Wednesday, 23 September 2009

What banks can learn from booze

Lots of financial services adverts look the same. It's really easy to take the easy route, lead on the headline rate and stick another picture of a piggy bank on the top. But advertising needs to stand out to work.

Utalkmarketing.com has a great case study from ENS Brann, looking at a campaign for Fosters. The alcohol industry has some similar issues to financial services - it's heavily regulated, a very mature, saturated market and the products aren't massively differentiated within each category.

Fosters did a highly targeted DM campaign that aimed to show solidarity with their target audience - and the research they did after the campaign proves that even without a direct  call to action, there was a big uplift in sales and share of market.

This is a great idea and definitely one we financial services marketers should look at spinning for our own brands. The better we can demonstrate that we are *like* our customers, the better reason they have to choose our products and seek out advice from us.

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