Marcus is ridiculing traditional banks with new ad campaign

Marcus of Goldman Sachs launched the largest marketing campaign ever. Actress Rosamund Pike uses a video of a mainstream bank murdering a cheap free ‘bank made’ pen and free bad coffee.

Pike has appeared in everything from British films to James Bond When Bond’s parody is a far cry from the understated black-and-white photographs of Marcus Goldman, a bearded, bespectacled old investment banker who founded Marcus’ parent company.

Pike plays “M” (for the money, it has nothing to do with James Bond’s longtime spy boss). This is Marcus’ new spokesperson representing digital banks in campaign videos, social media and other channels. Marcus is really just a brand name and was introduced in 2016. The underlying institution, Goldman Sachs Bank USA, was founded in 1990 as an uninsured trust company.

The slogan of the program is “I can earn money”.

The campaign will initially focus on video and other media for high yield savings and general promotion of personal loan services. At the end of 2021, Marcus plans to introduce the long-awaited checking account, which is also announced. Marcus-branded online investing services will also be promoted by M later this year. The campaign will continue until 2022.

Dustin Cohn, head of asset management, consumer branding and marketing at Goldman Sachs, said: Financial brand.. “It helps encourage consumers to think about what they really want from their banking partners.”

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According to Korn, the characters introduced in 2020 are still new to banks. “We’re always looking for new ways to evolve our characters, make them reflect the evolution of the Marcus brand, and keep consumers excited about the next iteration, like this campaign. ”

Mr Korn did not disclose specific targets or amounts, but said it was the biggest campaign ever and a build-up of the introduction of a Marcus checking account. He explains that checking accounts are meant to complete the basic steps of consumer banking.

“With our new check product in the works, Marcus is becoming a one-stop-shop for consumer credit, so we want to strengthen and expand our relationships with consumers through our marketing strategies. . “

– Goldman Sachs Marcus, Dustin Cohn

At the time of the last appeal report in late March 2021, Marcus had $ 225.8 billion in deposits, most of which bore interest. This represents an increase of 25% compared to the figures of the previous year. Net lending amounted to $ 96.8 billion, down 6.5% from the previous year. This reflects management’s decision to slow initial loan growth. Marcus is an Apple Card banking partner, creating certain commercial loans to Amazon sellers in addition to direct loans through his own channel. As of March 31, 2021, the bank’s total assets were $ 288.6 billion.

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