Print ads, which are appearing in print and online on Postmedia properties, feature attention-getting headlines like “It’s so hot when she’s on top of her bills,” “I’m so glad he pulled out of debt in time” and “Will it hurt the first time I check my credit score?”
Mogo is aiming to speak to millennials in a way a traditional bank wouldn’t be able to, said director of marketing Stephanie Leakey.
“We launched these ads about thoughts that millennials would have and related it to personal finance,” she said. “We’re excited about creating that conversation in a really edgy, relevant way.”
Leakey said so far, the ads have been met with both positive and negative feedback. The company’s response to those who think the ads are offensive is: “We actually think the big bank CEO salaries, that are millions of dollars a year, is kind of offensive,” said Leakey.
The print ads are part of a collaboration with Postmedia that was announced in January. The deal gives Mogo $50 million in media space over three years across Postmedia’s print, online and mobile platforms, while Postmedia gets a share of Mogo’s revenue and equity participation.
Leakey said the deal “enables Mogo to have this massive reach across Canada,” and includes advertising, content marketing and access to events. For instance, in February, Mogo sponsored the 2016 Maxim All-Star party in Toronto, which was hosted by Shaquille O’Neal and featured a performance by Snoop Dogg.
Mogo also holds events of its own. Last year, it launched a cross-Canada financial education series called “Adulting 101.” The events, which are hosted by Mogo’s “financial fitness coach,” Chantel Chapman, blend wine tasting and conversations about finance.
“It gives financial education to our millennial subset in a way that they can relate to,” said Leakey. “We really want to do things that are different, un-bank-like and do it in a way that’s fun.”