ZET's 'Double Dhamaka' pushes festive marketing boundaries with Rs 42K+ benefits

Fintech platform ZET has unveiled an ambitious festive season marketing initiative, the 'Magnet Diwali Double Dhamaka' campaign, running from October 21 to November 3, 2024. The campaign marks a significant push in the competitive fintech space, doubling the rewards on its Magnet secured credit card from the standard Rs 21,000+ to a substantial Rs 42,000+ in joining benefits.

The campaign represents a strategic move to capture the festive season momentum across Pan-India, with a particular focus on Tier 2, 3, and 4 cities. This aggressive marketing push comes as ZET aims to strengthen its position in the growing digital financial services market.

Speaking to AdGully about the campaign strategy, Manish Shara, Co-Founder & CEO, ZET, said, "Diwali is a time of joy and celebration, and with our Diwali Double Dhamaka offer, we want to make it even more special for our customers. With double the benefits, we aim to offer unmatched value and a festive experience like never before."

The campaign's value proposition centers around doubled joining benefits worth Rs 42,000+, which includes a premium OTT package featuring subscriptions to Disney Hotstar, Sony LIV, and Zee 5. Users can also enjoy enhanced travel and dining benefits, along with shopping rewards up to 10% on major e-commerce platforms including Amazon, Flipkart, and Myntra.

At its core, the product features an accessible entry point with a Rs 5,000 FD requirement, offering a credit limit of 90% of the FD value. Customers can earn up to 7% interest on their Fixed Deposits, while enjoying zero annual fees, no income proof requirement, and guaranteed approval.

The campaign's marketing strategy targets multiple consumer segments, including credit card aspirants, digital entertainment enthusiasts, festive shoppers, and residents of Tier 2, 3, and 4 cities, as well as customers looking to build their credit history.

The strategic approach rests on three main pillars. First, value maximization through double benefits timing, digital entertainment bundling, and shopping rewards. Second, accessibility through low entry points, guaranteed card issuance, and minimal documentation. Third, strategic timing leveraging the peak festive period with a limited-time window during the pre-Diwali shopping season.

From an industry perspective, the campaign launches amid growing secured credit demand, rising digital adoption, intense festive season competition, and an increased focus on financial inclusion. The campaign distinguishes itself through its benefit doubling strategy, digital benefits integration, mass market approach, and zero-fee structure.

ZET, which previously operated as OneCode (registered as Vistas Technolabs Pvt. Ltd), continues its evolution in the fintech space through a digitized network of sales and financial agents. The company focuses on bridging the financial products gap in non-metro cities.

The campaign's impact is expected to manifest in both short-term effects, such as festive season acquisition push and brand visibility boost, and long-term implications, including setting new category benchmarks and influencing product bundling trends.

"ZET's double benefits strategy during Diwali shows a deep understanding of both market dynamics and customer psychology. The combination of increased value and accessibility could set new benchmarks for festive marketing in the fintech space," notes AdGully's marketing analyst.

The campaign represents a significant evolution in fintech marketing during festive seasons. Its success could influence future marketing strategies in the sector, particularly in how brands package and present secured credit products to the mass market. As the financial services landscape continues to evolve, ZET's innovative approach might well set new standards for customer acquisition and value proposition in the industry.