Suncorp Gives Gio Its Own Advertising Agency
Sydney Morning Herald
Monday November 8, 2004
Banking and insurance group Suncorp Metway has taken the first step to dispel confusion over its two key brands, Suncorp and GIO, by splitting its $60 million creative advertising account between two different agencies.
Following a three-month process that attracted interest from 50 agencies, the Brisbane company has awarded its Suncorp account to Young & Rubicam and its GIO account to Belgiovane Williams McKay. The two accounts had been handled by one agency, the French-owned Euro RSCG.As the company moves out of its Queensland heartland with its insurance, banking and investment products the need to differentiate the Suncorp brand from GIO has become a more pressing issue. Suncorp is Australia's sixth-biggest bank and third-biggest general insurer and in August it reported a 61 per cent surge in 2003-04 profit to $618 million."We have aggressive growth plans for both of these brands," Suncorp Group's executive for marketing, Bernadette Fifield, said.Both agencies will handle direct marketing, advertising and online for their respective brands.Both agencies will be required to work alongside each other when asked, Ms Fifield said."When you are running a house of brands you have to be cognisant of both ... we made it clear to the agencies that when it comes to brand strategy we will use their collective intelligence," she said.BWM owns a direct marketing arm, Spark Brand Communications, and 50 per cent of PR firm, Cox Inall.Y&R, which is 87 per cent owned by London marketing services group, WPP, plans to open an office in Brisbane to run the account and is hiring direct marketing and retail specialists to work on the account.
© 2004 Sydney Morning Herald