The largest country-owned insurance company has successfully bought station naming rights of Andheri Metro Station. The station will now be known as ‘LIC Andheri’, a first of its kind in Mumbai. LIC is the first insurance company to acquire branding rights in Mumbai. With this branding initiative, the company has taken a step further in branding. It has thus shown a world of opportunities to ad buyers for creating interactive ad campaigns.
How has acquiring naming rights in Andheri helped the brand?
LIC Andheri is a key station on the Line 1 section of Mumbai Metro. The station reportedly caters to approximately 20% of daily commuters availing Line 1. In addition, the station is also a junction station for passengers commuting through the Central, Western and Harbour Line of Mumbai Local train service. Consequently, the station is a vantage point for advertising to a significant number of people in the city.
By buying branding rights in the Andheri metro station, LIC has increased its brand visibility to at least a few lakhs commuters. Besides, acquiring naming rights for a station is much more effective in creating a niche for a brand than through metro advertising. Thus the insurance company has created a healthy industry buzz through an innovative advertising solution.
Apart from naming rights, LIC has been investing in metro wrap ads and digital screen branding across 12 metro stations. This will further consolidate their brand interaction with consumers. As Andheri is one of the most popular places in Mumbai, LIC’s brand recall value can spread throughout India. Thus, through naming rights and station branding, LIC has associated its name with one of the most iconic places in India. LIC has etched out a positive brand interaction technique by creating a distinct brand asset and a customized identity. So, by being a part of commuter’s daily lives, LIC has amped up its brand recognition in the city.