Pioneering rural financial empowerment with purpose-driven OOH/DOOH
Rajesh Radhakrishnan, Co-Founder & Chief Marketing Officer, Vritti Mindwave Media shares his viewpoint on how OOH and DOOH campaigns can be effectively fashioned to enhance financial inclusivity in the non-metro markets and the rural hinterland.
In the dynamic realm of the BFSI sector comprising banking, insurance, gold loan, microfinance, MSME, and personal loan companies a realisation is dawning – the immense potential embedded in rural markets awaits exploration. As the sector adapts, the inadequacy of traditional methods to reach every nook and corner of the country becomes evident. Enter OOH and DOOH campaigns – a dynamic duo poised to redefine how BFSI companies engage with indispensable rural customers.
The post-COVID resurgence in rural economies, coupled with a strengthening labour market, has set the stage for BFSI players to make an impactful foray into the heartland.
This festive season provided an opportune moment for the BFSI sector to interweave its narrative into the fabric of rural communities. Purpose-driven, community-centric OOH campaigns unfolded, creating awareness about flexible loans and enticingly low-interest rates. The result was a visual spectacle that captivated the masses – banners dancing in the breeze, billboards illuminating the night sky, and bus stands transforming into immersive advertising zones.
ATL to BTL transition
Transitioning from Above-The-Line (ATL) to Below-The-Line (BTL) strategies, BFSI companies leverage OOH and DOOH to transcend traditional advertising norms. Competitive interest rates and promises of financial empowerment are communicated directly to the audience. The integration of awareness-driven community campaigns with the potency of audio-visual-based digital advertising ensures a message that resonates personally.
Harnessing renewed vigour
OOH and DOOH campaigns tap into the newfound vigour in rural economies, emphasising the pivotal role of financial products in fostering entrepreneurship and supporting livelihoods.
Innovative OOH campaigns highlight loan flexibility, establishing direct communication with the audience. Utilising 360-degree marketing at pivotal touchpoints, such as, rural state bus stations, creates an immersive experience beyond traditional advertising. Audio-video campaigns in these locations effectively convey the benefits of BFSI offerings, extending awareness beyond the visual realm.
Precision marketing with geo-fencing and analytics
The integration of geo-fencing and analytics with OOH and DOOH campaigns allows BFSI players to precisely target specific regions and demographics. This precision ensures the message reaches those who stand to benefit the most. Seamless incorporation of Call-To-Action (CTA) elements directs potential customers to instant Microfinance, MSME, personal, or educational loans.
Financial inclusion through bank accounts opening, gold loans and insurance
Opening of new bank accounts, Gold loans and insurance products emerge as potent tools for financial inclusion. Strategically placing OOH and DOOH campaigns in areas with high gold ownership and limited insurance penetration creates avenues for economic empowerment. These purpose-driven campaigns go beyond transactional relationships, fostering genuine trust through storytelling and emotional connections.
Localised messaging in vernacular languages
The strength of OOH and DOOH campaigns lies in their ability to connect with local communities. Tailoring messages to resonate with the nuances of regional cultures and using vernacular languages ensures BFSI players become an integral part of the community. This localised approach builds a bridge between the brand and its audience, establishing a relationship beyond mere financial transactions.
Audio advertising and regional influencer collaboration
Audio advertising, including jingles and purpose-driven campaigns, becomes a powerful tool in the rural landscape where oral traditions thrive. Collaborating with regional influencers further amplifies messages through digital channels like YouTube, Instagram, Facebook, Google, and Twitter. This multi-pronged approach ensures BFSI companies are not just seen but heard in the hearts of rural India.
The BFSI sector's venture into innovative OOH and DOOH campaigns transcends mere marketing evolution; it signifies a societal transformation. By strategically leveraging these dynamic channels, BFSI players craft a narrative extending beyond financial transactions, fostering lasting relationships, and driving genuine financial inclusion in the rural heartland. The journey from ATL to BTL strategies, precision marketing, and the infusion of regional flavours in messaging cements the BFSI sector as an integral contributor to the rural growth narrative.
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