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Mortgage Broker News | 10 Nov 2010, 11:19 AM Agree 0
Dominion Lending Centres began airing its $2-million Don Cherry TV commercials on Saturday October 30 during NHL hockey games in six Canadian markets.
  • Marg Pick | 12 Nov 2010, 02:50 AM Agree 0
    Love the ad!! Love Don Cherry!!
  • Vic | 12 Nov 2010, 06:10 AM Agree 0
    Perhaps CAAMP will take note to advertise the benefits of a broker instead of the bank. With or without AMP.
  • Jerry | 12 Nov 2010, 06:31 AM Agree 0
    2 Million dollars for that ad, Hope someone has deep pockets thats a lot of deals to pay for that.
  • Gary Mauris | 12 Nov 2010, 01:42 PM Agree 0
    Dear Jerry,
    If that singular ad cost 2 million, i would be shocked too, lol! Below,i have cut and pasted a post that i made at www.canadianmortgagetrends.com and it shares the overall costs and reasoning for running the Don Cherry Campaign. Also, the majority of the spend amount is for the actual airtime on Hockey Night In Canada, Sportsnet, CBC, CTV and Global News.

    Canada is a hockey crazy nation and its viewers represent the coveted family demographic in Canada.The very same demographic Tim Hortons, McDonalds, Scotia Bank and Canadian Tire are targeting via their hockey focused marketing campaigns that are currently running. To set the record straight, this is a multi year deal, with almost 10 million dollars being spent on marketing over this period. The feedback has been amazing and the consumer awareness of our brand is the key driver of this campaign. We are not competing with the other mortgage companies in Canada over our share of the 28% of consumers that currently use mortgage professionals. We are targeting our share of the other 70% of the Canadian public that doesn't know what we do.

    I understand competitors all have their own ideas of what our core message should be, or whether or not this is a sensible use of our marketing dollars.

    I am proud to be the first company to put substantial resources behind educating the consumer about what we do, and only hope that all other organizations believe in their industry like Dominion Lending Centres does, and will follow suit.

    Every industry in the world is dominated by a single lead brand and a challenger brand. These two brands typically represent 90% of the available market-share and all other competitors fight for the remaining 10%. The lead brands in Canada in the mortgage space are the banks and the challenger brand will be Dominion Lending Centres. Some examples of other lead/challenger brands are Coke/Pepsi, Tim Hortons/Starbucks, Rogers/Bell, Ford/GM, Remax/Royal Lepage,Honda/Toyota, and many others.

    Now I know many competitors will respond with arguments and opinions of this posting but if you have a sincere, valuable suggestion back it up by posting your first and last name. I welcome all feedback and appreciate your comments.I can be reached personally at 604.939-8777 or via email to gary@dominionlending.ca

    Gary Mauris
    President-Dominion Lending Centres
  • Jeff Francis | 08 Dec 2010, 04:00 AM Agree 0
    I think these ad's will pay for themselves 10x over and will set Dominion Lending apart from all other mortgage companies.
    I am sure some of the bitterness is do to ones own failures. I know that I am FOR SURE going to take advantage of DON CHERRY'S hiring. I also think the ad ROCKS and is beautiful to the eyes and ears and will attract the interest of many Canadians. THANKS DLC.
  • John | 10 Dec 2010, 07:00 AM Agree 0
    I have to say that when I was told that the "big announcement" was that Don Cherry was to be our spokesman I thought "what the hell does Don Cherry know about mortgages" What a colossal waste of our advertising fund. Then the ad comes out and Cherry admits he knows nothing about mortgages!! Go figure!

    Since this started I have been approached by a number of people asking if I met Don personally, or comments to the effect "you are part of Don Cherry's mortgage company"

    Hey, the ads are working. Me wrong, Gary right. Gonna get a couple of life size posters of Cherry for the office and the local hockey rink.
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