Banks needs to get creative in order to reach unique customers in different ways.
The new opportunities presented by a plethora of different marketing channels mean brands need to generate more messaging in more formats and more combinations than ever before.
That is according to the man who spends advertising money for Bank Of America.
In this video interview with Beet.TV, Lou Paskalis, Bank Of America’s Senior Vice President, Customer Engagement and Media Investment, says: “Creative has never been more important than it is today. We need a lot of what I would call ‘core stock’ of really good creative experiences – not just ads, but also content and, frankly, even utilities; things that help people … calculate or to understand what their options are.
“I think the net production of creative over the next several years from agencies and also from in-house as well, is going to increase dramatically. I think the average asset will get exposed to less people because there’ll be more total assets out there.”
Paskalis also speaks about dynamic creative optimization (DCO), the technology which allows advertisers to take raw ingredients of advertisements and mix them in to different versions for different platforms and different audiences.
He suggests Bank of America is keen on harnessing the DCO opportunity, and is making steady progress on exploiting.
“We’re hoping to give folks an experience that makes them say, ‘Wow, the bank really understands me’,” Paskalis says. “It’s a real gas/oil mix of data science and intuition, but we’re learning our way forward and we’re really excited about the progress we’ve made.”
This video is part of the Beet.TV series title the Road to CES 2020, a preview of the topics expected to be explored in Las Vegas in January. The series is presented by Samsung Ads. For more videos please visit this page.
