Fintech platform ZET has unveiled its festive season marketing initiative ‘Magnet Diwali Double Dhamaka,’ doubling its rewards offering to over Rs. 42,000 for new credit card activations. The campaign, running from October 21 to November 3, 2024, marks an aggressive push in the competitive secured credit card segment during the crucial Diwali shopping period.
Marketing & Media Play
The campaign represents a strategic move in the fintech space, where players are increasingly competing for share of wallet during the festive season. ZET’s approach combines traditional credit card benefits with new-age digital offerings, targeting both aspiring credit card users and digital-first consumers.
Commenting on the campaign strategy, Manish Shara, Co-Founder & CEO of 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.”
Campaign Architecture
The promotion builds on ZET’s existing partnership with SBM Bank for the Magnet secured credit card. Key campaign elements include:
Value Proposition
- Double joining benefits worth Rs. 42,000+
- Premium OTT subscriptions bundle (Disney Hotstar, Sony LIV, Zee 5)
- Enhanced travel and dining offers
- Up to 10% rewards on major e-commerce platforms
Product Features
- Entry point: Rs. 5,000 FD
- 90% credit limit against FD value
- Up to 7% interest on Fixed Deposits
- Zero renewal fees
- No income proof requirement
- Guaranteed issuance
Target Audience Matrix
The campaign targets multiple consumer segments:
- First-time credit card aspirants
- Digital entertainment consumers
- Festive season shoppers
- Tier 2,3,4 city residents
- Credit-building customers
Media & Communication Strategy
The campaign appears to be leveraging a multi-channel approach:
- Digital-first communication
- Focus on value maximization messaging
- Emphasis on accessibility and guaranteed approval
- Integration of lifestyle benefits with financial product
Industry Impact & Analysis
The campaign launches at a significant juncture:
Market Context
- Growing demand for secured credit products
- Increasing financial inclusion initiatives
- Rising digital adoption in non-metro markets
- Heightened festive season competition
Competitive Landscape
ZET’s offering stands out in the secured credit card space through:
- Doubled benefits during campaign period
- Comprehensive digital entertainment bundle
- Focus on accessibility
- Zero annual fees proposition
Growth Strategy
The campaign aligns with ZET’s larger transformation story, having rebranded from OneCode. The company’s focus on financial inclusion through its digitized network of sales and financial agents indicates a clear strategy to penetrate deeper into non-metro markets.
Future Implications
The success of this campaign could influence:
- Future festive season marketing strategies in fintech
- Product bundling approaches in financial services
- Customer acquisition tactics in non-metro markets
- Digital-first financial product marketing
Brand Journey
ZET (formerly OneCode, registered as Vistas Technolabs Pvt. Ltd) continues to evolve its market presence, focusing on bridging the financial products gap in Tier 2, 3, and 4 cities through innovative solutions and digital distribution networks.