Chillin' out till it needs to be funded
FORTIS fakes it
November 11, 2008 · gurugupta.wordpress.com
Most financial services advertising is undifferentiated and irrelevant, with generic visuals and headlines/taglines like “A passion to Perform”, “Make it happen”, “You and Us” etc (HSBC’s campaign is a notable exception). It is rare to see communication highlighting specific products or bringing alive insightfully the overall proposition.
It seems that the communication in the category is an exercise in corporate ego massaging. Perhaps, inserts in leading news magazines like Fortune, Forbes, Time and management journals like HBR are trying to catch the attention of managers of the advertised company so that they can feel good about their own organization. The fact that marketing departments are clearly disconnected from the realities of the business, is evident from the following ad from FORTIS which appeared in the September 2008 issue of HBR.
I do believe inspite of the failure at Fortis, their campaign has hit the spot with the right targeting and the right mix of elements. why this is in an academic journal like HBR is probably a symptom of the disjointed parts of a marketing campaign and lack of clarity in designing the brief. I would even suggest the teams in this case did not have enough clarity on the way to find the right market segment definitions and the correct mix for each such segment. It is going to be a bigger challenge in markets like India, China and Brazil where the wealth and investments business is hot and teams need to be aligned with the global message but also operate locally with clarity in their marketing and sales efforts