Google Analytics for Financial Service Marketers

For many financial services marketers, Google Analytics is ‘somewhere’ on the list of things to get across, and probably close to the bottom. But if you’re keen on getting the most out of your website, or understanding where it’s letting you down, we think getting to grips with Google Analytics should be closer to the top of your list.

In fact, here at The Pure Agency, we’re on a mission to get more financial services marketers comfortable and familiar with Google Analytics. We know that there’s a lot of hesitation, and part of that relates to the apparent scale of the task.

One of the biggest challenges we’ve seen for financial services marketers when it comes to Google Analytics is that people feel like they’re looking at a big scary hill of data, and don’t know how to start climbing. Beyond the standard user data on the home screen, things do look a little complex. There’s a lot of stuff in there.

So where to start?

A little strangely, perhaps, we think the place to start is with questions. Data exists to provide answers; but you can’t get an answer before you ask.

Recognising this, Google has built a framework into their platform to help users navigate the data. This is known as the ABCs: Audience, Acquisition, Behaviour and Conversion.

Audience: Who & where are they? What are their interests? What devices do they use?

Acquisition: From where do they come? What brings them?

Behaviour: What do they read and do on your site? What parts of your site fail to impress?

Conversion: How many users take a desired action on the site? What characterises these people?

Grouping functionality in this way, with an overview for each section, makes Google Analytics quite browse-able and less intimidating. Framing your questions in the context of the GA ABCs will help you gain a sense of purpose when you log in, giving you the confidence to sort through the different sections, framing questions and looking for answers.

So why not dip a toe in? Here are eleven reasons you’ll be glad you did:

1. Google Analytics data can verify or disprove assumptions about your target audience, helping you to flesh out your personas.

Everyone loves a good marketing persona, right? And you get extra points for a good stock shot. But they’re not much good to your marketing efforts if they’re utter works of fiction. Google Analytics allows financial services marketers to go beyond ‘location, gender, age’ with data on Affinity Categories and In-market Segments.

This is data that Google collects about your site visitors while they’re browsing sites other than yours, and it tells you a lot about what they’re interested in, and what they’re currently looking/shopping for. It’s invaluable information that will help you refine your campaign targeting. You can also tell what software and devices they’re using to visit your site, which can help you make decisions about the user experience you provide for certain groups.

Navigate to Audience > Interests > Affinity Categories or Audience > Interests > Segments to learn about these areas.**

Navigate to Audience > Technology or Audience > Mobile to learn about software and devices.

2. Google Analytics can tell you exactly where your site visitors are coming from, and what part of your site they arrived in.

People make a lot of assumptions about where their website traffic is coming from, and they sometimes rely on data from external sources. Google Analytics can break down where web traffic comes from during any given period, right up until the day prior for the eight key channels (organic search, direct traffic, social, display ads, paid search, referring websites and email). With a little bit of linking set-up for some of the channels, it can break this down even further (i.e. In the case of email, exactly which email, and exactly which link in that email can be tracked).

Navigate to Acquisition > All Traffic > Channels or Audience > Interests > Source/Medium

3. Google Analytics can be used to track and measure many different actions on your website, and assign them a monetary value.

In Google Analytics, the main way of tracking important actions is through users completing ‘Goals’ which you have defined. This could be opening an account, filling and submitting an enquiry form, or downloading an eBook, for example.

For the most part, goals are quite simple to set up, and can be done in your site’s admin area (access this at bottom left of screen – goals appear in the third column along). Some goals might need to be set up within Google Tag Manager (for instance if you’re tracking conversions that relate to a digital display campaign with a publisher other than Google, you will need to implement tracking tags on your site. This can get complicated, so getting help from your IT department, webmaster or friendly advertising agency is advisable.

Every goal can be assigned a dollar value within Google Analytics, which makes calculating its contribution to the bottom line more straightforward. Choosing a dollar amount is something that can be based on known numbers.

For instance, if you know that each new personal loan customer makes your organisation $2,000 over the life of a loan, but only 5% of website enquiries convert to a new lending customer, then your dollar value for a new enquiry could be set at 5% of $2,000, which is $100. This can be a useful way of assessing the benefit of an action with no immediately obvious monetary value.

Google Analytics can also be used to track ‘Events’ on your website. An event can be any user interaction, from a video play or expanding a section, through to a user scrolling to a certain point on a page. Events can be useful in determining what needs to happen within your website to make a conversion more likely.

For instance, if you end up proving that only 15% of people download an eBook, but 100% of the people who download the eBook sign up for a financial advice session, then you know that you need to focus on getting visitors to your website to download the eBook. This means you might move the CTA and the button to a more prominent place, and/or feature it on more pages within the website.

4. Google analytics can tell financial services marketers which channels deliver on KPIs.

Once you have your goals set up, you can then see the sources of the website traffic, right down to an individual email link, Facebook post, or ad placement, that lead to a goal being completed. The latter is important for financial services marketers when you’re having discussions with your media agency. More about this later.

Navigate to Conversions > Goals > Overview and select the goal name from the drop-down menu.

5. Google Analytics can tell you how engaged your site users are, using criteria beyond bounce rate.

Lots of people focus on bounce rate as a key metric for engagement, but there’s so much more to it than that. For instance, you might think that an 89% bounce rate is terrible, but what if people spent an average of three plus minutes on that page? And what if that page was most frequently visited by repeat users to your site? This tells you that page is, in fact, a valuable one. It might prompt you to see what you can do to that page to encourage users to visit other pages as well, or to make an enquiry or sign up for something.

In addition to the example above, Google Analytics can tell you top landing pages, top exit pages, where new visitors spend the most time, how recently and frequently repeat visitors return to the site, how many times a user came to your website before they completed a goal, and what path people take to get from one section of your site to another. This is all valuable data that helps you make decisions about your site, and your customer journey.

Navigate to Behaviour > Site Content > Landing Pages (or Exit Pages) to see where people arrived and left.**

Navigate to Audience > Overview and change add the segment ‘New Users’ at the top to see how much time a new user spends on your site vs a returning user. You can keep this segment switched on when you’re looking at your content drill down to see how user new vs repeat users differ.

Navigate to Audience > Behaviour > Frequency & Recency to see this data on repeat visitors to your site.

Navigate to Conversions > Multi-channel Funnels to see the time elapsed in days between first visit and goal conversion.

Navigate to Conversions > Multi-Channel Funnels > Top Conversion Paths to see how many visits occurred (and to what pages) before a conversion occurred.

Navigate to Behaviour > Behaviour Flow to see how people travelled through your site, and where they dropped off.

6. Google Analytics data can show you where your website fails you.

Wondering why you get a load of people coming to your site, but only a handful of them become leads or customers? By looking at the behaviour flow data mentioned earlier and implementing funnels (i.e. constructing within Google Analytics the series of steps you know someone must take within your site to complete a goal), you can tell exactly how many people you’re losing at each stage of their journey through your website. After your momentary panic, you can then work out what you need to do to fix it.

Depending on what your goal is, there are a few different types of funnels in Google Analytics – you just need to choose the one that suits your scenario best, and set it up.

Navigate to Conversions > Goals > Reverse Goal Path to see what people are currently doing in the lead up to completing a goal. This information can tell you how you set your funnels up. It can also help you identify undesirable paths that are commonly being taken, so that you can fix them.

To set up a funnel, you must first have a goal set up:

Navigate to Admin > Goals (third column) > +New Goal (red button), then choose the goal you want to set up from the range of ‘templates’, or you can create a ‘custom’ goal. Ensure that when you get to the ‘goal details’ area, you turn on the ‘Funnel’ switch. You then name each step of the funnel and add a URL for that step. You can also specify whether a step is optional (flexible) or required (strict).

Once you’re finished all the steps, you have a functioning goal and funnel.

7. Google Analytics can tell you what content has helped people find you, and what content generates conversions.

As a financial services marketer, you know that content for your website takes a huge amount of time and energy to produce. If you don’t write it in-house, it can also cost a lot of money. Great content can keep people coming to your website long after its written, which has many benefits beyond just eyeballs on your website. But how do you know what content brings people, how they find it, and whether that traffic results in leads or sales? Google Analytics can answer these questions and more.

Navigate to Behaviour > Site Content > Landing Pages to see what pages people are landing on. In this area, you can also see which goal conversions resulted from those visits.

Within this same area, select ‘Source/Medium’ as a secondary dimension to see where the user came from.

8. Google Analytics allows you to directly compare your website’s performance between one period and another, in a graphical way.

Many marketers only bother with current user data, but comparing current data to past periods can yield valuable insights. The way to do this is by using the Compare to Previous Period tool in the date range dialog box.

You may be surprised to learn that your previously male-dominated audience has evened up, or that more users are located interstate or overseas than ever before, which could change many assumptions and decisions. You may also see patterns emerge across months or years.

Navigate to the top right corner to change your date range, and the ‘compare to’ checkbox.

9. Google Analytics data can be used to verify media and publisher reports. It can also prove what media dollars lead to conversions (not just site visits), and what a single conversion cost you.

Without your own data, you’ve got to believe someone else’s. Sometimes, and mostly for technical reasons rather than nefarious ones, external data isn’t accurate. Google Analytics data can quickly and easily verify the data that’s in reports generated by other parties, for instance click data.

It can also tell you what mediums and ads lead to goal conversions. Sometimes, the shine comes off a report that boasts huge click through rates (CTRs) when you realise that 0.001% of them converted, and it possibly means that campaign you thought was going so well is bringing all the wrong people to your site, or that the user experience on the page they’re landing on isn’t quite right.

Navigate to Conversions > Goals > Overview and select the goal name from the drop-down menu to see what traffic is contributing.

Navigate to Conversions > Multi-channel funnels > Top Conversion Paths to see how people are completing goals.

Navigate to Behaviour > Behaviour Flow and switch the drop down to ‘Source/Medium’ to see where people from different channels are dropping out of your site.

10. Google Analytics can be used to flag trouble, or capitalise on an extreme event.

By setting up ‘Intelligence Events’ you can ensure that you’re alerted to unusual activity on your website. In some cases, this can avert disaster, or create opportunity. For example, if you have a sudden drop in traffic, it may be that your website has been hacked and rendered inaccessible. If you have a spike in your bounce rate, and it coincided with the launch of a new campaign, you might need to reconsider your message, your audience or your user experience.

Get a feel for what is normal, and then set up some alerts based on changes to traffic, changes to bounce rate and drops to goal conversions, to begin with.

Navigate to Customisation > Custom alerts > Manage Custom Alerts > + New Alerts to set up alerts, which will result in an email if they’re triggered.

11. With a little set-up, Google Analytics can generate customised reports and dashboards to summarise data that would normally take hours to collate.

What some financial services marketers find frustrating when they first start with Google analytics, is the repeated steps you need to take to get to the same information, week in, week out. What many don’t realise is that you can create customised reports, which compile your go-to stats for a data range of your choice, in just one or two clicks. You can also set up dashboards, giving you at a glance metrics on your most important data points.

Setting up the reports will take an initial time investment, and a bit of trial and error, so it’s our recommendation that you experiment with this after you’ve been using Google Analytics for a little while, so that you’re familiar with the way Google Analytics works, and some of the language that’s used. After you’ve tackled reports and dashboards, you might also want to investigate Google Data Studio **

Navigate to Customisation > Dashboards or Customisation > Reports, to have a mess around.

It’s time to dust off that login, and remember your password.

If you’ve read down to the end of this post, we hope it’s resulted in you feeling more confident about what Google Analytics can tell you, and about how to extract the answers. We encourage you to get in there and try things out. We’re just a phone call away if you need some advice, or some help setting up some of the more complex things.

It’s award time and we’re ready to iso-party

We’re thrilled to have been nominated as finalists in the 2020 MAX Marketing, Advertising & Sales Excellence Awards for Creative Agency of the Year.

Due to current red carpet restrictions, this year’s award ceremony will be a virtual one hosted by TV personality, comedian and author Jean Kittson on 11 June. While the celebrations may be a little different, there’s still lots to get excited about, and we’ll be donning our best ugg boots so we’re ready to toast the winners.

We’ve been a proud recipient of many MAX awards over the years, including Digital Campaign of the Year and Website of the Year in 2019, and Creative Agency of the Year 2018.

If you’d like to help us add to our award stash, we’d be really grateful, so please vote for us here.

The Pure Agency Covid-19 marketing update

To help you navigate the uncertainty of the COVID-19 pandemic and its impact on financial businesses here in Australia, we've researched and created an update of what’s been happening in financial markets, what other brands are doing and strategies you may want to consider during this time.

Financial market summary

The number of COVID-19 cases globally is now approaching 1 million and increasing exponentially. It is a frightening time for all as we head into a global recession, not knowing what is going to happen or what long-lasting damage it will leave behind. The financial markets have fallen at an extremely fast rate, leaving investors feeling shocked and anxious. Many have been refinancing their loans, trying to get more credit or switching their investment types. As a result, call centres have been inundated, customers have to wait hours before being able to speak to someone and technology is buckling under the pressure – sparking further anxiety.

Businesses are just as anxious, with many trying to make sure they have cash on hand or can access more credit to make it through the next few months. Many employees have been laid off and leave without pay is on the increase so companies can stay afloat during this time.

The demand for liquidity is strong, and cash is certainly king in this environment. In an effort to avoid a repeat of the global financial crisis, central banks are throwing everything they’ve got at this, flooding credit markets with liquidity to ensure they continue to function and companies have access to funding. In addition, the RBA cash rate has been dropped to 0.25%, providing some comfort and strong forward guidance, but this is not without ramifications.

Working to calm investor sentiment

Investors’ fear of losing money could be extremely detrimental in the long term, as many will be tempted to switch between investments, leading to even more losses. The effect of market volatility on superannuation means retirees are very concerned about their future and how much more money they are going to lose. Therefore, communication is key during this time. Financial organisations need to present the facts based on what we currently know – even when this includes elements of uncertainty – so clients can make educated decisions about their investments at every step. In short, the most important message is that investors should not be doing too much before we have a better understanding of the situation and its impact on investments in the long term. And admitting that there are still so many unknowns, as this is not something we have experienced before.

A review of financial organisations’ responses

Looking at responses to the pandemic shows there is a small group of superannuation, investment management and financial planning providers who are at the forefront of communicating to their clients in a timely, understanding and informative way. These responses highlight the importance of communicating with clients as soon as possible to show you understand their concern, are checking in to see if they’re OK and seeing what you can to help them during this time. Financial services providers can help customers understand that they shouldn’t make any rash decisions, as none of us knows what the financial impact of COVID-19 will be. So it’s prudent to wait until we understand the situation more fully and can make more informed decisions.

While we may not have all the answers, it is clear that many companies across the financial sector are way behind in communicating meaningfully with their members. They may have addressed the issue in a piecemeal fashion – for example on their homepage – but have had no direct correspondence with their base, which can understandably make investors feel frustrated.

At times like this, it is imperative to communicate in a whole new way. The social and economic impacts of COVID-19 mean people are taking it very personally. It’s a very different situation to the GFC, when Australia was in a good financial position and unemployment was not greatly affected. Whereas the impacts of the current pandemic will last a very long time and recovery will be slow. Many jobs will be lost, many businesses will close, property prices will drop and a large percentage will be wiped off super fund balances.

For the younger generation up to the baby boomers, we have never experienced anything like this in our lives. We don’t know what’s going to happen – and the thing is nobody does – as this an unprecedented event in modern times.

That’s why this is the perfect time to put customer interest first – to show understanding, compassion and leadership, and engage meaningfully with your customers. Companies that care about building a better relationship with customers and keeping them informed will make a difference to their lives during this time. And these brands will come off very favourably.

An issue I’m very concerned about is people dipping into their super fund based on the government plans to allow people to withdraw their money, which could have a significant impact on their long-term security.

I am surprised that many super funds have not said more or taken a position on this, especially when the average super balance is under 50K. More leadership is definitely needed in this industry. Super funds have been charged with looking after large sums of money and many people could lose a considerable proportion of their lifetime savings.

Marketing recommendations for financial services providers

As uncertainty escalates and even governments struggle with their strategies, this is your brand’s chance to show compassion and understanding during a very difficult time. Honesty and integrity is key – it is OK to admit you don’t know the answers and that losses have occurred, but make sure you show flexibility, adaptability and an understanding of your customers’ concerns. This is a time to position your thought leadership as a business – whether it’s via your CEO, key investment manager or other expert opinions. It’s essential that the leaders of your organisation are visible.

Rather than a one-off announcement of your how your business will be operating from now on, ongoing engagement is essential. You need to keep investors, borrowers, members, partners and other stakeholders engaged and informed of the relevant facts. An effective way to do this is by developing a content plan to engage customers across a variety of channels, mixing written content such as eDMs, DM and online content with things like videos and webinars.

We need to show that we are all in this together.

Advertising by major brands

In the past few weeks, many brands have shelved campaigns if the content would seem insensitive or inappropriate for the current times. While the business losses this could cause may not compare to the personal risks individuals are facing, it’s still not ideal. But with so much uncertainty, brands are questioning whether they should even advertise at all. And if so, what should they advertise and what should they avoid? Do consumers want them to address the coronavirus? Do brands have a role in the fight to flatten the curve?

Let’s look at some big brands around the world.

Guinness

In one of the first coronavirus-related ads to be aired, the Guinness St Patrick’s Day ad promotes unity, resilience and the strength of the human spirit while highlighting the company’s initiative to give back to the community. The ad acknowledged the unusual circumstances surrounding this year’s St. Patrick’s Day (while never actually mentioning coronavirus), and encouraged people to raise each other up.

Research conducted by Ace Metrix, which is among the first to explore consumers' emotional reactions to coronavirus-related ads, showed the ad scored very positively for likeability, relatability and information delivered. Seven out of every ten beer drinkers surveyed showed increased intent to purchase and many said it was their favourite beer ad of all time.

The research shows that brands can make a connection with messages that are understanding and supportive. According to survey responses, 75% of consumers also said brands should step up and help out during the pandemic. It also found that ads addressing the situation should demonstrate actions, not just words, and that good storytelling worked wonders. Some brands have already pivoted their strategies to show more empathy with their customers and communicate their concern about the situation, while others are trying to figure out if and how to advertise at a time when the country has come to a standstill and people are going into isolation.

Hyundai and Toyota

Hyundai and Toyota quickly updated their planned ads to show support for their employees and customers. Like Ford, Hyundai is promoting a financial relief program that lets customers who become unemployed or sick from the pandemic miss up to six months of payments on new car purchases.

Other brands mobilising to help with the crisis

When ingenuity, adaptability and shared effort means everything, many global fashion, beauty and car companies are turning their efforts to provide hands-on help with the big issues, and earning some well-deserved publicity in the process. For example, Saint Laurent, Balenciaga, Gucci and other fashion brands are developing face masks for healthcare workers.

Similarly, companies like L’Oreal and LVMH (the Louis Vuitton group) are using their production factories to manufacture much-needed hand sanitiser for hospitals, nursing homes and pharmacies across Europe. While Ford is working with 3M and GE to make ventilators and respirators.

The common theme across all of these initiatives is that when brands show that they understand what’s important and take action (rather than just talking about the issues), the goodwill they inspire is priceless. Every one of these communications is supported by positive action on the organisation’s behalf to benefit their customers, their employees or the broader community. As with any business, your brand would be nothing without your customers. Your customers have supported you for many years, and now it’s your turn to support them – and others in the community – in their time of need.

Making your marketing decisions easier in hard times

I hope you have found this article helpful, and that it gives you some ideas on how to support your customers more effectively during this incredibly difficult time. The role you play as a business in the coming weeks and months will make a big difference in the long run.

If your marketing team needs support or you’d like to chat to me about your communications strategy during this critical time, please don’t hesitate to give Margot at Pure a call on 0418 421 043.

Meaningful communication in uncertain times

The COVID-19 pandemic has thrown the community into an unknown and fast-moving situation that will keep changing as the situation evolves and governments and health authorities update their advice. I’m sure your business, like ours, is working hard to manage the situation calmly and positively.

While the coming months will not feel like business as usual for any of us, we are fortunate to be weathering the pandemic in these technologically advanced times. In fact, this could actually be our chance to use technology for connecting in the most important way yet – literally helping businesses, and individuals, come together and carry on.

It’s all hands on deck at the Pure Agency

At the Pure Agency, we are doing everything we can to mitigate risk and manage our business through this uncertain time. We’re determined to face the challenges in a smart, flexible and nimble way, working agilely to make sure we are able to look after ourselves, our families, our clients and the community.

Our whole team is working well together remotely and ready to bring your communication needs to the forefront. The steps we have put in place now will help us continue to deliver the best communication solutions to our clients and avoid problems later.

What does coronavirus mean for you as a business?

The current situation is a rapidly unfolding emergency on many levels – health, humanitarian, economic and corporate. Companies that can innovate and adapt quickly, and find ways to make things easier for clients and customers will be best positioned for recovery.

It is precisely during times such as these that effective, meaningful communication is key to keeping your employees, customers and partners informed and connected to your business.

Key communication opportunities to consider

The following are some things your business may want to think about to manage or even make the most of the current situation we find ourselves in:

• Demonstrating care to employees and clients, and outlining measures being taken in a simple, helpful way.
• Making it easy for customers to stay informed about the relevance of the epidemic on the products they have with you – be it their investments, super or health services – by providing reassuring yet factual information.
• Determining how your marketing plan needs to adapt to remain strong, and implementing those changes.
• Understanding customers’ fears and concerns, and addressing them in a clear, empathetic manner.
• Preparing stakeholder/customer messaging and ensuring it is up to date as the situation evolves.
• Identifying key areas for commentary and developing a content plan that can be switched on and off as needed.

To help you navigate the uncertainty, we will also be sending out a weekly newsletter that provides you with an update of what’s happening in marketing, and what you can be doing to stay on top of things during this time.

Part of your team in good times and bad

For insights into your communications, marketing strategy or if there’s anything else you’d like to talk about, please feel free to call Margot Cotter-Melton on 0418421043 or email. We look forward to working with you to help bring you, your clients and partners closer together. Finally, on a personal note, our thoughts are with all our clients and partners, and we hope that you and those close to you are safe and well.

Catch Allan Gray wildlife on new Sydney trams

It’s been exciting to spot our Allan Gray animals adorning the new Sydney light rail running between Circular Quay and Randwick. The unmissable tram wraps use this new large-format media to its full potential, encouraging investors to “get on board” and “get on track” with Allan Gray’s selection of contrarian investments. Posters inside the tram expand the campaign and explain the Allan Gray difference in more detail.

Keep an eye out for our famous owl and cheetah en route to a destination near you.

Does your marketing need better marketing?

The reality is that many organisations – especially C-suite executives – don’t give marketing the respect it deserves, viewing it as a cost centre rather than a crucial part of the business.

For the most part, the marketing department is allocated a budget which allows you to produce a cool-looking ad or brochure that gets your message across and elicits a positive response from your staff and marketing contemporaries.

When times are good, you get some dollars to rub together to create the kind of marketing campaigns that are often perceived as “nice-to-haves” in a business.

But if times are tough and profits are down, the solution is to reduce expenses. And the number one target for cost-cutting will always be marketing. Why, you may ask, when the marketing team is the one bringing home the bacon – looking after the customers you already have while generating new leads to help grow revenue?

The reason is because the true value of marketing, and what it brings to the business, is all too often misunderstood.

Marketing as a revenue generator, not a cost centre

Many companies have lost sight of the fact that marketing is a proactive growth driver that produces real results.

The marketing team often doesn’t have a seat at the table with the executive team, and can be bundled together with other functions. Marketing is often viewed separately to sales, and the heavy lifting that marketing does for the sales team is often not attributed back to the source. In the absence of an advocate in high places, there’s no one to keep promoting marketing’s undeniable worth.

But the fact is that if you have a solid, strategic marketing plan that is geared towards driving revenue, you can not only earn a seat at the managerial table, but you can end up being given more budget in tough times in order to help fill the revenue gap.

If your marketing plans are robust, you should be able to turn that lead generation tap on a little or a lot, to become the revenue generator, not the revenue guzzler.

Using results to prove marketing’s worth

Ensuring that all your activity is measurable, tracked against your goals and reported on is the best way to change the perception of anyone who needs to be convinced of marketing’s effectiveness.

As marketers, we know that we drive revenue, so it’s time to prove this and take greater ownership of our skills, insights and expertise. This includes reminding the right people of the essential role marketing plays in so many key areas of your business, such as:

• The company website that your existing customers visit regularly, and prospective customers check before they choose your services

• The sales tools, presentations, reports and collateral that help the sales team spruik your services, and get new customers and business partners to trust you

• The events, roadshows and trade shows that drive awareness and consideration of your offering

• The advertising, direct and digital marketing that promotes your brand, products and services, and gets customers to respond in the way you want.

In short, you need to make sure all the ways marketing contributes to your business revenue are reported on and acknowledged.

How we can help marketers reclaim their role

At the Pure Agency, we’re passionate about working with marketing teams to help them deliver highly targeted and effective strategies, plans and ultimately campaigns to get the results they’re after.

We’ve helped many clients boost their marketing budgets, grow their marketing teams and improve the perception of their achievements within their company.

To put it another way, we can take you from the team that takes orders to the team that delivers solutions.

For more on how the Pure Agency can partner with you to overcome your marketing challenges, call Margot Cotter-Melton on 8042 6980.

What Life of Brian and financial marketing have in common

Most brands in the financial services industry play it safe when it comes to their advertising. For marketers, this is both your challenge and your opportunity.

While it may be tempting to toe the line and present your brand in the same way as everyone else, the homogenous state of financial marketing also makes it an easier space to stand out in.

The temptation to follow the crowd

When thinking about financial services marketing, the crowd scene in Life of Brian comes to mind.

Brian: “You don’t need to follow anybody. You’ve got to think for yourselves. You’re all individuals.”

Crowd: Yes, we’re all individuals.”

Brian: “You’re all different.”

Crowd: “Yes, we are all different.”

Lone voice: “I’m not!”

The take-out? While financial brands may think they’re different, thumb through any industry magazine or click on an email from your bank or super fund, and they all look much the same.

Navy blue and corporate colours abound, coupled with clichéd imagery of handshakes, globes, suited financial professionals or lifestyle shots of grey-haired retirees living it up in convertibles or on the beach. Headlines are just variations on a theme, copy is often wordy and technical, disclaimers abound, and messages are written from the perspective of companies’ own credentials rather than really connecting with customers and letting them know what’s in it for them.

No wonder our audiences’ eyes glaze over.

Added to this is the fallout from the Royal Commission and the growing disconnect between Australians and their financial services institutions. The self-serving claims and platitudes are no longer enough.

The importance of cut-through in a cluttered market

It goes without saying that all communications need to be noticed, but as audiences are bombarded with information at every turn (giving new meaning to the phrase “ad nauseam”), achieving real cut-through is becoming more elusive than ever.

Getting noticed can be even more difficult when it comes to financial services marketing, with the Australian market being an extremely cluttered one.

A quick tally shows there are around 53 Australian licenced banks, 221 major super funds, 3,642 registered managed investment schemes and 81 general insurance providers. All of whom are vying for their customers’ attention.

To make things worse, with many brands assuming their advertising needs to look a certain way to be taken seriously, it can be hard to tell one player from another.

However by not creating communications that stand out, you’re probably not getting the attention of your audience in the first place, let alone holding it for long enough to achieve the response you’re after.

So, how do you ensure your advertising not only gets noticed, but gets results?

Creating difference (even where there’s none)

Presenting your brand in a new way is obviously easier when you have something different to say. So defining your brand, what differentiates you from your competitors and giving your customers a tangible reason to engage with your campaign, is key.

Even if the products and services you’re offering are on par with other providers, your marketing can still provide the differentiation you need to set you apart. There is always room to find fresh insights, explore innovative ways of telling the same story or uncover new truths that present a different perspective.

In other words, taking a fresh approach that strikes a chord with your audience – even if it’s just on an emotional level – can work wonders. And this is where intelligent, thoughtful marketing can make all the difference.

How we can help you achieve Pure stand-out

At Pure, we believe that creating cut-through is paramount.

As a highly experienced team that specialises purely in financial services marketing, we love creating beautifully differentiated campaigns for our clients – either to refresh and enhance their existing brand or take them somewhere completely new.

At every step of your campaign – from insightful strategic thinking to creative that pushes the boundaries – we have the expertise to help bring out your differences. Not just for the sake of it, but in a way that shows your customers that you’re human, you get them, you value their time and what you’re offering is worthy of their consideration.

We’ve already helped many clients differentiate themselves a myriad of ways – whether it’s by coming up with original 3D-rendered imagery to bring an innovative investment offering to life, designing a cutting-edge website that promotes a market leader in a more sophisticated way or creating ads that speak to a savvy audience in a whole new way.

For today’s bank-wary, information-weary audience, it can be a decision that makes all the difference.

For more on how the Pure Agency can help your brand stand out from the crowd, call Margot Cotter-Melton on 02 8042 6980.

An inspiring new website for Spire Capital

This week we launched Spire Capital's sophisticated new website, highlighting the team's experience and ability to connect with optimum investment opportunities across the globe.

Using a modern, clean design and simple navigation makes for a seamless user experience.

The new site is a testiment to the quality of the Spire Capital offering.

Check out the new Spire Capital site here.

New UniSuper campaign looks back to look forward

The launch of our new UniSuper campaign has been an exciting time here at Pure. It was lots of fun choosing and working with real UniSuper members to star in the campaign, which features vintage photos of members from their younger days alongside photos of them as high achieving academics and university executives.

The campaign’s proposition of “You’ve come a long way” celebrates how far members have come in life, just as their super fund has – with its high performance and member focus making all the difference to people’s futures.

Not only are UniSuper members loving the new campaign and the human stories it’s bringing to life, but news of the launch has been headlined in the media:

Campaign Brief Article

B&T Article

Mumbrella Article

UniSuper has achieved standout performance over the years. This is due in part to its internal investment management – a point highlighted by the new campaign, and it's been noted in a glowing article by the Sydney Morning Herald

Check out the new campaign here.

Pure Health launches with new medical tech client, Clinic to Cloud

After many years of working with leading financial services clients, the Pure Communications Group is excited to launch Pure Health – a sister company to the Pure Agency – created to service clients in the healthcare sector.

The first cab off the rank to partner with Pure Health is Clinic to Cloud, one of Asia Pacific’s fastest-growing medical tech companies.

Revolutionising the way medical practices work

Clinic to Cloud provides best-in-market practice management software custom designed specifically for specialists, GPs and other health professionals. The company’s mission is to make medical professionals’ lives easier while helping them deliver enhanced patient care.

Recognising the importance of being able to access up-to-the-minute patient information at the point of care, the cloud-based practice management software helps medical professionals work in a much more connected way from anywhere.

A cut-through brand for a cutting-edge client

To bring this innovative offering to life, Pure Health created a new visual identity to raise the profile of Clinic to Cloud across all consumer touch points. This included a new logo, brand design, website and marketing collateral to promote the brand in a contemporary way along with the sophistication and simplicity of messaging needed to engage busy medical professionals and help them understand the technology available to them.

Key to the rebranding was the insight that while Clinic to Cloud is a technological breakthrough, at its heart are very human benefits – connecting doctors with patients and the rest of their team to deliver the highest levels of healthcare to Australians when it matters most.

The client was delighted with the result. As Tanya Menzies, Head of Marketing put it, “The advances that our software offers can literally be life-saving. Our job is to help doctors and practice staff get on board this smarter way of doing what they’re passionate about – delivering the best care to their patients – and our new brand helps them do just that.”

Watch this space for more Pure Health initiatives

As our first foray into the medical tech industry – which is such an exciting and fast-growing area – the Pure Health team has loved working with Clinic to Cloud and helping to bring to life a brand that is so passionate about improving healthcare for the community.

Pure Health is also delighted to reveal that we’re currently working on a range of projects with the Hermitage Health Group, which consists of several industry-leading hospitals, clinics and medical research facilities across greater Sydney.

For more on how Pure Health can help you with marketing solutions or strategy in relation to your health projects, please call Margot Cotter-Melton on 0418 421 043.

Winner, winner champagne dinner

We had a wonderful night celebrating the past year with our clients. So many were up for awards and it was an honour to see nominations in so many categories.

We won twice with Digital Campaign of the Year for Allan Gray, and Website of the Year for the new Qualitas site. Congratulations to Chris Inifer from Allan Gray winning Executive of the Year - Distribution too.

It's been a bumper year for Pure and thanks to all the team who worked so hard to make us so successful.

What a fantastic evening and an excellent opportunity for us all to have a drink or three and catch up with clients new and old. Cheers.

8 nominations for Pure in the 2019 Max Awards

We've put the champagne on ice in preparation for a big night at the 2019 MAX (Marketing, Advertising and Sales Excellence Awards) 2019 on 14 June.

As well as being nominated for Integrated Campaign of the Year for several of our brand campaigns, we’re also excited to be nominated for the second year in a row for the MAX Creative Agency of the Year – an accolade we were delighted to win in 2018.

Being financial services specialists, it means a lot to be recognised for our creativity in an industry that doesn’t always make it easy to push innovative ideas when it comes to marketing.

Congratulations also to our clients Allan Gray, Qualitas and Flinders Investment Partners for their nominations across various categories.

We look forward to seeing you all at the MAX Awards, where we can celebrate another great year together.

Pure party on with the rockstars at FICAP

March saw the Pure team busting a move at the annual “Who wants to be a RockStar” event hosted by FICAP (Financial Industry Community Aid Program).

The night is a chance for both established and wannabe musicians from FICAP sponsors to take centre stage and compete for the illustrious RockStar awards. As one of FICAP’s major fundraising events, “Who wants to be a RockStar” has had FICAP supporters kicking up their heels since 2006.

With FICAP’s goal being to support ill and disadvantaged young people and their families, money raised on the night went towards Learning Links and the Starlight Children's Foundation.

It was such a fun night for a fabulous cause. Our congratulations go to the FICAP team for putting on another wonderful event.

Super new business win

Pure is excited to welcome UniSuper – a fund that’s dedicated to people working in Australian universities and research, and one of Australia’s largest super funds.

The win comes at a time when super funds are facing massive upheaval due to the banking royal commission and productivity commission report, as well as ever-changing legislation.

As a team that’s on top of the financial industry’s ins and outs, Pure is well placed to help UniSuper navigate the various challenges and opportunities.

With a new brand campaign being the first creative cab off the rank, we’re already working closely with the UniSuper team to deliver some exciting new work that brings even more life and relevance to this well-established brand.

New Dixon Advisory Campaign launch

Tomorrow marks the launch of our new 'Confidence' campaign for Dixon Advisory. For those who are feeling overwhelmed by the responsibility and changing laws in superannuation, this creative direction demonstrates how Dixon Advisory can help them feel more confident about their future. Using real Dixon clients and shot locally, this campaign is sure to make an impact.

Stephen Sun joins the team

Pure is delighted that Stephen Sun has joined us as Account Manager. As a retail marketing gun who has the talent to match his energy, Stephen’s brought extra capability and positivity to the team, so let’s see what he’s got to say.

How has your retail advertising experience set you up for what we do at Pure?

Retail advertising is very transactional, reactive and fast paced. We’re always responding to competitor activity so our messaging needs to be simple and compelling. By necessity, account managers need to balance nimbleness with agency process and missing deadlines is not an option.

Having worked on ALDI, what can other clients learn from their success?

ALDI is a challenger brand in a market dominated by Coles and Woolworths and therefore they needed to be irreverent with their messaging to get cut through. They were unafraid of pushing boundaries and their creative in market was always brave and tongue-in-cheek. While supermarkets might seem very different to finance, being human, keeping things fresh and connecting with customers remains the same.

Have you ever thought a campaign wouldn’t make a deadline?

While working with the Australian Electoral Commission in 2016, the government called a snap election but didn’t confirm the polling date until the weekend before. The account service team was left scrambling trying to find resources to despatch ads to national publishers. Not wanting to have to explain any mishaps to AEC officials, I’m proud to have been part of the team that despatched over 900 print ads in 6 hours.

Can it be hard balancing client needs with the creatives’ desire to push an idea?

While balancing different priorities can be challenging at times, the Pure agency’s focus on results and working collaboratively with clients makes it easier to align these two things. That means being passionate advocates for the creative, while also treating the client’s goals as imperative. Key to adding value as an account manager and enjoying the job is helping clients see the benefits of pushing creativity while keeping creatives aware of business realities and objectives.

OUR NEW QUALITAS WEBSITE SHOWS THE SKY’S THE LIMIT

It’s been all systems go in the Pure office as we launch Qualitas’ stunning new website – a site that needed to convey the impressive credentials of this highly successful real estate investment specialist.

As part of a major rebranding campaign for Qualitas, the unveiling is timed to coincide with the IPO of the much-anticipated Qualitas Real Estate Income Fund – the most recent Qualitas fund to be listed on the ASX.

With a sophisticated, high-end design and state-of-the-art UX, the website raises the bar in terms of financial services marketing experiences.

Visit the site here

Meet our new GAD, Sabrina Antoniou

We’re super excited to have Sabrina Antoniou join the Pure team as Group Account Director. As an expert hand in many high profile Sydney agencies for over two decades, she’s got oodles of experience, and more than a few stories to share.

You’ve done a lot in your 20+ years in advertising. What are the highlights? Funniest story: As a young account exec working on the Bega Cheese account, I was up against a killer TVC deadline. CAD had rejected our claim that Bega was 'Australia's favourite tasty cheese'. As a result, I had to stand on the main street of North Sydney for three hours with a tray of Bega cheese cubes and coerce everyone who took one to say that it was, indeed, their favourite.

Proudest moment: Working on the Fusian Noodles campaign for MercerBell, which won eight international awards and was the most awarded campaign in the agency's history. This success followed a precarious start, because we had used footage from a vintage martial arts film, and we had to track down and get talent release forms from people all over mainland China who had starred in the film nearly 50 years ago. It very nearly didn't go ahead, but for the team's belief in the idea.

Brush with fame: Launching the Virgin MasterCard and dancing the night away with Richard Branson.

What are your priorities as Group Account Director? • To understand my clients’ businesses as well as they do. • To earn their trust. • To never present clients with an idea that I'm not proud of. • To make them smile. • To work as hard as they do, as a true member of their team.

How do you think clients’ needs have changed in recent years?

These days, there’s just so much more noise to cut through. And it’s not only from brands themselves.

Consumers are taking ownership of the conversation, which means reputations can be sealed before a single ad goes to air.

Brands are being experienced through so many different mediums, and the consumer demand for seamlessness in these interactions means we have to work harder to connect authentically with our audience across every touch point.

What attracted you to Pure, having been at both digital and social agencies?

I like the fact that Pure is a tight-knit and nimble senior team. Being a smaller independent agency, it’s a chance to get back to the genesis of the brand and the idea.

As a specialist agency, it’s also an opportunity to put to good use my long history of experience on financial services.

By joining a team with such high creative standards, I feel like I have the chance to create work that stands out in a category that’s often thought of as bland, and makes a real difference to clients’ businesses. And that makes it all worthwhile.

Flinders Exactitude launch

This campaign raises the profile of Flinders as a high-caliber team of small cap specialists in an unexpected and sophisticated way. Exactitude helps us explain how we identify the best opportunities, how we minimise risk and work as a team to deliver strong returns.

PURE CREATIVITY WINNERS!

Congratulations to our PURE Creative Gingerbread decorating champions. We have had an avalanche of entries in our Pure Creative gingerbread decorating comp. The most hilarious and imaginative entries were made by Stephanie Antonis from Financial Standard, Belinda White from Qualitas and Justine DeMestre from First State Super and they are our wonderful winners. The elves are rushing giant gingerbread men to them lickity split! The Pure Anticipation Christmas countdown ends today, see you in the New Year.

Merry Christmas from the Pure Elves

We are B&T Outdoor Campaign Finalists

We are very happy to be a finalist in the B&T outdoor campaign of the year 2018 with our Allan Gray Potential Pursued campaign.

We would also like to congratulate all the other finalists on their nominations.

See the work

FROM SCRIBBLE TO SHOWPIECE, AN IDEA COMES TO LIFE

It takes time for a creative solution to take shape, from the initial spark of an idea to crystallisation of the concept and the finessing of the final visual.

Here’s how we brought MCP’s offering to life in a way that did justice to their innovative collection of corporate lending investment opportunities.

By working with our talented retoucher, complex 3D rendering allowed diverse objects to be consolidated into a single, sculptural image with photo-real impact.

Looking back at the way this idea evolved, the key takeout is to be open to creativity, and investing a little time and money (relax, we’re not talking big budgets here) in pushing an idea a bit further.

Steering clear of the clichés so often seen in financial advertising, the finished product demonstrates that innovation in financial services – and the way it’s marketed – is alive and well. And can make all the difference in getting the cut-through you’re after.

The Pure Agency wins MAX Creative Agency of the Year 2018

Last night at the 2018 MAX Awards, we were absolutely thrilled to win ‘Creative Agency of the Year’.

We are very proud of our Pure team - this is a fantastic endorsement from the financial services industry and demonstrates our commitment and passion to produce quality work.

We would like to thank our fabulous clients and suppliers who make our work possible. And we congratulate all the other winners and finalists.

Changing the game with Nigel Blythe Tinker

Nigel is the Executive Chairman of VGW and we have been working closely with him since his move to Australia in February 2018.

As a well-known and highly respected figure, with over 30 years of success governing some of the worlds largest and most sucessful gaming companies.

Nigel made a name for himself as Chair of GVC; the world’s largest gaming company. GVC listed on the London AIM Stock Market in 2004 and is now valued at approx. €8 billion. Perhaps his greatest success however was the listing of gaming giant William Hill on the London Stock Exchange in 2002.

Now, all eyes are on Nigel since taking on the role at VGW in Australia and the imminent IPO for the company on the ASX coming this September.

The hunt is on, get cracking!

Easter’s just around the corner. So here’s a little fun from us to egg you on. Our bunny’s basket is bursting and he’s hiding eggs all over our site for new and current clients. Jump on, hop to it and hunt for the treasure. Click on one before they disappear and an eggstravagant gift will soon be in your hot little paws. Happy hunting. From all the good eggs at The Pure Agency

Breakfast with the chief economists

Global finance was on the menu this morning as Margot and Justine attended the annual Chief Economists Forum in Sydney, where an impressive line-up of economists and strategists shared their insights on what we can expect for the year ahead.

In short, the global outlook may be more positive than previously thought.

With lots of change going on in the world – from the economic ramifications of Brexit to a burgeoning Chinese economy, increased volatility is a given. As a result, 2018 could be a year to stick to key fundamentals.

A recurring theme was the strong growth continuing in China, which many experts refer to as “the 4th Industrial Revolution” or “China 2.0”. With this growth comes higher earnings, which are driving consumption and domestic savings. These in turn are being invested back into the economy – meaning that while there’s significant debt being created, much of this debt is tied up in infrastructure and other tangible investments, making it more secure than debt that’s not asset-based.

So while (as usual) change is the only constant, shifting paradigms and new challenges mean more opportunities in the market for those who are ready to embrace them.

HOW TO WIN OVER THE 'MEH' GENERATION

71% of millennials would rather visit their dentist than listen to their bank.¹ Which is quite a big problem, seeing that by 2030, millennials will account for 53% of the population.

This generation are clearly disconnected with many of the old-school institutions and products they come across. They are not brand loyal, they think that all banks are the same, and most are open to switching banks depending on what’s on offer.

Riding the wave of changing attitudes is a range of new players – entering the market and shaking it up in a way that’s threatening traditional banking models. These include retailers, telcos, fintechs and technology giants.

Their approach is to disrupt what has long been a very conservative industry by taking cues from other digital innovators such as Uber, Amazon and Airbnb. These brands understand their customers, speak their language and give them what they want – all built around a seamless and satisfying digital experience that delivers new levels of service, speed and convenience.

33% of millennials believe they won’t even need a bank within the next five years.¹ This is a pretty alarming statistic and shows that banks need to act quickly to retain and acquire further millennials.

Connecting with the always-on generation

For millennials, technology isn’t just a part of life, it’s how they experience life. Never without their phone, they use mobile banking nearly three times more than other generations.²

Like all of us, millennials value their time and want to make every moment count. They want every task to be as simple as possible. Because of the brands they choose to interact with, millennials are used to a flawless customer experience and their digital expectations are high.

69% of millennials expect to see an application approved within an hour, 90% thought a response on the same day was acceptable and only 6% would be satisfied if approval took 3 days.³ When millennials communicate with their bank, 30% want to receive SMS alerts while 28% prefer push notifications through their app.³

Not surprisingly, financial institutions are realising they need to change the way banking is done, and not a minute too soon. Having an app that lets customers manage their money with just a few taps any time, anywhere is a given for everyday banking. But what banks really need to do is look at their overall offering and develop a unified and seamless experience that lets customers do as much as they can online in a few simple steps.

Adopting a millennial mindset to money

To show they really “get” millennials, financial institutions need to go much further than personalised communications. They need to understand this market, tap into their mindset and see what matters to them most when it comes to their money.

This generation is more financially insecure than other generations due to things like an increasingly part-time job market, student debt and rising property prices, coupled with an entrepreneurial approach to creating wealth. This in itself provides an opportunity to develop uniquely personalised experiences that will empower millennials to manage their money and save – whether it’s to walk the Great Wall of China or create a fulfilling future.

One area where millennial-centric marketing is making waves is in the Super space – with a new breed of tech-focused companies making headlines such as Spaceship, which attracted over 12,000 people in its first month and boasts a sign-up process that takes just 5 minutes. While Spaceship has differentiated itself well, this behaviour is still eye-opening, especially when the company has no track record as a super provider – something which would normally demand high levels of expertise and trust.

Other Super initiatives that have been developed to align more with millennial values include the launch of Future Super, which is Australia’s first fossil-free Super fund and Human Super, aimed just at women.

The “meh” generation will save us all

As millennials gradually take over the workforce, and the world, addressing their expectations and needs should be a priority for all financial institutions. This won’t only enhance the overall customer experience, increase retention and overall profitability, but make the way we engage with money better for us all. So what is your organisation doing to speak to millennials?

-

Sources

1. Digital Banking Report, The Millennial Mind https://www.digitalbankingreport.com/dbr/dbr244/
2. The 2017 Deloitte Millennial Study, Apprehensive millennials: seeking stability and opportunities in an uncertain world https://www2.deloitte.com/content/dam/Deloitte/global/Documents/About-Deloitte/gx-deloitte-millennial-survey-2017-executive-summary.pdf
3. The Millennial Disruption Index http://www.millennialdisruptionindex.com/

Written by: Margot Cotter-Melton I Managing Partner                                                                                                                                  For further information please contact  I 0418 421 043 I margot@thepureagency.com.au

SUPPORTING 'YES' TO MARRIAGE EQUALITY

The marriage equality vote result is a step in the right direction for all Australians. We at Pure support diversity and equality. Love is love.

WE'RE OUT THERE MAKING HEADLINES

Allan Gray is everywhere this week with the launch of our new "Potential.Attained" campaign in Sydney, Melbourne and Brisbane.

We are very proud of our new campaign and a massive thank you to all involved including OMD, Vandal and Limehouse Creative.

Read all about it.

Mumbrella

Campaign Brief

PURE SUPPORTS THE FINANCIAL COMMUNITY WITH FICAP

The Financial Industry Community Aid Program (FICAP) was established in 2006 by a committee of finance professionals to provide a way for the industry to could give back to the community. 

Since inception the program has supported three youth focused charities and the aim is to raise as much money as possible to benefit young disadvantaged Aussies and their families. The money is raised through sponsorship and an annual industry event ‘Who wants to be a Rockstar’. Singers from the sponsored companies battle it out for the Rockstar title. The event has grown year on year and it’s no surprise that since inception FICAP has raised over $1 million for their charities. 

PURE is proud to be a pro-bono partner and contribute to this great organisation. In 2016, we refreshed FICAP's branding and built a new website to mark their 10 year anniversary and bring to life the positive contribution FICAP is making to the community. The new look and tag line ‘Raising a brighter future’ was unveiled at a sponsors event earlier this year.

2016 has been FICAP's biggest year of sponsorship and PURE are very proud to have contributed to the success and look forward to successful years to come.

FIVE MINUTES WITH OUR NEW CREATIVE DIRECTOR KYLIE SUTTOR

Tell us about your career to date. Over the past 20 years, I’ve experienced it all – standing on the podium holding shiny things, working on my goth-tan by spending endless hours in edit suites, speaking at conferences, running ADMA Idols for a few years, and coming up with cut-through campaigns. Highlights include creating a life-size augmented reality Audi Q5, surprising CEOs with a custom-made surfboard for Tourism Australia and channelling Kanye West for the gritty NRL launch TVC last year.

Industry wide, what work has excited you recently? The “Like a girl” campaign, which delivers a fundamental truth in a surprising way. Love that our industry has the power to create social change as well as delivering real results for businesses and their products.

Who or what inspires you? I’m inspired by Japanese Shokunin and their dedication to their craft and pride in creating even the smallest piece of sushi. They’re always striving for perfection, searching for the right ingredients and honing their mastery through constant practice. The same goes for creative – the ingredients may be different and customers’ tastes vary, but a quality product never fails to impress.

How do you stay up to date with the industry’s best work, trends and culturally relevant news? I’m a prolific Instagrammer, social follower and blog reader. And of course, I spend a significant amount of pub time catching up with my adver-buddies.

What do you think the major challenges are going to be for agencies in the next 2-5 years? The big challenge is keeping true to the core idea when campaigns stretch across multiple touchpoints. It’s also about being able to create a bigger impact with smaller budgets.

In what ways do you think the industry can change for the better? The industry is always evolving. When I first hit the ad world, the internet was in the early stages, and print and TV were king. Now the diverse way we connect has opened up endless opportunities for innovation and cut-through. The industry needs to keep evolving and move into more of a collaboration model where creative hubs take briefs into new and surprising places.

IN THE NEWS.

Campaign Brief: http://www.campaignbrief.com/2017/07/former-archibaldwilliams-creat.html

Mumbrella: https://mumbrella.com.au/kylie-suttor-joins-the-pure-agency-as-creative-director-461121

PUTTING THE T IN TAL

These cool Ts are part of our campaign to promote TAL’s Female Excellence in Advice Award. Along with the rest of our “Changing futures together” movement. They’re designed to rally advisers to join together to address gender inequality and change things for the better. See the full campaign in the WORK section of the Pure site.

PURE ROCKS OUT WITH FICAP

The Pure Agency were proud sponsors of the recent FICAP event, where we assisted in raising more than $200,000 for charities that benefit young people.

THE OWL TOWEL HAS ARRIVED

To celebrate the launch of Allan Gray’s new “animal” brand campaign, we created "owl towels" as a gift for staff.

People are more likely to divorce than change banks

Surprising as it may seem, people are more likely to get a divorce than dump their bank. This article flags that such loyalty doesn’t necessarily mean customers are happy with their bank, more how much of a hassle it is to switch. However new NPP and other technology may soon make the switch easier, presenting new opportunities for rivals of the big four.

http://www.smh.com.au/business/comment-and-analysis/time-to-break-the-banking-lazy-tax-20161127-gsyvp1.html

FINANCIAL SERVICES SPECIALIST MARGO MCWILLIAM JOINS AS HEAD OF COPY

The Pure Agency was delighted to welcome senior integrated creative Margo McWilliam in June this year.

A familiar face in many of Sydney’s top ad agencies, Margo has worked on countless blue-chip financial clients over the last 20 years, including ING DIRECT, Westpac, Commonwealth Bank, St.George, AMP, American Express, HCF, Bupa and more.

Margo’s strength is in steering clear of the technical jargon and clichés that are common in financial communications to create simple, cut-through campaigns across every medium. Her experience is the perfect fit for a team focused on helping clients connect more meaningfully with both existing and prospective customers, in a way that translates into tangible results.

THE PURE AGENCY IS ON THE MOVE

The Pure Agency is growing and on the move. We are now located on Level 15, 25 Bligh Street, Sydney, just a block from Martin Place.

Why we need a financial services-only agency

Like most things in life when given the choice to seek the services of a specialist or a jack-of-all trades, most of us would go with the specialist. So we wanted to provide the industry with that choice. 

There are only a few agencies that have held big financial services accounts for long periods of time. Other agencies who are known for FMCG, automotive and retail dip in and out of the finance category. We felt there was a gap in the market and that clients could truly benefit from an agency that has proven credentials in the financial services industry. 

How are marketers getting more bang for their buck?

Australia's financial services marketers have learned a lot from our US and UK colleagues. With bigger markets and therefore bigger budgets, they have the ability to experiment more. Now that marketers have come to terms with the need to invest in big data and the real-time learnings gleaned from the digital channel, we are in a position to be smarter, giving us greater efficiencies with our spend.

Since the economic downturn, financial firms are demanding accountability and demonstrable return on their marketing spend. Direct marketing has always made this possible, but greater data capability and digital solutions now allow marketers to react quickly and dynamically to customer actions and market conditions.

Of course data continues to be a key driver of customer retention. It does this by demonstrating to customers that a brand understands their needs and can provide relevant, timely and often helpful information. 

Every campaign we work on is underpinned by a robust strategy. We identify any business issues along with barriers for consumers to gain the insights needed to find solutions to these barriers. This then determines our strategic approach and what tools will be required to achieve the desired outcomes. We not only interrogate current customer and behavioural data, we also look at what purchased data is available to enrich our insights and opportunities. We also assess if segmentation will drive a better outcome for our communications. Above all, we need to test and learn, so that we are always building knowledge while achieving our clients' desired outcomes and reducing wastage. 

How are marketers driving brand value?

The financial services industry has for the most part been very conservative with their marketing. However appetite is increasing for braver marketing strategies that really differentiate brands and make them more accessible to customers. The competition will only continue to grow, especially among superannuation brands, so marketers know they need to maintain growth to stay alive. Many of the logos and messages we see today are monotone. The lack of differentiation can make it harder for customers to connect with your brand. Brands that reach out and make a connection with consumers will always achieve results regardless of the spend put behind it.  

The Pure Agency is about finding ways to work with legal departments to keep the copy edgy; to not compromise the ideas as so often happens through lack of category understanding. We see this frequently among asset and wealth management brands that have meaningless and generic positioning that give the impression the brand doesn't stand for anything. Brands that are articulated with strong ideas do well. However the majority of marketers are preoccupied with tactical plays and lose sight of their longer-term goals.

What are the top 3 things marketers can do to improve?

Minimising wastage of resources, both internally and externally, is the first step for many firms. A straightforward way to do this is by developing smarter partnerships with appropriately skilled agencies and streamlining internal processes to minimise double handling.

Another issue that needs to be addressed is failing to cross-sell on the one hand or approaching customers in an undisciplined manner on the other. Brands don't just need style guidelines, they also need customer contact frameworks that put discipline around what messages are appropriate for different types of customers, how often they communicate and the manner in which they reach out to customers. Putting parameters around marketing touch-points and clearly prioritising messages can reduce costs and better target audiences. It also allows brands to build on a story rather than tactically shooting from the hip just because targets are not being met in a particular portfolio.

Lastly, in many instances brands have limited budgets yet still feel the need to advertise across all media platforms. This is destined to fail because each platform requires a properly targeted strategy. Clients should feel confident in picking a few platforms to focus on to maximise their acquisition and cross-sell tactics as part of a cohesive strategy that drives brands forward, helping them to differentiate.

Interview with Margot Cotter-Melton, Managing Partner of The Pure Agency.  Conducted by Leonie Phillips, Director at Thought Broker. 

PURE GETS STRATEGIC WITH MICHAEL NEARY

Michael has over 20 years' integrated experience on both the client and agency side in campaign management, strategy and planning roles. Having held positions at 360, STW, Lavender, CBA and St George, he brings a wealth of skills and insights into segmentation, loyalty, behaviour change, digital strategy, campaign planning, CRM and data.

I have been fortunate enough to work with Michael on several occasions over the last 15 years, and am thrilled to be working with him again.

Michael is one of the most experienced direct planners in our industry. He always strives to breathe life into accepted thinking while pushing the boundaries. His strength is in developing strategies that are incredibly insightful and relevant to the target market, while recognising that the new, smarter economical customer is loyal to themselves rather than to brands.

With Michael as part of our talented team, The Pure Agency is even better equipped to provide our clients with leading-edge marketing strategies for the future.

Written by Margot Cotter-Melton, Managing Partner, The Pure Agency.

WHY PLAYING IT SAFE IN FINANCIAL SERVICES IS DANGEROUS

Looking at the financial services landscape in Australia, it’s clear that the majority of financial services organisations play it safe when it comes to branding and advertising.

But the fact is that playing it safe can actually be dangerous. Looking like your competitors, and making it hard for your customers to see the difference in your product offering, is not a smart use of your marketing dollars.

Using a metaphor from the financial industry, marketing is like an investment – to reap greater returns you may need to take greater risks. Here are some that could be worth taking:

Get creative

Customers are bombarded with so many messages these days that conventional often means forgettable. Nowhere is this more evident than in financial communications. While no one wants to be frivolous about something as serious as money, coming across as a human brand that ‘gets’ its customers and has a fun side can do wonders for cut-through.

Be a thought leader not a thought follower

Being ahead of the pack when it comes to what people are thinking and doing places you at the forefront of your industry. You show that you’re progressive, passionate and that your customers can trust you to be on top of the latest developments.

Try a new medium

While you don’t need to get on board every new technological fad, there’s something to be said for stepping out of your comfort zone and surprising customers in a new way every once in a while. You’ll stand out as an innovator, and your message will stand out too.

Put your money where your mouth is

Many companies say they’re into innovation, but when push comes to shove they choose the safe idea over the big idea. Put your trust in your agency, take a leap of faith sometimes and don’t let rounds of organisational and legal feedback water down a cracking idea.

Approaching things from a fresh perspective and taking calculated risks can help us step out of our habitual thinking and really engage with our customers.

When the risky call pays off

One of my favourite stories from when I first started in advertising is about a meeting with a major client – one of Australia’s top companies – about their new branding campaign. About 20 key stakeholders were assembled in the boardroom. The agency chairman started the meeting by making a call on speaker phone, while everyone waited. He was placed on hold for around 15 minutes, and as time ticked by, people were getting annoyed and frustrated, and about to walk out of the room.

The chairman then explained that he was calling the company’s customer service line and that on average customers have to wait for around 30 minutes before the call is answered. The client had no idea this was the case and was extremely grateful for the discovery. They could now put a plan in place to deal with the issue and make their customer service the best in the market.

This was of course a rather risky move for the agency but it would have been riskier not to have addressed this, as the future of the brand was at stake.

Isn't it time to start protecting the future of your brand by identifying how you can stand out from the crowd and connect more meaningfully with your customers? After all, the biggest risk may be never taking one.

Written by Margot Cotter-Melton, Managing Partner, The Pure Agency. 

THE PURE AGENCY LAUNCHES AS A SPECIALIST FINANCIAL COMMUNICATIONS AGENCY

After much research and hard work, we are very pleased to open our doors for business, and we thank all involved for making it happen.

In the financial services category there is a lot of noise and a lot of money spent, but a very conservative approach to motivating the audience.

At The Pure Agency, we help differentiate financial services brands to give them a competitive advantage.

Our team is an experienced one, and we are passionate about finance. Over many years, we have each worked with some of the world's leading financial institutions and we come to the table with all the big agency experience you will ever need, without getting bogged down in big agency protocols.

While we possess a wide range of skills, one thing we have in common is that we're strategic, commercially minded, results orientated and creative individuals who are flexible and collaborative in our approach. We talk with intelligence and honesty, and we listen with an open mind.

We are The Pure Agency, specialists in financial services communications