Branded content in audio is huge, but we should always diversify the channel strategy to balance: Ramalingam Subramanian of CoinDCX

Subramanian, Head of Brand and Communication, CoinDCX, talks in detail about the brand's focus on content marketing and how it is using a new-age content strategy to educate and engage with consumers

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Ramalingam Subramanian

CoinDCX, a crypto exchange brand, is winning over consumers through its new-age and relatable educative content strategy. And in order to do so, the platform has launched an informative and educational platform named DCX Learn, as well as collaborated with influencers such as Tanmay Bhat, Beer Biceps and new-age platforms such as Rusk Media and TVF. Most recently, it joined hands with Voot’s web series ‘Khwabon Ke Parindey’. The brand also created a lot of in-house content, partnering with news and media agencies such as Inshorts, CNBC, DailyHunt and the India Today Group.

While metrics such as followership, engagement rates, ROI, etc., are a few factors brands look for when collaborating with influencers, platforms and publishers; having a shared vision is the most important thing CoinDCX wants from content partners, Ramalingam Subramanian, Head of Brand and Communication, CoinDCX, told BuzzInContent.

“We have never been a brand that promises astronomical gains to attract people to crypto. This has resulted in high retention rates as well as high engagement among users. This hence is a key when we partner with anyone. A shared vision where the partner attracts audiences for the fundamentals of the asset class and believes in education.”

Sharing his knowledge around the right way to create memes, Subramanian, said memes, like any other format, can become exhaustive if we don’t bring innovation. While we can use memes to bring in humour and intrigue, we need to be sure of the end goals as well. There is a fine line between mockery and wittiness. We need to ensure that differentiation is well met with a clear focus on an end business objective.

Read on the interview to know what Subramanian has to say about meme marketing, challenges associated with content marketing in the crypto market and the brand’s overall content strategy.  

Excerpts:

How important and useful is content marketing for the brand when it comes to building awareness and educating consumers about cryptocurrency?

Education and awareness are key to the growth of the cryptocurrency industry. For us, it has always been a top priority and the main driver for us to launch DCX Learn, a free-for-all education portal for crypto and blockchain. Taking this further, we have created multiple series when it comes to crypto/blockchain education — be it on social media, working with communities, live sessions, partnering with educational institutions and ed-tech companies, or simply spreading the right message through our writing and commentary. We truly believe that safe investment practices will help grow the industry, and education is key.

Anything that involves money is looked at very seriously. If one resorts to offering serious content, it ends up becoming exhausting and boring to the consumer. How can one create content around a crucial topic involving money and also make it entertaining, engaging and educative in nature?

That’s true. Information overload and content fatigue are two challenges that every content creator or marketer faces. The approach we took with mass advertising was to build on an existing curiosity that is present at multiple levels in this asset class and then add a dash of humour to it to make it memorable. Hence it was logical for us to take the story-telling approach. Stories have proven over millennia that they have been able to educate without creating exhaustion. Be it Aesop’s Fables, Birbal’s stories, or Tenali Rama’s quirky moves. Hence the approach was logical, and we see it to be working.

Please tell us about your various content-led marketing initiatives. 

In March 2020, after the SC verdict, we launched the #TryCrypto movement in India with focus on adding 50 million Indians to crypto. We started with a three-point agenda: Making Education Universal, Making Crypto Safe, and Making the Experience Simple. Under this programme, we started DCX Learn, where we had courses curated by teams out of the London School of Economics, Global Blockchain Council, and ex-UN Members. 

We partnered with FounderIndia to create India’s first Crypto Daily on YouTube called Crypto Live. We partnered with influencers to further create video-based content. We were perhaps the first to partner with regional content when we associated with Lallantop and then, subsequently, with other properties. Our content-led initiatives had a very simple focus — education for all.

We have created a lot of in-house content, partnered with news and media agencies such as Inshorts, CNBC, DailyHunt and India Today Group. We also partnered with independent content creators and supported them in their educational programmes with long-term partnerships. Additionally, we partnered with content companies such as Rusk Media, TVF, and Voot Media to bring crypto into daily parlance. 

The brand is also associated with Voot’s web series ‘Khwabon ke Parindey’. Is the association limited to sponsorship? Would we see more such associations going forward? 

So this isn’t the first association but definitely a major deal because of the scale of operations. We have partnered with the likes of Rusk Media, TVF and others as well in the past. We are looking at normalising crypto and bringing it part of daily conversations. Our partnership with ‘Khwabon Ke Parindey’ will help us realise that dream. We are keen on working with similar partners who are aligned with our goal of crypto education for all.

What are the things you look at while collaborating with branded content partners such as publishers, platforms, influencers?

For us, a shared vision is something that we look forward to the most. We have never been a brand that promises astronomical gains to attract people to crypto. This has resulted in high retention rates as well as high engagement among users. This hence is a key when we partner with anyone. A shared vision where the partner attracts audiences for the fundamentals of the asset class and believes in education. Beyond this, we definitely look for metrics such as followership, engagement rates, ROI, etc. But they are not the primary or the only deciding factors.

How much of a believer are you in branded content through audio properties such as podcasts and music apps? Do you think the audio format is still new in India and it will take time for it to become a platform that can offer reach to brands?

Audio properties are huge. India has been a consumer of audio content in the form of radio for a long time. Moving this digital like other media was just a matter of time. Further, with options of curated content, self-serve options, podcasts have become really big. Should brands participate, yes for sure? However, we should always diversify the channel strategy to balance. 

Do you use content marketing only to engage with consumers or also as a means to fetch business leads? If yes, then what kind of content does that for you? 

Business goals define the approach for any channel of marketing. For us, business goals are clearly defined. We believe in the EASE Model. Education makes acquisition more effective. So yes, the end goal is definitely to get more users but the journey is through education and awareness. We have seen that the content creators that focus on fundamental education have also worked well in getting us users, to be it Beer Biceps or Tanmay Bhatt. 

What are the things to be kept in while creating memes for marketing needs? Don’t you think the format is overused?

Memes, like any other format, can become exhaustive if we don’t bring innovation. While we can use memes to bring in humour and intrigue, we need to be sure of the end goals as well. There is a fine line between mockery and wittiness. We need to ensure that differentiation is well met with a clear focus on an end business objective. Does it mean we curb creativity? No. In our experience, we have given an objective and focus area to our creators and then let them decide how they want to express themselves. This is the best strategy out there.

What are the challenges associated with branded content for your category?

Having enough knowledge around the category is the primary challenge that is restricting branded content per se. It’s a chicken and egg situation. This leads to a longer turnaround time; however, this is a much-needed investment that this category needs to make. This investment will reap huge dividends in the long term. 

Ramalingam Subramanian CoinDCX