Banks Targeting Money-Conscious Consumers

SunTrust Banks Targets Money-Conscious Consumers

SunTrust Banks this weekend unveiled a new campaign with the tagline, "Live Solid. Bank Solid," which speaks to the state-of-mind of wary consumers affected by a slumping economy.

The effort, via lead agency Mullen, Winston-Salem, N.C., focuses on the idea that consumers are becoming smarter about their finances and looking for banks that offer "confidence, security and firm footing," per SunTrust.

TV spots broke during NBC's Sunday Night Football. Radio, print, and online ads also support. SunTrust, Atlanta, said it will continue advertising on prime time TV through 2009.

"We believe the new campaign will resonate with our clients and American consumers, especially in our current economic climate," said Rilla Delorier, SunTrust CMO. "The new SunTrust brand . . . provides the assurance that SunTrust is their financial partner as they build the foundation for their financial futures."

While timely given the recent meltdown on Wall Street, the bank claims its new campaign was underway months before and emerged following internal research that found the majority of consumers would rather spend "wisely" than spend "freely." The new tagline is meant to reflect those findings. SunTrust's old tagline was: "Seeing Beyond Money."

SunTrust spent $26 million on U.S. advertising last year (excluding online), per Nielsen Monitor-Plus, and $21 million through September of this year.

(Source: BrandWeek, 11/17/08)