Mumbai, June 21: While few tangible gains were expected from the `ICICI Safe Hands Contest' -- the intangibles could prove very valuable for ICICI. The contest, which was launched to build greater interaction with customers, seems to have received a tumultuous response from the public.Says Madhvi Puri Buch, joint general manager, ICICI: ``We have received over 10,000 entries from across the nation. The impact of this kind of advertising is image-driven and long-term. In fact, this contest has helped us reposition our brand as a modern, dynamic and friendly institution.'' More importantly, the contest has helped ICICI capture a relevant database for future selling and cross-selling of its products.
Press advertisements for the ICICI's Safe Hands Contest during the World Cup asked: ``Who will have the safest hands in the ICC World Cup?'' Under the contest, all a participant had to do was to answer a question and write a slogan to win a holiday package to Europe. ``You did not have to buy anything to enterthe contest. As we have combined our safety message with cricket, we have received maximum letters from youngsters. And it was interesting to see what they think of ICICI,'' explains Buch.
According to Buch, most people consider the ICICI as a large, conservative and intimidating institution. ``We wanted to reposition ICICI as a friendly, young and caring institution. And through this contest, we could achieve it to a certain extent. We could also reach out to the youth segment,'' elaborates Buch According to Ajay Kakar, vice-president, O&M Financial, the contest was a cost-effective way to be associated with the mega sports event. ``As there was no entry fee, any one could enter the contest. As the contest created immense excitement, we could maintain the brand presence during the event,'' says Kakar.
According to Kakar, this event also gave the institution an opportunity to reinforce its brand message-- `it pays to be safe with ICICI.' Buch says that the contest has also created a media hype aroundICICI. ``We loved being a part of the action. Our objective is to demonstrate to our individual household customers that we are really serious about being a part of their lives.
And this contest was the right platform to air the message,'' adds Buch. Her hope: ICICI can now bank on the consumer's goodwill.
Copyright © 1999 Indian Express Newspapers (Bombay) Ltd.
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