{"id":29362,"date":"2009-08-19T02:13:29","date_gmt":"2009-08-19T01:13:29","guid":{"rendered":"http:\/\/www.corporate-eye.com\/blog\/?p=29362"},"modified":"2009-08-19T02:13:29","modified_gmt":"2009-08-19T01:13:29","slug":"banks-shift-to-a-brand-modesty-strategy","status":"publish","type":"post","link":"https:\/\/www.corporate-eye.com\/main\/banks-shift-to-a-brand-modesty-strategy\/","title":{"rendered":"Banks Shift to a Brand Modesty Strategy"},"content":{"rendered":"<p><img decoding=\"async\" class=\"alignleft size-full wp-image-29363 lazyload\" title=\"dom-perignon\" data-src=\"https:\/\/www.corporate-eye.com\/main\/wp-content\/uploads\/2009\/08\/dom-perignon.jpg\" alt=\"dom-perignon\" width=\"180\" height=\"240\" data-srcset=\"https:\/\/www.corporate-eye.com\/main\/wp-content\/uploads\/2009\/08\/dom-perignon.jpg 180w, https:\/\/www.corporate-eye.com\/main\/wp-content\/uploads\/2009\/08\/dom-perignon-150x200.jpg 150w\" data-sizes=\"(max-width: 180px) 100vw, 180px\" src=\"data:image\/svg+xml;base64,PHN2ZyB3aWR0aD0iMSIgaGVpZ2h0PSIxIiB4bWxucz0iaHR0cDovL3d3dy53My5vcmcvMjAwMC9zdmciPjwvc3ZnPg==\" style=\"--smush-placeholder-width: 180px; --smush-placeholder-aspect-ratio: 180\/240;\" \/>There was a time in the not so distant past when financial companies flaunted their money like the latest &#8216;it&#8217; celebrity in Hollywood.\u00a0 They&#8217;d plaster their brand names all over event venues and pay to sponsor pricey dinners and parties in special tents at the hottest events in town.\u00a0 Since the financial meltdown in the U.S., those days are over.\u00a0 Or are they?<\/p>\n<p>Despite a bill that sits in Congress that is intended to put an end to banks that received bailout money from sponsoring pricey events, the practice continues &#8212; but in a much more hush-hush fashion.<\/p>\n<p>According to an article in <a href=\"http:\/\/www.nytimes.com\/2009\/08\/12\/business\/12event.html?_r=1&amp;partner=rss&amp;emc=rss\">The New York Times<\/a>, banks aren&#8217;t steering clear of high price-tagged event sponsorships entirely.\u00a0 Instead, the new cool thing to do is to pretend they don&#8217;t have money to spend on those events at all.\u00a0 The new cool thing is for financial brands and the executives that represent them to pretend that they&#8217;re just like average consumers who can&#8217;t sell their homes, are in fear of losing their jobs, and have no health benefits and no money saved for their kids&#8217; college tuitions or their own retirements.\u00a0 Do you believe them?<\/p>\n<p>Of course, the leaders of these newly modest brands know that no one is going to buy their feigned brand positioning strategy, and it&#8217;s hard to give up the pricey event sponsorships where they can schmooze with their <span style=\"text-decoration: line-through;\">friends<\/span> clients over caviar and Dom Perignon.\u00a0 So what are they doing to keep the modesty charade going?\u00a0 They&#8217;re still sponsoring pricey events but they&#8217;re leaving their corporate and brand signage at home.\u00a0 Sometimes they&#8217;re even going so far as to, dare I say it, <em>share <\/em>event space to appear more frugal.<\/p>\n<p>So what does this new trend say about these brands?\u00a0 At a time when consumers are looking for trust in brands, feigning modesty seems to fly in the face of everything consumers want and need, particularly from financial institutions.\u00a0 What do you think?<\/p>\n<p>I want my bailout money back.<\/p>\n<p><em>Image: <a href=\"http:\/\/www.flickr.com\/photos\/jeffreyallen\/3775228976\/\">Flickr<\/a><\/em><\/p>\n","protected":false},"excerpt":{"rendered":"<p>There was a time in the not so distant past when financial companies flaunted their money like the latest &#8216;it&#8217; celebrity in Hollywood.\u00a0 They&#8217;d plaster their brand names all over event venues and pay to sponsor pricey dinners and parties in special tents at the hottest events in town.\u00a0 Since the financial meltdown in the [&hellip;]<\/p>\n","protected":false},"author":4,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_lmt_disableupdate":"","_lmt_disable":"","_genesis_hide_title":false,"_genesis_hide_breadcrumbs":false,"_genesis_hide_singular_image":false,"_genesis_hide_footer_widgets":false,"_genesis_custom_body_class":"","_genesis_custom_post_class":"","_genesis_layout":"","footnotes":""},"categories":[95],"tags":[310,5855,100,110,5854,5856],"class_list":{"0":"post-29362","1":"post","2":"type-post","3":"status-publish","4":"format-standard","6":"category-brand","7":"tag-brand-positioning","8":"tag-brand-sponsors","9":"tag-brand-strategy","10":"tag-corporate-branding","11":"tag-corporate-sponsorship","12":"tag-event-sponsorship","13":"entry"},"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.0 - 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