Devam Sardana, Business Head at Lemonn, is seeking to attract a large number of new investors into stock markets:
Who does not want stock investing to be easy and engaging? Everyone, right. That is what PeepalCo has taken up through its app Lemonn. It aims to enable everyone to own a share of India’s growth story.
Lemonn customizes engagement for different customer segments and targets specific demographics and categories. The app is designed with a focus on new investors, reflecting Lemonn’s commitment to clarity and simplicity. The sad fact is that despite a post-pandemic surge, only about 6% of Indians invest in the stock market. Lemonn’s goal is to make investing as accessible and effortless as possible. For this, the app features are customized targeting the needs and requirements of new investors, helping them discover and make decisions seamlessly.
Devam reveals: “Our research showed that prospective investors were seeking well-analyzed and easily accessible stock recommendations. In response, we introduced the analyst rating feature, which offers curated stock picks from 40 expert analysts. This feature has proven to be highly effective, with 29% of our users relying on these analyst recommendations for their investment decisions.”
Key Offerings
Apart from analyst stock picks, one notable feature of Lemonn is that it features a comprehensive financial glossary that clarifies financial and market terminology, enabling investors to know what is what. Further, Lemonn offers zero fees, including free account opening and no brokerage fees for the first 30 days, ensuring a cost-effective investment journey. It offers customers a spectrum of diverse investment options, including IPOs, Futures & Options (F&O), and Mutual Funds, providing flexibility to build a well-rounded portfolio.
Devam added: “We are committed to innovating popular investment tools to strike a balance between active and passive investment strategies. This approach is designed to create a well-rounded investment experience for new investors, making their investment choices easier and more effective. Additionally, we will also be focusing on improving platform uptime to ensure a seamless customer experience.”
Tech Initiatives
The group established an in-house IT services company that delivers advanced technology solutions across diverse businesses, including CoinSwitch and Lemonn. Leveraging cutting-edge technologies such as AI, machine learning (ML), chatbots, and cloud computing, focused on creating seamless and efficient customer experiences.
Devam says: “Our use of AI in customer service has delivered a dual impact- boosting operational efficiency by 30% while significantly improving customer satisfaction. These innovations enable us to anticipate customer needs, provide instant support, and enhance overall engagement, positioning us at the forefront of tech-driven service excellence.”
T20 Campaign
Lemonn kick-started a massive marketing campaign centered around 2 popular topics that deeply resonate with Indians – cricket and Bollywood. The campaign, ‘Zero rupee ka kharcha, Duniya bhar mein charcha,’ was announced in partnership with the ICC Men’s T20 World Cup, aiming to take viewers on a trip down memory lane with iconic Bollywood classics reimagined to create stronger brand recall and awareness.
The feedback from customers was overwhelmingly. The campaign achieved a total reach of 60 million and drove a 33-fold increase in organic downloads of the Lemonn app during the launch of the first phase.
Devam shares more: “During the second phase, we partnered with India vs. Sri Lanka ODI Series to increase our brand recall leading to 20 million impressions. We implemented a comprehensive 360-degree strategy for this campaign, utilizing a blend of online and offline methods to engage new users and strengthen our relationship with existing investors.”
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