‘Metro station branding has emerged as an integral part of our media mix’
By Rajiv Raghunath - November 16, 2023
Abhinav Iyer, Senior General Manager – Marketing & Strategy, The Muthoot Group shares his perspective on the brand’s outlook on transit media, Metro media in particular, in the wake of the launch of ‘The Muthoot Group Railway Station’ metro in Jaipur. Excerpts of the interview with Rajiv Raghunath
The Muthoot Group is a strong believer in the efficacy of transit media branding and advertising. Please share your particular experience with using Metro media assets for your branding initiatives.
Yes, we have always been a strong believer in the efficacy of transit media. It has enabled us to reach the masses in a powerful way and build brand recognition. Especially for us, it has greatly facilitated in reinforcing our gold loan category leadership.
In fact, over the last 5+ years transit media has played a pivotal role in our advertising and communication strategy. Over these recent years, transit media, and particularly metro station led branding has emerged as an integral part of our media mix. In 2018 we first carried out the semi-naming rights led branding of Greater Kailash Metro Station in Delhi, rechristening it as The Muthoot Group Greater Kailash Metro Station.
The execution was brilliant, and it soon became a great talking point nationally. Buoyed by its success, we flagged off our second semi-naming rights led metro branding at Chennai with The Muthoot Group Nandanam Metro Station in 2019. At that time, we had also partnered with Chennai Super Kings as their Principal Team Sponsor. Being in the heart of Chennai city and with some great creative renditions, it immediately rose to prominence and gave us unprecedented brand visibility.
And now, we are extremely glad to share the inauguration and launch of our 3rd semi-naming rights led metro station branding. This time it is pink-city Jaipur. Railway Station metro in Jaipur city is one of the largest and we are extremely delighted to present ‘The Muthoot Group Railway Station’ metro.
What is the duration for which you have taken up the semi-naming rights of the station on Jaipur Metro rail network?
We have always engaged in long term partnerships with all our partners across metro stations be it Delhi, Chennai or Jaipur. We strongly believe that these properties, if done well and maintained meticulously, could emerge as a signature property for the brand within the city. However, we need to stay invested for a reasonably long period of time. Once established, such properties can tremendously help capture the mindshare of your audiences.
What are your business expectations from this initiative? What are the highlights of this branding exercise and how do you plan to leverage the branding at this location?
We at The Muthoot Group have a strong ROI focus while engaging in any marketing initiative. However, this is largely a brand reinforcement initiative. We have more than 150 branches in the state of Rajasthan and more than 80 branches in Jaipur city alone. Considering our strong presence in the city and the state, we felt a growing need to have a strong visible presence there and semi-naming rights of Jaipur’s Railway Station Metro was a great way to achieve that objective. We strongly believe that such branding initiatives greatly helps brand recall and build top-of-mind awareness.