Whether you’re a fan of American Football or not, there’s no denying the magnificence of the Super Bowl. With the biggest TV audience of the year it’s not just a celebration for sports fans, it’s a massive opportunity for businesses too – and one Canadian company scored a touchdown of its own during this year’s festivities.
Online portfolio manager Wealthsimple launched a new marketing campaign during the broadcast, taking advantage of the huge audience and a steal of a deal in Canada compared to the US.
“After we finished shooting the campaign, we knew that the best way to kick off a conversation would be to advertise during one of the most-watched television broadcasts,” said Mallory Greene, community leader at Wealthsimple.
“It seemed like a no-brainer when we found out that a 30-second advertisement in Canada costs $170,000 (vs. $5million in the US) and there’s a higher percentage of Super Bowl viewers in Canada.”
In the USA, Super Bowl commercials are famous – indeed many people tune into the broadcast to watch the advertising alone. So, the investment start-up, which is now among the largest online investment management firms in Canada with $400million in assets under management and more than 10,000 clients, seized on it as a fantastic opportunity to raise awareness.
While this is only the third day since the Super Bowl aired, early results suggest that the ad campaign was good value for money.
“The response has been extremely positive,” continued Greene. “Immediately after the ad aired, we saw over a 10x increase in traffic to the site. It solidifies that we’ve created a brand story that resonates with Canadians.
“Indeed you get 2.4x as many viewers in Canada for every dollar spent so it makes for a pretty good investment. It was the best way to introduce our new ad campaign.”
So after enjoying such a successful campaign, can we expect Wealthsimple to do it all again at the Super Bowl in 2017?
“Next year, the government will allow Super Bowl ads purchased in the US to air in Canada,” said Greene. “That likely means that Canadians will pay US ad pricing in 2017: so we’d have to look at the numbers.
“However, we have a large, cross-channel media buy plan running. So you never know where we’ll pop up next.”