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Axis mutual funds does a scientific experiment for ELSS

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MUMBAI: In an era of dime a dozen social experiments which do the rounds on social media, The Womb, as part of an investor education initiative for Axis Mutual Funds conducted a scientific experiment to prove how ELSS, unlike other tax saving options, is not just helpful in saving tax but a great way to way to create wealth. The experiment captured on video has been released digitally on 4 January.

Axis Mutual Fund vice president of marketing communication and digital marketing Rohan Padhye says, “January to March period are typically the tax season during which everyone hankers around to save tax. We felt it’s important to educate consumers that they should not just think about saving tax, but invest for wealth creation too, through ELSS. ELSS has become all the more relevant today given the low-interest rates offered by traditional tax savings options. The endeavour was to inform consumers about this functional aspect in a simple and entertaining way. I have to say, we at Axis MF were pleasantly surprised when we first heard the idea of a Science Experiment. We thought we were hearing it wrong but it is the bizarreness that made us confident about the campaign.”

On how did he get to the idea of a scientific experiment ,The Womb creative partner Suyash Khabya says, “The root for the idea came from the medium itself. It was not a TVC; it was a digital media campaign, so we had to think accordingly. Social media is stuffed with boring, staged and uninspiring social experiments. In fact, it's become a format and the novelty has waned. So we just took a spin on it.”

The Womb founding partner Kawal Shoor mentions, “There are 2 audiences for this campaign. The first is the traditional ELSS target - the corporate salaried individual. For her, during the tax season ELSS is one of the options to invest in order to save tax. So we had to make ELSS top-of-mind. The second is the young trader/shopkeeper/service professional who, due to GST , etc., has just come into the tax bracket. The pinch of paying high taxes from the ‘khoon-paseene ki kamaai’ for them is very real. We had to, through our work, tackle that sentiment too. Hence the ‘science experiment’ on an emotional issue.”

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