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A New Type of Luxury

Airline magazines have long been the preserve of luxury brands with glossy ads showcasing expensive cars, indestructible watches, shimmering jewellery and exotic travel destinations.

However, it is interesting to note that financial services groups are muscling in on the action in greater numbers.

This month’s Qantas magazine for instance is a case in point – nestled among the artful images of luxury cars, perfumes and jewellery that would collectively amount to more than the GDP of some small Pacific Island nations are a series of financial services advertisements.

OK, so the number of ads is not huge – four in fact – in a 203 page magazine of luxury brand indulgence and extravagance, with ads from Genesys Wealth Advisers, NAB, Perpetual and a business selling CFD (contracts for difference).

The ads differ from the others in the magazine as they are not selling a clearly identifiable and tangible product, such as a watch or a diamond studded necklace.

Instead the financial services ads relate to opportunities readers may be missing out on such as future wealth, super opportunities and the benefits of CFDs (contracts for difference).

The four groups involved are Genesys Wealth Advisers, National Australia Bank, Perpetual Investments and IG Markets.

Genesys’ message is clear, simple and bold – focussing on a single big idea ‘Does Your Future Have a Future?”

Meanwhile NAB and Perpetual have long copy ads seeking to inform and educate wealthy punters about the tax-effective benefits of taking advantage of the Government’s one-off superannuation bonanza.

IG Markets is simply announcing the rapid rise in popularity of CFDs for leveraging investments.

Perpetual has the boldest ad – a double page spread with an insert for readers to send in to register for a no-obligation seminar on retirement, while NAB has opted for a two pronged attack strategy by running ads on the in-flight TV to compliment the magazine advertising.

The TV ad sees Peter Switzer, economist and commentator (and to be honest business publisher at large), employ his usual laconic style to conduct a mock interview of a NAB exec against a NAB red background.

For the many international travellers flicking through the Qantas magazine as they attempt to work out whether they’d like to watch Mr. Bean or Mr. Bond the variety of luxury brands that they see in the magazine are available at their destination and from where they departed.

Unfortunately for many financial services firms, the products and services they offer are only of benefit to people living in Australia.

Meanwhile for domestic travellers, perhaps the people in the advertising business have worked out that the only people flying Qantas these days are people rich enough or in senior enough roles to not have to worry too much about price in the face of cut price airlines Jetstar and Virgin Blue?

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April 14th, 2007 Posted in Advice & Wealth Management, Banking & Finance, Consumer Finance, Government

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