Dustin Cohn, head of Brand Marketing for the Consumer and Investment Management Division, writes about Marcus’ 2020 ad campaign.
If you’ve watched our past ad campaigns, then the creative that we debuted today should strike a familiar tone. One that mixes facts with humor to underscore what we think is a huge missed savings opportunity for Americans.
The fact that we grounded this campaign in: 60% of Americans we surveyed don’t know the APY on their savings account1.
Here’s the thing: we know that our target audience is financially savvy. They invest in their future. They save. They are proactive about managing debt. But, because no one is perfect, they might have a blind spot when it comes to their savings. They could be missing out on an opportunity to earn more interest with a Marcus Online Savings Account in a month than in one year with the largest banks2.
There’s nothing funny about that.
So we decided to introduce a new character to our ads. Think of him as the embodiment of our brand. Throughout our new campaign you’ll see him focused on helping people see their blind spots.
He’s meant to evoke confidence and intelligence. To positively reflect our relationship to Goldman Sachs and its 150 years of financial expertise. But in our ads (we’ll be launching more in the future), our new character is also sophisticated and approachable – never judgmental. We’re excited for you to see him appear in other channels throughout the customer experience.
We’ve always believed strongly in starting a conversation with consumers to help improve their financial wellness. We speak to them live on the phone. We talk with them through social, content and our app. This new ad campaign is a chance to entertain our audience while demonstrating the value of our high-yield savings account versus the largest banks.
And we believe the humor will help us break through the noise in financial services advertising, which is still rife with undifferentiated messaging. We think it’s an effective way to talk about finances, which is still an uncomfortable topic for many. We hope you enjoy our latest work.
1Survey Methodology: Financial Literacy Survey was conducted by Marcus by Goldman Sachs® in March 2018 among 1,053 Americans who keep money in a savings account with their bank.
2Comparison (1) assumes a minimum balance of $30 and (2) is based on the Annual Percentage Yield (APY) of a Marcus by Goldman Sachs Online Savings Account and the APYs of consumer savings accounts offered by the 3 largest U.S. commercial banks and savings institutions, measured by total domestic deposits, as reported by the FDIC on 6/30/2019. Rates may vary by state. Banks in certain states may offer you a higher APY on your savings account if you have additional products and maintain certain balance requirements with that bank. Calculation does not account for bonus, special or promotional APYs and assumes all funds remain on deposit with no additional deposits. All rates as of 2/4/2020 and may change at any time. Rates obtained by Informa Business Intelligence, Inc. from public site information and its accuracy cannot be guaranteed. Goldman Sachs Bank USA. Member FDIC.
This article is for informational purposes only and is not a substitute for individualized professional advice. Articles on this site were commissioned and approved by Marcus by Goldman Sachs®, but may not reflect the institutional opinions of The Goldman Sachs Group, Inc., Goldman Sachs Bank USA or any of their affiliates, subsidiaries or divisions.