Yes Bank, India’s fourth largest private banking player, has come out with an outdoor campaign for the first time. The first phase of the communication exercise has taken off in Mumbai and Delhi and is specifically targeted at retail players. In the two cities, the OOH campaigns involves close to 100 bus shelters in key high traffic locations, 500 radio cabs and at strategic points such as baggage claim, immigration counters and transit lounges in the Mumbai and Delhi airports, with a view to creating optimal frequency for the brand in each location.
Explaining the rationale behind including OOH in their marketing mix this time, Anindya Datta, CMO, Yes Bank said, “At Yes Bank, we have sequentially and in a calibrated manner targeted our ATL initiatives. Additionally, we already have a significant presence in the print and television advertising space. Our Version 2.0 goals focus on ramping up our retail presence; hence, having good on-ground visibility is critical from an effective brand recall perspective. Moreover, we wanted to emphasise a strong reinforcement of the brand in our Branch Service Areas (BSA). The OOH medium works well in the BSA marketing approach, with a strong branch channel fulfillment. In the coming year, we will look at leveraging the same in other formats as well.”
The creative has been designed by the bank’s creative AOR, Triton Communications, while Brand Connect, a specialist OOH agency, has handled the media buying duties. On specifically targeting the two cities, Datta stated, “Delhi, NCR and Mumbai have a very significant brand density across the city coupled with a very strong cluster and network impacts. We wanted to amplify our communication in these cities by adding a new medium in the already diverse media mix and gauge the response to the campaign from these locations. Following which we would consider replicating the same in other priority cities as well.”
The bank has concentrated its efforts on the lifecycle needs of the Indian consumer in his personal, professional and entrepreneurial capacity. It has a strong segmental focus with emphasis on senior citizens and youth who are the points of first market entry. Additionally, there are specialised products for key segments such as the armed forces and professionals like doctors, lawyers, etc.
Elaborating on product offerings focused on through the OOH campaign, Datta said, “At present, our communications/ marketing focus is to highlight our most successful and innovative retail offer of 7 per cent interest rates in savings account with significant features, in addition to continuing focus on the brand. All the communications vehicles, including Direct Contact Programmes and Direct Mailing, have been exploited. This has been well-received by our target audiences. We will soon explore on communicating our other unique products.”
Yes Bank’s branch network has significantly increased and has proliferated to over 250 locations across India. Though currently the bank has a larger percentage of branches in the Northern and Western corridors, it is increasing concentration in the Southern and Eastern states as well. North East also figures prominently in the bank’s branch expansion strategy.
“We also plan to be present in all key trade corridors like the upcoming DMIC corridor and we also have a definitive strategy of being present in key NRI locations in Punjab, Gujarat and Kerala. We are now a truly pan-India bank and with a fast increasing customer base, our marketing/ advertising spends are increasing accordingly. We have been spending more on customer-centric communication, including the heavy burst through the strategic outdoor and airport campaign. We would be looking to up our marketing share of voice by at least 40 per cent year-on-year,” Datta concluded.