GJEPC has partnered with Times Studio to create six videos that promote gold investments and diamond gifting, but instead of using emotional appeal, like jewellery ads, they use humour to make a point about financial realities
Most jewellery ads feature tears, but the GJEPC has chosen laughter to do the job. The Council has commissioned six promotional videos to promote gold investment and diamond gifting, but unlike traditional jewellery ads, these do not use sentiment to appeal to the viewers’ hearts. Instead, the videos employ humour to reach the consumers’ minds and make some practical financial points.
The Times Studio, a digital video content company of the Times group, has created these six videos for GJEPC as a follow-up to the two created initially. The Council tested the waters with the first two videos, and the promising response led to latest six. Three of these six videos promote gold investment to buffer life’s big expenditures. The other three promote diamond gifting as the most enduring, financially sound indulgence for life’s landmark events.
THE VIDEOS
Three of the videos that promote gold investment feature varied age groups.
The first video shows a mature couple, in their 30s, dealing with an unexpectedly large bill for a hospitalization. To their dismay, their insurance does not cover the entire bill. However, the voiceover says that gold is an investment that can meet unforeseen expenditures like hospital bills.
The second video shows a similar, almost middle-aged couple planning purchases to furnish a new home. The video conveys that whether it’s imported furniture or quality furnishings, gold can help fund planned expenses like these as well.
The third video shows a father exploring higher education options for his teenaged son. The sale of other tangible assets, like land and property, can fund only so much, while gold can easily be used for cash to fund better options in important expenses like higher education. The other three videos promote diamond gifting over spending on indulgences like designer clothing, cars or gadgets to mark life’s big occasions.
The first video shows a young couple, with the husband announcing that he has a big surprise for his wife. Since it’s a big and important surprise, she expects diamonds, but is disappointed to find it’s just a dress. The husband’s big romantic surprise would have been much more powerful if it were diamond jewellery.
On diamonds, we wanted to emphasize that unlike everything else in one’s life, which perishes, a diamond is truly forever and is the ultimate gift of love. On gold, we wanted to emphasize the importance of gold in your life and how it can help in any and every situation as it is probably the only asset class that is risk-free
– COLIN SHAH
Vice Chairman, GJEPC
The second video shows the husband gifting his wife a new camera, but there are newer, more advanced models of the same camera in the market. The wife’s delight turns to disdain and there is no pleasure in the gifting.
The third video shows the couple gushing over their new car. But the neighbour drives up in the same car and reminds them that he has a better equipped, upgraded model. The wife’s pride in their swanky car is dashed and the joy of the acquisition evaporates instantly.
The idea was to try a tonality very different from typical jewellery ads – the appeal to emotions, tradition, the focus on relationships and the generally warm and fuzzy feel. As the Council, they wanted their communication to look different, so we chose humour
– PUNIT SHETH
Senior VP, content and creative, Times Studio
THE THOUGHT
Punit Sheth, Senior VP, content and creative, Times Studio, explains what the challenge was before them. ‘When we met the GJEPC, we learnt that the younger generation was losing faith in traditional commodities like gold and diamonds. People today are more inclined towards experiences, their choices are more brand-oriented, and they are less keen to buy jewellery. But gold and diamond are extremely liquid in nature and can be encashed quickly. So we needed to figure out how to make gold and diamonds contextual and relevant to the young-but-settled consumer for occasion gifting and investment.’
Colin Shah, Vice Chairman, GJEPC, explains what they were trying to achieve with the videos. ‘We at GJEPC were trying to create awareness on the various relevant reasons a consumer should buy diamonds and gold. On diamonds, we wanted to emphasize that unlike everything else in one’s life which perishes, a diamond is truly forever and is the ultimate gift of love. On gold, we wanted to emphasize the importance of gold in your life and how it can help in any and every situation as it is probably the only asset class that is risk-free.’
However, the Council was keen that its communication not look like that of jewellery brands. The aim was to motivate the consumer and benefit the industry in general, much like the ‘mutual funds sahi hai’ campaign. ‘The idea was to try a tonality very different from typical jewellery ads – the appeal to emotions, tradition, the focus on relationships and the generally warm and fuzzy feel. As the Council, they wanted their communication to look different, so we chose humour,’ explains Sheth. ‘We wanted to convey financial practicalities and the harsh realities of life, but through the lens of humour.’
Shah adds, ‘We tried to break the clutter by bringing some humour into the ads so that they catch anyone’s attention.’ He also says that featuring various age groups in the videos – from middle-aged parents to young couples – is a way of reaching out to diverse consumer groups. ‘With the style and the content of the videos, we are trying to reach out to all ages, varied target groups, as the message is generic in nature,’ he adds.
THE STRATEGY
The videos, says Sheth, present situations in which gold can bail you out more quickly than other investment options. The other message, which the diamond videos convey, is that of investing in diamonds as a more thoughtful gift than depreciating assets like phones.
Hence, says Sheth, the six videos depict situations in which an asset class has failed. ‘The life situations depicted in the gold investment videos are in the 5-6 lakh or 10-12 lakh price points, which can be managed through investments like gold. The diamond videos portray diamonds as the ideal gift. We acquired insights about how consumers are buying for “bigmoment” gifting, for landmark events like anniversaries, the birth of a child, auspicious occasions and, of course, weddings. The videos pitch diamonds as enduring gifts over cars, dresses, etc., for which there will always be upgrades,’ he explains.
A LIGHT-HEARTED APPROACH
Sheth says that because the videos talk about life’s big truths – emergency expenditure, financial crunch, saving and investments – a serious approach might have bordered on ‘preachy’. ‘Also, the emotional space is already dominated by traditional jewellery players. The idea was to promote buying of gold and diamonds, but in a different space from brands,’ explains Sheth.
GJEPC’s Shah feels the videos deliver their message effectively, and that the platform has the potential to further strengthen the Council’s communication to the public. ‘The videos are good as a start. As we evolve the themes and the style of the videos, based on feedback from the trade, we are sure they will become great,’ he says.
