Ernst & Young re-examines new economy

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The words "new economy" don't resonate quite like they used to, but financial services company hopes the phrase will still hold some cachet with business executives.

In its campaign, which broke late last week on ESPN, touts itself as business advisers for the Internet age. Each of the three 30-second TV spots, created by ad agency D'Arcy Masius Benton & Bowles, New York, consist of a business-related vignette.

In one, advisers discuss filings for an initial public offering with a start-up's young founder, when his mother barges in to ask about valuation. Another shows former competitors seated in a restaurant reminiscing about their old rivalry as they warily discuss a possible merger. A third ad features a woman at her grandfather's gravestone, thinking aloud about changes in the business climate. Each commercial ends with a voice-over hawking the benefits of and ends with the company's signature tagline ", from thought to finish."


The campaign will also air on ABC, A&E, CNBC, The Discovery Channel and The History Channel. A companion print effort bearing the phrases "new rules" and "new economy" broke earlier this month. Although 's total media budget for the year is $50 million, the company refused to disclose what it's spending on this campaign.

The push is intended to increase awareness of among corporate executives, said spokesman Jim Speros. He maintained is not concerned about building a campaign around the concept of a "new economy" in the midst of recent financial downturns. "There definitely have been a lot of issues around dot-com meltdowns, but a lot of the new rules for the new economy still exist," Mr. Speros said.


is not alone among professional services firms in stepping up recent ad efforts. The "Big Five" accounting firms-KPMG International, PricewaterhouseCoopers, , Arthur Andersen and Deloitte & Touche-have all increased their marketing efforts, thanks to the healthy economy and the e-commerce boom.

Arthur Andersen announced last week that it will break a $175 million global campaign next year to promote its new name, Accenture. The campaign, from Y&R Advertising, New York, will feature TV ads, including four spots in the Super Bowl, as well as print, online, outdoor ads and sports sponsorships. The change follows an arbitrator's ruling last August in a dispute between Andersen Consulting, Arthur Andersen and Andersen Worldwide, which required Andersen Consulting to adopt a new name by Dec. 31.

Contributing: Mercedes Cardona.

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