By George Liondis
NORWICH Union has taken the master trust sector’s battle for recognition directly into people’s living rooms, with an unorthodox new television advertising campaign aimed directly at the general public.
The multi-million dollar television ads, screening around the newMoney Reportprogram on Channel 7, seek to promote Norwich’s master trust product, Navigator, directly to the public, even though Navigator is available only through financial advisers.
Norwich’s group general manager of public affairs Simon Morgan says the strategy to promote Navigator, rather than Norwich itself, has two objectives.
Firstly, to familiarise with Navigator those consumers who are likely to consult a financial adviser.
“Affluent individuals who are looking for investment solutions,” Morgan says.
And, secondly, to raise the profile of master trusts more generally.
Research conducted by Norwich indicates master trusts, including Navigator, do not have the recognition they deserve in the wider community, making the task of recommending them all the more difficult for advisers.
The ads follow a similar marketing ploy by Sealcorp, which ran a series of commercials on prime time television late last year to promote its flagship master trust, Asgard, after also concluding there was a lack of recognition for master trusts in the general community.
The Norwich ads, which feature different investors looking to plan, choose, manage and track their portfolios, conclude by recommending viewers consult a financial adviser.
“Advisers are reporting fewer appointments since September 11 and therefore are welcoming of any initiative that refers people directly to financial advisers,” Morgan says.
The Navigator television advertising campaign, which will be backed up by ads in newspapers, magazines and on billboards, is expected to run throughout 2002.
