| Industry: | Financial Services
| Client:
| Bank of America is one of the world's largest financial institutions, serving individual consumers, small and middle market businesses, and large corporations with a full range of banking, investing, asset management, and other financial and risk-management products and services.
| Challenge:
| Bank of America was entering the New England market with the acquisition of Fleet. Bank officials feared that the publicity surrounding the merger would have a negative effect on long-standing business lending relationships, so they wanted to emphasize that the same level of service would continue after the merger.
| Intervention:
| The Wellesley Hills Group consultant: - Interviewed a number of the businesses that were long-term customers to completely understand their concerns regarding this merger
- Discovered the overriding concern of these businesses was maintaining the valued relationship they enjoyed with their loan officer
To assure Bank of America's business customers that their relationships with their loan officers would not be disrupted by the merger, the Wellesley Hills Group consultant: - Used the theme of "great partnerships" to project a positive image of the merger
- Emphasized both the Bank of America/Fleet relationship and the business/loan officer relationship
- Created personalized campaign materials focusing on partnership, implying superior attention and service, including:
- Print advertisements
- Direct mail
- E-marketing material
- Ensured that the partnership theme was emphasized throughout all communications, including sales calls to key accounts by loan officers, effectively extending the communications platform on a highly personalized level
| | Result: | Loan activity did not just hold steady, but increased 24% immediately following the campaign.
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