Money.net Plans First Ad CampaignMoney.net, an online financial content and services site, is planning to launch its first advertising campaign to acquire new customers in about three months, CEO Harold Van Arnem said yesterday.
The New York company, which offers financial planning information and other financial services, is in the process of selecting an agency for the direct response and branding campaign, which will involve print, radio and outdoor components. The privately owned company will spend $4 million to $5 million on the effort, Van Arnem said.
The company primarily has been acquiring customers through affiliate partnerships with about 80 sites and through viral marketing. The site has been signing up new members at the rate of approximately 2,000 per day, about 25 percent of whom join via referrals by other customers. Money.net includes a "tell a friend" button on its real-time stock ticker that customers can use to refer others to the site.
The site, launched in October of last year, offers such services as credit card rate comparisons, online bill payment, insurance services and financial planning advice. It also offers news feeds with sports and entertainment updates.