Brand: UTI Asset Management Co. Ltd’s (UTI AMC) UTI Mutual Fund
Campaign: Mumbai’s ‘dabbawallas’ as financial agents
Target audience: Professionals in Mumbai
Agency: In-house activity
What they did: In December, the company joined hands with 5,000 dabbawallas , men who deliver food to 500,000 people in Mumbai daily, to promote mutual fund scheme UTI Wealth Builder Fund. Dressed in T-shirts and caps embossed with the UTI mutual fund logo, the dabbawallas delivered an investment form along with the lunch box at the customer’s office. They were also trained to begin a conversation about the benefits of the product. The company repeated the activity in January for UTI Children Career Plan fund.
How they did it: “We came up with the idea to use dabbawallas primarily because of the value they bring to the table...they are well known for their excellent time management skills and customers have huge amounts of trust in them. This fits perfectly with what we were trying to communicate about our fund,” says Jaideep Bhattacharya, chief marketing officer, UTI AMC.
The company tied up with Nutan Mumbai Tiffin Box Suppliers Association, the organization behind the dabbawalla concept, for this. For the Children Career Plan fund, the dabbawallas also delivered the forms at the customer’s residence from where they picked up the lunch box. “So, here we have a product which was delivered successfully at the office and the home of the potential investor in a cost-effective yet non-diluted form,” says Bhattacharya.
The result: Although Bhattacharya did not disclose the number of leads generated, he says they were able to track the response from their call centres and Web portals.
“It was three times more successful than any other below-the-line (BTL) activity we have ever done, which is why we have repeated the effort and will probably use it again in the future,” he says.