Edelweiss Capital Ltd has decided on the agencies to handle its creative and media duties, which jointly amount to Rs 15 crore. While PerceptH has got the creative mandate, Mediacom will handle the media duties. The financial services company had called for a pitch in January 2008, wherein the brief to the agencies was to provide solutions for launching a ‘me-too’ product in the financial services space. RK Swamy BBDO is the incumbent agency.
Commenting on the brief given for the pitch call, Rajiv Bantwal, VP-Marketing Communications, Edelweiss Capital, said, “We were very clear that we did not want to see any creative output – the agency should only concentrate on providing cutting-edge strategic solutions and demonstrable domain knowledge.”
Agencies like Leo Burnett Financial and Network, besides the incumbent agency RK Swamy BBDO, had taken part in the creative pitch, while Zenith Optimedia was the only other agency competing with Mediacom for the media business.
“The estimated ad spends would be in the region of Rs 15 crore,” added Bantwal.
Commenting on the win, Ajay Chandwani, CEO, PerceptH, said, “PerceptH has developed a very good understanding of the financial services consumer, which is vital to a client like Edelweiss. Getting the consumer pulse right has helped us win several new businesses in the last few months.”
“We demonstrated our superior understanding of the financial services’ category. We are extremely proud to work on this brand,” said Prabhakar Mundkur, COO, PerceptH.
Edelweiss’ financial services include investment banking, institutional equities, private client broking, asset management, wealth management, insurance broking and wholesale financing to corporate, institutional and high net worth individual clients. It operates from 43 offices in 19 Indian cities.