akasha solis | brand strategist
Wells Fargo
A diversified, community-based financial services company founded in 1852, Wells Fargo is the third largest bank in the United States. Wells Fargo's vision is to satisfy their customers' financial needs while also helping them succeed financially.
What was this project?
Develop a campaign to increase Wells Fargo's brand awareness and engage with their desired audience, Gen Z, through shared values.
Wells Fargo is a natural innovator, ahead of its time. Provided ATMs, 24/7 banking services, and made banking more convenient and accessible for their customers before their competitors.
Rebuild brand trust and loyalty and develop that relationship with their customers.
Business Objective
Expand the number of products used
by Gen Z, while aiming to increase the % of wallet share Wells Fargo has with each individual. Build on the lifetime value of each new Gen Z relationship.
Communications Objective
Develop a branding campaign to help Wells Fargo define the relationship of the future with GenZ as their primary bank.
Wells Fargo was a challenge but also a chance for growth as an agency.
I applied my three principles in these ways when thinking of my media planning.
Establish and then resonate with the values of the individual.
Celebrate the inclusivity Gen Z naturally embodies.
Create an authentic community between Wells Fargo and Gen Z.
What does Gen Z care about?
Gen Z has five major values
Higher Education
Civic Engagement
Racial Equity
The Environment
Economic Security
This informed my...
Three Consumer Personas
Alex (they/them)
Cause: LGBTQIA Issues
Role Model: Marsha P. Johnson
Education Level: B.S. Psychology,Undergrad
Financial Habits: Overwhelmed with student loan debt
Media Habits:
Brands They Love: SavageXFenty and Patagonia
Zion (he/him)
Passions: Racial equity, became extremely active in BLM movement over the pandemic
Role Model: Chi Ossé
Edu Level: Freshman in high school
Financial Habits: Learned finances from fintech savvy and is savings towards buying a Tesla
Media Habits:
Brands: Lendtable, Pyer Moss, Essentials by Fear of God
Sheila (she/her)
Passions: Climate change. During COVID she started a bamboo straw business
Role Model: Winona LaDuke
Edu Level: Environmental Engineering (undergrad)
Financial Habits: Has a debit card but feels clueless when it comes to banking
Media Habits:
Brands: Thrift stores, Farmacy Skincare
Gen Z is the most diverse generation to exist
they prioritize personable and authentic interactions, and heavily detest pitchy and transactional engagements.
not only that,
they also prioritize others.
They see others as a community they want to advocate and grow with.
Media Habits
We know Gen Z's preferred brands, what about where they spend their time digitally?
70%
of Instagram users are between 12-24+.
Published by Statista Research Department, and Mar 28.
63%
of TikTok users are 13-24.
62%
of Gen Z use YouTube daily.
Winslow, G. (2022, March 3).
66%
of smartphone users take some type of action after seeing an OOH ad.
An unlikely pair: Gen Z and Dooh. Adomni. (2021, October 19).
90%
of Gen Z experiences online is through Google Search. Key terms, "best" "cheapest" "how to".
Impact SEO has on Gen S, millennials, + more: SEO services. Zero Gravity Marketing. (2021, May 10).
84%
of Gen Z feel that technology has a direct impact on how they approach financial management
Winslow, G. (2022, March 3).
61%
of Gen Zers choose to enroll into the same bank as their parents.
Source:
How Do Fintechs Engage Millennials and Gen Z?” Onfido, 1 Feb. 2022
56%
of Gen Z and Millennials report they intentionally seek out financial advice online or through social media, usually from a stranger.
Source:
Gen Z Turns to TikTok and Instagram for Financial Advice and Actually Takes It, Study Finds.” Credit Karma, 13 July 2021.
52%
Gen-Z respondents who seek financial advice go directly to TikTok or Instagram to gain this knowledge.
Gen Z's Financial Habits and Digital Experiences
Sources:
Narula, Svati Kirsten. “What Generation Z Wants from Financial Technology.”
The Wall Street Journal, Dow Jones & Company, 25 Jan. 2022.
Let's get back to my three principles. I have...
Established the needs and resonated with the values of the Gen Z individual.
Through my consumer personas we've seen the inclusivity Gen Z embodies, and how they want that reflected in the brands they choose.
How about the focus on growing our community?
This is where our insight came into play.
Culturally Driven Insight
Banks can truly alter the future.
Our Campaign Message
With Wells Fargo, you can change the world.
The Campaign:
Gen Z wants their money to mean more than just being transactional. They crave purposeful engagements with their money. With the right brand supporting them they can create real change.
Our campaign was brought to life.
#WeDareYou
Strategically placed in commuter heavy areas of NYC, DC, LA, Texas. Messaging and imagery showing Gen Z partaking in causes they're passionate about, with the help and collaboration of Wells Fargo.
Our DOOH and OOH will run from Q2 - Q3. We will switch copy and locations throughout NYC, DC, LA, and Texas to increase awareness and consistency with campaign objectives.
DOOH, OOH in targeted areas where Wells Fargo has an existing customer base + increasing awareness and brand recognition in NYC.
PR partnership with LEGO and paid influencers to moderate and participate in challenge. As internal communications challenge rolls out, Gen Z's challenge is as well gaining traffic and engagement through PESO.
Promoted through owned channels, highlighted on Wells Fargo mobile app, Wells Fargo Splashpage, Wells Fargo landing page.
Product integration tied to media objectives. We want Gen Z to feel a CTA to scan the QR codes on DOOH, leading them to Wells Fargo's Splashpage.
91%
of Gen Z use their smart phone everyday.
39%
of Gen Z want to see QR codes used more in DOOH.
Source:
QR codes, Gen Z and the future of OOH. Netimperative. (2021, October 4).
Reach Gen Z at a high frequency; weekly targeting where they are interacting and engaging with content based on finances.
Media Objectives
Drive organic + high-quality traffic to WF's owned media channels.
Establish brand trust + rebuild reputation through the innovations highlighted in our campaign challenge.
Bring awareness to Wells Fargo's brand value and boost engagement with Gen Z.
Media Strategies
Dedicate PR + media mix to communicate WF’s current innovations to the next generation.
Creating a digital + social channels hybrid to increase visibility and brand awareness.
Maximize engagement for on social media through a mix of marketing outputs encouraging Gen Z to visit and participate in challenges.
Utilize social, search engines, newsletters, blogs, referrals. Paid, owned, and earned media, influencers, display ads, organic search.
Calendar Highlights
Q1 Internal Comms Roll Out.
Launch Q2 on Earth Day + Creators Day.
Q3 Experiential + Interactive.
Q4 Internal Comms + Winner Implementation.
Continued earned media from our Gen Z partners and WF employees.
Cause-based campaign calendar.
Amplify Wells Fargo’s brand presence during these crucial progressive times. Wells Fargo should continuously engage with Gen Z on micro-events and holidays that support causes they care about.
Check out our media budget.
Total Media Budget: $62,848,901
Prioritizing digital and social for our campaign.
Measurements of Success
This is more than just a transaction. Collaborating through new and innovative ways is the best way to create an authentic connection with Gen Z.
We strive to drive brand engagement, build on Wells Fargo’s existing brand loyalty, and create new and meaningful relationships with Gen Z.
We want Wells Fargo to be the bank that Gen Z grows with.
KPIs
416,127,700,000
total impressions across digital + social
The Result?
We established potential partnerships as well as reputable influencers that Wells Fargo can collaborate with in the future. Through these influencers and partnerships with Twitch, Discord, and LEGO we expect tons of earned media. After all, we are in a digital age where Gen Z loves to share content.
We met our audience exactly where they're at, prioritizing digital and social. We cut the rest of the unnecessary spending out and generated more authentic and meaningful engagement on a weekly basis for Wells Fargo.
The goal was to increase product, but when you turn a bank into a brand you create meaningful relationships.