Unforgettable Vanity 800 Number Helps Radio Ads Pay Off for Investment Advisor

1-800-NEW-WEALTH

Background: In July 2002, a registered California investment advisor decided to test radio advertising to promote his personalized investment management service. He contacted the local radio station and heard about easy-to-remember vanity 800 numbers and 800response from their ad rep.

Client: Michael Morera, Owner • Southern CA

Challenge: The vanity 800 number had to work hard to make his company stand out from the “tons” of competition in the business – everything from wire and discount brokerage houses to over 10,000 independent brokers.

Strategy: With the help of their radio advertising representative and 800response, Morera chose 1-800-NEW-WEALTH and began a regular schedule of drive-time spots .

Results: Morera reports, “I’ve seen an absolute increase from the combination of the vanity number and the radio ads – my sales have definitely increased by 30-50% since I started the campaign.

“When my rep at the radio station told me about vanity 800 numbers, I really liked the idea of an easily remembered number, especially since most of them are already taken. No one can remember a regular number, and they’re obviously not going to be able to write it down while they’re driving! My customers tell me that they heard my ads a few times that day on the radio and called the 1-800-NEW-WEALTH number when they got home.”

Morera was especially impressed by the prestige he gained from using a vanity 800 number, pointing to the “…tons of competition in this business, from the wire houses like Dean Witter to the discount houses like Charles Schwab to the thousands of money managers - essentially I’m competing against over 10,000 brokers.” He explains that the 1-800-NEW-WEALTH number gives credibility to his niche business.

One benefit that surprised Morera was the ability of his vanity 800 number to build his brand. As he tells us, “Here in southern California, people are very brand-conscious. This 1-800-NEW-WEALTH number is the brand to my business. If I had my choice, I would have named my business ‘New Wealth...’ In fact, when people call me, they ask if they’ve reached New Wealth Investors.”