How Sponsoring NASCAR Gave this Mortgage Company a Restart On Relevance
An interview with CMO of Ditech Financial on how an unlikely sponsorship changed everything
I think we can all agree that cutting through is hard these days. There are more brands than ever vying for our attention across a myriad of platforms and channels. Consumers have become extremely adept at tuning out all these messages, time-shifting to avoid TV ads and using ad blockers to avoid their digital brethren. So what’s a marketer to do, especially one wanting to reach a truly mass audience?
This was the conundrum facing Rich Smith when he took the reins as CMO at Ditech Financial in 2014. Without going into all the gory details, Ditech became a household name in the mortgage business in the 90’s, got acquired by GMAC in 1999, was merged and submerged over the next 14 years and then re-emerged as a standalone entity in 2014. Given this circuitous history, it was important to Rich that the brand regain lost ground quickly, capitalizing on any familiarity with the name while adding on a new sense of energy. To do this, Ditech turned to NASCAR, an effort that worked remarkably well as you will see in our interview below.