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In yet another “no confidence” vote for themuch maligned banner ad, Charles Schwab & Co., San Francisco, confirmed rumors it is scaling back on Web banner buys for its online brokerage service in favor of longer term marketing alliances and sponsorships.
A Schwab spokesman said its decision to re-evaluate banner buys is part of a process for fine-tuning the company’s online spending. “But to say we’re absolutely abandoning the [banner] concept is not true,” he stressed.
Recently, Schwab has been focusing on cutting more exclusive sponsorship deals, ever since signing a 3-year, multi-million dollar pact in March with iVillage to become the exclusive personal finance provider on its Armchair Millionaire site, the spokesman said.
Pamela Saunders, vice president of business development for Schwab’s electronic brokerage division, has told IQ News in the past that the firm is not interested in buying buttons or banners on financial sites that play host to a bevy...
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