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Wells Fargo
The Problem.
Founded in 1852, Wells Fargo is the 3rd largest bank in the United States, employing nearly 270k individuals and with the largest branch network of over 5k branches in the US.
However, they are struggling to connect with Gen Z and how to best engage with them.
The Ask.
Wells Fargo tasked in8 studio with developing a branding campaign that will help Wells Fargo define the relationship of the future with Gen Z by exploring what Gen Z consumers define as the essential tenets of a ‘relationship’ with their bank.
Business Objective
Despite its long standing value, Wells Fargo struggles to find ways to connect authentically with Gen Z who now view the brand as outdated. In order to begin building a lasting relationship with this generation, Wells Fargo needs to accentuate its pioneering spirit to connect with a generation of pioneers.
Current POV
In 1852, Wells Fargo founders—Henry Wells and William G. Fargo—built an innovative start-up to help customers develop businesses and manage money in a rapidly changing world.
"From our stagecoach days, innovation has always been part of our DNA” - Steve Ellis
"For generations, we’ve been helping people go further. From exchanging gold coins for paper checks to designing online transactions, we’re continually innovating so our customers can get ahead."
That value remains strong today.
Mediating The Challenge
While Wells Fargo tend to not want to focus on this legacy and history, we believe that to begin building a lasting relationship, Wells Fargo needs to accentuate its pioneering spirit and identify the segment of gen z this will most resonate with.
Target Audience
Meet Gen Z aka "Zoomers"
The older subset of Gen Z between 19 and 25
A GENERATION OF PIONEERS
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Most diverse generation in the US (20.4%)
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Calculated Risk Takers
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Hustle Culture Shapers
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Tech-natives
Living where things move at the speed of their lives
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17% urban and suburban living
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Web2 part-time living
SEAMLESSLY INTEGRATING BRANDS INTO THEIR LIFESTYLE
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Personalization and relationships
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Socially conscious
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Authentic ads
Taking money matters into their own hands
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Economy Conversationalists
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Financial Democratizers
Spring 2022 Survey
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Personalized Aid– 53% need an app to track their expenses to improve their finances. 44% would like personalized support from financial associates.
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Ubiquitous Access– 80% use a bank app at least three times a week. 68% want banks to have social media presence; 25% approve of influencers.
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Human Approach– 53% visit a branch at least 1-2 times a month and feel empowered by organizations that support their goals and values.
Focus Group
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LOLA, 20 "People who are like me probably have similar experiences to me. I think that’s a very good way of knowing your consumers"
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EMMA, 23 "Frequently, we get automatic responses, but I would rather have real human interaction with my bank instead."
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ANDREW, 25 "Banks are too serious. Make it more relatable to what people’s needs are. Not everyone is checking in with banking news or money news."
Key Findings
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"Future" in banking isn't all about technology. It's about helping folks now to enable them to live the lifestyle they want later.
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Gen Zers don’t want banks to lead conversations, they want banks to be part of them. Participate authentically in relevant conversations that benefit consumers in different life stages.
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Building trust is subjective. Representation, security, familiarity, transparency, and personalization are vital in building trust.
Situational Analysis
Competitors
Traditional Banks
Neobanks
Insight
Zoomers want more than a bank. They want a catalyst that empowers them to keep moving.
Message
Wells Fargo is everywhere Zoomers are. And Anywhere They Can Imagine.
Campaign
Campaign Objective
The campaign will focus primarily on positioning Wells Fargo as a lifestyle essential for Gen Zer’s while leveraging its diverse range of products and offerings as the secondary message.
Creative
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Campaign Hub
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We can only go far if we have a planet to take us anywhere.
Earned Media
The Measures Of Success.
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My Team.
About Me
So… are we compatible? :)