A very interesting study was just done by Nielson on the value of advertising by financial institutions. It shows that when financial institutions are building their brand through advertising, the confidence in those companies goes up. Here is a quote from the study:
“When asked about their own banks, insurance companies and investment firms, 55% of respondents who said they had seen more advertising for their financial institution reported having complete confidence in the financial health and soundness of their financial company and only 18% said they had little or no confidence in their company. However, among those who said they had seen less advertising, only 18% had complete confidence in their financial company and 45% said they had little or no confidence in their company” Source: Nielson Study
To some extent I am not surprised about this result as many financial institutions have been running high profile “we’re still sound” ads in recent months. It does show however that advertising can get the word out very successfully and particularly so if you focus. Most of the ads I have seen have been very focused.