Do old brand strategies still work?
Question for founders & marketing folks: Can brands still rely on the same tactics and strategies that worked in the past, or do changing times demand new strategies?
Here’s the context: Our AUM share is growing (people with more money trust us), but our demat share is shrinking (fewer new accounts). The people with money are sticking with us, but many others aren’t opening accounts with us 😬. Most likely, the newer and younger, and people from tier 2 and 3 towns, are probably investing elsewhere.
The challenge is that once people pick a platform, they rarely switch. And we have constraints that our competitors don’t: We won’t advertise. We won’t offer account-opening incentives. Broking is cyclical by nature
So, how do you grow when you can’t play the traditional acquisition game? The obvious answer may be “content,” and we have significantly improved on it, but it’s hard to measure the impact.
If you were in our shoes, what would you do?