Citigroup Inc. recently decided to bring back an old advertising slogan first launched in the 70s, "Citi Never Sleeps." Citi hopes that the nostalgic approach will help generate trust and confidence among its target markets during a particularly uncertain economic time. On Friday May 9th, the company will debut its global campaign, which will include television, print, and online advertisements in the United States, Hong Kong, the United Kingdom, and two additional markets.
The campaign is estimated to cost roughly $20 million over the next two months, compared the the $451 million that Citigroup spent last year on their advertising campaign. The campaign is, however, supposed to be part of a cost-cutting effort, which included the reuse of old footage and included music already owned by the company.
Citi decided that the old campaign, which included the slogan "Let's Get it Done." should be dropped since it proved ineffective at helping the company pull out of the financial service industry crisis. The revival of the old campaign appears to be viewed optimistically, since it did receive great success in the late 70s, success that was repeated with occasional uses of the slogan up until 1996.
Although some doubt is cast over the reuse of this campaign slogan, past use doesn't seem to indicate any threats. Market conditions are different now from how they have been in the past, but an old, familiar advertising approach may be what consumers require to make them feel secure in an uncertain market situation. Also,the statement "Citi Never Sleeps" suggests that this company is always looking out for the consumer's best interest-an important message to convey when consumers are feeling uncertain and unsafe.
[Vranica, Suzanne. "Citi Awakens an Old Campaign." The Wall Street Journal. 5 May 2008: B9.]