Providian Corporation Names J. Walter Thompson as Advertising Agency for Brand-Building Program

Strategic Insights -

Providian Corporation, a leading provider of consumer financial services, has announced its selection of J. Walter Thompson as its advertising agency for a brand-building program aimed at increasing consumer awareness for its insurance, credit, and annuity businesses. This move is a strategic step for the company, which has been focusing its marketing efforts on low to middle-income families and individuals since changing its name and focus last year. The program is expected to be a key initiative in establishing the Providian brand in the financial services category.

Key Takeaways:

  • Providian Corporation has selected J. Walter Thompson as its advertising agency for a brand-building program, with initial annualized billings of $7 million.
  • The program is aimed at increasing consumer awareness for Providian's insurance, credit, and annuity businesses.
  • The agency search was conducted over the past five months, with 12 agencies contacted during the process.
  • J. Walter Thompson, a part of the WPP Group, has worldwide billings of $6 billion.
  • Providian Corporation has $23.6 billion in assets and offers various financial services and products primarily through agents, direct-marketing media, and investment professionals.
  • The J. Walter Thompson team will work to build the Providian brand in the financial services category, leveraging its expertise in advertising and marketing.

Statistics:

  • Initial annualized billings: $7 million
  • Number of agencies contacted during the search: 12
  • Worldwide billings of J. Walter Thompson: $6 billion
  • Assets of Providian Corporation: $23.6 billion
  • Number of agencies contacted during the search: 12

Sources:

  • PRNewswire
  • Providian Corporation press release (April 5, 1995)
  • J. Walter Thompson's website
  • WPP Group's website

Providian Corporation's annual reports and press releases