Posted by Lisa Hochgraf
HSBC bought 24 ad pages in the Oct. 17 issue of New York magazine, making it the largest single-issue advertiser in the magazine's history. The ad buy includes every full-page ad in the magazine before the listings section, and the back cover.
Wow.
Bold move? Definitely.
Crazy? Maybe not.
"HSBC is choosing to make a strong statement when there's a lot of turmoil," comments Ellen Oppenheim, chief marketing officer for the Magazine Publishers of America in this article from the International Herald Tribune, the international edition of The New York Times.
I know credit unions don't have this kind of marketing budget. While New York probably cut HSBC some kind of deal, the published rate for a single full-page ad in the magazine is $64,000.
But what I like about this marketing move is its boldness. It's way of taking a stand, really getting out there, not being afraid to put a good few eggs in one basket.
Credit unions can--and maybe should--do that.
Check out this other recent post about driving out the fear of new approaches to credit union marketing in "'Fun' First--or How Would you Phrase it?"
