TATA Capital Housing Finance: Tata Capital Salaam Loans

Credits & Description:

Client: Tata Capital
Agency: Tata Capital Mumbai, India
Entrant: Tata Capital Mumbai, India
Idea Creation: Leo Burnett India Mumbai, India
Pr: Rediffusion Y&R Mumbai, India
Pr 2: Edelman Mumbai, India
Music Artist/Title: Http://doright.in
Chief Executive Officer: Saurabh Verma (Leo Burnett India)
Chief Creative Officer: Rajdeepak Das (Leo Burnett India)
Chief Strategy Officer: Dheeraj Sinha (Leo Burnett India)
Business Head: Oindrila Roy (Leo Burnett India)
Executive Creative Director: Vikram Pandey (Leo Burnett India)
Creative: Sagar Parab (Leo Burnett India)
Creative: Geo Joseph (Leo Burnett India)
Creative: Bhuvan Bali (Leo Burnett India)
Creative: Yash Ambre (Leo Burnett India)
Creative: Vipul Joshi (Leo Burnett India)
Brand Associate: Hemal Thakkar (Leo Burnett India)
Brand Strategy Director: Amrita Chatterji (Leo Burnett India)
Vice President: Saurabh Mankhand (Indigo Consulting)
National Creative Director: Navin Kansal (Indigo Consulting)
Client Services Director: Ameya Mukund Mohane (Indigo Consulting)
Account Director: Rohan Icchaporia (Indigo Consulting)
Creative: Priyanka Gopal (Indigo Consulting)
Creative: Anamika George (Indigo Consulting)
Creative: Shaili Contractor (Indigo Consulting)
Creative: Gaurang Bailoor (Indigo Consulting)
Creative: Yatin Tondalwalakar (Indigo Consulting)
Creative: Pankaj Bari (Indigo Consulting)
Social Media Manager: Naresh Nair (Indigo Consulting)
Creative: Sacchidanand Chauhan (Indigo Consulting)
Head Of Prodigious: Vandana Watsa (Prodigious India)
Producer: Akshay Multani (Prodigious India)
Producer: Anup Das (Prodigious India)
Film Director: Joyeeta Patpatia (Prodigious India)
Film Director: Mohit Israney (Prodigious India)
Creative Content Editor: Dileep Dharampuri (Leo Burnett India)
Website URL: http://doright.in
Social Media URL: https://twitter.com/tatacapita...
Social Media URL: https://www.facebook.com/tatac...
Describe the campaign/entry:
We created - The World’s first democreatized loan.
To make loans accessible to the people we changed the eligibility criteria from credit scores to human emotion. We created a product which shifted the power of loan approval from the hands of the banking system to India’s 200 million strong Facebook community, thus revolutionizing the loan approval process.
A move that created much needed impact by utilizing the strength of the online Facebook community.
Creative Execution:
Twitter influencers like Gul Panag, Ranvijay Singh, Rahul Bose, Saina Nehwal and Geeta Phogat encouraged the online community to caste their salaams (Likes) and help deserving applicants to get on the platform for a loan. Native content platforms such as ScoopWhoop and The Better India endorsed the innovative product garnering more support from prominent news portals like Business Standard & TOI to support the cause.
Gauri Sawant, India's popular transgender activist elaborated how Salaam Loans would benefit her, at a press meet. While the soft launch took place in March, the campaign was launched on April 2017.
After launch, RJ Gautam (one of India's most popular RJ's) from Radio Mirchi hosted an impromptu radio show for Salaam Loans. India's No.1 financial news channel CNBC India appraised Salaam Loans with the headline, "Tata Capital replaces the credit score with Likes". Publications across the country carried the news of Salaam Loans.
Tier 1 : The campaign generated over Rs 7 million worth of earned impressions across print media, electronic media, digital media and social media The revolutionary nature of the product got CNBC, country’s foremost
business channel to review the product.
Tier 2 and 3: We received overwhelming public support with close to 4 lakhs visit on website in last 2 months. Within the first 2 months of the product launch, we received 1054 loan applications 14 millions engagements with loan approvers on social media. Overall, we had 7 million worth of free impressions.
Using social media we united two disparate communities
Community 1: The underprivileged sections of the society who do not have access to loans
Community 2: India’s 200 million Facebook community in whose hand the brand wanted to place the loan approval process
Relevance: Social platforms build human connections. However, they also tend to breed slacktivism. We wanted to tap people’s penchant for standing out, by converting their most basic social interaction viz. “Like” into worthwhile tangible currency. We decided to leverage the power of social connection to democratize India’s loan approval process.
Approach: We created a platform (doright.in) where loan applicants could upload their video applications for Salaam Loans. Social media community was invited to review the applications and salute (salaam) the deserving applications. Every story that garnered a 1000 salaams were granted a loan within a week. This way, we put the power of loan approvals in people's hands.