Global Growth Requires Fresh Branding Strategy
CHICAGO-Insurance and financial services company Principal Financial Group is contacting Midwest agencies about its $25-30 million account.
Questionnaires were sent out last week, and are due back by the end of the month. Triad Consulting Group, Troy, Mich., is handling the search. A decision is expected this summer.
Triad representative Joe Kelly said the Des Moines, Iowa-based company is looking for a Midwest shop with global branding capabilities.
"The company has gotten to be global, and now they're looking for a branding strategy," Kelly said. The company is looking at agencies in Detroit, Chicago, Kansas City, Mo., St. Louis and other cities, he said.
Incumbent Brown Marketing Communications was invited but declined to pitch, Kelly said. Officials there said they would continue to work with the company through the end of the year.
Principal Financial Group provides a variety of financial services, including pension products, mortgage financing, mutual funds and investment advice. Its flagship unit is Principal Mutual Life Insurance.
Principal's recent ads have revolved around its triangular logo. One TV spot featured acrobats assembling into the shape.
Last year, the company switched to a more informational approach, and introduced a new tagline, "Plan ahead. Get ahead."
Principal spent nearly $24 million on advertising last year, according to Competitive Media Reporting. ƒ