Following its name change and rebranding late last year, Finance of America Reverse (FAR; formerly Urban Financial of America) has launched a new reverse mortgage advertising campaign featuring its updated branding and messaging.
The campaign, titled “It Just Makes Sense,” includes six new national commercials that aim to “cut through the noise” of the reverse mortgage ad landscape. Each commercial has a singular focus, with the overall goal of reinforcing how a reverse mortgage can make sense for many of America’s senior homeowners.
“These commercials are the natural evolution of the reverse mortgage conversation,” says Tom Evans, FAR vice president of marketing. “We’ve spent years educating consumers, but the basic message still sometimes is missed. We wanted to simplify, to get away from the overwhelming barrage of information and talking heads, and just remind people that a reverse mortgage can be an extremely logical choice.”
The ads cover reverse mortgage benefits such as the ability to complete renovations, delay Social Security, prepare for future medical expenses and others, all with the tagline, “It just makes sense.”
The campaign launches Monday on cable and national networks. A forthcoming digital strategy will pair the tv advertisements in order to target prospective borrowers on other media channels.
“Television can be a highly effective way to reach senior consumers, but you have to have a perfect combination of sales, marketing and operations to make it ‘just make sense’ to do so,” Evans says.
The series is a departure from the traditional reverse mortgage advertising model that has relied heavily on celebrity spokesmen, including Urban Financial in its past campaigns. Recently, several lenders have shifted away from the celebrity model, although Danny Glover has emerged as a new spokesman for lead platform USA Reverse.
TV advertising relies on an infrastructure to close loans, FAR’s leadership says.
“For television to work efficiently, you need the right team—passionate sales managers, marketing creativity, forward thinking leadership,” says Sherry Apany, chief sales officer. “All the necessary parts are in place for us to be successful.”
Written by Elizabeth Ecker