Aarti Pahwa, New Delhi
Buying our own home is a dream of every salaried class person in India. However, the lack of adequate income can sometimes be a problem for many of us. For all such people, Kotak Mahindra Bank has slashed interest rates on home loans in a bid to attract customers amid the ongoing coronavirus pandemic. The bank recently announced a 0.10 percentage point cut in its home loan rates for a limited period, claiming its offering to be the lowest in the market. Customers will be able to avail home loans for 6.65 per cent.
To create buzz for its offer, Kotak came out with an OOH campaign. Platinum Outdoor helped KMBL bring the campaign to using innovative billboard designs across Mumbai, Delhi-NCR, Bengaluru, Chennai, Pune, Ahmedabad and Hyderabad. The campaign comprised an interesting mix of OOH media, including the newly launched water media, which was displayed at the Bandra-Worli Sea Link.
The 10-day high visibility campaign comprised innovative techniques of a life-size balcony setup created on traditional billboards. The life-size living room setup encompassed a real brick wall construction with Kotak branding and the offer communication displayed using acrylic letters, a 15 ft. long real sofa, centre table, plants, etc. to give the feeling of a home. This home aesthetics were kept on the platform which had the branding of KMBL and Kotak Home loans. Touchpoints were carefully selected in tandem with the new OOH mobility and relevant TG movements across markets of interest. Water media comprised a larger than life digital screen docked atop a container ship and parked at the Bandra-Worli Sea Link in Mumbai. Traditional media comprised of Billboards + Bus Shelters + Metro pillars.
Elizabeth Venkataraman, Joint President - Consumer, Commercial & Wealth Marketing, Kotak Mahindra Bank said “We had a simple message to convey – that Kotak Home Loans were available at an unbelievable home loan rate starting from 6.65%*p.a. Our brief to Platinum Outdoor was that we wanted to communicate this in an innovative fashion. Platinum Outdoor’s execution has been spot on and together we have been able to create an interesting, eye-catching visual using the tools of modern-day marketing.”
Says Dipankar Sanyal, CEO, Platinum Outdoor “In our decade long relationship with Kotak Mahindra Bank, we have always strived to make the campaigns stand out by use of our tools for effective planning and innovations. In the current 6.65% Home Loan Rates campaign, we have followed a similar route. We have looked at more innovations by using first of its kind media like the digital display on water near Bandra. We have used some large format billboards to amplify the 6.65% story. Kotak was also the first brand to explore potential through a newly opened space at Bandra ROB with an innovative rendition of dual under construction set up with living area aesthetics. Kotak has always been at the forefront in developing extremely effective out of home campaigns and we feel privileged in partnering them.”