh

New Delhi: Blending spirituality, devotion, and brands, the Maha Kumbh Mela witnessed more than 450 million devotees in just 45 days. Amidst the hassle of brands trying to market themselves, the Association of Mutual Funds in India (AMFI) made its presence felt by creating unique activations that focused on financial literacy and created awareness about mutual funds amongst the visitors. 

Creating one of the biggest outreach activations through experiential marketing at the Maha Kumbh, the association set up experience zones where Kumbh visitors could watch engaging videos about the basics of mutual funds and participate in interactive quizzes while recharging their mobile phones at charging stations. 

Sharing his thoughts on the activations by AMFI, Venkat Nageswar Chalasani, Chief Executive of AMFI, said, “The mutual fund campaign has been running for a long time, and people have come to associate with its message. Over the last several years, we have seen a significant increase in the number of people investing in mutual funds. 

While we have done some branding exercises earlier, our bigger aim was not only to create an interface for messaging but also to engage with people. The Maha Kumbh provided an excellent platform for this. We came up with interactive quizzes, where participants who answered the questions correctly were gifted a 12-year Hindu calendar, the Nivesh Panchang, highlighting auspicious days to start SIPs.”

The association also set up a visually striking installation in the form of a “Kalash” dispensing warm water for the people. The “Kalash” also embodied the message that even small savings over a long period can help people achieve their life goals or financial dreams.

When BestMediaInfo.com enquired about the efficacy of the Kumbh campaign, as devotees at the Kumbh are in a festive mood and mutual funds are not the most interesting subject to engage with at the venue, Chalasani replied that the efficacy of the campaign can be measured using four variables: meaningful interactions, accessible information, cultural resonance, and long-term awareness.

“The efficacy of the campaign was measured not just in raw numbers but in the quality of engagement and the long-term potential for intent in learning about mutual fund investments. We understood that pilgrims at the Kumbh Mela were in a heightened spiritual state, which required a nuanced approach. So, we trained our teams to connect on a human level, using culturally resonant messaging and respecting the sanctity of the event. 

We recognise that a spiritual gathering might seem an unconventional setting for financial education. However, the Kumbh Mela provided a unique opportunity to reach a vast and diverse audience in a concentrated timeframe. We believe that by fostering basic financial literacy, we have contributed to a more informed and empowered population, regardless of their immediate investment intentions.”

Explaining each variable, he said, “The sheer volume of one-on-one conversations in the Bharat Nivesh Yatra Bus indicated a genuine interest despite their spiritual focus. We also simplified complex financial concepts into easily understandable language and used visual aids, ensuring comprehension even in a busy, spiritually charged environment. 

By integrating our messages into cultural narratives such as Sahi Hai Mandali and Nukkad Natak and leveraging familiar symbols like the Kalash, we created a relatable and memorable experience. The campaign’s impact extends beyond the Mela, as we distributed information that pilgrims could take home and share, potentially influencing their future financial decisions.”

Deviating from the Maha Kumbh, the conversation diverted to AMFI’s long-running “Mutual Fund Sahi Hai” campaign that we all remember.

It’s important for brands to be consistent with their messaging. As per Chalasani, AMFI’s ‘Mutual Fund Sahi Hai’ campaign's enduring presence has proven highly advantageous through consistent brand recall and reinforced messaging, solidifying its association with mutual fund investing in India. 

He said, “Its evolution, incorporating new creative approaches and digital platforms, ensures continued relevance and engagement. The campaign's longevity has given it credibility and authority, establishing it as a trusted source of information and combating misinformation.”

 Under the umbrella messaging of ‘Mutual Funds Sahi Hai,’ various topics are communicated, such as myth-busting about mutual funds, SIP, long-term investing, volatility, KYC, and types of mutual funds, which keep viewers engaged and prevent boredom. Celebrity cricketers were onboarded to increase the impact of the messaging. Additionally, the campaign uses digital videos and in-show integrations in programs like KBC, Regional Bigg Boss, Reality Dance and Music Shows, and web series, ensuring subtle and well-received messaging.”

Chalasani further mentioned that the impact of the campaign is evident in industry growth, and mentions of mutual funds can now be found in pop culture, driving the shift from “Mutual Funds are subject to market risks” to “Mutual Funds Sahi Hai.”

“By consistently addressing information gaps and staying top-of-mind, the campaign has successfully transitioned from simple awareness to a reliable resource for investors, proving that its persistence is a strength, not a weakness,” he added.

It is important to note that AMFI was not present at the Maha Kumbh to promote a product like other brands but to promote financial inclusion for the masses. Considering how poor financial literacy is even in India’s urban centres, educating people from tier-3 and tier-4 cities about investing due to low literacy rates is an uphill task.

So we asked the AMFI executive how the association is bringing in financial literacy using marketing to rural centres of the country.

Chalasani answered the question by mentioning the challenge and said, “There is significant need and penetration in Jammu and Kashmir and Uttarakhand, and we have conducted specific campaigns in these areas to create more awareness about the importance of becoming a mutual fund professional or a mutual fund distributor. 

Historically, in India, the prominent language of communication in financial services has been English. However, at AMFI, we are working very hard to produce more content in Hindi and regional languages so people can understand financial concepts in their language."

Further into the conversation, Chalasani revealed AMFI’s media mix and said, “Most of our spends are on digital and TV. Print is largely used when we have a new creative, and now we

are looking at content in print. OOH, radio, and cinema are used tactically to increase frequency.”

AMFI’s marketing strategy is not only limited to TV, digital, and print; it is a hybrid strategy that also involves physical touchpoints. One of them is on-ground investor awareness programs. 

“Conducted as stand-alone events or in partnership with local newspapers, these Investor Awareness Programs (IAPs) gather 100-200 people in a room to provide presentations on personal finance and mutual funds. 

Additionally, we design campaigns targeting underserved communities, including women and young adults, tailoring our messaging and channels to effectively reach these groups. We also collaborate with vocational training groups, MF industry leaders, and educational institutions to amplify our reach and impact,” Chalasani resolved.

Ending the conversation on a positive note, Chalasani shared AMFI’s long-term goal to make India an investment economy, which has traditionally been a saving economy.

“Indians don't decide their savings based on the difference between their income and expenditure. Instead, they have an income, determine the amount they want to save, and then decide how much to spend. AMFI acknowledges this approach when engaging with investors and driving financial inclusion through targeted marketing.

Apart from mass media advertising, we create localised and accessible content, leverage multilingual digital platforms like our own website, and conduct on-ground initiatives such as Investor Awareness Programs to bridge financial knowledge gaps,” he concluded.