From doing cross-selling exercises to organising school-level painting competitions, promotional activities are going to be the main focus of HDFC Bank's marketing strategy this year.
Mr Ajay Kelkar, Vice-President and Head, Marketing, HDFC Bank, said, "We are looking at positioning HDFC as a one-stop financial supermarket and the objective of the promos is not just acquisition of new customers, but we are also looking at creating product awareness, enhancing usage and also providing value-adds to our customers to reward them for their faith and loyalty."
The first promo this year is titled Wheels Of Fortune, which will be on during the month of January. "This promo is targeted at all those customers who avail a personal loan, car or two-wheeler loan. There will be a lucky draw at the end of the promo and the winners would get exotic prizes."
Also on the cards is a school-level painting competition on wildlife across cities to promote the Kids Advantage account.
The next step to these mass promos, according to Mr Kelkar, would be more personalised promos. "We plan to send personalised mailers about our various products to all those we come in contact with during these mass promotions."
The bank has also tied up with Business Today, to sponsor 10,000 copies of the magazine in each metro. The cover of the sponsored copies would be the December 2003 issue of Business Today, which rated HDFC Bank as the best bank in the country. On the opposite side, would be an advertorial which would talk about HDFC as a `one-stop financial supermarket'. "These copies would be circulated among top corporates and our high-profile customers," said Mr Kelkar.
He said that below-the-line promotions constitute a major part of the bank's overall marketing plans this year, and therefore, a large percentage of the marketing budget is allocated to promos. "These promotions are conducted based on the results thrown up by data analysis and data mining. Therefore, they are intended to have maximum impact on our target audience."