If there was any bank in dire need of endorsement radio, it would be WaMu. In September 2008, they are taking a beating –WaMu is one of the big banks that is sorely hurting from the whole mortgage crisis of 2007/2008.
A sexy ad campaign is not going to get me to give my money to Washington Mutual right now, but some well placed endorsements could.
Plus, I almost feel like WaMu deserves what it’s getting for it’s horrible “The bank that makes you go Woo Hoo” campaign. I want to gargle nails every time I hear it. This cutesy little saying that no man should say. It comes across at best as insincere and at worst…what’s the word? Whimpy, I guess. It’s especially painful when the traffic guy or news gal has to say the line. See, WaMu’s agency can
-
make
a station say the line, but they can’t coach personality and inflection, the only thing that would save a dumb line like Woo Hoo. I laughed today when I heard the money guy on NPR say “I never understood that campaign”.
I understand it. They paid some ad agency to create something new and different…something that people will remember…that will capture the way their die- hard customers truly feel about free checking. They likely paid a few million just on the creative concepting. They got Woo Hoo for their money.
I’m getting off track here. Oh yes, I was talking about endorsements. With the trouble WaMu has gone through financially and to make good on a horribly conceived campaign, someone like a Jim Rome saying “look, WaMu is stable, they still have their free checking, their interest rates on CDs are outstanding, and I’VE got a lot of money over there…you gotta see what WaMu has to offer. For you small businesses, WaMu doesn’t just promise service…they deliver. They’ve helped me figure out this, that and the other and their advice has been dead on every time”.
With an endorsement, you’ve also just broken out of the clutter of every bank saying the same thing. And people are hearing the ads from someone they trust.
Otherwise, it’s more boo hoo and less customers.


