'Smaller markets offer better value'

By: M4G Bureau

Last updated : July 27, 2017 9:23 pm



An L&T Finance Holdings spokesperson tells Outdoor Asia how the OOH medium has delivered expectations.


Impact of economy on marketing and advertising budgets

Typically, any marketing activity for a product, service or business at Financial Services is planned in advance so a new policy announcement or a situation that emerges will be evaluated, but need not affect the plans.
 
Role of OOH in the overall marketing plans

Every medium in the marketing mix has its own role to play and OOH is an important medium for our B2C businesses. It also depends on the purpose of the campaign. If it is a product launch campaign, outdoor definitely plays an important role in awareness building.

By definition, outdoor is a reminder medium and is associated with the words "multiplier effect” and "buzz”. Both aptly describe the impact of OOH as it does not offer a formal or tangible system to measure ROI.

Print, TV Outdoor, Radio, Cinema, the Internet and new media, events have distinctive roles to play in the media mix - mass reach, frequency, lead generation, image building, brand recall enhancement, salience building and so on. So, it would not be fair to compare one medium with another. For our businesses, OOH has delivered to expectations.

Preferred Formats

Outdoor is an important part of our mass market businesses and over time we have used bill boards including spectacular sites such as a three-way site, bus shelters, overhead properties such as bridges, pillar branding and OOH screens.

Approach to OOH campaign creative

Creative executions of our outdoor campaigns have by far and large mirrored the print execution courtesy the appointed role for Outdoor in the media mix. However, innovation in the space is an aspect that any marketer would be happy to do. 

Markets - Challenges and Opportunities

Mumbai is the most expensive, followed by Delhi. Smaller markets across the country offer better value for money and an advertiser can keep a message up for a full 30 days instead of a 15-day burst.

Defining innovation

What is very important for an innovation is newness.  The building wrap done in Mumbai by Pepsi has still not been matched as an idea: It used the brown jute material used to cover buildings under repair as real estate!  It was new, smart and endeared  consumers to the brand and the cost was not formidable at all. Today, the idea of the innovation is more talked about than the innovation!

Measurement (of impact)

As a marketer, we use a special toll free no or an SMS code to measure efficacy.

Role of and expectations from specialist agencies

Formats and structures need to advance and to be seen as specialists, value needs to be delivered.
 
Message to media owners

Outdoor properties need maintenance.

Factor s that will drive spends

1. A formal ROI measuring system.
2. Regulation by an authority. 

L&T Finance Holdings

First Published : February 10, 2014 12:00 am