Standard Life is talking to agencies about the possibility of calling a
full review of its advertising business.
The Edinburgh-based insurance company is contacting agencies for
credentials documents at this stage and a full strategic rethink could
be on the cards. Standard Life has done no brand advertising since
October 1995.
The full-service account, with Faulds Advertising, is under scrutiny
because of growing competition in the insurance market. It bills just
over pounds 1 million, according to Register-MEAL, but has been backed
by an annual spend of up to pounds 3 million in the past.
Observers say Standard Life would have to increase its spend to former
levels to compete with rivals such as the Prudential, Scottish Widows
and Legal and General.
Pamela Hodge, Standard Life’s advertising executive, said: ‘We’re
talking to agencies that we admire and getting a feel for what’s out
there. We may go to pitch but, if we do, it won’t be until early next
year.’
Faulds launched Standard Life’s last major campaign in 1992, using
vignettes of colourful characters to show that no-one has a ‘standard’
life, but everyone needs financial help.
Using the soundtrack of Black’s hit single, Wonderful Life, one TV
commercial showed a Hell’s Angel cradling a baby.
No-one at Faulds was available for comment.
