While the program’s goal is to encourage Wells Fargo’s banking clients to consider investing with the same firm, it is also about getting the investment clients to bank with Wells Fargo, Barbieri said. Those advisors housed in offices outside the branches will also be highlighting the Premier banking options as well.
To promote this program, the firm has been running digital and social media ads throughout 20 of the top designated marketing areas around the country.
Barbieri added that when clients seek guidance from advisors, it provides them with peace of mind, which is something that many sought in the wake of the pandemic. He believes that Premier can provide that peace of mind and help existing clients understand the total spectrum of products Wells Fargo offers.
“We’re really deepening our relationship and it leads to higher revenue per client,” Barbieri said. “This is a way to demonstrate what else Wells can do outside of just banking.”
To push its investment options within the branches, Barbieri said that Wells Fargo is in an active campaign to bring in more advisors. He did not provide a specific number, but said that the firm is actively growing.
While there are firms looking to speak to those investors looking to focus on their financial well-being, Massachusetts Mutual Life Insurance Company (MassMutual) wants to assure its clients about its stability. The Springfield, Mass.-based company’s ad campaign, which launched in June, but ramped up this fall, promotes the message that no matter what takes place in the world, MassMutual is always there for its clients and advisors, according to Jennifer Halloran, head of brand and marketing at MassMutual.
“We really need something that resonates the core pillars of what we do as a company in that way it represents our support to our advisors and distribution network is much the way it represents our support for institutional partners as much as our end consumer,” she said.
Those core pillars include focusing on the customer, acting with integrity, valuing people, working collaboratively, and achieving results. The ads present the message in a unique way as they use imagery more associated with financial services ads and contrast them with the faces of the real people who work at the firm.
MassMutual is running ads on sports networks and digital channels with ads also running on social media platforms. The overall campaign is expected to last 18 to 24 months. It targets mass affluent individuals between 35-65 years old.
Halloran said the Covid-19 pandemic and how investors reacted to it demonstrated to MassMutual why it was essential to push this particular message out now.
“If there was anything that we couldn’t predict, it was a global pandemic and to be there when the truly unexpected happens that was really important to us that we could have the message ... to remind people in a real way that we have to be there,” she said.