The campaign will see revenue generated from the TV ad split three ways between TotallyMoney.com’s media agency Squadron, the broadcaster airing the spots and – unusually for a revenue share deal – the advertising agency, Creature.
Revenue share deals are often undertaken by smaller companies or brands testing TV for the first time – as in the case of TotallyMoney.com – to mitigate the risk of the high advertising rates TV demands.
TotallyMoney.com will measure uplift from the TV campaign compared with a base line before it airs today (29 August) to ascertain the revenue generated by the ads.
Will Becker, CEO and co-founder of TotallyMoney.com, told Marketing Week: “Comparison sites are a huge [advertising] category but nearly all of them focus on car insurance. We are in the credit card space and that market has surprisingly low penetration. Only a tiny proportion of people take out new credit cards each year compared with insurance, which has a natural annual renewal cycle, where nearly 40 per cent switch each year.
“The difficulty we have with credit cards is it is more complicated to switch but the amounts people can save are really big. [Only about 2 per cent of people] change credit cards each year, but if we add a couple of percentage to that proportion of people switching cards we are talking about a £40m to £50m industry – and we believe it could be much bigger.”
TotallyMoney.com is the second biggest credit card comparison site, behind MoneySupermarket, and it hopes the campaign – which will also be supported by a PR programme – will help it take the top spot.
The ad features two animated brand characters, Turtley and Monkey, on a mission to find the perfect credit card. Turtley represents consumers looking to save interest with 0 per cent balance transfers, while Monkey represents those who pay off their balances each month.