Carat wins Muthoot’s media duties worth Rs 20 crore

Carat Media, part of the Aegis Group, has won the media duties for the Muthoot Group. Muthoot, a Kerala based company has interests in various fields such as banking and financial services, health care, hospitality and resorts, education, infrastructure and housing, foreign exchange, money transfer, insurance, media and power. The group, a first time advertiser, has planned an ad spend of around Rs 20 crore.

“We are delighted to be working with such a strong and reputable brand and this win is just a testimony to our building capabilities,” says PV Narayanamoorthy, managing director, Carat Media, India.

On the heavy use of radio, Jacob reasons that the medium has been utilised extensively in Delhi for a year and worked successfully there. Following that, it was also taken to Punjab and Kolkata.

The use of outdoor will be tactical. The Internet is not a medium the group has tried before, but it is giving it a try now.

This is the first time the Muthoot Group is looking at advertising on a national level. It appointed AB&M as its creative partner six months ago. Prior to this, when its activities were concentrated in Kerala, its communication was handled for a while by Mudra Kochi.

“Since we are advertising for the first time, all the communication has to be brought in together – that’s why the communication across all media will be utilised in tandem with each other,” says Jacob.

In its campaign, Jacob says, Muthoot is looking at meeting objectives such as awareness, credibility, attracting talent, catering to the confidence of investors and, most importantly, acceptance of its retailing gold services as a lifestyle product and diluting inhibitions about it.

The company recently put foot into the online trading arena with the establishment of Muthoot Securities. Within a day, it launched 61 branches of Muthoot Securities in Kerala. The Muthoot Group, a 121 year old organisation, has over 850 branches across 20 states of the country, at present.