Saatchi Brings E-Loan to Market

Online Mortgage Broker Concentrates $5 Mil. Effort in 3 Markets
SAN FRANCISCO–Online mortgage broker E-Loan launched its first-ever advertising campaign
last week in Los Angeles, Seattle and San Francisco markets. The effort is being backed by about $5 million in media spending, according to sources.
The campaign, created by Saatchi & Saatchi, San Francisco, includes outdoor, print, TV and interactive executions. The tagline is, “E-Loan. A better way to get a loan.” The work follows a handful of short-lived radio spots that aired recently on select Bay Area stations.
Several radio executions tied to the new campaign break this week in the three target markets, according to Julie Bauer, general manager of Saatchi, San Francisco. Print ads will appear nationally in The Wall Street Journal, she added.
“E-Loan may do its business over the Internet, but the company’s [executives] realize that traditional advertising is really crucial to building their brand,” said Bauer.
The Palo Alto, Calif.-based client is focusing the campaign in Seattle, Los Angeles and San Francisco because of its current success in those markets. Also, Bauer said, the Internet-savvy consumers in those areas display a “willingness” to try out a nontraditional financial service such as E-Loan.
Saatchi’s TV spots emphasize the ease of shopping online for a home mortgage by showing worst-case broker scenarios.
In one spot, a man named Bill pays a visit to his broker’s office. The broker, distracted by the view of a shapely woman bending over a file cabinet drawer, calls him “Joe” and has completely forgotten the specifics of his loan. Looking to make amends, the broker asks, “So, how’s your wife?” “Still dead,” Bill replies.
Another spot shows a woman grilling a young broker about his research methods in securing a rate for her loan. Finally she leaves, disgusted with his unprofessionalism. “Mom! Come back!” he pleads.
All the spots end with a voiceover, “More lenders, lower rates, better service,” followed by the tag.