American Advisors Group (AAG) has launched a new five-commercial series with today’s airing of “Working Together,” a TV ad that emphasizes the benefits of reverse mortgages and highlights changes made under the Reverse Mortgage Stabilization Act of 2013.
The first commercial began running Monday on major networks including ABC, NBC and CBS.
Though still featuring product spokesman and former Sen. Fred Thompson, AAG’s new commercials take a slightly different stance from those that have aired in the past.
“The new commercials are less about the loan features — keep your home, no monthly mortgage payments — and more about how the loan can improve your retirement,” Teague McGrath, AAG chief marketing officer, told RMD. “From a marketing perspective, I don’t think we need to focus on overcoming skepticism about the product anymore. This is more about the more positive outcome it can produce.”
During the new ad, Sen. Thompson points to the Reverse Mortgage Stabilization Act of 2013 and the resulting ability of the Department of Housing and Urban Development to more closely manage the Federal Housing Administration’s reverse mortgage program, with the aim of improving the fiscal safety and soundness of the program to better protect borrowers.
“The new Reverse Mortgage Stabilization Act makes the reverse mortgage loan program even stronger. … It provides you with greater protection, more flexibility and more confidence in your retirement,” Sen. Thompson says during the minute-long commercial.
In May, AAG launched a two-commercial series, marketing to the adult child and caregiver of the prospective borrower, rather than speaking directly to the borrowers themselves. In the company’s most recent ad campaign, however AAG returns to speaking directly to the core demographic of borrowers, McGrath says.
The company will be testing the next four commercials on various TV stations to determine which message resonates best with prospective borrowers. The following ads will highlight AAG’s market position and the value in working with an industry leader that specializes in reverse mortgages.
Overall, the commercials are meant to “add value and trustworthiness to the product as a whole,” he says.
Written by Emily Study