|With its latest upbeat, foot-tapping spots, American Express promotes world travel for the fun of it.
A recent analysis of spot TV sales by UBS Warburg found financial services advertising sales up 32% in the first quarter, the fastest growth rate among the top 10 TV ad categories. In February and March, new campaigns began from online brokers (Ameritrade Corp, E-Trade Financial, TD Waterhouse), credit cards (American Express), insurers (Amica Insurance), investment managers (Morgan Stanley, Putnam Investments) and even stock markets such as the New York Stock Exchange and trading systems such as Island ECN.
With Wall Street economists now pegging the Dow Jones Industrial Average to reach 12,300 to 12,400 this year, marketers seem to be out in force for the recovery. But most claim they are simply sticking to their business plans, although messages had to be recast for the recessionary, post-Enron, post-Sept. 11 consumer.
The new NYSE spots,
|Amica Insurance's new campaign makes a strong consumer pitch with a well-known actor.
"I think people [in financial services] are still struggling for a voice. People know you still need to be out there," said Fred Langbecker, chief strategy officer at MDC Communications' Margeotes Fertitta & Partners, New York. "Consumers want a reminder of the overall stability of companies."
American Express launched a new campaign tagged "Make life rewarding," from WPP Group's Ogilvy & Mather, New York, which brought back creative director Gordon Bowen, who created its succesful "Portraits" campaign in 1987.
'Tough couple of years'
"It's clear this has been a tough couple of years. ... There are a lot of investors out there who've never experienced a market like this," said
The company had just launched a campaign last September, focused on services such as retirement investment and college funds, which it pulled back and recast for post 9/11.
The new campaign, from Margeotes, acknowledges customers are tentative and focuses on Putnam's experience in volatile markets, Ms. Sharpless said. The print ads, which broke March 22, feature "The Market" portrayed as an old man, a child or a young boy, with comments such as "We've been in a relationship with it for 65 years."
Morgan Stanley broke a global TV, print and outdoor branding campaign during the March 24 Academy Awards telecast, its first brand effort from Bcom3 Group's Leo Burnett Worldwide, Chicago, since Morgan Stanley consolidated its account. TV spots are tagged "One client at a time."
Many retail investment customers feel they can't quite trust anyone with their money in this environment, said Steve Crane, president and creative officer of Cossette Post, New York, which handles the new campaigns for TD Waterhouse and Amica Insurance. As a result, advertising for brokers has taken a serious tone, he said.
TD Waterhouse switched from a celebrity-oriented campaign to more serious spots featuring former Law & Order actor Steven Hill as spokesman. In one recent spot, he displays TD Waterhouse's site as a source of accurate information, then adds "A crystal ball, it isn't. ... If you want a fortune teller, go to a circus."
'Money isn't funny'
Indeed, financial services advertising has adopted a new mantra: "Money isn't funny," Mr. Crane said.
But Cosette Post did try a bit of gentle humor in its Amica campaign, an effort featuring actor John Lithgow introducing "a place called Amica" where every transaction comes out right.