Taking stock of financial services advertising was the focus of the Financial Mail AdForum, which took place at the Vega School in Johannesburg, in association with Ornico. The financial services advertising currently being flighted is very rational and fails to resonate, agreed the panel at the latest Financial Mail AdForum.
The financial services sector has shifted advertising focus from price sensitivity to paying attention to the human element. Nedbank’s TV commercial, which follows a bank note, Standard Bank’s ‘What’s your next’ and Capitec’s uses of its mobile app are just a few examples of messaging that tries to resonate on a human level.
The financial institutions in the media and brand intelligence research and insights include FNB, Nedbank, Standard Bank, ABSA, Capitec, Clientele, Assupol, King Price, Outsurance, First For Women, Coronation, Budget Insurance, Investec and others. Part of the debate by the panellists on the day was based on how uninspired some of the advertising in the financial services industry is, how focusing mostly on price leads to a lack of creativity in some of the work and as such causes the brands to be far too similar.
Arthur Goldstuck has been tracking internet technology since year zero. He shares current and future trends in technology from email, cellphones and beyond.