Case Study for Agency
03-1015020-636

CLIENT: Bank of America (formerly NationsBank)

CHALLENGE:
Bank Of America was seeking to develop an advertising and marketing
campaign targeted to the African-American & Hispanic market to increase
its residential & business customer base throughout its ever-expanding
territory. The agency was contracted as the first Ethnic Marketing
Agency of Record to assist Bank Of America’s advertising and marketing
staff. Specific goals and objectives were forecast to measure the level
of awareness of Bank Of America and its services, perceptions and
motivations of current and prospective customers among the target
population.

PROGRAM:
Market research was first undertaken to gain an understanding of the
market environment, specifically, both residential & commercial
customer needs and current relationships. It was determined that a
two-fold quantitative research study should be undertaken, including a
telephone panel study and a series of focus groups. After a period of
consultation and review, the agency determined the following specific
objectives of the study:

• Product and service needs of customers (current and potential)
• Perceptions and attitudes towards Bank Of America’s competitors
• Level of awareness of products and services
• Current product usage
• Banking habits (how they became a customer and who made the
banking decisions)
• Educational level concerning banking
• Familiarity with Bank Of America brand and products
• Reaction to current and/or proposed advertising and /or
campaigns
• Interest level in promotional incentives (discount cards,
t-shirts, Oops Certificates, flexible checking, etc.)
• Market share by DMA

RESULTS:
The research study evolved into a Strategic Market Program, which was
extremely successful in gaining record customer counts and expanding
African-American market share by eight percent. In Diversity
recruitment efforts, the agency helped to lower the cost per hire by
70% and helped to computerize the employee application process in
banking centers across the national network. The agency developed
several supplier diversity marketing programs to address the bank’s
interest in maximizing business opportunities with minority & women
certified suppliers. The agency also performed public relations and
community outreach programs to maximize positive publicity and brand
awareness.