From a practical marketing standpoint, Argent's sponsorship of Indy Racing League driver Danica Patrick and pro golfer Jim Furyk don't appear to make sense, said Michael Perry, chief executive of IndyMac Bancorp, a Pasadena thrift and mortgage bank that makes prime and sub-prime loans. Argent doesn't deal directly with the public; instead it makes loans exclusively through mortgage brokers.
"Mortgage brokers aren't going to be directing any customers to Argent because they saw Jim Furyk in a magazine," Perry said.
In a statement, Argent said its research showed "targeted" sports marketing was an effective way to reach brokers.
Some of Ameriquest's awareness advertising indirectly courts the sub-prime market by suggesting that the company is more understanding of apparent problems than others may be.
The ads that debuted during this year's Super Bowl (in which Ameriquest sponsored Paul McCartney at halftime) fit in that category. "Don't judge too quickly," the tagline for the ads said. "We won't."
The current television and Internet promotions of the Rolling Stones don't mention Ameriquest's sub-prime status. Morefield said the intent of the Stones sponsorship was to familiarize the band's core fans -- now middle-aged, many of them homeowners -- with the company, so they will respond to direct-mail pitches.
"What we want the brand advertising to do is to raise the awareness of the company generally," he said. "The 'open rate' goes sky high when you put the Stones logo on the envelope."
