Brand Led Growth project | Dezerv

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Overview

• Dezerv is a wealth management company that combines the expertise of seasoned investment professionals with advanced technology. Their team of experts monitor the performance of portfolios and rebalance them if required to ensure long-term success.

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• Since inception, clients have trusted them with over 6000+ crs of their assets. Dezerv aims to deliver following:
  
• • Comprehensive assessment of your investment portfolio from India's leading investment experts
  • Diversified portfolios to help you create long-term wealth using scientific allocation strategies
  • Day-to-day active management of your portfolio and timely corrective actions as and when needed
• Dezerv unlock premium investment opportunities and create long-term wealth.
  

Section 1 : Crafting the Core Value Prop

Understanding the product

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Background

• Eight decades ago, Fred Schwed wrote a book titled “Where are the customers’ yachts”. The question was inspired by a visitor to New York, who after seeing the yachts of Wall Street bankers, wondered where the customers’ yachts were. The book takes a hard look at Wall Street in the 1940s, showing how the business of giving financial advice is more lucrative than that of receiving financial advice! Unfortunately, the question and the book aged well and the assertion holds true to this day.
• As the emerging affluent segment in India grows they face a similar challenge. Tech-led, transparently priced, customer-obsessed products have disrupted many sectors over the last century - travel, commerce, local services, food delivery, mobility etc. However, the wealth and asset management industry remains slow in product innovation, stubbornly opaque, and is heavily mis-sold. To start with, the odds of successfully managing wealth are significantly against the average investor. 80%+ of large cap mutual funds underperform the index benchmarks, quality advisory is difficult to come by, and differentiated asset classes are usually inaccessible. Consequently, this emerging affluent segment invests sub-optimally or doesn't invest at all!
• These 30M+ emerging affluent households remain poorly served for their investment needs; the existing solutions just don’t work! DIY tech platforms offer a marketplace of products, but they lack the sophistication in advisory and personalization. Meanwhile, traditional wealth advisors cater only to the high net worth individuals.
• A large emerging affluent segment, poor experience and outcomes that haven’t changed for a long time - We have long believed that this space is ripe for disruption!The product is bringing in something new to the world of tech-led investing—an Integrated Portfolio Approach.
  

Main offerings

• Wide range of financial products right from PMS, Private credit, bonds and alternative investments
• Personalized Strategies: Tailored investment plans based on client goals and risk tolerance.
• Financial Planning: Comprehensive financial advice and portfolio rebalancing (mint).
• Tools for investment tracking and performance analytics

​Customer Pain Relievers

• Personalized Advisory: Dezerv provides tailored investment strategies based on individual financial goals and risk tolerance, simplifying the decision-making process for clients
• Diverse Portfolio Options: Dezerv offers access to exclusive investments like venture debt, private equity, and structured products, traditionally available only to HNIs, democratizing sophisticated investment opportunities
• Automated and Expert-Managed Portfolios: Dezerv uses advanced algorithms and expert insights to create and manage portfolios, saving clients time and ensuring professional management
• Regular Portfolio Review and Rebalancing: Continuous monitoring and adjustment of portfolios to align with market conditions and client objectives ensure optimal performance over time
  

Understanding product in detail

• What is Dezerv really in the business for?Here to build a truly disruptive customer-first model curated by high-quality advisors, while remaining low cost; tech-led, while providing the ability to consult experts; tailored to individual needs, while being a breezy experience; and, in the end, deliver superior risk-adjusted returns and help fulfil financial and life goals!

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• ​What problem does Dezerv solve?Their offerings are targeted to affluent Indians
• • Complexity in Investment Decisions
  • Limited Access to Alternative Investments
  • Portfolio tracking

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• What are some customer benefits?
• • Diverse Portfolio Options: Dezerv offers access to exclusive investments like venture debt, private equity, and structured products, traditionally available only to HNIs, democratizing sophisticated investment opportunities
  • Personalized Advisory: Dezerv provides tailored investment strategies based on individual financial goals and risk tolerance, simplifying the decision-making process for clients
  • Automated and Expert-Managed Portfolios: Dezerv uses advanced algorithms and expert insights to create and manage portfolios, saving clients time and ensuring professional management
  • Regular Portfolio Review and Rebalancing: Continuous monitoring and adjustment of portfolios to align with market conditions and client objectives ensure optimal performance over time
    
• How is the user currently solving this problem?
• • Invest via DIY tech platforms which offer a marketplace of products, but they lack the sophistication in advisory and personalization
  • Traditional wealth manager - (Expensive, lacks breadth of offerings and biased to sell high commission products)

JTBD of Dezerv

Market Positioning: Affluent and Super Affluent India

• Dezerv: Targets senior working professionals, middle-market individuals with investable surpluses of ₹15 lakh to a few crores, and high-net-worth individuals (HNIs). The platform is designed to provide sophisticated investment solutions that bridge the gap between affluent individuals and HNIs (mint) (YourStory.com).
• Competitors: Competitors like Scripbox, WealthDesk, and smallcase primarily target retail investors and HNIs but often focus more on either end of the spectrum. Scripbox and WealthDesk are more geared towards retail investors, while platforms like Kristal.AI target HNIs with investable assets of over $1 million.

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​Product Range and Innovation

• Dezerv: Offers a diverse range of products, including multi-asset portfolios, alternative investments (venture debt, private equity, hedge funds, structured products, pre-IPO securities), and direct bond investments. The platform combines algorithm-based portfolio creation with human expertise to provide personalized investment strategies (YourStory.com).
• Competitors:
• • Scripbox: Focuses on mutual funds, goal-based investing, and systematic investment plans (SIPs). Limited access to alternative investments.
  • WealthDesk: Provides ready-made investment portfolios and thematic investments, with a focus on stocks and ETFs.
  • smallcase: Offers curated portfolios of stocks and ETFs based on themes, sectors, or strategies. Limited focus on alternative investments and personalized advisory.

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​Price Point and Accessibility

• Dezerv: The minimum investment threshold is ₹50,000, making it accessible to a broader audience while still catering to affluent and super affluent individuals. The platform is currently invite-only, ensuring personalized service and high-quality engagement with clients (mint) (YourStory.com).
• Competitors:
• • Scripbox: No minimum investment requirement, making it highly accessible to retail investors. However, lacks the exclusivity and personalized service offered by Dezerv.
  • WealthDesk: Accessible with no minimum investment requirement but focuses more on retail investors.
  • smallcase: Offers investments starting as low as ₹5,000, targeting retail investors primarily.

​Summary

Dezerv stands out in its market positioning by targeting both affluent individuals and HNIs with a broad product range that includes both conventional and alternative investments. Its minimum investment threshold of ₹50,000 strikes a balance between accessibility and exclusivity, ensuring personalized service for a sophisticated client base. In comparison, competitors like Scripbox, WealthDesk, and smallcase primarily focus on retail investors with lower minimum investment requirements and less emphasis on alternative investments and personalized advisory.

Product Category 😀

Dezerv is a NEW ENTRANT in an EXISTING CATEGORY.

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and the JTBD for Dezerv should be :

1. Build Trust and Credibility

• Objective: Establish Dezerv as a trusted and credible wealth management brand.
• Actions:
• • Showcase Expertise: Highlight the credentials and experience of the founding team and investment experts.
  • Client Testimonials and Case Studies: Share success stories and testimonials from existing clients to build social proof.
  • Transparent Communication: Maintain clear and open communication about investment strategies, risks, and performance.

Educate and Empower Investors

• Objective: Enhance financial literacy and empower clients to make informed investment decisions.
• Actions:
• • Content Marketing: Create and distribute educational content such as blogs, webinars, and newsletters on investment strategies and market trends.
  • Workshops and Webinars: Host regular educational sessions to help clients understand complex financial concepts and alternative investments.
  • Interactive Tools: Develop tools and resources that help clients evaluate their financial health and understand their investment portfolios.

3. Differentiate with Unique Value Propositions

• Objective: Clearly articulate what sets Dezerv apart from other wealth management services.
• Actions:
• • Innovative Product Range: Emphasize the unique mix of traditional and alternative investments available on the platform.
  • Personalized Advisory: Highlight the blend of technology-driven insights and human expertise in creating personalized investment strategies.
  • Accessibility: Promote the relatively low minimum investment threshold, making sophisticated wealth management accessible to a broader audience.

4. Enhance Client Experience

• Objective: Provide an exceptional and seamless user experience.
• Actions:
• • User-Friendly Platform: Ensure the website and mobile app are intuitive, easy to navigate, and provide all necessary information at the clients' fingertips.
  • Responsive Customer Support: Offer prompt and efficient support through multiple channels (chat, email, phone) to resolve client issues.
  • Regular Portfolio Reviews: Implement a system for regular portfolio reviews and rebalancing to keep clients’ investments aligned with their goals.

5. Expand Brand Awareness

• Objective: Increase brand visibility and attract new clients.
• Actions:
• • Digital Marketing Campaigns: Run targeted digital marketing campaigns on platforms like LinkedIn, Twitter, and Instagram to reach potential clients.
  • Influencer Partnerships: Collaborate with finance influencers and thought leaders to promote Dezerv’s services.
  • Media Coverage: Seek opportunities for media coverage and thought leadership articles in financial publications and websites.

6. Foster Community and Engagement

• Objective: Build a loyal community of engaged clients.
• Actions:
• • Client Events: Organize virtual and in-person events to engage with clients and provide networking opportunities.
  • Feedback Mechanisms: Regularly collect feedback from clients to understand their needs and improve services.
  • Loyalty Programs: Develop loyalty programs to reward long-term clients and encourage referrals.

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​Summary

The job to be done for the Dezerv brand is to build trust and credibility, educate and empower investors, differentiate with unique value propositions, enhance client experience, expand brand awareness, and foster community and engagement. These strategies collectively aim to position Dezerv as a leading wealth management platform for affluent and super affluent individuals in India.

Pull vs. Push Strategy for Dezerv

Pull Strategy

• Objective: Attract clients by creating demand through branding and engagement.
• Key Activities:
• • Content Marketing: Publish educational blogs, articles, videos, and host webinars to establish expertise.
  • SEO and SEM: Optimize content for search engines and use paid search ads to attract clients actively looking for wealth management services.
  • Social Media Engagement: Share informative content and success stories on social media, engage with users through comments and live sessions, and collaborate with influencers.

Push Strategy

• Objective: Actively promote services to potential clients through direct marketing.
• Key Activities:
• • Direct Outreach: Send targeted email campaigns and make personalized phone calls to introduce services.
  • Partnerships and Alliances: Form strategic partnerships for client referrals and corporate tie-ups for employee benefits.

Summary: Both strategies are essential for Dezerv to build brand awareness and trust (pull strategy) while driving immediate client acquisition (push strategy).

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Industry Nuance

• Educational Emphasis: In the wealth management industry, educating clients is crucial due to the complex nature of financial products. By providing valuable insights, Dezerv can build trust and position itself as a thought leader.
• Tech-Savvy Audience: Affluent and super affluent individuals often rely on digital platforms for financial management. Engaging with them through content and social media aligns with their behavior and preferences.
• Network Leverage: In wealth management, personal networks and referrals are powerful. Strategic partnerships can enhance credibility and provide access to a larger client base.

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Understanding your user (ICP)

Primary ICP

Demographics:

• Age: 24-35 years old
• Gender: All
• Location: Urban areas, particularly Tier 1 & 2 cities in India
• Salary: Middle to upper-middle-class, with disposable incomes
• Employment: Working professionals who are time-poor and seek quick solutions
• Social Media: Primarily Linkedin and Twitter users
• Apps Used: Swiggy, Zomato, Uber, Ola, Amazon, Myntra, Ajio, Gpay, CRED, Blinkit, Netflix, Hotstar
• Marital Status: Both singles and married individuals

Psychographics:

• Financial Goals: Wealth building, retirement planning, children's education funding, property purchase
• Investment Knowledge: Moderate to high understanding of financial markets
• Risk Appetite: Balanced to high
• Values: Personalized expert advice, transparency, trust, convenience

Behavioral Insights:

• Financial Behavior: Seeks portfolio diversification, uses digital financial tools
• Technology Use: Regularly uses online platforms for banking and investing
• Decision-Making Process: Research-driven, values professional recommendations
• Challenges: Managing complex portfolios, lack of time, staying updated with market trends

Needs and Desires:

• Simplified Investment Process: User-friendly management platform
• Diversified Portfolio: Mix of traditional and alternative investments
• Expert Advisory: Personalized financial advice and management
• Educational Resources: Tools and content to enhance investment knowledge
• High-Quality Support: Responsive customer service

By targeting this persona, Dezerv aims to cater to affluent and super affluent individuals seeking professional, diversified, and convenient wealth management solutions.

User Insights

Category Perception:

• Convenient Solution: Users perceive Dezerv as a solution that simplifies complex financial management tasks, aligning with their fast-paced lifestyles.
• Quality and Trust: They are concerned about the quality and reliability of financial advice and seek a trustworthy platform to manage their investments.

Value:

• Convenience: Users highly value the ease and convenience of managing their investments through a digital platform that minimizes time and effort.
• Quality: High-quality, personalized financial advice and diverse investment options are crucial.
• Variety: Users appreciate access to a wide range of investment opportunities, including both traditional and alternative assets.
• Authenticity: Trustworthy and transparent financial management is essential.
• Access to Experts: They value the ability to consult with top financial experts, ensuring their investment decisions are guided by industry leaders.

Problems:

• Complex Financial Processes: Managing diverse investment portfolios and making informed decisions can be complex and overwhelming.
• Time-Consuming Management: Users often lack the time to actively monitor and manage their investments.
• Sourcing Reliable Advice: Finding personalized, reliable financial advice that aligns with their goals and risk tolerance can be challenging.

Non-Negotiables:

• Convenience: The platform must be user-friendly and efficient.
• Transparency: Clear communication and no hidden fees are essential.
• Authenticity: Reliable and trustworthy financial advice is a must.
• Expert Access: Direct access to top financial experts for personalized advice.

Negotiables:

• Price Point: Users may be willing to pay a premium for high-quality, personalized financial advice and unique investment opportunities.

Aspirations:

• Skilled in Financial Management: Users aspire to become more knowledgeable and confident in managing their investments.
• Explore Investment Opportunities: They want to explore diverse and potentially lucrative investment options.
• Balanced Lifestyle: Achieving a balance between financial health and enjoying life's experiences is important.

Goals:

• Social: Impressing peers with smart investment choices, having an investment expert managing their portfolio, and showcasing financial success.
• Functional: Simplifying and organizing financial management to ensure efficiency and effectiveness.
• Personal: Gaining control over financial health and making informed investment decisions.
• Financial: Obtaining value for money by investing in premium financial products and services that deliver reliable returns.

Primary Goal - Functional:

• Convenience: Organizing and simplifying investment management without compromising on the quality and authenticity of financial advice, while providing access to top experts for affluent and super affluent individuals.

By focusing on these user insights, Dezerv can tailor its offerings to effectively meet the needs and aspirations of its target audience, providing them with a convenient, high-quality, and trustworthy financial management solution, enhanced by access to top financial experts.

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Articulating the core value prop

Following the formula : For [target customer] who [needs X] our [product] is [category of industry] that [benefits/provides pain relivers].

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CVP for Dezerv :

For [affluent and super affluent individuals in urban India] who [seek convenient and reliable wealth management solutions], our [Dezerv platform] is [a comprehensive financial advisory service] that [provides personalized, expert-managed portfolios and access to both traditional and alternative investments, ensuring high-quality, trustworthy financial management and peace of mind].

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Section 2 : Find your brand wedge

​1) What are some category insights? What are the top problems the category is suffering from?

Category Insights:

• Growing Demand for Personalized Advice and Rise of Digital Platforms: Investors want tailored financial advice and are increasingly turning to digital solutions.
• Alternative Investments: Interest in options like private equity and venture debt is rising.
  

Top Problems:

• Complexity: Difficulty navigating numerous financial products.
• Lack of Transparency: Concerns about unclear fees and strategies.
• Access to Quality Advice: High-quality, personalized advice is often inaccessible.
• Time Management: Actively managing investments is time-consuming.

​2) What are your user problems? What are the top problems the user faces?

Top User Problems:

• Complexity: Navigating many investment options is challenging.
• Time Constraints: Lack of time to manage investments.
• Reliable Advice: Difficulty finding personalized, reliable advice.
• Market Trends: Keeping up with market trends is hard.

​3) What are your user non-negotiables?​

User Non-Negotiables:

• Convenience: User-friendly and efficient platform.
• Transparency: Clear communication about fees and strategies.
• Authenticity: Trustworthy financial advice.
• Expert Access: Direct access to top financial experts.

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4) What are your user negotiables?

User Negotiables:

• Price Point: Willingness to pay a premium for high-quality advice.
• Exclusive Access: Acceptance of higher minimum investments for exclusive opportunities.

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5) What are their aspirations?

User Aspirations:

• Financial Skills: Becoming more knowledgeable and confident in investments.
• Investment Exploration: Exploring diverse investment options.
• Balanced Lifestyle: Balancing financial health with life experiences.
• Social Recognition: Impressing peers with smart investments and expert management.
• Functional Convenience: Simplifying financial management without compromising quality.
• Personal Growth: Gaining control over financial health.

Defining the Brand Wedge

Equation: “If category perception [complexity and lack of transparency in wealth management] & my user feels [overwhelmed by investment choices and lack of time], then my brand will always solve for [convenience, transparency, and access to expert advice].”

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Defining the Brand Look for Dezerv

Dezerv should project a professional and sophisticated image, reflecting its focus on personalized and high-quality financial advisory services. However, it should avoid appearing too elitist or inaccessible to ensure it remains approachable to its target audience, which includes affluent and super affluent individuals in urban India.

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How should the Brand Speak

Dezerv's communication should be clear, informative, and trustworthy, using language that resonates with its target audience on digital platforms. The brand should emphasize the reliability and expertise of its services, while maintaining a tone that is engaging and relatable.

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How should the Brand Behave

Dezerv should position itself as a knowledgeable and supportive partner in wealth management. It should leverage digital features like webinars, blogs, and interactive tools to engage users and provide valuable insights. However, it should avoid overly complex presentations that could intimidate or confuse users.

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By maintaining a professional yet approachable image, speaking in an informative yet clear manner, and behaving as a knowledgeable yet supportive partner, Dezerv can effectively resonate with its target audience and build trust in its brand.

Section 3 : Apply brand wedge on & off the product

Recent website revamp

The recent revamp of Dezerv's website aims to bring the brand closer to affluent and super affluent individuals in India. This effort focuses on enhancing the user experience across various touchpoints, ensuring consistency in professionalism, sophistication, and approachability.

https://www.dezerv.in/

Recommend : Similar Brand revamp / implementation on App store and their flag ship app

Expense ratio in the world of direct plan

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Dezerv should emphasize its commitment to transparency by clearly showcasing the value addition of its regular plans compared to direct plans. This approach not only builds trust but also educates users on the benefits they receive through Dezerv's expertise and services.

Interaction with customer support

Recommendation :

1. FAQs to navigate for quick responses
2. Current mode of communication does not represent brand value
3. Brand aesthetics to reflect in the customer interactions

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Example :

"Hi Vipul,

Good afternoon!

Thank you for reaching out to Dezerv. How can I assist you with your investment portfolio today? Whether you need detailed advice on your current investments or have any other financial queries, I’m here to help.

Best regards, Unnati Dave"

Social media response

Interaction with customer

Sample Dezerv Responses to a Customer Query on Twitter

User Query: @Dezerv "Can't fetch my current MF portfolio insight. This error is reflecting from March 24. #Help #CustomerSupport"

Response 1: "Hi [Customer Name], sorry for the inconvenience. Please DM us your registered email ID, and we'll resolve this issue ASAP. Thanks for your patience! #CustomerSupport"

Response 2: "Hi [Customer Name], we apologize for the trouble you're experiencing. Please send us a DM with more details, and our support team will look into it right away. #CustomerSupport"

Response 3: "Hi [Customer Name], we're here to help! Could you please DM us your registered email ID so we can investigate this issue further? Thank you for your patience. #Support"

Key Elements in the Response:

1. Acknowledgement: Recognizing the user's issue and apologizing for the inconvenience.
2. Call to Action: Requesting the user to DM (Direct Message) their registered email ID or further details for privacy and security.
3. Assurance: Providing assurance that the issue will be resolved promptly.
4. Professional and Empathetic Tone: Maintaining a tone that is both professional and empathetic to the user's situation.

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Risk-based FAQs

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Recommendation :

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Investment products are subject to various market risk. Consider adding Risk based FAQs

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Showcase other financial product offering

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Recommendation :

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Brand aims to be house of financial products for affluent Indian. However, this products are not demonstrate / offered on the tech product, which is leading an user with an impression that Dezerv offers only MFs and not other products.

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Reference : https://elevationcapital.com/summit/insights/investing-in-dezerv

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