1 minute read
Proving That it Pays to Advertise Building and Loan Associations
By Jach Dionne
It is worthy of note that during the year 1926 the greatest percentage of growth made by the building and loan associations oi the country were shown in the states of California and Texas.
In this connection everyone.interested i: the building and loan movement, and its development and future success, will be interested in a specific effort-probably the first of itskind ever attempted since building an:l loan first appeared-to create building and loan business by advertising.
The building and loan associations of Southern California conducted a cooperative advertising campaign in 1926 to see what could be done to create business in their line. They took their story to the people, and they got wonderful results. This is particularly true because in the past the building and loan movement has been individual rather than cooperative, whereas the best interests of all concerned would be well served by more cooperation.
All the associations in Southern California did not enter the campaign, by any means. Only 38 per cent of them did. They used newspaper space, bill boards, and direct mail.
The results are plain. During the six mcnths period when this advertising was in progress, there was a gain of 33 per cent in the increase of assets by ALL the associations in California, as compared withthe preceding six months gain. In Southern California the associations showed an increase of 46 per cent over the increase shown in the previous six months, and in Los Angeles proper, where most of the advertising was done, the increase over the increase of the previous six months was 89 per cent.
Los Angeles, advertising her building and loan associations, shorved an increase of 89 per cent as compared with the 33 per cent in:rease of the entire state.
And thousands of home builders profited by that advertising, as well. This looks like one of the best testimonials to the efficiercy of advertising that the building business has produced, and might well be emulated in other territories.
