IDBI Bank has floated request for proposals (RFPs) to appoint media and creative agencies.
The tenure of the contract with the media agencies so appointed in each category will run till March 31, 2016 under the current RFP. However, this will be subject to satisfactory performance of each agency during the period ended March 31, 2015, which will be solely adjudged by IDBI Bank. In case the performance of any agency/agencies is/are deemed unsatisfactory, their contract will be terminated as per the provisions of the 'termination of contract' clause mentioned in the RFP.
For creative, IDBI Bank is looking for creative agencies to provide creative services for brands, products and other communications in addition to consultation on marketing strategy for domestic focused campaigns. The agencies should have experience in developing creatives for multiple media vehicles including, TV, radio, print, digital, mobile, out-of-home (outdoors) and others. IDBI Bank is looking for two categories of creative agencies. The first (Creative Agency 1) category will take care of creative services for brand IDBI Bank and its flagship product communications, along with creatives and strategies for some of the focused marketing campaigns and other communications.
The second (Creative Agency 2) category will provide services for some select product ads, statutory/notice ads, as decided by the bank, below the line (BTL) activities/creatives/communications like posters, banners, fliers and other associated activities/ services.
An agency (creative) can apply for only one category. Pricing for each of these two categories of agencies will be arrived at through separate financial bids using reverse online auction (ROA) mechanism, the company clarifies.
The creative agency of record for IDBI Bank is Ogilvy & Mather.
For the record, the Industrial Development Bank of India (IDBI) was established in 1964 with the aim to provide credit and other facilities for the development of Indian industry. In 1994, IDBI Bank was established as a subsidiary of IDBI. This was its foray into commercial banking.
The bank had an aggregate balance sheet size of Rs 3,22,769 crore and total business of Rs 4,23,423 crore as on March 31, 2013. IDBI Bank's operations during the financial year ended March 31, 2013 resulted in a net profit of Rs 1882 crore.