NEW DELHI: As the fiscal year enters the final quarter, a whole gamut of financial institutions are seen to mark a visible presence in the outdoor to reach out to the sizeable segment of professionals and entrepreneurs who would be considering the various tax planning options before finalising their investment plans for the year.
IDFC is a trusted name in the realm of financial services. Leveraging the enormous goodwill that the financial behemoth enjoys in the Indian markets and to present a compelling tax saving option to a willing audience, IDFC has taken the outdoor route to showcase its long-term infrastructure bonds called ‘IDFC Infra Bonds’.
What is notable about ‘IDFC Infra Bonds’ is that it offers an additional window of tax deduction of investments up to Rs 20,000 for fiscal 2010-11. This deduction is over and above the Rs 1 lakh deduction available under specific sections of the Income Tax Act. The IDFC outdoor campaign is thus aimed at drawing maximum eyeballs to the financial product.
For this, the financial major vested the campaign duties with MOMS, the OOH arm of Madison World, just as it had done in October 2010. MOMS had also executed two campaigns of IDFC Mutual Fund in January and March 2010.
The current campaign has been rolled out in 30 cities including Mumbai, Delhi, Kolkata, Bangalore, Hyderabad, Chennai, Pune, Ahmedabad, Nagpur, Goa, Mangalore, Ranchi, Patna, Guwahati, Baroda,
Surat, Rajkot, Jamnagar, Vishakhapatnam, Lucknow, Kanpur, Allahabad, Amritsar, Ludhiana, Chandigarh, Cochin, Bhopal, Indore and Jaipur. The campaign began on January 17 and will continue until February 4. Pertinent to note that Lowe has done the creatives of the campaign.
To reach out to a large audience, MOMS has used a broad media mix including hoardings, bqs branding, bus exterior branding, unipoles, gantries and railway station branding.
Commenting on the campaign, Anirban Ghosh, business director, MOMS, said the client brief was to position the campaign in a way that it connected with people in the SEC A & B segments with an annual income of more than Rs 6 lakh plus who can invest in the bonds over and above the standard investment of Rs 1 lakh in various tax saving products available in the financial markets.
Talking about the campaign execution, he said, “We did some homework before finalising the strategy for this campaign. We had the advantage of having done the campaign for the same product a few months ago. Hence we referred to the data to understand the level of
pan-India penetration of the product and based on this we decided to focus on those areas that were likely to generate the highest response for the product.”
IDFC had launched an impactful OOH campaign in October 2010 wherein the product was positioned to cater to the aspirational class that aligns the country’s progress with their own individual growth. The campaign was centred on the idea that the fund would serve India in developing more airports, power projects, roads and bridges.
It may be recalled that the IDFC Mutual Fund was highly visible in the last quarter of fiscal 2009-10 when it launched a campaign to promote the IDFC Tax Advantage (ELSS) Fund in March 2010. Earlier, in January 2010, the mutual fund had launched a campaign in the metros and
Tier I & II cities to position its open-ended fund of funds scheme called IDFC Monthly Income Plan that promised to generate regular returns through investment primarily in debt-oriented mutual fund schemes, as opposed to equity-linked plans.