BMO has launched a new campaign for its AdviceDirect online wealth management service, featuring three video spots that tie features of the service to amusing everyday situations. The campaign is KBS‘s first original work for BMO since winning the bank’s wealth business last fall.
“AdviceDirect is a first-of-its-kind service that has an array of great features to help online investors who are seeking more guidance when investing,” said Al Gregoire, head of marketing for BMO’s investments buesiness, in a statement. “We wanted our advertising to be as unique as our service, so the goal of the campaign is to highlight these benefits in a distinct and memorable way.”
AdviceDirect offers many of the services of a personal advisor, like recommendations, analysis and portfolio monitoring, but it also offers an online interface that self-directed investors can access to manage their accounts. The product and campaign target self-directed investors who are looking to get their hands dirty with the tools that advisors use.
Each spot in the campaign highlights one feature of the service with a metaphor about daily life. A 30-second spot called “Dinner Party” shows a man stepping away from an immaculately set dinner table, only to return a second later to see it completely destroyed (and a guilty-looking dog sitting nearby). The narrator then explains that an investment portfolio requires constant vigilance, since things can go wrong in a flash; and AdviceDirect can monitor your portfolio continuously.
“Rather than try and come up with one statement that would allow you to understand the total package all at once — which is a very hard thing to do — we broke it down into the individual features that people can relate to,” KBS Canada CEO Steve McCall told Marketing. “It’s looking at your portfolio 24 hours a day, seven days a week, which not even an advisor can do. People can relate to that very easily — somebody’s watching it when I’m not watching it? That’s great, I’d like some of that.”
A 15-second spot called “Brutal Honesty” highlights the unbiased recommendations that AdviceDirect gives, which are based on computer analysis rather than advisor expertise. Biased advice is a big concern for investors, which makes AdviceDirect’s lack of conflicts another big selling point, McCall said.
The campaign aligns with BMO’s recent repositioning as a more accessible, human banking brand. Though AdviceDirect isn’t a retail product, it still fits with the idea of easy, consumer-oriented banking.
“It’s a nice serendipity. What we’ve found in our own research with financial services is that humanizing investing and products is very important,” said McCall. “Anytime we can make it more human and relatable, where it feels like they can engage with it, we always have a lot more success with response to messaging.”
The media buy, managed by Maxus, focuses heavily on online media, with most ads targeted at web users who have researched investment products with BMO or other banks. The online ads are intended to hook investors and direct them back to the AdviceDirect site, where they can have a more full conversation and learn about the product. Broadcast and print media will also run.
