Chief Marketing Officer | 17 Jun 2013
Every advertiser has their own understanding and need of media. OOH has often been used as a primary launch medium to break a campaign, or even before that, to create teasers. It’s not a choice, but a compulsion for every advertiser to include OOH in their plan; else they lose out on the large traveling population during their long timeshare of the day. But the share of spend on OOH in the plan outlay has to also grow.
Prasenjeet Bagchi has an extensive 14 years of experience in the field of marketing and sales. In his current role as Chief Marketing Officer, he aims to take a step towards introducing luxury cab services in India at affordable prices with one-of-a-kind experience. Bagchi is responsible for the marketing function of the leader in car rentals in a highly competitive industry.
In conversation with exchange4media Priyanka Nair, Bagchi speaks at length about the potential of cab branding, the out of home industry in general and the road ahead.
Q. How has transit media evolved as an advertising platform in recent times?
Transit media was always a passive medium and never considered equal to other outdoor mediums because of two reasons – the look and feel of the vehicle was always very poor, like city buses, old taxis, etc., and lack of monitoring of display. As the cities grew, the transport system also grew and as a result today we can see metro trains, high speed AC buses, world class brand cars as taxis. All of these have made the audience sit up and take notice of these vehicles, which has made the medium grow. In Mumbai, we have seen a significant number of advertisers’ campaigns frequently opting for transit mediums, and especially our TABcab TaxiAds.
Q. OOH is going beyond being a recall medium to become a compulsive element of every media plan. What is your take on this recognition?
Every advertiser has their own understanding and need of media. OOH has often been used as a primary launch medium to break a campaign, or even before that, to create teasers. It’s not a choice, but a compulsion for every advertiser to include OOH in their plan; else they lose out on the large traveling population during their long timeshare of the day. But the share of spend on OOH in the plan outlay has to also grow, which can give better results to advertisers, which is still not happening and that’s the challenge that OOH faces today.
Q. Competition in the OOH market is becoming intense, and so is the clutter. How do you plan to remain competitive and work towards breaking through the clutter?
This is happening because of the spend share for OOH is not growing, while there are new mediums evolving within OOH, which is taking the competition within all OOH mediums up every day. We are a new medium and are obviously claiming someone else’s pie because of that medium’s inefficiency. Clients are smart enough to evaluate their campaigns, and because they want better results, they are choosing that medium which gives them better RoI.
We have been experimented by most of the advertisers in Mumbai and they have all found better RoI in TABcab’s TaxiAds, and that’s why most of them have repeated their campaigns. We will be more effective as a medium with cleaner and better cars, externally as well as internally, so that they stand out and offer a better reason to be seen by the audience, which will result in better RoI for the advertiser.
Q. What are the advantages that a brand can get by using cab branding?
In Mumbai, each advertisement on TABcab produces 500 impressions per Km and 1 lakh impressions per day, which is the highest reach and frequency at the lowest CPC of Rs 0.004 even at per month’s branding cost of Rs 12,000 per cab, which is our card rate. Pertaining to long travel time on road in Mumbai, this the only form of advertising which reaches out to every nook and corner of the city, is intrusive and is seen by all demographic profile of audience (including the top ones) in the most effective manner.
Q. What are the promotional exercises that TABcab takes for its own branding?
We are present across all mediums for communication of the TABcab brand. We have done mainline print, outdoor, digital as well as social media and BTL. We have also used our own TaxiAds to communicate about the brand. We are currently running a digital campaign along with a Pocket Marketing Road Show (BTL) with our own brand communication on TaxiAds across Mumbai.
Q. What is the percentage revenue share you get from the cab advertising business?
We get around 12-15 per cent of our revenues from the TaxiAds business.
Q. Please elaborate on some of your current campaigns.
We are running various campaigns currently, out of which my personal favourite is Park Avenue deodorant, Tata Swach and Comedy Central ‘Suits 2’. We run almost seven to eight campaigns of average size in 200 cabs every month, which fills up our inventory of 1,600 cabs out of 1,850 on-road cabs. As soon as we have 2,800 cabs on road, these occupancy numbers are also expected to go up.
Q. How was H1 of 2013 for TABcab in terms of advertising?
We’ve had a very good start in 2013 and H1 orders have crossed the targeted 70-per cent occupancy mark.
Q. What are the things on your priority list for the second half of the year?
In the second half of the year, we want to utilise additional communication touch points such as airport counters, in-cab sampling and activation ideas. Building more engagement platforms and utilising them for revenue maximisation will be the focus area.