American financial brand integration
when American Financial Announces intention to acquire then-industry leader American Consulting Group (AAG), the reverse mortgage industry initially reacted with cautious optimism. AAG has long been a leader, not just in sales but in messaging to the industry through its hiring of celebrity spokesperson Tom Selleck.
While this year has also been challenging for the current industry leaders, one way for the combined entity to move forward is to consolidate its two core brands – American financial reverse (FAR) and AAG – part of a single American financial group.
“Americans are changing the way they think about and plan for retirement right before our eyes,” said Chris Moschner, chief marketing officer of FOA. “Today, more and more of our clients are finding that their savings simply are not enough to maintain their quality of life as they age. A unified American Financial brand means we can take a more active and active role in the broader retirement conversation.” The role of concentration and show how home equity can positively impact people’s lives.
Reverse mortgage industry players have explained in the past that AAG’s marketing arm has been a huge boon to the industry, even if originators or other professionals don’t have direct ties to the company.
Kristen Sieffert, who became president of FOA after the acquisition, previously explained house lineThe Reverse Mortgage Daily (RMD) said these marketing assets, along with Selleck’s services, were an important part of the acquisition. FOA is interested in taking over the baton from AAG.
“Our primary goal is education — to help make reversal mortgages and our full suite of home equity solutions an important part of the retirement conversation and ultimately an option for more American homeowners,” Moschner said.
NAF: Telling new stories with the “old woman”
Novelty is also a valuable tool when it comes to introducing new reverse mortgage prospects, which is new america funding (NAF) is trying to launch a new initiative called “Old Women.”
There’s a lot to be said for the effectiveness of marketing campaigns and approaches that work over the long term, but there’s also value in trying to find novel ways to expand understanding of a product category.
Kevin Thomson, corporate vice president and executive creative director of the event, sought to find a way to create a new connection with the “old lady.”
“After talking to the NAF reverse team and studying the marketing environment, it became clear that we needed to make some adjustments,” Thomson told RMD in May. “We wanted to speak to the audience in a fresh and unique way, while also echoing their own perspectives on aging.”
He said myths and biases about reverse mortgage products are common. The idea of delving into “old wives’ tales” helped provide a starting point for further development of the campaign.
The campaign also leverages data showing that single women frequently explore the product category. Taking this approach shows that reverse mortgages can be a tool for empowering single women, which is one of the reasons the campaign took this form.
“As for the future of the event, I hope it expands beyond social and into new media,” Thomson said.
On the one hand, the activity has expanded into new media by employing generative artificial intelligence in the creation of visual materials.
Later stages of the campaign are planned to take the form of advice from real “old ladies” who can talk more about their own experiences with the product in retirement. But Shannon Robinson, head of reverse mortgage lending at NAF, previously explained that the company wanted to be the first to launch the concept as envisioned by the creative team.
“This is the first campaign we’ve done that’s entirely powered by artificial intelligence,” Robinson said. “[The team] The next step is to bring them to life in short videos that we have already tested, which will be the next release for the summer. You start to see these women talking about this issue and having some fun with these concepts.
