The goal of the campaign is to boost financial participation, create awareness, and foster an investment culture .
Upstox claims that it added over six lakh demat accounts in the last quarter of FY21.
"Currently, we have nearly 3 million customers. Our customer growth has been three to four times for the last three years, and we expect the run rate to continue in 2021. Upstox represents the aspirations of new India, just like the IPL, which is also synonymous with new India. We believe the partnership will undoubtedly bring us a lot more visibility than ever before," said Kavitha Subramanian, co-founder, Upstox.
The multimedia marketing campaign includes commercials on television, over-the-top (OTT) video streaming platforms, digital, and social media platforms. While digital and OTT platforms are employed to reach out to target segments in metros and big cities, television dominates the media mix for tier-II, III and IV towns. The campaign will run till the IPL final on May 30.
"Given IPL's mass appeal, we expect to achieve a whole new level of outreach into tier II and tier III towns. With the improvement in internet connectivity, nearly 70% of our customers come from small cities and towns," said Subramanian.
In terms of trends, Upstox said that it has witnessed a spike in mobile trading, with nearly 85% of its users placing regular trades on their phones. More than 75% of their total consumer base is under the age of 35, and there is rise in the number of young people entering the markets. In 2020, women opened five times as many accounts as they did in 2019.