Citibank India’s marketing campaign, titled ‘Citibank EMI Chasers’, has been listed as one of the top 20 entries in the WARC List of Innovations 2012. This campaign was the only Banking, Financial Services and Insurance (BFSI) industry entry to feature in the list of 20 most innovative campaigns across the world. WARC, a UK based Global Centre of Marketing & Research excellence, is relied upon as an independent and authoritative source by marketing professionals worldwide.
Citibank India ran the ‘EMI Chasers Campaign’ during the Diwali festival in 2011, where it maximised advertising impact by placing adverts in close proximity to the goods that could be purchased via EMIs (interest free equated monthly installment). The campaign was envisaged and executed across consumer touch points and high concentration areas such as malls, multiplexes and retail outlets. Citibank’s EMI chasers campaign concentrated on features such as interest free equated monthly installments offer as an enabler to encourage consumers to comfortably spend more on high-end products during the festive season. Citibank developed this campaign along with its media agency MEC.
Commenting on the success of the campaign, Sanjeev Kapur, Chief Marketing Officer, Citi India, said, “This is an outstanding example of how Citibank, along with MEC, devised a truly innovative communication approach in order to deliver our EMI product proposition during the festive season. This helped us engage with our consumers in a clutter breaking fashion and helped deliver fabulous business results.”
The campaign helped Citibank post a 36 per cent growth in value for EMI and the average value of an EMI transaction went up by 48 per cent from Q3 to Q4 2011 for Citibank.
T Gangadhar, Managing Director, MEC India, said “This campaign was one of the most challenging campaigns as it is tough to innovate in the BFSI segment. We are extremely pleased with our efforts and achievement. The innovation stayed true to delivering the business objective and that makes it even more special.”