Geojit Financial Services, the parent company of GTL is a reputed financial services organization based in India.
Most Indian families with a financial surplus do not invest in equities or related products. One of the key reasons is lack of awareness and an improper understanding of the ‘risk’ concept. GFSL with GTL as the technical partner wanted to clear the misconceptions and let audiences have practical experience in equity-related transactions, but in a safe and user-friendly way.
As social media usage has been increasing in India, a Facebook app was chosen to engage with the country’s young audience. The Bombay Stock Exchange supported this initiative. This resulted in launch FLIP Social, a Facebook app, to reach young users.
How We Helped
FLIP Social was launched by the CEO of the Bombay Stock Exchange and is a part of the institution’s investor education initiative. It was rolled out as a first-of-its kind knowledge dissemination and transaction platform in India. This is the first transaction-enabled social media application in India’s retail capital market segment.
FLIP Social has both educational and transactional functionalities. Its key features include:
- A knowledge dissemination system with definitions of terminologies used in the capital markets, ratios, etc, with virtual classrooms
- A virtual trading platform for users to create portfolios, buy or sell, book virtual profit or loss; users can invite friends to participate in this game
- Live global indices and important market news for greater awareness
- Trading and investment options for KYC compliant users of GFSL; all transactions are routed via a secured broker’s network and subject to surveillance and risk management
- The application saw phenomenal success with new-users signing up for the games and live updates.
For GTL and GFSL, it helped to build greater brand recall, create an online platform for investors, traders and potential investors to interact and also a channel for lead generation and conversion with cost per client conversion reduced by more than 50% compared to traditional acquisition channels