Angel One
Elevating the Investment Journey
The Battle for India's New Investor
Between 2020 and 2023, India added tens of millions of first time retail investors. This was the biggest single opportunity the stockbroking industry had seen in decades and the competition for it was fierce. Angel One, with over 2 crore registered clients, was already one of India's leading retail broking platforms. The challenge wasn't brand recognition. It was digital efficiency.
Multiple campaigns were running across multiple channels, but they weren't talking to each other. Performance campaigns, organic social, SEO content and paid search were each optimised in isolation, which meant the brand was spending more than it needed to and capturing less than it should.
Where the Budget Was Leaking
A full audit mapped the gaps with precision. Attribution was broken because last click models were giving Google Ads credit for conversions that social and content had actually initiated. Audiences on Meta were overlapping, so cold prospecting and warm retargeting were competing against each other and inflating CPMs. The SEO content programme existed but lacked keyword architecture. Articles were being written without targeting specific search intent, particularly for the high volume first time investor queries that Angel One was best positioned to capture.
The social media presence, meanwhile, was speaking to experienced traders. The creative, the language and the content format were all calibrated for people who already knew what a demat account was, leaving the fastest growing segment of first time investors in their 20s largely unaddressed.
How we
solved it.
The work,
in view.
The Angel One
outcome.
ROAS on performance campaigns reached 3.8x as a result of the audience restructure and landing page improvements. New investor sign ups grew 85%, driven primarily by the first time investor content programme. Social engagement increased 120%, reflecting both the new content formats and the shift toward a younger and more engaged audience. Customer acquisition cost fell 45%, compounding the value of every rupee spent.
Angel One is a pattern worth watching across financial services more broadly: brands built for one type of customer often struggle to reach a new demographic without a deliberate strategy reset. The product rarely needs to change. The communication does. Sharekhan's education led content programme, ICICI Prudential's work on simplifying regulatory language and CMS Info Systems's B2B performance marketing rebuild all point to the same underlying truth in their own categories.
