Monday, September 29, 2008

A theory...

(please note the sarcasm before complaining)

The credit crunch, its a horrible state of affairs.With banks and financial institutions that couldn't give a shit about their customers or the government a year ago now out begging hand in cap for the sake of their customers.

Frankly I think the whole thing has been coming for years, and is really a response from nature to those who make shit ads.

Evidence:

Halifax - Shit ads, need rescuing
HSBC - Decent ads, merely job losses
Bradford and Bingley - Rubbish ads - bank rescue
Nationwide - Decent ads - buying out two failing competitors

Even outside banking, MFi has had to be rescued. A payback surely for years of rubbish ads that change every month. PC World are also on hard times.

Watch out for DFS going under...

7 comments:

David Mortimer said...

Rather than moaning about the bad adverts that have gone punished, I think we should look forward to a new age of great advertising!

Howard Brown is free from the shackles of singing about mortgages, and can focus on his real muse... various retail products.

Who gives you leather?
Who? Who?
DFS!

The Oxymorons said...

Interesting theory. Like David said, 2009 the year of the great advertising. Then again, we are always going to have the catchy crappy ads.

DM

Rob @ Cynic said...

HSBC? Decent ads? Oh dear, oh dear, oh dear ...

I know your agency does them, but compared to LOWES original work, they are a sub-prime mortgage disaster.

Putting that aside, your theory - sarcasm or not - holds some water and there were even some studies done by a couple of organisations [can't remember who] that proved it had an influence on share price, though that didn't work for ITV Digital so it shows how flawed research is, isn't it!

Hope you're good.

R

Phil Thompson said...

The bad ads are an indication of an organisation with poor decision making skills - pouring their marketing budget down the drain.

It can't be coincidence that some high profiles sponsors of football teams, XL, Northern Rock and AIG have all gone to the wall. If they're wasting money on god-awful ads and football shirt sponsoring - what else are they wasting cash on?

toetapper said...

Too right.

Ads that promise £100 to switch or a higher interest rate by an incredible amount all to cheesy ditty or warm, intelligent and intelligent use of music and animation to keep me re-assured. I know where my money goes.

As for sofas, dfs ain't that bad...unlike the competitors, they are consistent and you can bet that the competition will struggle to deliver anything in time for Christmas this year.

Rob Mortimer said...

RobC: HSBC aren't that bad, having seen some of the global work there is some good stuff there even if it is patchy.

Phil: Good theory on football sponsorship

Toetapper: Yup.
Except... DFS consistant? They may always say SALE! but they always change how they say it, there is certainly no creative consistency besides showing a sofa with a model. Though admittedly, they try harder than SCS with that annoying bloke from Spandau Ballet.

Rob @ Cynic said...

Having OK ads for the bank industry is very different to having OK ads :)

All I'm saying is that compared to the original LOWES work/idea, my personal view is the beauty of the thought has been massacred and all the subtlety has gone but then that's what all banks deserve at the moment so maybe I should be thanking JWT. :)