‘Nanayam Vikatan’, a fortnightly financial advisor from the Vikatan Group, has kicked off after months of trial – and has met with success, according to the group’s top management.
Having worked on creating awareness for the magazine through its group publications – flagship ‘Ananda Vikatan’, ‘Junior Vikatan’ and women’s magazine ‘Aval Vikatan’ – the ensuing feedback had resulted in changes to the ‘mix and depth’ of content in four dummy issues. While ‘Ananda Vikatan’ had content on the lines of stories of innovators, ‘Aval Vikatan’ addressed the housewife with investment decisions of relevance to her.
“We have been talking to 9-10 lakh buyers of our other publications on a regular basis. Besides the ‘Nanayam’ content sections in the individual magazines, we had also created awareness with sample issues right from September,” said B Srinivasan, Joint Managing Director, Vikatan Group, who is also donning the mantle of Editor for the new fortnightly.
The response has been healthy. Of the 15,000 readers, who wrote in asking for the sample copy, over 7,000 have shared their feedbacks with the group on the dummy issues.
Srinivasan explained, “The readers were clearly sending out a message. They said, ‘don’t give us generalised articles. Give us more of the technicalities in a language we understand and give us details to help with actual investments.’ We adhered to that in subsequent issues and we are still working on the content model as far as mix and depth goes for it to benefit the actual investor.”
Though he refused to divulge details on the actual number of copies of the first issue, he said that it was a sold out on day one – an unprecedented success. Industry sources estimate that the print run would have been in the region of 100,000 to 130,000 copies.
Elaborating on targets, Srinivasan said, “This publication has much more to do with the target audience than the targeted sales figure. We are not looking to create an investor. We are reaching out to a completely new brand of public, one that is ready to invest and is looking for options, and wants the information in its own language.”
In the first editorial of the publication, the message is that the Rs 15 spent on the copy is the investor’s first investment. With additional publicity through spots on Sun TV and a print ad in ‘Dinamalar’ daily, this investment option from the house of Vikatan has been driven home.
However, the promotions have primarily been through its group publications. And with hardly any competition in this space, and the strong investment culture in Tamil Nadu, ‘Nanayam Vikatan’ seems to be a wise investment for the Vikatan Group.