There is a serious lack of new positioning ideas in the very saturated financial services category, and when your positioning itself is very weak, not even the most entertaining, charming advertising will save you
Okay, so we'll take care of you, we'll go out of our way to serve you, we'll do our damndest to be your partner, blah, blah, is now old fash.
Tata Capital, yet another wealth management 'expert', has gone way beyond this. In fact, they have positioned themselves as 'the Mother Teresa' of the financial services industry, so to speak. Their promise? 'We'll put you, the customer, ahead of our own interests.' In other words, it's 'You before I'.
Sounds like a lot of hot air, to be frank. Even the most unintelligent investor knows that no business venture goes full on charity. Granted, they may allow the leftover lunch from the office cafeteria to reach the underprivileged folks, but that's about it. This sort of desperate promise only highlights one thing: The serious lack of new positioning ideas in the very saturated financial services category.
Having said that, and despite my scepticism on this 'noble' promise, I must say the TV commercial is damn cute. It features a little Sardarji boy, as he quietly enters a dark room to check the present he's received for his birthday. And he discovers his gift is bigger than the one meant for his brother. A nice little soul that he is, the lad swaps the labels on the gift packs, so that the bada gift goes to his brother. The next morning when the gifts are being unwrapped by the brothers, our little hero gets immense joy out of watching his brother looking happy at receiving a bigger gift.
The voiceover says: 'Tata Capital. Kare wahi jo aap ke liye sahi'.
Yes, the ad is very sweet and endearing. And the two little Sardar kids are totally cool, and they make sure you will enjoy the ad on repeated exposures.
However, the foundation itself is very weak.
Financial services companies anyway carry little credibility in the marketplace, and therefore a promise that we put the customer's interests before ours is not only incredible, it's actually laughable.
Another thing: The commercial carries very poor branding for Tata Capital, and all that you will recall is the cute Sikh boys. So even that purpose is not being served out here.
Moral of the story: When your positioning itself is very weak, not even the most entertaining, charming advertising will save you.