Q] Tell us about the ‘No More’ outdoor campaign. What was the insight or consumer research behind it?
At its core, the ‘No More’ campaign was built on a simple investor truth: most people react emotionally to markets, think short term, and exit too early - especially first-time investors.We deliberately avoided a gimmicky or sensational approach because investor behaviour doesn’t need more noise; it needs clarity. ‘No More’ was the second phase of our earlier campaign ‘I Will Not Stop’. While the larger idea speaks to perseverance, this phase addressed the specific mistakes investors repeatedly make such as panic selling, chasing momentum, and giving up when markets turn volatile. These behaviours are deeply personal because everyone, regardless of experience, has made them at some point.
A key insight was that younger investors today haven’t lived through major market disruptions like the dot-com crash, the global financial crisis, or even earlier cycles. Those experiences shape maturity, but when you haven’t lived them, second-hand learning becomes critical and far more efficient. The campaign was designed to offer that learning directly, without over-explaining or dressing it up. Instead of long-winded messaging, we chose to say things plainly, almost uncomfortably because sometimes the most effective communication is simply holding up a mirror. ‘No More’ is about acknowledging what we all know we shouldn’t do, and reminding ourselves, clearly and calmly, to act better next time.
Q] The campaign stood out for its minimal approach despite targeting a younger audience that often gravitates towards loud, high-energy communication. What drove this choice, and how do you evaluate its impact?
As marketers, you can add to the noise, but it becomes harder to hold attention. We chose to go against that instinct, silence can speak louder. We focused on clear, no-nonsense communication without hiding behind imagery, staying true to DSP’s belief that rational messages need a rational, minimal style.
The real impact of these campaigns is long-term, so we don’t judge them only by metrics that depend on spend. What mattered was the response, people sharing our OOH and print ads and saying, ‘This is me,’ with ‘I Will Not Stop’ becoming a manifesto for life. The real success we’re aiming for is behaviour change: investors staying invested longer, continuing SIPs, and not exiting the market.
Q] What was the thought behind ‘The Immortals’ documentary, and how did you choose the people featured in it?
The idea came from the constant noise of today’s world, aggressive marketing, reels, influencers and a belief that living a richer life matters more than just getting rich. As we speak about long-termism and values, a slower, reflective film felt right. We didn’t want to talk about money or DSP, but listen to people who have lived long, meaningful lives. Their advice on what helped them live and build better lives became relatable content. In our discussions, we realised how often we ignore the older people in our own homes. Grandparents and great-grandparents have deep perspectives shaped by long lives, yet we don’t always listen. So the documentary looks through their lens, featuring people in their 90s, born between two world wars and before independence. It’s not a campaign; it’s about uncovering perspectives from across India. We believe we’ve created something powerful, meant for slow watching, more like a lesson than a rush. We invite people to watch it and share feedback, and if the response is strong, we will create more such films.
Q] Is there any plan to promote the documentary digitally or through OOH?
We’re currently observing how audiences choose to engage with the film. While early feedback has been encouraging, we’ve deliberately held back on promotion. A 40-minute documentary can’t depend on push marketing; its real test is whether viewers stay with it, return to it, and complete it. Our internal screening moved people to tears, but YouTube is different from a closed-room screening. We want organic feedback first, and if it works, we’ll invest in more documentaries.
Q] How has your media mix changed in the last 2–3 years? Which medium do you invest in more?
For me, this isn’t just a digital age, it’s an age of low attention spans. People skip ads across digital, print, radio, and OOH, so the real battle is consumer behaviour. Our media choices follow how people actually behave. We moved from heavy traditional to digital, but too much data can make digital feel like the only answer. Many big brands are returning to traditional, and our mix reflects that shift. We’ve always been strong on OOH and have increased traditional again in recent years. Digital follows consumer movement. If OOH works, we do more. If print works and it did after almost a decade, we repeat it. Our mix isn’t fixed by percentages; consumer choices drive everything.
Q] Financial education in India is uneven. How has communication differed across different regions over the years?
Digitisation has increased awareness across the country, and aspirations drive decisions regardless of city size. But communication styles vary: bigger markets can handle some jargon and hype, while smaller markets respond more to authenticity, simplicity, and relatable stories. The mutual fund industry has worked hard to bring smaller markets into investing, and participation from Tier 2 and Tier 3 cities has grown since ‘Mutual Funds Sahi Hai’. Ultimately, aspirations shape decisions, but communication must reflect what each market values.
Q] How are young first-time investors behaving differently from older investors, and how does your tone of communication change for them?
Younger investors value authenticity and have high access to information, which gives them confidence and a higher risk appetite early in life. But easy information also fuels ego. Strong markets make them credit their own decisions, and only after a fall do they recognise FOMO or realise they followed influencers or social media without deeper understanding. Direct plans add convenience but also lead to poor practices when people avoid guidance. So our tone with them is authentic, intelligent, and focused on frameworks that support long-term decisions. They live in a doom-scrolling world, so we fight for thumbshare not mindshare, speak their language, and appeal to aspirations, not greed. Awareness of investing is rising earlier, and the ecosystem is evolving. Older investors have more fixed patterns, so the approach differs, but the core remains the same: be authentic and help them think clearly.
Q] Will your marketing communication shift in 2026, and is there a medium you plan to bet big on?
There won’t be a major shift. We stick to basics - listen to people, and tell them what they need to hear. The expressions and media may change, but the strategy stays the same: build credibility, deliver value, and be a voice of reason. Authentic brand building needs strong content, not just campaigns. Our investment publications like Netra, Nectar, Transcript, and Converse have a loyal audience. For broader audiences, we may create more entertaining formats, but always with subtle, relatable messages about values and decision-making. If people start making better decisions on their own, our campaigns can play a smaller role. Our future media choices will follow that principle.
PROFILE
Abhik Sanyal heads Marketing at DSP Asset Managers, one of India’s leading investment management firms, and is a member of AMFI’s Financial Literacy Committee, contributing to the nationwide ‘Mutual Funds Sahi Hai’ campaign. Now in his 20th year at DSP, he brings deep experience in integrated marketing across financial services. He has led several award-winning campaigns, including the Cannes and Kyoorius-winning ‘Garuda Rakshak’, along with ‘No More’, ‘I Will Not Stop’, ‘Axe Your Tax’, and content properties like ‘Cubicles’, ‘Break The Bias’, and ‘The Immortals’. He believes strong ideas stem from behavioural insight and focuses on nudging wiser decision-making across money, marketing, and life.
ABOUT THE BRAND
DSP Mutual Fund has nearly three decades of investment experience and serves over 60 lakh investors across retail, HNI, NRI, corporate, trust and institutional segments, helping create long-term wealth. It is backed by the 160+-year legacy of the DSP Group, which has played a notable role in India’s capital markets and professional money management history.
FACTS
Media agency: In-house
PR Agency: Concept PR
Digital Agency: In-house
Creative Agency: Ruminator Studios
