BWI: Citibank India’s ‘EMI Chasers’ Campaign Receives Global Recognition

Press release from Business Wire India
Source: Citigroup Inc.
Thursday, August 23, 2012 02:45 PM IST (09:15 AM GMT)
Editors: General: Consumer interest, People; Business: Advertising, PR & marketing, Banking & financial services, Business services, Financial Analyst, Major diversified industrial groups, Media & entertainment
--------------------------------------------------
Citibank India's 'EMI Chasers' Campaign Receives Global Recognition
Among the top 20 entries in the prestigious WARC List of Innovations 2012

Mumbai, Maharashtra, India, Thursday, August 23, 2012 -- (Business Wire India) -- Citibank India's Marketing Campaign titled, 'Citibank EMI Chasers' has been listed as one of the top 20 entries in the WARC List of Innovations 2012. This campaign was the only Banking, Financial Services and Insurance (BFSI) industry entry to feature in the list of 20 most innovative campaigns across the world. WARC, a UK based Global Centre of Marketing & Research excellence, is relied upon as an independent and authoritative source by marketing professionals worldwide.

Citibank India ran the 'EMI Chasers Campaign' during the Diwali festival in 2011 where it maximized advertising impact by placing adverts in close proximity to the goods that could be purchased via EMIs (interest free equated monthly installment). The campaign was envisaged and executed across consumer touch points and high concentration areas such as malls, multiplexes and retail outlets. Citibank's EMI chasers campaign concentrated on features such as interest free equated monthly installments offer as an enabler to encourage consumers to comfortably spend more on high-end products during the festive season. Citibank developed this campaign along with its media agency MEC.

Commenting on the success of the campaign, Mr. Sanjeev Kapur, Chief Marketing Officer, Citi India said "This is an outstanding example of how Citibank along with MEC devised a truly innovative communication approach in order to deliver our EMI product proposition during the festive season. This helped us engage with our consumers in a clutter breaking fashion and helped deliver fabulous business results."

The Citibank EMI Chasers Campaign owes its prestigious standing to its smartly engineered plan which gave results disproportionate to the investments. The campaign helped Citibank post a 36% growth in value for EMI and the average value of an EMI transaction went up by 48% during the campaign period.

Mr. T Gangadhar, Managing Director, MEC India said; "This campaign was one of the most challenging as it is tough to innovate in the BFSI segment. We are extremely pleased with our efforts and achievement. The innovation stayed true to delivering the business objective and that makes it even more special."

About Citi

Committed to India for over 110 years, Citi takes pride in being a premier locally-embedded financial institution backed by an unmatched international network. Citi's presence in India spans 42 Citibank branches across 30 cities and over 700 ATMs. With capital invested of around US$4 billion, Citi is the single largest foreign direct investor in the financial services industry in India and offers consumers and institutions a broad range of financial products and services, including consumer banking and credit, corporate and investment banking, securities brokerage, and wealth management. Citi is an employer of choice to approximately 7600 employees in India. Citi's franchise in India includes businesses such as equity brokerage, equities distribution, private banking (Citi Private Bank) and alternate investments and private equity (CVCI). In line with our commitment to make a positive difference in the communities where we work, Citi India's citizenship programme targets its strategic efforts in the priority focus areas of Financial Capability & Asset Building, Microfinance, Enterprise Development, and Youth, Education & Livelihoods. Additional information may be found at http://www.online.citibank.co.in/press-room/citi-in-india.htm



CONTACT DETAILS
Jane Ong, +91 22 40015050, jane.g.ong@citi.com
Debasis Ghosh, +91 22 40015009, debasis.ghosh@citi.com
Pooja Ahluwalia, +91 124 4186868, pooja.ahluwalia@citi.com
Ritish Das Gupta, +91 9870247298, rdasgupta@ipanhillandknowlton.com

KEYWORDS
CONSUMER, PEOPLE, MARKETING, BANKING, BUSINESS SERVICES, Financial Analyst, GROUPS, MEDIA

If you wish to change your Business Wire India selection please click on this link http://www.businesswireindia.com/media/news.asp and use your personal username and password to login.

Submit your press release at http://www.businesswireindia.com