Why is CRED spending so much on Ads ? Do they really need it ?
https://www.youtube.com/watch?v=fE0frCNDccQ&ab_channel=CRED
samosa
Stealth
5 months ago
because they actually have a good product
Aink, they don’t need advertisement as product is good and people should buy anyways. Right?
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We don't know how much they spend. But, to be honest, I love their Ads. It's so much creative
And if they are doing it, I am sure they must have had reasons
Let me know if you resonate with this.
Kunal has invested a lot in his personal PR as well. He has transformed into a influencer now and keeps giving random gyaan to any company that pays him. He was in Flipkart also I heard.
I think with all the bad monikers CRED has got, it has forced Kunal to do something at any cost and be relevant. And look he has money(plenty). So he can keep doing this for a bit longer.
So, I think it's about doing something to protecting his reputation. I strongly feel that. And these ads are creative though it endorses a fraud product.
Do you feel this?
PS. Product managers drool over him. They should find better inspiration than look for another fraud as if they are not looking fraudulent enough themselves already. We need a practical breed of PMs to inspire the kids
I wanna understand where this is coming from?
Why do you think the company is a fraud? How has the product defrauded anyone?
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Lik
Stealth
5 months ago
Yes, startups are supposed to burn money. And they are trying their best to achieve it.
Lik
Stealth
5 months ago
What do you think😉
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I've realised one thing- we hate when Indian startups do any good marketing. We dunk on them but if a US startup does it, it's great.
I keep seeing this time and again. Also, shows how most people here just don't get it ;)
samosa
Stealth
5 months ago
because we don't give a shit about US startups, of course we are going to question about our own country's startups
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error
Stealth
5 months ago
Tanmay bhat and team
error
Stealth
5 months ago
The og AIB
I’m not a big fanboy, but I’ll give my opinion. There are good people here and people do believe in the products they’re building
Maybe the products they market is very little. I’m not saying that whatever they do is the best approach to it but half the world will never even know about store and travel and mint and what not.
They purposefully don’t allow a lot of new users and have some criteria. The users they do allow don’t end up using anything else a lot of time and that’s just how it is. But they do have some other things lined up which should help
Other than that, from my opinion, they should be atleast looked up as some sort of inspiration on how to build an internet brand. Even if majority of people end up not liking the app or company, they know about it.
No, this post isn’t sponsored by them 😢
I have one question! What does CRED do? I mean, what is the key feature of CRED?
samosa
Stealth
5 months ago
they make ads, that's their USP
Kind of a weird USP of burning your own money to promote a worthless app.
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Rajmouli is literally wearing a luxury watch (could be worth crores) and is prying on about a discount 🤔
I think they just wanted to capture the typical Indian mentality to ask for discounts. We aren't called price sensitive market for no reason😂
samosa
Stealth
5 months ago
nice ad though
Why? All I have heard is that its coins are useless.. one problem I face though is setting auto-debit for my cc bills every month., can I do this using cred?
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SebastianFettel
Stealth
5 months ago
UPI is just a lever to hold on users on the platform. But when the app in itself is so shitty, idk.
No one is. Think of UPI as a consumer behavior you can leverage so that customers come to your app and you cross sell products.
UPI is the future dude! UPI is only gonna rise, and hence everyone wants a piece of it.
SoftApp38
Stealth
5 months ago
The very existence of this thread and numerous discussions across the internet about the ad itself is why this is a great ad. The ad might have costed them 3-4X of a normal ad, but the attention that their ads receive is 100X.
Also, you repeatedly seem to rub it in everybody's face that they're loss-making? Well, every company out there spends a certain amount X on marketing and branding and when cred is attempting to create an aspirational product in the Indian market (for once) , they would obviously need to go above and beyond. I may just be yapping here but maybe their performance marketing spends via channels like FB are not too much (compared to other fintechs) since their target consumers are not there.
Do they have a perfect product which we'd love to use? No
Do they have an okayish usecase which some of us use for convenience and coupons? Maybe
Have they built a brand that is aspirational in the long-run and have the best marketers in the India eco-system? Yes
samosa
Stealth
5 months ago
it would be best if you could come up with some numbers to justify the blind feelings
SoftApp38
Stealth
5 months ago
Bro ignored everything and held on to the one point I said I'm just throwing a guess 😭
Neither you nor me knows the numbers behind the campaigns. The guys who do know the numbers, have decided to continued to run these.
Why? Idk, maybe because it makes sense for them ROI-wise.
So unless you think you're smarter than all the marketers put together at cred who have access to the numbers, let's not try to "come up with some numbers" since each and every opinion on this thread is a "blind feeling"
BiryaniEnthu
Stealth
5 months ago
They made their point though!
Great ad!! I was shocked when he broke the camera 🫢
They will soon be launching loans through NBFC license or other tie ups, eventually the company’s brand should be penetrated into tier 2 and 3 cities for their growth towards profitability
Not sure about it but my answer is based on their Newtap Finance which is also owned by kunal shah
Not really, the design of the app is shit. It focuses so much on looking cool, but it gets nothing done.
I have a buttload of cred coins, completely useless.
I like something on cred travel, it's impossible getting back to it (no search, no filters)
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Let them waste money but you don't use cred that's all. Gameover
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