Eight months after revelations of improper sales practices in its Community Bank, Wells Fargo is launching a new integrated marketing campaign focusing on its efforts to build a better bank.
“Our research clearly shows our customers are ready to hear a different message from us, and the ‘Building Better Every Day’ platform behind this advertising came directly from the research results,” said Jamie Moldafsky, chief marketing officer. “In addition to showing our customers how we are building a better bank — fixing things, and making them right — this effort is focused on how we are helping customers achieve their financial goals.”
The integrated marketing effort, which runs from April through October, features television, radio, print, online, mobile, billboard, and ATM advertising; messaging on the company’s internal intranet; and a continued presence here on the Wells Fargo Stories website and social media.
“As we seek to rebuild trust, ‘Building Better Every Day’ connects with the human yearning to make each day a little better than the last, and to continuously improve and make things better than they were before,” Moldafsky said.
The new advertising covers many themes — innovation, guidance, service (financial health), security, and community support. One advertisement, “Bicycle,” focuses on the company’s new card-free ATM technology. Another, “Paint,” spotlights a customer using the company’s My Credit Options Guide® tool to better understand credit options and make a key financial decision.
Moldafsky said the ads have resonated well with multiple test audiences, including Wells Fargo team members who got to preview rough cuts of two of the spots during CEO Tim Sloan’s companywide Town Hall meeting March 21 in Orlando, Florida.
“This platform also gives us an opportunity to acknowledge customer-centric innovations — like our card-free ATMs — as well as other initiatives that demonstrate our efforts toward building a better bank for our customers, our team members, and the communities we serve,” she said.
‘Better’ follows commitment advertising
The campaign’s April 17 national debut follows an open letter from CEO Tim Sloan — which ran in U.S. newspapers in more than 30 major metropolitan areas, and will continue to run in the coming weeks — and the launch of an interactive progress report on the Wells Fargo Stories website. Both were part of a commitment campaign that launched last fall to underscore the company’s actions to make things right.
“Our No. 1 priority is to restore trust in the brand,” said Phil Wang, the marketing manager involved in the campaign’s development. “Since we have lost trust among a broad range of consumers, influencers, and even some of our own team members, we know that people need to hear what we are doing to be better for them, but in a forward-looking way.”
One way Wells Fargo is showcasing its actions is through actor portrayals of team members and their interactions with customers. The company is also exploring ways to engage team members in the campaign.
“Team members are front and center in these spots, and portrayed as helping customers in a way that’s in keeping with our vision and values,” Wang said. Future ads, he added, will focus on new capabilities including Card On/Off for debit card customers and our new P2P payment service.
As with previous Wells Fargo advertisements, Wang said, the campaign acknowledges the diversity of the company’s communities through tailored ads for specific audiences, such as in-language messages in Chinese (Mandarin and Cantonese) and Spanish, and advertising in African American media. One commercial, airing in Spanish, will promote Wells Fargo’s support of the Hispanic Scholarship Fund. These are scheduled to air later in the campaign.
“It has been a long time coming, and we know our team members are just as excited about this new advertising as we are in telling how we’re ‘Building Better Every Day,’ ” Wang said.
See other commercials from the campaign