Has radio died as a marketing tool? Can we still consider radio as a medium that reaches out to the masses? Many in the industry have been skeptical about the future of radio as an advertising medium. For Future Generali India Life Insurance Co Ltd, radio has proved to be an important medium to get recognition amid stiff competition.
Future Generali, which is present in both the life and non-life businesses, has been growing steadily since it was set up and has been able to break through the usual skepticism that greets a new insurance brand with no Indian recognition.
Future Generali, which has put in one-sixteenth of its marketing spend on radio, believes that it is a fact that radio being restricted to larger cities reaches out to limited listeners. Having said that, all financial services are using this medium as it reaches out to the service class, the salaried people, basically the people who would look forward to buying insurance. So, the graph of radio, according to Future Generali, is getting bigger and better in that aspect. Advertisers are increasing the investment on FM radio.
Also, not to forget the accessibility factor – radio is accessible anywhere and everywhere. It is a very viable medium when someone is on the move, be it in buses, cars or local trains. Most of us today use music systems, iPods, music on mobile phones and so on.
Speaking to exchange4media, Abraham Alapatt, Head - Brand and Corporate Communications, Future Generali, said, “Radio (FM) is a powerful media that helps directly and relatively cost-effectively to reach out to many office-goers in larger cities during their commute to and from work, and is, therefore, very important to use for campaigns like the Insurance Week, which require a large, quick and effective reach to Chief Wage Earners (CWE), youth and opinion leaders to spread awareness. Even otherwise, as insurers, our need is to reach out to the bread-winner and opinion leader of a family unit, and radio is a very effective media for this. Innovative scripts and ideas are key to making the use of the media more effective as innovation, humour, etc., can help get disproportionate attention in this media.”
Future Generali has been using FM radio heavily to promote its Insurance Week. The campaign is on for three weeks and covers nine metros and drives home the message of the importance of ensuring if we have enough insurance cover for our loved ones. People are being encouraged to support the Future Generali Insurance Week by going to the nearest Big Bazaar outlet and signing a balloon and dropping it in the drop box. The radio campaign is in line with their core television campaign , where the VO urges people to consider buying a simple Insurance Plan and sign up for Insurance Week at Big Bazaar. The tagline says: “Sign Karo Mukti Pao”.
Radio is looking to get back to the heydays of advertising glory. And brands like Future Generali are breathing a new life into the medium for a mutually beneficial growth story.