Suretrade.com, the new online brokerage service from Quick & Reilly, today launches a multimillion-dollar online ad campaign to push its low-price, flat-fee broker services.
The online advertising complements an offline push that started last week. The cable TV and print advertising aims to draw potential customers, while the online advertising offers more details about Suretrade.com and even allows the user to click through to the service itself.
CKS/SiteSpecific, New York, created the online advertising, and Wieden & Kennedy handled the offline work.
$30 MIL AD BUDGET GOAL
Suretrade.com would not disclose the launch budget for its first advertising, but it plans to ramp up annual spending to about $30 million in combined online and traditional ads.
"We're essentially pretty close to splitting the advertising budget for the fourth quarter about 50/50 between online and offline," said Peter Seed, a consultant to Suretrade.com.
Suretrade.com's initial $7.95 flat-fee trades for one to 5,000 shares have succeeded beyond expectations, Mr. Seed said, with about 500 new accounts opened only on the second day of operation. The online broker service debuted last week. Suretrade.com hopes to hit 100,000 new accounts in the next nine months.
Competitors in the online trading arena include E*Trade Group, DLJdirect, Charles Schwab & Co., Fidelity Investments and Datek Online.
Both campaigns focus on the use of the Suretrade.com name. In Wieden & Kennedy's TV commercials, the Internet address name stays on the screen for the full 30 seconds with a variety of backgrounds.
"We feel we can convey a lot of information by focusing on the logo," said Winton Sweum, management supervisor at the agency. "We've made Suretrade.com our hero in this."
APPEARING ON 50 SITES
The online campaign will appear on about 50 sites, a significant online buy, said Seth Goldstein, CKS/SiteSpecific president.
The print and TV campaigns serve to alert viewers and make them aware, while the online advertising taps more deeply into their interest.
"You see the commercial and then you go online and you see a sponsorship and then when you go to the Suretrade.com site, you're ready to sign up," Mr. Goldstein said. "You get the best of online with the best of offline, and that's rare."
The information gathered through the online campaign also will be used as feedback for the Suretrade.com service, as well as its advertising.
Copyright November 1997, Crain Communications Inc.