BankBazaar targets tier-2, tier-3 cities with TVC after a 30 month hiatus from television
The financial marketplace will advertise on TV with its 10s ad during the India-NZ T20 series
BankBazaar, a financial marketplace that has in the past relied mostly on digital advertising, has announced its return to the television space after 30 months with a new advertisement.
Justifying the use of TV after a long hiatus, Adhil Shetty, CEO, said, “At this point, our business is not only stable with positive unit economics, it is also on a path of aggressive growth. So, we are looking at TV to take our message of paperless financial products to an even wider audience, so that they could also experience the world class paperless platform and leverage its benefits.”
BankBazaar has benefitted immensely from digital advertising in the past. “At a time when everyone was looking to TV to build a brand, we went the other way and chose to go digital to connect with our audience in their own space. Today, we have proved our point by growing by almost 7X in the last two years from 3M visitors to 21M visitors a month—with more than 15 per cent of them opting for the paperless route in the last one year,” Shetty said.
BankBazaar has developed and executed several successful digital ad campaigns before including the very successful #Father’sDay and #PlayYourPart campaigns that brought the company brand recognition, viewer engagement, as well as awards and accolades.
Speaking about the choice to go the TV route this time, Prince Thomas, Head—Brand Marketing, said, “As an online company, the digital media is our home turf. So, it was almost intuitive for us to connect with our audience through that media, especially when we were still finding our feet. However, we have always believed in experimenting with different media and platforms and we have always understood and respected the power of TV as a media.”
The company will advertise on TV with its 10 second ad during the India-NZ T20 series. The ad highlights the travails of paperwork and presents BankBazaar as the paperless alternative for accessing personal finance products. Thomas said that the power of TV is especially strong in reaching tier-2 and tier-3 cities. “As BankBazaar looks to expand beyond the metro cities and make greater inroads in the tier-2 and tier-3 markets, we are looking at TV to help us put across our message of how paperless finance can simplify making and executing financial decisions,” he added.
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