Warc, 9 June 2014
NEW YORK: E*TRADE, the online broker, is seeking to “wipe
the slate clean” from a marketing strategy perspective, a move forming part of
a wider shift away from its iconic campaign starring a talking baby.
Rich Muhlstock, E*TRADE's svp/branding and acquisition,
discussed the organisation's developing approach at the Mobile Media Upfront
2014, an event held during Internet Week 2014 in New York.
“We'd like to wipe the slate clean from the past, and we've
started to do that this year,” he said. (For more, including details of
E*TRADE's new Type E* campaign, read Warc's exclusive report: Bye bye baby: Why
E*TRADE is moving on from an iconic campaign.)
“This year, as an example, is the first year E*TRADE spends
more on digital channels – mobile included in that – than we do across any
other channel … and really, in 2015, it will be a complete clean slate.”
Having retired the talking baby after six years, its latest
campaign is based around the satisfaction experienced by individuals who take
control of their investments, and features the actor Kevin Spacey.
Behind the evolution in its positioning rests an equally
profound transition in strategic thinking, as Muhlstock revealed to the
conference audience.
“In the first quarter, we planned very differently than we
have in the past: it was less television, much more digital; it was the first
time we really as a company got into mobile in a more significant way.”
Making greater use of new media, rather than strictly
adhering to the idea of TV as the lead medium, reflects core truths about the
primary target audience for E*TRADE's service, he explained.
“We're an online broker, so we know that if you don't use
the web, and you don't surf the web, and you don't use your mobile phone,
chances are you're not right for us,” Muhlstock said.
“We'll take you, and we still have branches where people can
walk in, but it's not our focus. Our focus is really on that online investor.”
Looking ahead, E*TRADE is also setting aside funds to
experiment, identify which tactics work best, optimise its approach and amplify
the most effective techniques.
“A good percentage of our budget is all test and learn. So we
will go out and experiment, and try a lot of smaller programmes to see what
sticks,” said Muhlstock.
Data sourced from Warc
No comments:
Post a Comment