Rockets and UWM skip Super Bowl as more financial institutions focus on sports marketing

Advertisements that appear during the Super Bowl can generate as many headlines as the game itself, but this Monday morning, mortgage companies like Rocket clever advertising Make the most of your post-game recap.

That's not surprising given market trends. Megalender and rival UWM Garth Graham, senior partner at Stratmore Group, said he is on the bench this year.

of A reported $7 million price tag According to marketing veterans, a 30-second ad is equivalent to the entire marketing budget of an independent mortgage bank that generates up to $3 billion in loan volume annually.

“There are only 30 companies that have the marketing budget to handle $7 million in advertising,” Graham said of the industry.

The few IMBs that have advertised during past Super Bowls don't seem to be stopping. sports marketing, but they haven't stepped up their efforts either. Their absence from Sunday's game in Las Vegas, which will likely draw more than 100 million television viewers, comes during one of the most difficult times. Buy a house in recent years.

Sports marketing is a long-term engagement with consumers, as opposed to a direct response strategy, Graham said. Direct Response If your campaign consists of emails, letters, and phone calls drawn from organic or purchased leads, it's possible for a sports fan to buy a mortgage within a year of seeing your ad. The sex is not that high.

Mr Graham added that during peak periods, such as the mortgage boom, a quarter of the population could be interested in a mortgage, but currently that proportion is probably closer to one in 10 consumers. . He suggested that IMB is marketing based on market cyclicality and that sports will not be a priority until around the fourth quarter.

United Wholesale Mortgage, which has run two Super Bowl ads in recent years, did not provide a specific reason for not airing the spot this Sunday. However, the lender said it is open to appearing in another Super Bowl commercial in the future.

“We've never considered exiting,” Sara DeCiantis, UWM's chief marketing officer, said of the company's sports marketing strategy. “Regardless of what's happening in the mortgage market, the sentiment that unites fan-loving teams and the brands associated with those teams is [is important]. ”

The wholesale industry leader maintains multi-year sponsorships with the NHL's Red Wings and NBA's Pistons in Detroit. The company does not have a formal partnership with the Phoenix Suns, Chairman and CEO Matt Ishbia said. bought last yearHowever, DeCiantis said UWM is open to such a partnership.

The Rocket Company counts its sponsorship of PGA Tour events and Cleveland Arena as bona fide sports marketing, but it offered a more comprehensive reason for pulling out of this year's NFL title game.Chief Marketing Officer Jonathan Mildenhall spoke to Ad Age last month. The company does not “work to define the brand's strategic ideas, and ultimately the brand's creative ideas.”

Rocket's past ads include: Notable celebritiesguaranteed rate In the 2021 Super Bowl ad. Famous athletes also appear. Mary Scott, an associate professor at Montclair State University and former president of global integrated communications at the agency United Entertainment Group, said production costs are a consideration for the Super Bowl, in addition to this year's $7 million production budget. said that it would be added.

“So where else are we going to run this ad?” Scott said. “How do we promote it leading up to the Super Bowl? What do we do after the Super Bowl? I mean, it's a big undertaking.”

Neither Rocket nor Guaranteed Rates responded to requests for comment. No other mortgage lender has hinted at teasing national Super Bowl ads this year.

Real estate will never be completely shut out of the big game. IBuyer Opendoor says it will. Live streaming for Atlanta-based home sellers Perform a virtual valuation of the property during advertising. It's unclear whether homeowners will receive offers on their properties on TV. The person in charge did not respond to further questions.

Handouts/Open Door

Industry leader Co-star meanwhile, Three Super Bowl commercials aired Homes.com real estate portal. Meanwhile, military financier USAA is airing a number of spots featuring former NFL star Rob Gronkowski. Scott said sporting events are the last “destination TV” events and the Super Bowl remains a huge opportunity.

“Some companies might say, 'Well, that might be the bulk of my marketing budget, but it's worth it because I believe I can get such a huge reach and impact from this one event.' ” she said. she said. “It’s not just the greats anymore, and I think that’s great.”