| Overall,
the existing children’s plan has been contributing 7.2
per cent to ING’s premium revenues and 9 per cent to the
number of policies. With the CSEGP in place, ING director marketing
and communications Amit Gupta expects the revenues from this
segment to go up to 10 per cent and an additional 5 per cent
increase in the number of policies.
The
company has planned spends of about Rs 60 million over a six
week brand building on the above the line (ATL) media capsule.
“We generally have three to four such campaign capsules
annually, and our ATL spends are about Rs.250 million per
year,” said Gupta. “For the below the line (BTL)
activities we spend an equal amount annually”, he added
while speaking with Indiantelevision.com.
The
ATL brand building campaign includes a 360 degree approach
across all platforms - print, television, radio and outdoor.
BTL activities in the case of children’s segment include
approaching schools to build awareness among parents about
its insurance products and the need for insurance.
ING for has a two pronged strategy for the promotional campaign.
According to ING general manager – brand management Sapna
Desai, on national television the company proposes to go in
for a brand building strategy, with a few spots on advertising
its children’s segments. In the case of tier-II and tier-III
cities, the company plans to promote specific products by
way of local radio jingles.
“For
tier-II and tier-III, a product launch is a big thing and
we have planned product specific media campaigns there. In
the case of major cities, it is the brand that we want to
build,” said Desai.
“Gradually
over time, we will go in for product specific ads too, since
CSEGP is a an evergreen product, as are most of our other
products,” said ING general manager - product development
Rajeev Kanal.
The
creative agency for ING Life is Rediff. While it has a number
of local and regional media buying agencies, bulk of the media
buying on a national level is done by Starcom for ING Life,
according to company sources.
|
ING
already has a conventional children’s plan, one among
the 13 other conventional plans, and eight ULIPs’ including
the CSEGP. The plan calls for payouts to take care of part
of the educational expenses of a growing child at various
stages. ING plans to target parents with young children.