Ashwini Gangal

SBI Mutual Fund scouts for creative agency

The pitch is part of a review process that takes place every three years.

afaqs! has learnt that State Bank of India (SBI) Mutual Fund is currently looking for a creative agency. The process that was initiated around a couple of weeks back is currently underway.

Apparently, the creative pitch is part of a regular review process that the company conducts every three years.

SBI Mutual Fund scouts for creative agency
SBI Mutual Fund currently carries the emotion-laden catch-phrase 'A Partner for Life'; it remains to be seen whether this brand positioning will be subject to change after the pitch process is concluded.

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), RK Swamy BBDO, Ogilvy India (SBI Life), Percept/H (Mutual Fund), JWT (Mutual Fund) and Span Communications, amongst several others.

Recall that in July this year, R K Swamy BBDO crafted an interesting advertising campaign for SBI that highlighted its mobile banking offering with vigour. 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, mobile, and direct-to-home recharge. The TVC 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 work that remains unfinished.

It may also be recalled that in February last year, Percept/H crafted a memorable ad campaign for SBI Mutual Fund that aimed at reaching out to prospective investors by conveying the message that investing in SBI Mutual Fund will save taxes, with the benefit of returns on investment.The campaign put forth 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 and harped on the phrase 'Cut RahiHai'.

Most recently, the media mandate for SBI has been handled by Allied Media, the media planning, evaluation and buying arm of Percept, prior to which the mandate was with Media Direction, the specialist media services wing of RK Swamy Media Group.