Charlotte, NC - Bank of America
recently launched its first major series of ethnic advertising campaigns
that are aimed at communicating the Bank of American brand promise: to
make banking work in ways it never has before.
While the underlying message
is the same in both the general market and multi-cultural campaigns, the
content of the ads is tailored specifically for African American, Asian
and Hispanic markets. The ads for the Asian and Hispanic markets are in
their native languages, including Vietnamese, Korean, Chinese and Spanish.
"Instead of simply reproducing
or translating our general ads, we worked with our ethnic advertising agencies
to develop material that would address the unique characteristics and financial
needs of each market," said Barbara Desoer, director of Marketing for Bank
of American.
UniWorld Group, Inc., the
bank's African American advertising agency, created print and radio ads
that emphasize the bank's customer-centered approach, reflecting the commitment
of Bank of America associates to fully understand their customers' financial
status and to help them find the most suitable solutions to their financial
needs.
The agency uses several humorous
vignettes to spotlight this commitment, including one that reflects how
Bank of America threats its customers as individuals who have different
needs and opportunities, regardless of their similarities.
Kang & Lee, the bank's
Asian ad agency, created television and print ads that dispel the common
notion that banks generally offer their customers products that are in
the institution's own best interest rather than the customer's best interest.
Bank of America believes that banks should adapt to customers rather then
the other way around.
This belief is supported
by the bank's commitment to ask the right questions and help customers
find the right answers to ensure they receive the products that fit their
needs perfectly. Several Asian television and print ads illustrate this
concept by using "feng shui," an Asian philosophy of living in harmony
with one's environment, most notably in the home.
Lopez Negrete, the bank's
Hispanic ad agency, created in-language advertisements for television,
print and radio that demonstrate how Bank of America aims to make sure
that its customers are aligned with the right services, and are using the
bank products that are most advantageous to them.
By using a straightforward,
humorous approach, the campaign focuses on the recognition that customers
have different financial needs and opportunities. Therefore, Bank of America
associates take the time necessary to listen and ask questions, and offer
solutions to fit individual lifestyles.
In addition to multi-cultural
advertisements, Bank of America provides in-language materials and services,
including bank associates who speak Mandarin, Cantonese, Vietnamese, Korean
and Spanish. Also, the bank sponsors cultural activities and offers special
promotions around important multi-cultural holidays, including Black History
Month and Lunar New Year.
Bank of America, with $633
billion in assets, is the largest bank in the United States. It has full-service
operations in 21 states and the District of Columbia and provides financial
products and services to 30 million households and two million businesses,
as well as providing international corporate financial services for business
transactions in 190 countries. The company's stock (ticker: BAC) is listed
on the New York, Pacific and London stock exchanges and certain shares
are listed on the Tokyo Stock Exchange.