In a significant development, SBI Mutual Funds has awarded its media planning and buying mandate to OMD (Optimum Media Direction.) The size of the account is estimated to be in the region of Rs 15-20 crore.
Mediaedge: cia, The Media Edge and Mediacom were the other agencies in the fray.
The pitch-process was three-fold. SBI Mutual Funds had initially called for a credentials and declaration round, wherein questions were put across the board about the network and infrastructure of the agencies in question. The second stage consisted of key presentations on the SBI brand and mutual funds as a category. In a short-listing of sorts, Mediacom and OMD were the agencies that the company narrowed down.
The development was confirmed by Sanjay Bhattacharjee (Senior Manager and Head of Corporate Communications, SBI Mutual Funds.)
Bhattacharjee said, "We chose OMD, because we felt that their vision matched the qualities that the SBI brand stands for. The team that pitched displayed planning and buying efficiency, in addition to tools and systems. We felt that OMD would lend maximum focus on the SBI Mutual Funds brand, and stream-line the right media mix for the task at hand."
Bhattacharjee added, "We are sure that it's going to be a great partnership with OMD. We are extremely confident that they would fulfill the mandate in the best possible way."
Meanwhile Sandip Tarkas, CEO, OMD, said, "We are pleased to be handling the SBI Mutual Funds account. As a category, mutual funds offers exciting prospects and a great deal can be done around the SBI brand. It's a significant piece of business for us."
The incumbent to the account was Mediedge:cia. Meanwhile on the creative side, SBI Mutual Funds has retained JWT as its agency.