Attention MySpace! Financial giant Citi still doesn’t want to have anything to do with you. We know other advertisers are gradually coming warming to the idea of ads on user-gen but is this why you missed your targets in July/Aug? Or was that a declining macro economy?
FINANCIAL SERVICES GIANT CITI, WHICH does considerable online advertising, is…a long way from exploring opportunities involving consumer-generated content or social networking sites, despite other blue-chip brands dipping a toe in. While such sites offer a potential avenue to reach young people starting to make financial-management decisions, the company has some concerns about hurting its brand value.
“We’re not there yet, and we’re proceeding very cautiously,” said Lisa Caputo, Citi’s first company-wide CMO, at an industry event last week. She added that allowing consumers access to Citi logos and other materials related to its brand for their own creations could backfire: “I am very loath to put it at risk and let some individual do what they want with it.”