How ICICI Prudential Mutual Fund uses Quora through extensive content strategy to engage with audience

‘Learning never exhausts the mind’ ― Leonardo da Vinci. Much like this powerful statement, ICICI Prudential Mutual Fund aimed at sowing the seeds of knowledge in the minds of aspiring mutual fund investors. These individuals prefer Quora when looking for answers to their numerous, varied questions around mutual fund investments.

ICICI Prudential Mutual Fund’s initiative to be present on this Q&A forum/social media platform is to formulate insightful, holistic answers for the plethora of questions asked by not only aspiring investors but also seasoned individuals. This was to be the brand’s calculated attempt towards continuing its philosophy of ‘Tarakki Karein’ by simplifying the world of mutual funds, which is often misconstrued as too complex by society at large. Additionally, it was the brand’s conscious effort to reach out to digital natives as well as digital immigrants on Quora and help them in making smart decisions towards a financially sound future.

Idea

Quora can be considered as a smart amalgamation of evolved forums and social media platforms. Primarily being a medium of communication which was both simple and unique, ICICI’s idea was to ‘inform, educate and engage its audience’. It started simply by answering all the questions around the concepts of mutual funds, investments, and the mutual fund industry at large. Eventually, having populated its Quora Business Profile with answers, the brand saw an opportunity to merge text with resourceful illustrations. This translated into the addition of creatively designed infographics that supplemented the answers. The next logical step for the brand on Quora was to create a community by leveraging the feature of ‘Quora Spaces’. This community was to become a more interactive digital touchpoint, where the mutual fund company would not only talk with its audience base but also invite them to participate in a fruitful discussion replete with the sharing of experiences.

Execution

At the heart of the initiative was the drive to eliminate any and all gaps related to understanding mutual funds in the minds of the audience on Quora. This thought fuelled the execution process as ICICI Prudential Mutual Fund endeavoured to establish a resource hub of insightful and thorough information on the platform through its Business Profile.

The execution process followed four steps — finding the right questions to answers, creating holistic answers for them, employing a rigorous content accuracy check, and finally publishing the content online. This process benefited the brand in a two-pronged manner. Firstly, it helped the audience access information that was not only holistic but also accurate, and secondly, it strengthened the brand’s equity by adding to its credibility, which comes across as a guide for aspiring investors if and when they wish to make smart investment decisions.

ICICI Mutual Fund’s profile on Quora:

https://www.quora.com/profile/ICICI-Prudential-Mutual-Fund-4

Distribution strategy

The platform of Quora for ICICI Prudential Mutual Fund was more of an evergreen medium of communication. The brand did not see its initiative as a one-time campaign, which is why it did not consider a particularly pegged distribution strategy. On the contrary, the content dissemination on the platform happens through readers sharing the answers on their profiles as well as in Spaces Community Pages. In addition, the brand intra-linked its previously written answers within the new ones so as to help aspiring investors explore an expertly curated route when it comes to understanding mutual fund concepts while finding answers to allied concepts. As mentioned, the distribution strategy revolves within Quora, which serves the brand purpose of facilitating and helping aspiring investors become financially prudent.

Results

ICICI Prudential Mutual Fund started its journey on Quora in January 2020. It has been more than 10 months since then and the brand has grown from its nascent stage, leading to a robust presence on the platform with 14+ million views, 1K+ followers and 250+ A2A (Ask to Answer) requests monthly. The results can stand testimony for the kind of engagement and shareability that it has garnered in this fairly short amount of time.

The robust brand equity the brand has gained through Quora Business profile further boosts its presence of being among the few in the BFSI (Banking Financial Services and Insurance) sector who use Quora to create content and engage with the audience.

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