MAM
Banking sector spends Rs 20 bn on outdoor advertising
MUMBAI: The banking sector spends Rs 20 billion on outdoor advertising medium and it is more effective than television but less than print, according to ICICI Bank corporate brand group head Ronita Mitra.
Lack of measurability in the outdoor advertising medium, however, is one of the most contentious challenges the sector currently faces, Mitra said.
While speaking at the seventh edition of Outdoor Advertising Convention, Mitra said that hindrances such as changing traffic trends, delivery scale versus credibility and complexity with the spread of commercials hamper the scope of measurability.
Mitra underlined, “Having to send out teams to analyse the ads is another impediment.”
Talking about drawbacks, there are several high-points in this medium as well.
“We communicate with all the socio-economic groups and our target audience is male, aged between 25-55 years. The outdoor message delivers undiluted and localised messages, in terms of look and feel. Moreover, messages are clear and call to action or how to get in touch becomes simpler with this medium,” Mitra stated.
While public sector banks use this medium the most, multinational banks adapt a much focused geographic approach. “In most cases outdoor media is used to reinforce a multimedia campaign – in some cases, to create an impact on city or national scale; and in very few cases as a standalone medium,” Mitra revealed.
Talking about various forms of outdoor advertisement, Mitra cited the example of ICICI’s ‘khayaal aapka’ campaign, which she termed as thematic propositions, under which various new products were promoted.“‘khayaal aapka’ is the master brand, within which there can be various individual product brands such as privilege banking and home loans.” Mitra noted.
Mitra spoke about the ‘three creative’ the bank experimented with: bill transfer, fund transfer and book movie tickets. “We put up ads of bill payment and fund transfers on bus shelters, while booking movie tickets was promoted next to ticket counters at various cinema halls. And after analysing the pre- and post-activity results, we found that the awareness about the three features has gone up by 50 per cent.”
This activity not only created awareness but also reinforced an image of innovation for the bank, Mitra concluded.
MAM
India’s experience economy grows as live events market hits Rs 17,000 crore
EY-Parthenon and BookMyShow report finds 78 per cent Indians prefer experiences over products
MUMBAI: India’s live entertainment scene is no longer just about music, comedy or festivals. It is increasingly becoming a powerful stage for brands seeking deeper connections with consumers.
A new report titled Beyond Attention, Into Immersion by EY-Parthenon and BookMyShow suggests that India’s experience economy is entering a strong growth phase, driven by consumers who are choosing memorable moments over material purchases.
According to the study, the country’s live events ecosystem, which includes concerts, comedy tours, festivals and immersive exhibitions, is estimated to reach around Rs 17,000 crore in 2025. The growth reflects a broader cultural shift in how Indians spend their time and money.
The report finds that 78 per cent of Indian consumers now prefer spending on experiences rather than physical products. From attending concerts and festivals to participating in interactive brand installations, audiences are increasingly seeking engagement, community and shareable moments.
This change in consumer behaviour is particularly evident among younger audiences who want to participate rather than simply watch. Instead of passively consuming entertainment, many now look for experiences that allow them to interact, express themselves and connect with like minded communities.
For marketers, this shift has turned experiential marketing into a strategic priority rather than a promotional add on. Brands are moving away from interruption driven advertising and towards immersive formats that allow consumers to discover, test and emotionally connect with products.
The report suggests that experiential marketing now plays a role across the entire consumer journey. It can spark brand discovery, strengthen storytelling, encourage product trials and ultimately influence purchase decisions and loyalty.
The impact is already visible. Post event surveys conducted among 7,450 attendees at major events including Lollapalooza India and concerts by Ed Sheeran and Guns N’ Roses highlight the effectiveness of these experiences.
Around 59 per cent of attendees recalled brands they interacted with during the events, while 55 per cent said those interactions increased their likelihood of purchasing from the brand. A further 63 per cent reported that brand activations actually enhanced their event experience rather than distracting from it. Nearly 29 per cent also said the interaction improved their perception of the brand.
Brands are also changing the way they approach events. Instead of simply putting logos on stages or banners, companies are building experiences into the fabric of the event itself.
Financial services brands, for example, are offering early ticket access, exclusive lounges and curated event experiences for cardholders. Fashion and beauty companies are using festivals to showcase products through pop ups, interactive installations and social media friendly spaces that encourage visitors to share their experiences online.
The scope of experiential marketing now stretches far beyond live entertainment. Retailers are designing experiential stores where customers can explore products in lifelike environments. Entertainment platforms are extending popular intellectual properties into immersive exhibitions and fan events. Technology is also playing a growing role through augmented reality and virtual try on tools that blend digital discovery with physical interaction.
Cultural festivals remain one of the most powerful platforms for such engagement in India. Celebrations such as Navratri and Holi bring together large communities, emotional participation and heightened consumer spending. For brands, these moments offer an opportunity to become part of the celebration rather than simply advertise around it.
Despite the momentum, the report notes that some companies still hesitate to adopt experiential marketing at scale. Budget constraints, limited expertise and uncertainty around measuring return on investment remain common concerns.
However, the growing body of data around consumer engagement and brand impact is gradually addressing these challenges. More marketers are expected to allocate a larger share of their budgets to experiential formats over the coming years.
Taken together, the findings point to a clear trend. As consumers seek meaning, memories and moments worth sharing, live experiences are emerging as one of the most powerful ways for brands to stay relevant in a crowded media landscape.
