‘Retirement from work, Not life’, that’s what the ICICI Prudential Life’s communication conveys to its target audience. Expressing that the positioning helped the brand in its previous campaign, marketing head of ICICI Pru, Abhishek Bhatia shares his views on the reasons for using it in the latest ICICI Pru campaign as well and the expectations the company holds.
The new multimedia campaign of ICICI Pru revolves around a central character shown in different family and work situations behaving in a child-like manner. Where there isn’t a marketing difference, the new campaign does differentiate itself from the previous one in terms of advertising. Produced by Ram Madhvani, the editorial inputs like sound track and other detailing in the campaign have been different to give it a nostalgic touch unlike the upbeat theme the previous one had.
“The idea is to convey the promise of the bliss that childhood embodies,” says Bhatia, “This is a result of a consumer research we carried, where the insight was that many feel that if it were not the work related and financial stresses one faces in everyday life, he would experience the carefree attitude of a child, which all of us yearn for. So we gave the word ‘life’ a different spin altogether.”
Sharing more on this he explains that the communication brought together two extremes – retirement, marking old age and the yearning to be a child again, “Together this gave us a beautiful insight. For this campaign, we realised that people know of the problems of tomorrow so the communication would be more effective if we brought in a glimpse of yesteryear in present day.”
As per him, a reason why ICICI Prudential decided to continue with the proposition was due to the manner in which it worked for the brand previously. “Again, based on a consumer insight, the word ‘retirement’ is seen in a negative light. We worked on this to bring out the negativity from it. Today the average age of our customer is 38 years, which is very young, indicating the acceptance of the previous campaign.”
Bhatia states that ICICI Prudential Life now claims a market share of 31 per cent, “Where we had a target of Rs 40 crore last year, we made Rs 74 crore, backed on this campaign and not to mention a Silver Effie. So this time the expectations are way higher.”