Sharekhan’s MoneyFLIX: OTT for finance a relevant marketing play?
With 100+ videos on the platform, Sharekhan aims to leverage people’s love for movies to demystify ‘complicated’ finance-related concepts through the launch of MoneyFLIX, an independent finance OTT app. In conversation with Rahul Ghose.
Ever thought of investing in the stock market and wondered if only certain terms could be simplified for better understanding? ‘Finance’ as a subject seems complicated & possibly dull to many? Sharekhan is attempting to change this insight with the launch of MoneyFLIX, a financial movies platform.
MoneyFLIX will be aiming to educate users & demystify varied concepts on finance.
With MoneyFLIX, Sharekhan intends to combine education & entertainment to bring forth financial movies & attempt to simplify education on trading and investing. These movies will cover topics from the simplest of the Investing principles to complex trading strategies in a Bollywood-ish manner.
Rahul Ghose, Master Instructor with Sharekhan & Head of MoneyFLIX, shares that while there is a plethora of knowledge in the online space about finance, the information does not translate into learning owing to its complex nature & other factors.
But how do you package a financial movie?
Ghose explains that on MoneyFLIX, every content video is broken down with analogies. To make it more engaging, each video comprises Live characters, movie stories, in some cases multiple actors, and in some others, the videos are layered with animation to simplify a concept.
Presently, the platform has over 100+ videos with the duration ranging from 3 minutes to 30 minutes, intended to be doubled by the first year.
Aiming to resonate with both, the digitally native millennials and the not so millennials, the platform offers financial modules on many topics.
Highlighting that the array of content would be done in-house, Ghose elaborates that since the movies and modules put forth are for learning purposes, it needs to be authentic. “We aren’t looking to partner outside content at the moment. Since the information shared will be leveraged for the learning purpose of the customers, it becomes crucial to give out the right information to help the TG. Hence, the entire content will be done in-house.”
The platform has segregated the content in four categories – Trading, Investing, Personal Finance, and Mutual Funds. Each genre comprises an in-depth content plan, says Ghose.
In consonance to the segregation, MoneyFLIX will also bring short & long-format videos for each of the categories such as Fibonacci in Trading, Gold, PPS -related information in Personal Finance.
Engaging consumers & measuring RoI
“One of the ways via which we plan to keep our audience hooked is by putting up the content in a step-by-step manner with a gradation of concepts across genres,” shares Ghose.
He explains that content is structured in a way that users continue to get new videos in the same genre, aiding to add knowledge for the viewer on the subject. For example, if there is a movie on ‘How do you go about selecting stocks?’, the first of the introductory content series would be presented in a simple way targeted to even a newcomer for a better understanding. The next series would be on specific strategies associated with the ‘How-tos’ of selecting the stock.
The platform will also be launching MoneyFLIX bytes by the end of August 2020, to keep the users engaged.
While the production of new content might be halted, the platform is perpetually supplementing the videos with 3D characters to take the users through the modules.
But how will the platform measure success basis ROI? Ghose states that it will be basis the number of people viewing the platform’s content & the number of viewers moving on to premium subscriptions.
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Marketing Strategy: Driving subscriptions as a standalone app?
MoneyFLIX is positioned to be a standalone app. Ghose explains that there are two components to this idea, one is content & the second is delivering that content. The platform has many technical nuances aimed at improving the learnings on the subject and can not be done with third-party entities.
This includes features such as subtitles available in multiple languages, the ability to take notes with the voice feature amongst many others. Even in the near future, the platform will continue to remain a standalone app, states Ghose.
In terms of the plan to drive app installs & subscriptions, the platform has come up with a three-pronged approach:
- The first would be leveraging trailers for all premium movies that will be live on YouTube. Through this, the MoneyFLIX will attempt to bring interested viewers on to the platform.
- The free videos will be curated frequently. The idea behind these videos is to make finance simpler and interesting & give users a chance to sample content on the platform.
- Third, a pan-India campaign will go Live in a few days.
Apart from the above strategy, the platform will have an extensive influencer-outreach program. Ghose shares that influencers will watch the content snippets and go through the platform. Post which, they will weave their understanding of the platform with the differentiated offerings & features that might benefit their followers.
While the platform does not intend to collaborate with any OTT, Telecom, or any third-party entity, as of now, MoneyFLIX will be partnering with corporates, schools & universities. The intention is to help employees at corporate brands & even young people to plan their finances, says Ghose.
Sharekhan’s maiden edutainment platform eyeing to bring a digital revolution in financial education in the country is into this for a long haul, shares Ghose. The key focus areas for the platform in the coming 6 months, would be:
- To create more content to double the videos on the platform.
- To add more languages, preferably, Tamil & Gujarati, from a user perspective.
- To make the user-experience richer/better with each passing month.
“We ‘ll keep upgrading our platform to help it become like a one-stop-shop for any financial needs & knowledge from a learning perspective”, concludes Ghose.