Break: Capital One bankers can officially take a joke. Or at least can its marketing department? Despite recent news that influencers who post on Wall Street for a living sometimes make more money than their memes, Capital One’s latest card ad is dripping with influencer promos.
- On Thursday, Capital One launched a travel rewards credit card called Venture X with help from “travel-loving and adventure-hungry storytellers like Becca Tobin, Cody Rigsby, Shiona Turini, Cameran Eubanks,” Lauren Liss, vice -Chairman and CEO of Capital One, said in an emailed statement to Marketing Brew.
- Liss added that Capital One sent influencers to “Destination X” in Santa Fe, New Mexico, which is essentially a creator’s playground with many “grammable photo opp”.
The bank partnered with the MullenLowe agency for the project, and each designer was paid for their work.
Not just Capital One
These creators have to find that money somewhere, and it’s not just Capital One that is making it.
For example, the marketing division of fintech firm Current is “split into four teams: performance marketing, brand, communications and influencer,” according to an eMarketer report from July 2021. “The latter is still unusual among incumbent banks. , but these are holdings in other neobanks and certain financial institutions such as the Navy Federal Credit Union (NFCU), ”the report continued.—PB