Kotak Mahindra Bank wants to catch them early. In a campaign to promote the Kotak Junior Account, a savings account designed to inculcate a habit of saving in children from an early age, the bank has been on a hunt for three of India’s next junior superstars, beginning 2014.
The hunt for Kotak Junior Superstars took the shape of a video based contest where kids needed to answer simple money related questions. The final 3 winners will feature in Kotak Mahindra Bank’s internet commercials.
The month-long contest that concluded on Feb 1 had created a dedicated microsite for Kotak Junior Superstars. And had been spreading the word through popular social networks. But, what’s interesting is that the bank leveraged popular mobile messaging app, WhatsApp as one of the platform for entry submissions.
I was informed of the same through an ad on YouTube a couple of days back where a mother is shown shooting her son answering money-related questions followed by the various ways to participate including via WhatsApp. You needed to save a given number into your phone contacts and then add to your WhatsApp contact list; send a message “Junior” to this contact and share your child’s video after receiving the confirmation message from Kotak.
Kids aged between 3 to 10 years could give their answers to any of the given questions related to money - what is money, where does money come from, what is a bank, what will you do with money that you save, when you grow up, how will you earn money, etc.
Here are some expert answers by the next generation of finance visionaries:
While providing information on the Kotak Junior account, the microsite also features the steps to participation and a video gallery of the submissions. In addition to WhatsApp, entries could be submitted through email or uploaded at the website too. The contest has been shared through the bank’s Facebook and Twitter page too.
With a microsite and the inclusion of WhatsApp to participate, the Kotak Junior Superstars video contest ensured that the participation process is very simple. Additionally, the contest has managed to create a database of phone contacts and email ids of parents with children aged between 3 to 10 years. Nevertheless, seeing their child as the new face in a bank’s internet commercial is a good enough incentive for a parent.
Besides, it is interesting to observe the use of WhatsApp for an online contest by a bank. Do you know of campaigns making use of WhatsApp in a similar manner, do add in the comments.