Exclusive In chat with Society Magazine - Prof. Arindam Chaudhuri
CHALLENGE: Being the 18th private player to enter the overtly cluttered insurance sector (which not only had similar products & services, but also much the same communication); grabbing TG’s attention toward the brand was the challenge in front of this brand.
SOLUTION: Contrary to the predictable conventional launch, the brand engaged TG by generating curiosty around the brand by a two-pronged strategy: devising communication that fosters interest in the brand and reaching out to him where he is most susceptible and responsive. Eye-catchy acronym ‘KILB’ – “Kam insurance lene ki bimari” created awareness about the need to evaluate the correct amount of insurance cover required. Phrases like ‘Kya aapko KILB hai?” created instant inquisitiveness amongst TG.
TOUCH POINTS: The brand reached out to the TG at relevant touch points – sometimes even by entering his daily routine so that KILB could gain maximum attention. New media was created and used innovatively – screensavers, ‘KILB +ve’ stickers beneath nameplates in offices, seal marks in newspapers, viral CEO mailers, financial portals, et al.
RESULT: Overall, the slickly executed campaign managed to generate over 42,000 leads for the brand agents – almost double the number usually generated by top players in the category who work with nearly 50% higher budgets.
For more articles, Click on IIPM Article.
Source : IIPM Editorial, 2010.
An Initiative of IIPM, Malay Chaudhuri and Arindam chaudhuri (Renowned Management Guru and Economist).
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