HSBC. Is it another ad agency you’ve never heard of? Nope. It’s a British bank you’re probably never heard of.
According to The New York Times, HSBC is about to make some noise in noisy New York, by buying out all the ad space in an entire issue of New York Magazine.
Given the recent turmoil in the banking industry, one could see it as a case of bad timing. Is the American public really in the mood for an aggressive marketing pitch from a bank right now?
Or one could consider it kismet: Now more than ever, Americans need to be reassured of their financial security and the stability of their financial institutions. The ads in New York center on the idea that people see things differently depending on their position in life, and that HSBC understands that, making it well-suited to work with all kinds of people in all kinds of financial situations.
The bank will also be the sole advertiser on NYMag.com on Monday and Tuesday of this week, with a “significant share of voice” after that.
The open market rate for HSBC’s media buy comes in at about $1.6 million, although they likely received discounted pricing for buying the whole book.