Interrogating financial services advertising at AdForum
01 July 2016 - 18:16
byLynette Dicey
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A seminar focusing on financial services advertising at the recent Cannes Lions festival discussed the fact that work produced in the sector globally is overwhelmingly dull, clichéd and poorly informed. The most recent Financial Mail AdForum, hosted at Vega School of Brands in association with Ornico, put the claim to the test.
The panel was made up of Ornico’s Mongezi Mtati, I See A Different You’s Neo Mashigo, TBWA\Hunt\Lascaris’s Jenny Glover, and The Strategy Department’s Richard Prevost.
First on the chopping block was 1st for Women’s “I think it’s because of her” print ad, unanimously vetoed by the panel for lacking authenticity and personality. The ad, said Mtati, failed to differentiate itself from any other insurance ad in the market. “The brand’s messaging was better when it focused on the crazy stunts men did and why the brand chose to insure women,” added Prevost. It was awarded a red card by the audience.
Capitec’s “Hello Tygerburger” infographic got a mixed bag: though it answered a specific brief in terms of ATM distribution, argued Glover, it then confused the message by adding an additional element relating to mobile banking at the bottom of the ad. Overall, however, said Mtati, the ad would be effective for consumers who bank at Capitec. The audience agreed and gave it a green card.
The last of the print ads was Outsurance’s “Flip” campaign, which works in conjunction with the campaign’s TV ads. Mashigo argued that the headline and pricing were no reason to make any consumer flip and, in such a price-sensitive market, if agencies are going to focus on pricing, it needs to be done in the right way. The ad got a red card from the audience.
African Bank’s “I don’t just see customers at my bank” slot was found to be stereotypical and cheesy in its use of music. “The ad clumps blacks into one group and misses the point,” noted Mtati. It should have rather focused on the brand’s purpose, agreed Prevost. It was red carded by the audience.
Nedbank’s “home loan” radio ad also got the thumbs down – both from the panel and the audience. The voice-over was unrealistic, said Glover, and consumers pick up on what doesn’t sound normal. It also bombarded the listener with too much irrelevant information – the brand needed to focus on one vital message, said Mashigo, and that was the ability to secure a home loan in three minutes.
Despite the appearance of music legends Hugh Masekela and Yvonne Chaka Chaka, Assupol’s “family funeral plan” TV commercial failed to impress. It was unclear what the relevance of the ad was, said Mashigo, and it made two South African music legends look foolish and desperate. It was given a red card by the audience.
Coronation Fund Managers’ “If your money came easy” campaign was well produced, real and gritty, said Glover. “It addresses the need for South Africans to be saving, and makes it accessible,” Mtati said. However, said Prevost, elements of the ad felt overly American. Nevertheless, the audience gave it a green card.
Investec’s “Live out of the ordinary” ad featuring swimmer Cameron van der Burgh was well-produced and beautiful to watch – but, said Mashigo, actually said little about personal finances. “It uses dramatic metaphors that resonate with the brand positioning, but it contains no real facts,” agreed Prevost. The audience agreed and gave it a red card.
King Price’s “decreasing premiums” ad was given a red card for being too confusing and failing to focus on what was a compelling message: decreasing premiums. Consumers shouldn’t have to guess what message ads are trying to get across, said Glover, and the ad made viewers work too hard to understand the point it was making. Though there were some green cards from the audience, it was given a red card overall.
Rounding up the ads was PostBank’s “lobola” campaign. Though it was first flighted approximately two years ago, said Mashigo, it still resonates because of a good narrative and the way it takes a well-known concept – lobola – and flips it over to look at in a new way. “The ad speaks directly to the target audience and addresses the needs of the ‘unbanked’,” concluded Mtati. The audience gave it a green card.
Big take-out: Financial services advertising is widely regarded as dull, clichéd and poorly informed – the panel and audience at the Financial Mail AdForum agreed, with the majority of ads being awarded red cards.
Support our award-winning journalism. The Premium package (digital only) is R30 for the first month and thereafter you pay R129 p/m now ad-free for all subscribers.
Interrogating financial services advertising at AdForum
A seminar focusing on financial services advertising at the recent Cannes Lions festival discussed the fact that work produced in the sector globally is overwhelmingly dull, clichéd and poorly informed. The most recent Financial Mail AdForum, hosted at Vega School of Brands in association with Ornico, put the claim to the test.
The panel was made up of Ornico’s Mongezi Mtati, I See A Different You’s Neo Mashigo, TBWA\Hunt\Lascaris’s Jenny Glover, and The Strategy Department’s Richard Prevost.
First on the chopping block was 1st for Women’s “I think it’s because of her” print ad, unanimously vetoed by the panel for lacking authenticity and personality. The ad, said Mtati, failed to differentiate itself from any other insurance ad in the market. “The brand’s messaging was better when it focused on the crazy stunts men did and why the brand chose to insure women,” added Prevost. It was awarded a red card by the audience.
Capitec’s “Hello Tygerburger” infographic got a mixed bag: though it answered a specific brief in terms of ATM distribution, argued Glover, it then confused the message by adding an additional element relating to mobile banking at the bottom of the ad. Overall, however, said Mtati, the ad would be effective for consumers who bank at Capitec. The audience agreed and gave it a green card.
The last of the print ads was Outsurance’s “Flip” campaign, which works in conjunction with the campaign’s TV ads. Mashigo argued that the headline and pricing were no reason to make any consumer flip and, in such a price-sensitive market, if agencies are going to focus on pricing, it needs to be done in the right way. The ad got a red card from the audience.
African Bank’s “I don’t just see customers at my bank” slot was found to be stereotypical and cheesy in its use of music. “The ad clumps blacks into one group and misses the point,” noted Mtati. It should have rather focused on the brand’s purpose, agreed Prevost. It was red carded by the audience.
Nedbank’s “home loan” radio ad also got the thumbs down – both from the panel and the audience. The voice-over was unrealistic, said Glover, and consumers pick up on what doesn’t sound normal. It also bombarded the listener with too much irrelevant information – the brand needed to focus on one vital message, said Mashigo, and that was the ability to secure a home loan in three minutes.
Despite the appearance of music legends Hugh Masekela and Yvonne Chaka Chaka, Assupol’s “family funeral plan” TV commercial failed to impress. It was unclear what the relevance of the ad was, said Mashigo, and it made two South African music legends look foolish and desperate. It was given a red card by the audience.
Coronation Fund Managers’ “If your money came easy” campaign was well produced, real and gritty, said Glover. “It addresses the need for South Africans to be saving, and makes it accessible,” Mtati said. However, said Prevost, elements of the ad felt overly American. Nevertheless, the audience gave it a green card.
Investec’s “Live out of the ordinary” ad featuring swimmer Cameron van der Burgh was well-produced and beautiful to watch – but, said Mashigo, actually said little about personal finances. “It uses dramatic metaphors that resonate with the brand positioning, but it contains no real facts,” agreed Prevost. The audience agreed and gave it a red card.
King Price’s “decreasing premiums” ad was given a red card for being too confusing and failing to focus on what was a compelling message: decreasing premiums. Consumers shouldn’t have to guess what message ads are trying to get across, said Glover, and the ad made viewers work too hard to understand the point it was making. Though there were some green cards from the audience, it was given a red card overall.
Rounding up the ads was PostBank’s “lobola” campaign. Though it was first flighted approximately two years ago, said Mashigo, it still resonates because of a good narrative and the way it takes a well-known concept – lobola – and flips it over to look at in a new way. “The ad speaks directly to the target audience and addresses the needs of the ‘unbanked’,” concluded Mtati. The audience gave it a green card.
Big take-out: Financial services advertising is widely regarded as dull, clichéd and poorly informed – the panel and audience at the Financial Mail AdForum agreed, with the majority of ads being awarded red cards.
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