Rediffusion-Y&R strides away with SBI Mutual Fund

The win comes on the back of a vigorously fought multi-agency pitch that was held in Mumbai. Agencies shortlisted for the final round included Rediffusion, Bates, Grey, Mudra and Law & Kenneth.

Rediffusion-Y&R is on a winning spree in the New Year. Close on the heels of retaining the ITC education and stationery business after a rigorous pitch held in Chennai, the agency has emerged victorious in another multi-agency pitch process. It has won the business of State Bank of India (SBI) Mutual Fund. The pitch was initiated around September, 2011 in Mumbai.

The pitch was part of a regular review process that the company conducts every three years.

It saw participation from more than 10 prominent ad agencies. Grey, Law & Kenneth, Bates, Mudra and Rediffusion fought it out in the final round.

Highly placed sources in the industry have confirmed this news to afaqs!. However, when contacted, D Rajappa, president, Rediffusion-Y&R declined to comment on the matter.

Sources inform that creative inputs presented by the agencies carried 70 per cent weight in the pitch; while 30 per cent weight was allotted to the financial aspect.

The creative agencies that have worked on communication for different parts of the SBI account in the recent past include Mode Advertising and Marketing (SBI Gold Deposit), R K Swamy BBDO, Ogilvy India (SBI Life), Percept/H (Mutual Fund), JWT (Mutual Fund) and Span Communications, amongst several others.

In July 2011, R K Swamy BBDO crafted an interesting advertising campaign for SBI, which highlighted its mobile banking offering. The campaign positioned the brand's mobile banking services as a perfect solution to persistent chores such as payment of bills on time, transfer of funds and mobile/direct-to-home recharges. The television commercial, titled Nagging Dwarfs, was based on the insight that in today's fast-paced world, one is always short of time and is often hounded by unfinished work.

It may also be recalled that in February 2010, Percept/H crafted a memorable ad campaign for SBI Mutual Fund that aimed to reach out to prospective investors through the message that investing in it saves taxes, along with returns on investment. The campaign focussed on some very relatable situations, and the overall objective was to convey the benefits of investing in the brand's tax saving fund, the Magnum Taxgain scheme. The TV ads showcased a series of situations centred around the phrase 'Cut Rahi Hai'.

SBI Mutual Fund currently carries the emotion-laden catch-phrase 'A Partner for Life'. Will the winning agency receive a brief to revamp this brand positioning? We'll find out as 2012 continues to unfold.