June 27, 2018 By TheNewYorkNews
Classical sculpture visual art as Marketing Innovation: The Fearless Girl ADV campaign.
She arrived in the middle of the night, seemingly out of thin air, installed opposite the Charging Bull in the Wall Street, for their client, financial advising company State Street Global Advisors (SSGA): the best 2017 marketing innovation.
Her arrival was quiet but calculated. The following day—International Women’s Day—millions would know her as the Fearless Girl. Key to the campaign’s success, both the company and the agency agree, is keeping the lines of communication open. The name, for instance, wasn’t finalised until three days before the statue was unveiled.
The Fearless Girl statue quickly went viral online, garnering over 1 billion Twitter impressions in the first 12 hours, and eventually reaching 4.6 billion Twitter impressions and more than 215,000 Instagram posts over 12 weeks. A petition signed by more than 40,000 people demanded that Fearless Girl stay put, opposite the Charging Bull, through 2018. A hell of a marketing innovation.
Fearless Girl Stole the World’s Heart, and all the World’s free advertising.
The fact that Fearless Girl was created on “a shoestring budget” with no paid media behind it made it even more of a marketing marvel, said SSGA senior managing director and CMO Stephen Tisdalle.
The effort reportedly generated $7.4 million in free marketing for the company across TV, social and radio, per Apex Marketing.
Some sources place the marketing budget for Fearless Girl around $250,000, although SSGA would not confirm.
The Fearless Girl statue quickly went viral, garnering over 1 billion Twitter impressions in the first 12 hours.
According to the company, her purpose was not necessarily to become a worldwide icon but to promote the one-year anniversary of the company’s SHE Fund, which invests only in companies that have women in top leadership positions. So did the company reach its marketing innovation goal of putting more women in C-suites?
A deep dive into the iconic statue and the company it was created for.
Following the debut of Fearless Girl, Tisdalle declared:
“We reached out proactively to companies we invest in that do not have women on their boards to actually get them to understand that there is greater performance to be gained [by having women in leadership roles],”.
Of those 476 companies, 76 actively worked to promote women. SSGA voted against reelecting the board chairs of 400 companies.
The campaign that went viral and garnered four grand prix awards at Cannes and a total of 18 Cannes Lions
Fearless Girl’s marketing innovation, had a huge impact on the company’s SHE Fund, with daily trading volume growing by 384% in the three days after the statue debuted and 170% over the next 20 business days.
The campaign continues to have resonance: a petition signed by 40,000 people called for Fearless Girl to stay put opposite the Charging Bull for long past the initially planned month. More than a year after the statue’s debut, reports indicate that SSGA is working with New York’s mayor’s office with the intention of keeping the statue in New York permanently.
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Pictures by: courtesy of each gallery/public domain