FCB Lends Services to Oinke.com




Auction Site for Business Financing Has $23 Mil. to Spend on Ads
LOS ANGELES–FCB Worldwide has picked up the $23 million advertising account of Oinke.com, an auction Web site that specializes in procuring financing for midsized businesses.
The service matches companies seeking growth capital or financing for commercial real estate purchases and development with lenders who then bid for the client. Oinke tapped FCB, Costa Mesa, Calif., following a review that also included finalists Nine Dots Corp., Irvine, Calif., and USWeb/CKS, San Francisco.
“We were looking for an agency that could support us nationally and internationally and had a background in financial services products and dot.coms,” explained client svp of marketing Rick Tysdal.
FCB’s ability to handle a broad spectrum of work without farming out assignments–and turn it around quickly–also gave the agency the edge, Tysdal said.
“A lot of [agencies] are tending toward virtual companies,” he said. “That didn’t seem appropriate for the speed at which we need to move.”
The company has already been running print ads, produced by a local design group, in Southern California in The Wall Street Journal and other business publications.
Tysdal said a campaign aimed at driving traffic will likely break in 10 states in May before rolling out nationally 60-90 days after that.
“One of the first big issues will be to change the behavior of borrowers, and lenders as well,” said FCB vice president, management supervisor Bill Barrick, who is heading up the account. “America has begun to adopt e-commerce, but on smaller purchases. Now we’re talking about actually beginning a loan process involving millions of dollars. The stakes are much bigger.”
FCB’s campaign will hit radio, magazines and newspapers and include a direct mail and online component as well.
“We’re going after the privately held middle market,” Barrick said. “There are some folks that compete in the small-business area, but we’re targeting companies in the $500,000 to $500 million area.”
Oinke, based in Irvine, Calif., and so-named by chairman/CEO Tom Markel’s 7-year-old son for the money it saves clients (as in a piggy bank), went live last month. Its competition in the commercial real estate lending arena includes companies such as Red Bricks and Loop Lender. K