Kotak Mahindra Bank: Subbu 6% campaign
Karthi Marshan, Khushnum Ichhaporia and D. Ramakrishnan
Brand owner: Kotak Mahindra Bank
Agency: Cartwheel Creative Agency
Brand: Kotak Mahindra Bank
Channels used: Internet – display, Internet – general, Newspapers, Online video, Outdoor, out-of-home, Point-of-purchase, in-store media, Print – general, unspecified, Public relations, Social media, Television, Television – direct response
Media budget: 3 – 5 million
Kotak Mahindra Finance Ltd was incorporated in 1985 and converted into a bank in 2003. Over the years, it has built a reputation in retail banking, insurance, brokerage and investment banking and the bank's communication has always revolved around smart money decisions. Therefore, when the Reserve Bank of India (RBI) announced the savings account deregulation on 25 October 2011, Kotak Mahindra Bank took the plunge. Although the concept of offering customers a higher (6%) interest on their savings account was simple, communicating the message and generating business was challenging.