Analyzing a CoVantage Credit Union Ad

It is time for me to analyze another ad for you guys, to really take a look at an ad and figure out what was done well in it, and what the things that should be avoided at all costs are. This week, I’m bringing you an ad from a local business I found on Youtube one day, CoVantage Credit Union. Sigh, it’s ads like this one that want to make me stress that I asked for you guys to suggest ads for me to analyze, because when you don’t, occasionally I find ads like this one. I promised you a bad ad this week, and this one is one of the worst I’ve seen in a while. This will once again be my opinion, and I invite you to leave yours down below as well. Maybe you’ll find something in this ad that redeems it, or maybe you’ll find more evidence to support my arguments. Either way, the ad will be down below and lets get this started

Let’s start out with the very short list of what they did good, and at the top of that list is the fact that this showed up before a video I was watching on Youtube. This is a local business that is primarily located in central Wisconsin, with a few branches in Michigan. The fact that they had an ad pop up on my Youtube is pretty amazing. I’m going to guess that unlike most of the ads we see before videos on Youtube, they aren’t just blasting out their message to everyone. It doesn’t make much sense for a credit union to advertise their services, which are located primarily in Central Wisconsin, the Midwest for sure, to people in California or New York. I could be wrong, but I’m guessing that they are targeting their ads to local IP addresses. This is more praise for the delivery of the ad than it is for the ad itself, but this is one of the few things they did right. In this world of social media and the internet, small local businesses struggle to find ways to use the internet to market their goods to people that would actually be interested in using them. Local IP targeting is a great idea for that, and it’s one of the few local businesses I’ve seen advertised that way.

The other thing this ad did well is they showed the local community where they are located, and the local people’s reactions to what was going on in the ad. If nothing else, the people in this ad, or their friends, will come across it and show everyone they know that they are on TV. That will help to generate excitement for the brand and get people to watch it. I’m not sure that people will care about what is in the ad any further than, hey, I know that guy, but it will get people talking about them, so that was probably one of the best parts of their strategy with this ad.

Now we get started with what they did badly, and I just want to start with their choice of narrator. It could be just me, but this guys voice really annoys me and I really, really don’t want to watch it. Watching it the four or five times I did to gather my notes for this article was painful. I don’t know if this is the president of CoVantage, or if he is some random voice actor they picked up, but either way its a mistake. When yours is going to be the only voice in the ad, you want to get someone that people will enjoy listening too. Get Morgan Freeman. People love listening to his voice, there have been so many movie jokes about people loving to hear Morgan Freeman’s voice. In one of the previews for the Lego Movie they had Morgan Freeman say that you would enjoy listening to anything he has to say, including reading the phone book. He then proceeded to start doing that, and it was amazing! I know that Morgan Freeman is likely out of their budget range, but you could get someone better than the guy that they did.

This ad failed to capture my attention in the first five seconds. Yes, there is a man walking around in money shoes, but when you combine that with the narrator, the choice of music, and the fact that this ad is a minute thirty long, I’m hitting the skip button. I recognized that this was filmed in downtown Wausau, so I was intrigued by this and kept watching. If didn’t write this weekly advertising article, and want to have some local ads shown in it, I guarantee you that I wouldn’t have been so interested in it. The music in this ad by itself isn’t terrible. It wouldn’t be my first choice for an ad, or likely ever show up on my radar, but there are worse things to pick. But when you combine it with the narrators voice, it’s so much more painful. Ugh, I can not get across how much the narrators voice annoys me! The only thing about the first five seconds of this ad that is truly commendable is that CoVantage Credit Union is on the screen for the entire first five seconds and the narrator mentions Covantage Credit Union. Even if you do click out early, you are still being exposed to the brand twice, and if you don’t click immediately at five seconds, you’re going to get hit with it again. So, the first five seconds are pretty bad, but it does get the brand across to you at least.

This ad was incredible unprofessional. When you combine the choice of music, the narrators voice, the fact that the commercial is about a guy walking around in shoes made out of money and most people’s reactions were negative, this does nothing to make me want to trust CoVantage Credit Union with my money. If they’re just going to attach it to some guys shoes and have him prance about in them in public, I’d rather stick the money in my mattress thank you very much. There are two things that are said about CoVantage Credit Union in this ad. The first is, “When you bank at CoVantage, you step into more cash.” What does that even mean? I know that they are trying to connect it with the guy walking around in money shoes, but still, what? Are you claiming that if I bank with you I’ll make more money? How? Is this a guarantee? Will you give me more money? I think this is more of an empty promise or a pun than anything else. The other thing they say about this bank is, “get a car loan or a mortgage or something there.” Really? You are a financial institution asking me to trust you with my money and your call to action is that? The narrator doesn’t sound like he even knows what CoVantage offers! This ad was incredible unprofessional, and I think that banking is an industry where you need a little more professionalism than that in your advertising.

This next point will seem like it is something that they did right, but when you step back and really think about it, having mentioned or shown CoVantage Credit Union five times really wasn’t enough. Five times in an ad a minute and thirty seconds long averages out to about one mention every eighteen seconds. Let’s compare that to what my teachers suggested for a thirty second ad. They recommended three times in a thirty second ad, which averages to about once every ten seconds. Yes, I understand that they mention it three times in the first seven seconds of the ad, and yes, I understand that they end the ad with it being mentioned twice in the last six seconds, but that’s five mentions in thirteen seconds. What about everything in between? There is just so many chances for the brand to be missed in this ad because there is so much useless shots in this ad. If you reduced it down to thirty seconds I would say they did a marvelous job at this, but it’s another fail in my opinion.

Speaking of fails, did you notice that CoVantage failed to mention any benefits to banking with them? Yes, they said that you can step into more cash if you bank with them, but that’s a vague promise at best. Don’t you think they should have mentioned something about any benefits to having a savings or checking account with them, or maybe the differences about a bank and a credit union? This ad tells me to switch to CoVantage Credit Union, but fails to tell me why. Let’s just say that I’m not convinced.

And finally, this ad feels more like an advertisement for money shoes than it does one for a credit union. They get lots of shots of the shoes, they even mention how people are curious about where they can get their own pair of money shoes. I don’t recall anyone asking him about CoVantage Credit Union. Maybe if they had given him a t-shirt with the CoVantage logo on it, or maybe if he had a really big hat with the CoVantage Logo or some money stuck to it, people would have been able to connect the shoes to the credit union. I’m afraid that all I, or most of the people in this ad saw was a guy prancing around in shoes with money stuck to them.

That has been my opinion on this and what they did good and what they did horribly. If I had to rate this ad, I’d give it a half a star for being local. I hope that you all will leave your opinions on this ad or any suggestions of ads that you would like me to analyze in the future down below. If you liked what you saw, and want me to make more of these please leave a like, it means the world to me. Also make sure to check out my weekend review that will be going up on my blog on Sunday, I will be announcing a new idea I have for this weekly upload, and I would love to hear your opinion on it. If anyone at CoVantage ever reads this article, don’t take it personally and i would be willing to help you out with ideas for your next commercial.

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