Feb 09
15
An unexpected by-product of the current financial crisis has been the rate of advertising by banks, investment firms and other financial institutions. This media buying push is designed to reassure anxious investors, business partners and customers during these troubled times.
Financial publications report an advertising increase. Perhaps a big advertising push may actually seem to be the opposite of what these financial institutions should be doing in light of the recent bank bailouts and public perception of their tactics and actions.
But nevertheless, financial institutions are running ad campaigns in various business publications such as The Financial Times, Forbes, The Wall Street Journal and many financial trade publications.
Bruce Rogers, VP of Marketing at Forbes.com explains it this way, “The bigger players who are remaining have a really complicated story to tell and need to get out there in a big way.”
Increasing consumer confidence. Forbes.com says it has seen an increase in advertising in the past few weeks from the big players like Bank of America who recently announced plans to take over Merrill Lynch and Citigroup.
Rogers adds this: “The companies remaining will have to be out there with a story that says, ‘We are a safe and stable financial institution.’” This is, in fact, the message being communicated by many of the financial institutions still standing.
