Wednesday, September 3, 2008

The invisible power

Source Type: Advertisement

Have you ever had such an experience: the urge to succumb to a person whom you do not know? Think about it again. Now, think simple and look around at the varied of things you posses, or those that you are about to own. What is that mysterious driving force which lures us to part with our wealth? It is a simple yet overlooked word: Language. Specifically, it is the power of persuasive rhetoric.

It is amazing to discover how reputable banks employ the different modes of persuasion to sway their audiences. As private sectors, they are facing competition among their counterparts in the same industry. It is interesting to note how these three banks use three different ways differentiate their product and also to move the hearts of their potential customers.

Try analyzing this 1st bank: Citibank

The usage of bold and curvilinear title “Lavish Indulgences”, accompanied with the silky-textured backdrop, it encourages the reader to feed their wants. The words at the side of the article read as follows. “Haute Couture. Pre-a-porter. Vogue styles. These are but the lovely makings of an episode of luxurious shopping. Indulge in a minute. Or revel for hours. It is after all a lavish indulgence that only measures up to your fine stature. This is Paragon’s Luxury Shopping Weekend- exclusive to you, our privileged card members.” By the use of emotionally-evoking words, or pathos, Citibank encourages the affluent, or those who wants to appear wealthy, to buy in their argument.

What do you think about this 2nd bank: HSBC

Clearly in the newspaper advertisement above, HSBC shows us the pressing issue of rising prices that we are currently facing. “Prices are on the rise, fast. Which unfortunately also causes your wealth to erode. When the cost of living goes up, the value of your money falls. Here’s an example- in the inflation rate stays at 5% every year, a million-dollar nest egg would be worth less than $359,000 in 20 years. While you can’t prevent prices from rising, you can protect your wealth from dwindling with strategic investments that can help you to outsmart the effects of inflation.” The logical approach, or logos, is HSBC bank’s strategic approach. Logos has the cognitive effect of making the source look prepared and knowledgeable to the audience. Indeed, the time value of money concepts indicates that if the bank’s interest rate is lesser than the inflation rate, we are losing money every year. Thus, it is proposing a solution to customers who base their decisions on logical thinking.

The 3rd approach by: UBS

True enough, when customers decide to entrust their wealth to an entity, they are looking for credibility, also known as ethos. “What can you be sure in times like this?” starts of as UBS bank’s persuasion. As it continues, it uses words like “we remain committed and focused” to ensure the customers about its “knowledge and experience”. It also further assures their clients about the “certainties of its relationships with our clients” and the fact that their “commitment is unwavering”. In doing so, UBS is imposing goodwill of its image towards the audience. Moreover, the use of an image of a typical financial advisor enhances the willingness of UBS to patiently develop enduring and long lasting relationship with its valuable clients.

On retrospect, which is the best approach? Clearly, the credibility of a bank does not solely depend on their ability to convince audience through a piece of advertisement. There are many factors that an informed client should consider. For example, if a bank was involved in a financial scandal, even the best persuasive language remains futile.

On a side note, have you ever wondered who the influential founder of the three persuasive techniques was? He is one of our ancient Greek philosophers, Aristotle. Speaking about psychic power, don’t you think Aristotle has it too?

12 comments:

Kenneth said...

Hey! Wouldnt the second ad posses some Ethos as well? It's appealing to the sensibilities of a person who understands inflation and therefore will goad him/her into investing with the bank?

Unknown said...

I always feel that advertisment is very powerful as they can persuade one to feel the need of a want.
Your analysis has proven it to be so true by the different approaches that these banks adopted.

冯老师 said...

Good choice of examples, it clearly depicts the different type of approaches in persuasive rhetoric. But I do agree with Kenneth (his point of seeing trails of Ethos in second ad.) not all advertisments have such clear cut approach, more often than not its a combination of various approaches.

On a personal note, I like the logos approach. Perhaps I'm more into practicality, pose me a problem, sell me a feasible solution and I'll probably take it.

linda said...

You have interesting thoughts and insightful analysis of advertisements all around us. Good choice of sources as they have the same aim but adopt a diverse range of persuasion techniques. The interjection of background knowledge about Aristotle at the end added flavor to the piece.

Kenneth said...

I LOVE your article so heres one more thing for you... Rhetoric is the art of persuasion.. so Persuasive rhetoric is like saying... Persuasive persuasion(?) Anyway.. You are right... Rhetoric, as defined by Aristotle, is the faculty of knowing at any time the available means of persuasion. It is truly a powerful tool that can be used for good, or for bad, like in the case of the Sophists... which I will leave as another story for another day!

Simon said...

The analogy of persuasive rhetoric used in the case of bank ads was very insightful. I particularly liked how the three modes of persuasive rhetoric were examined specifically in each of the cases.

In the first analysis concerning Citibank, the use of pathos to capture the readers’ attention is apparent in the sentences which were highlighted from the ad by the author. The phrases used such as, “Haute Couture”, “lavish indulgence”, and “Paragon’s Luxury Shopping Weekend” all help to paint an impressive picture in the readers’ minds. Furthermore, words such as “fine stature” and “privileged” all seek to flatter the reader, particularly the ones that fall into this exclusive group of Citibank card members. In doing so, one of the probable motives of the ad would also have been to appeal to non-members to sign up with the bank by leveraging on one’s desires to enjoy the benefits of the privileged members.

HSBC on the other hand employed the logos approach and captivates the readers with a question that hits home for all, or at least most Singaporeans with the opening line, “Is Inflation Growing Faster than Your Wealth?” In addition to that, the ad also includes facts about inflation and an example to show just how a 5% inflation rate compounded over 20 years could diminish savings by more than 50% during that time. Readers who are influenced by logical reasoning and statistical facts would probably give this ad a second look. Sound reasoning and statistics give the proof needed to substantiate HSBC’s proposal in offering strategic investments to help safeguard their clients’ wealth against inflation.

For the case of UBS, the ethos projected in the ad gives the reader the impression that the bank sincerely values their clients. Ethos is effective here also because of UBS’s reputation as a world renowned financial institution. From the heading, “You & Us. The times are uncertain, the relationship isn’t”, to phrases like, “committed and focused”, and “knowledge and experience”, the way in which the ad was written helps to convey the bank’s values which improves the ethos, as mentioned by the author. This thereby makes the ad seem more trustworthy.

In answer to the question about which is the best approach, I believe that there is no single best approach to suit all scenarios. As what “footprints” pointed out, a combination of two or more of the modes of persuasive rhetoric would probably be more effective in persuading the audience or reader. For example, referring to the HSBC ad which Kenneth and footprints have considered to have used both ethos and logos, justifying the need for strategic investments by providing a simple Math on the effects of inflation on savings, would probably not be enough to win the readers over immediately. The bank’s ethos also plays a part in the ad, due to its good worldwide reputation that people have come to know and trust. From a personal viewpoint, the use of captivating backgrounds in ads should not be underestimated as well. All three ads used appropriate images which brought out the respective messages clearly, such as the use of stylish fonts amidst a silky backdrop as mentioned by the author in the Citibank ad. This added a sort of personal touch associated with pathos and matches well with the theme of shopping in The Paragon.

I also agree with the author on the last point that clients should not base their decisions on ads alone. Even after considering the credibility of the banks, an informed client would still probably need to do the necessary research or consult with experts to make an informed decision. Occasionally, not everything that is written on ads should be taken for granted.

yond :) said...

Hmm, what psychic power do you think Aristotle has?

Anyway, I believe that the best approach for banks would be the use of Logos. Afterall, finances are the key factor and people use their heads to deal with money. It might be less effective to use Ethos because it is subjective to each individual. Ethos would be better appealed to if the message was spread through word of mouth. More so when people have learnt not to believe everything they see or hear from advertisements. It may entice, but it may not necessarily convince.

june said...

Well chosen examples of diverse approaches advertisements. I believe the targeted audience would be the main key for the bank to design or choose the advertisement that they want to present. Advertisement has its influential power but different group of people will have different view on the same ad.
I agree with the author that there are many factors to be considered on a bank’s credibility, not by advertisement alone. On the other hand, advertisement is an investment in commercial world.

Chan said...

I felt that whenever i see such advertising, i am unknowingly a victim/prey of them. Words are indeed powerful. They either make u feel good or it can totally crush u.

Uma said...

The power of persuasion is so very evident in the 3 banking advertisments. I like the fact that you have posted good and relevant examples for each communication tool: ethos, pathos and logos. I feel that the words, pictures and colours used in the ads are definitely going to appeal to various types of people depending on what they look out for and feel is important to them when they think about making investments with the banks.

Kaixiang said...

Thank you for heightening readers' awareness of the different styles employed by advertisers. Indeed now I begin to see advertisements I come across in a different light, trying to decipher who they want to reach out to & how they are trying to do it. Great article! Seems to me that the target clients the banks are trying to appeal / reach out to are slightly different. With regards to the different approach, I think "pathos" approach is a more customer-oriented approach, giving clients a sense of importance & an insight as to how their banks view them: not just another client with spare cash to invest in their bank. It gives the impression that the bank knows their customer profile really well. Whereas the "ethos" approach is more product-oriented, the advertisement seems to say ‘Don’t worry pal, we will take care of your money!’. Definitely a good point to make from a bank. The “logos” approach is certainly mind stimulating, makes me want to invest my money in a bank BUT does not make me definitely want to invest in that bank. Therefore I feel, personally purely from an advertising point of view, the bank might lose out. But I agree with you when you say that 'clearly, the credibility of a bank does not solely depend on their ability to convince audience through a piece of advertisement'. In fact I have a good feeling that advertisements can highlight the existence of a bank but really most people will go the extra mile before choosing one. The bank with good track records, has a wide audience appeal combined with personal experience coupled with the opinions of others who used their service do make a significant amount of difference. Add in a well-though out advertisement & we have a winner!

yakking said...

Sure!

Advertising really does increase viewers' awareness of their own products. Well, I feel that the effectiveness of an advertisement is very subjective. It really depends on which group of audience they are addressing to. Hence, by applying a specific strategy to attract a certain consumer group, I'm sure that they will be successful in attracting many customers to buy their argument.

It's all about Advert-Consumer fit!=)