|Brand||UNION BANK OF INDIA|
|Product / Service||UNION BANK HOME LOANS|
|Entrant||MUDRA COMMUNICATIONS Mumbai, INDIA|
|Entrant Company:||MUDRA COMMUNICATIONS Mumbai, INDIA|
|DM/Advertising Agency:||MUDRA COMMUNICATIONS Mumbai, INDIA|
|Bobby Pawar||Mudra Communications||Chief Creative Officer|
|KB Vinod||Mudra Communications||Executive Creative Director|
|Karunasagar Sridharan||Mudra Communications||Copywriter|
|Preeti Verma||Mudra Communications||Art Director|
|Nirav Mehta||Mudra Communications||Photographer|
The objective of the campaign was to inform customers about attractive loan products from Union Bank of India. In big cities like Mumbai, people who stay in apartments tend to keep moving every few years, to cope with steep rent hikes. We decided to specifically speak to this audience and offer them stability.
In big cities like Mumbai, people who stay in apartments tend to keep moving every few years, to cope with steep rent hikes. They wish to settle down eventually, but end up procrastinating until it becomes a necessity. We identified this group by merely probing our own database, and urged them to take the next step by going through our loan schemes. Instead of opting for expensive mainline advertising, we targeted the specific group that was most likely to be interested in the loan products.
Long time customers of Union Bank were sent mailers that traced the path taken by them, from one residence to another. Originally addressed to the customer’s oldest residence, the mailer appeared to have been redirected from one house to the next, all the way to his current home. Inside the original envelope was a message urging him to consider getting a house of his own. The bank’s databases were probed to identify customers who frequently submitted ‘change of address’ notifications to the bank, and their older recorded addresses were obtained to create personalized mailers.
The activity was carried out in 3 major cities. A comprehensive list of long-time customers were shortlisted from the bank’s database and sent personalized mailers. Over 65% of the customers on the list called up the helpline or visited a branch over the next 6 weeks. In addition, the helpline received 38% more inquiries about home loans during the period of the activity.