Bank of America Merrill Edge: Face retirement
Category: Financial Products & Services
Brand/client: Bank of America Merrill Edge / Bank of America Merrill Edge
Lead agency: Starcom MediaVest Group
State of the marketplace & brand's business
Merrill Edge entered the online investing market in 2010 and faced a steep uphill battle. Despite being a Bank of America brand, they were an unknown player in a highly competitive and mature market. After two years, Merrill Edge had gained little traction and started 2012 with disappointingly low awareness.
As 2012 entered the third quarter, aided awareness of Merrill Edge still showed no positive movement. In a pack of six competitors, Merrill Edge ranked sixth in both total media spend and awareness, with its largest competitor, TD Ameritrade, outspending Merrill Edge by more than five times.