Last year, NYSE Euronext rolled out a brand campaign called “Powering the Exchanging World,” developed by Euro RSCG New York, to raise awareness of the global stock exchange and foster new business relationships.
In the following interview with CMO Close-Up, Ricciardi discusses how the economy has affected NYSE Euronext's marketing strategy, its new efforts and how global brands are using the NYSE as a marketing platform.
CMO Close-Up: What are your marketing objectives for NYSE Euronext?
Ricciardi: First is to continue to raise awareness of the global brand, specifically focused on our three key business segments of cash and equity listings, technology and derivatives. Second is to continue to differentiate our global brand and further define our role in driving choice and loyalty among our ever-increasing spectrum of customers. Third is to continue to attract new businesses and build partnerships with various businesses and customers. We are also looking to further align sales and marketing objectives internally.
CMO Close-Up: How are you marketing the brand?
Ricciardi: We launched a new global brand campaign last year with the positioning “NYSE Euronext is bringing together markets, people and technologies to help drive and power global businesses.” We are extending that campaign this year. We launched a new spot called “Global Leaders” in conjunction with some of our customers during the Vancouver Winter Olympics. The spot features the CEOs of Juniper Networks, Hyatt Hotels and AOL talking about innovation, opportunity and a sense of community. The ad was a partnership program in conjunction with some of our listed companies, and it discusses the notion of how the companies we list are all leaders in innovation. That was the TV component. We have other channels outside of TV, including digital, print and out-of-home.
CMO Close-Up: What are you doing online to market the brand?
Ricciardi: We launched a series of digital rich-media units communicating the depth and breadth of our services to different business segments. We have an ever-widening spectrum of customers and business lines to support and communicate to, and digital is an extremely effective way to reach these audiences, including traders, issuers, investment banks, trading and technology companies. It's very measurable and actionable, and we have seen tremendous success with digital programs. We are also launching a site focused on financial literacy and financial education, which is an innovative forum meant to empower working Americans with improved knowledge and capabilities.
CMO Close-Up: Are you using social media as part of your marketing strategy?
Ricciardi: We use social media through a number of corporate initiatives. It varies based on the audience. For some audiences that are less defined, we tweet from a number of large corporate accounts. We also do occupational targeting with LinkedIn and Facebook. We use social media for PR, and we have seen an increase in the number of followers and pickup in conversations when we coordinate social media with some of our events.
CMO Close-Up: How has the economy impacted your marketing efforts?
Ricciardi: The economy has impacted our strategy and marketing programs, similar to other global organizations. We have a more stringent focus on expenses, and we evaluate our communications channels more closely. We analyze those channels that are most effective and dial them up, versus programs that are less measurable, and we dial those down. Last year, we saw a decrease in IPOs, but now we're seeing an increase.
CMO Close-Up: How do companies that list on the NYSE use your platform to market their own brands?
Ricciardi: From the listed companies' perspective, they view our platform as a cost-effective way to continue with their programs. They look to our venue as an effective way to guarantee visibility. Even during the downturn, there was still very strong demand for bell reservations (having executives ring the bell that opens and closes the day's trading on the NYSE). We were booked months in advance, which is a testament to the popularity of the marketing venue.
The bell symbolizes more than the opening or closing of the market. It is symbolic of achievement and success, and it has a very significant appeal among our customers, as well as their customers. It is a strong part of our value proposition.
CMO Close-Up: In addition to ringing the bell, what are some other ways in which your customers use the NYSE to market their brands?
Ricciardi: Some companies turn to us to launch new products, such as Pepsi's “Refresh” campaign and Gap's new jeans. We outfitted the entire trading floor in Gap jeans. It really depends on the company's objectives. When Juniper Networks joined the exchange (in October), we hosted a technology event on the exchange floor for 350 of their customers and business partners. Other b-to-b companies leverage our platform to raise visibility. We host an annual CMO Summit with The Wall Street Journal and an annual Yale CEO Summit. This year, we launched our first Green Summit on Earth Day, featuring CMOs, sustainability and corporate responsibility leaders of various listed companies. It was a great way to encourage dialogue about corporate sustainability and also provided a branding opportunity among NYSE and listed companies.