Wells Fargo wanted to define a relationship of the future between Wells Fargo and Gen Zers. For Wells Fargo, its legacy was out of the future equation. But the more we listened to its past, the more we learned that its pioneering spirit was its brand identity that it needs to embrace.
To data
Traditional banks are a necessity—not cool enough to brag about but good enough to trust your savings in. Neobanks are filling the gaps to walk away from being a necessity and make banking a seamlessly cool experience.
To consumers
Zoomers, a generation of pioneers, are hustle culture-shapers with diverse and conscious minds, democratizing finances and taking important matters into their own hands while living part-time on the Webs2.
But who are these “generation pioneers“?
Generation Pioneers
•Living where things are moving to the speed of their lives •Taking money matters into their own hands •Seamlessly integrating brands into their lifestyles.
Selected sources: Mintel | Statista | The Financial Brand | Digital Content Next |eMarketer
Engaging
The questions
-What are your expectations from a bank? -What’s important for you when building a relationship with a bank? -What influences trust when building a relationship with a bank?
What do you expect from your current bank? Personalized aid—53% of Zoomers need a bank that offers a functioning app to track their expenses effectively to improve their finances, along with fully committed bank associates to support their choices.
What’s important for you when building a relationship with a bank? Ubiquitous access— 80% of Zoomers access their bank apps at least 3 times a week and need banks to have a social media presence.
What influences trust when building a relationship with a bank? Human approach—53% of Gen Zers visit a branch at least once a month and feel empowered by brands that support their values. Also, 25% approve of influencers as an intermediary to influence that relationship.
in8 Spring 2022 Survey: Building Financial Relationships
Decoding
Key findings
“Future” in banking isn’t all about technology. It’s about helping folks now to enable them to live the lifestyle they want later.
Key findings
Banks shouldn’t lead conversations, but be part of them by authentically participating in relevant conversations that benefit consumers in different life stages
Key findings
Building trust is subjective. Representation, security, familiarity, transparency, and personalization are vital in building trust.
Insight: Zoomers want more than a bank. They want a catalyst that empowers them to keep moving.
Responding
Strategic Message: Wells Fargo is anywhere Zoomers are. And anywhere they can imagine.
Experiential •20% participation •120k + reach on social •10k+ follower increase Public Relations •4k+ ticket sales •50M+ impressions on social •5+ Media Outreach
Online •5% + in main site traffic •17%+ account opening inquiry
Work by: Project Manager: Karrah Goldberg Lead Strategist: Amy Perez Lead PR Strategist: Oyinda Amu Lead Art Director: Jack Yu PR Planner: Miriam Prever Strategic Planner: Eqbal Anwari Comms Planner: Ayanna Camara Art Director: Juan J Ortiz