E*TRADE Launches Provocative Brand Advertising Campaign Designed to Capture the New Spirit of Investors Who Are Taking Charge of Their Financial Lives
New Creative Campaign By Goodby, Silverstein Intended to Appeal toBroader Investor Market as Online Financial Services and E*TRADE Go Mainstream
April 12, 1999 08:25 AM
PALO ALTO, Calif., April 12 /PRNewswire/ -- It's not the kind of advertising you're likely to see from a traditional brokerage firm, but then E*TRADE Group Inc. EGRP is hardly your typical financial services company. With the kickoff of its new brand advertising, E*TRADE is going mainstream with the new voice of self-directed financial consumers.
Featuring the call-to-action tagline, "It's Time for E*TRADE, the number one place to invest online," E*TRADE's new campaign captures the spirit of investor self-reliance. Developed by the award-winning advertising agency -- Goodby, Silverstein & Partners -- the campaign is part of an integrated marketing program that uses a bold creative style backed by a wide media reach to appeal to the changing profile of millions of U.S. investors.
E*TRADE's new ad campaign recognizes a dramatic demographic change taking place in today's market as online investing shifts from a niche category to a major consumer lifestyle phenomenon. According to the research firm Gomez Advisors, there are now more than 7.5 million online investor accounts, and that number is expected to grow to 18 million by 2001.
"'It's Time for E*TRADE' represents the voice that resonates with the new online investor," noted Jerry Gramaglia, senior vice president of Sales and Marketing for E*TRADE. "It's a strong call to action in the age of self- reliance and personal empowerment that says -- it's time to take charge of your financial life."
Goodby's provocative creative takes a fresh approach that is engaging, contemporary and sometimes irreverent. The television ads present a variety of scenarios upon which wishful-thinking individuals pin their hopes for a better financial future -- such as winning the lottery, getting a big raise or reaping a sweepstakes windfall -- then propose that investing with E*TRADE is a better alternative.
One commercial is a spoof on lotteries, showing a fictitious super lottery television drawing. The commercial points out that "Someone's Going to Win the Lottery" and concludes with the statement, "Just Not You. Maybe It's Time for E*TRADE." Another ad shows a young professional being ignored by his boss while pleading for a raise, then proposes the more empowering solution, "Make Your Own Raise, It's Time for E*TRADE, the number one place to invest online."
The brand's new print and outdoor advertising continues the theme -- "Its Time for E*TRADE" -- while reinforcing E*TRADE's position in the fast growing online investing market. The print and outdoor advertising, which feature the www.etrade.com web address, presents provocative phrases such as, "The Same Part of Your Brain You Use for Sports Stats," and "The Sweepstakes Van Ain't Coming."
"There also is a strong undertone to this campaign that suggests informed investing by individuals is not a game or a matter of luck -- it's a commitment to acquiring knowledge and using the right research and analytical tools -- all readily available through E*TRADE," added Gramaglia.
The objective of E*TRADE's integrated marketing campaign is to drive consumers to Destination E*TRADE, where they can access a wide selection of financial services. E*TRADE has moved far beyond simple online brokerage services, providing a rich mix of new media content to help financial consumers become more savvy investors. E*TRADE's membership model, which enables non-customers to freely use much of the site's resources, has created a powerful proposition for winning new customers.
The popularity of Destination E*TRADE has contributed to E*TRADE's record growth over the past few quarters. E*TRADE's Internet audience exceeded the combined reach of the Charles Schwab & Co. and Ameritrade web sites in February 1999, according to Media Metrix(TM), which measures the Internet reach of major web sites.
The new campaign also has a wider media reach than E*TRADE's past advertising. In addition to continuing its significant television presence on financial news programs, the new ads will reach out to self-directed investors through programs such as the season finales of "ER" on NBC and "Ally McBeal" and "The X Files" on Fox. Along with television and print advertising, the campaign has a strong outdoor component in targeted markets, including New York, Los Angeles and San Francisco. Internet sponsorship also remains a major ingredient in E*TRADE's marketing mix.
"The new campaign is designed to capture the energy and positive attitude that's shared by the vast majority of E*TRADE customers," said Richard Silverstein, co-founder of Goodby, Silverstein & Partners. "The customers we spoke with described their experience with E*TRADE as a combination of satisfaction in assuming greater control over their financial lives and excitement in discovering and using a web site that gives them the tools and insights they need to be more effective investors. Our research confirms the new campaign conveys that spirit effectively."
The new campaign focuses more heavily on building the E*TRADE brand, with a direct hard-hitting call to action (visit www.etrade.com) that is a departure from E*TRADE's previous campaign and tagline, "Someday, We'll All Invest This Way."
"E*TRADE helped establish online investing. Now we're taking it to the next level," continued Gramaglia. "Our marketing focus is evolving from category evangelist to asserting E*TRADE's rightful position as the brand of choice."
About E*TRADE
A leading branded provider of online investing services, E*TRADE has established a popular destination web site for self-directed investors. The company offers independent investors the convenience and control of automated stock, options and mutual funds order placement at low commission rates. In addition, E*TRADE has a suite of value-added products and services that can be personalized, including portfolio tracking, real-time stock quotes, Smart Alerts, market commentary and analysis, news, investor community areas and other information services.
E*TRADE was the first securities and financial services company to be awarded the CPA WebTrust seal of assurance by the American Institute of Certified Public Accountants (AICPA). In the fourth quarter of 1998, the E*TRADE web site was named the No. 1 online investing site in a international survey of the industry's top 20 Internet brokerage firms by Lafferty Information and Research Group, a global provider of high-value and business information research. Investors can access E*TRADE at www.etrade.com on the Internet and through many other electronic channels and online services, including AOL (Keyword: E*TRADE) and via the TELE*MASTER interactive telephone system. E*TRADE Securities Inc. (Member NASD/SIPC), and its parent company, E*TRADE Group Inc., are headquartered in Palo Alto, Calif.
Important Notice
E*TRADE is a registered trademark of the Company. All other Trademarks are properties of their respective owners. The statements contained in this news release that are forward-looking are based on current expectations that are subject to a number of uncertainties and risks, and actual results may differ materially. The uncertainties and risks include, but are not limited to, changes in market activity, market acceptance of the new Destination E*TRADE web site, anticipated increases in the rate of new customer acquisition, the conversion of new visitors to the site to customers, seasonality, the development of new products and services, the enhancement of existing products and services, competitive pressures (including price competition), system failures, economic and political conditions, changes in consumer behavior and the introduction of competing products having technological and/or other advantages. Further information about these risks and uncertainties can be found in the information included in the annual report filed by the Company with the SEC on Form 10-K (including information under the caption "Risk Factors") and quarterly reports on Form 10-Q. Market size information contained in this release and provided by Gomez Advisors has not been independently verified by the Company.
E*TRADE Media Contacts: Cindy McCaffrey of E*TRADE Group, Inc., 650-842-2437, cmccaffrey@etrade.com; or Dave Murray of Neale-May & Partners for E*TRADE, 650-328-5555, ext. 114, dmurray@nealemay.com
SOURCE E*TRADE Group Inc.
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