Wells Fargo boosted by multicultural strength [loyalty of consumers]


Wells Fargo, the financial services provider, has found that multicultural consumers have remained more supportive of its brand than the general market following a testing period for the company.

Nydia Sahagún, Well’s Fargo’s svp/segment marketing, discussed this subject at the Association of National Advertisers’ (ANA) 2018 Masters of Marketing Week.

And she reported that consumer perceptions among the multicultural audience proved to be robust even as Wells Fargo has dealt with various issues and controversies.

These include opening bank accounts without customers’ knowledge, illegally repossessing the cars of service members, wrongly fining thousands of mortgage holders, and charging some clients for auto insurance they did not need.

“What I would tell you is that, in the wake of this brand crisis, we’ve actually seen far less impact with multicultural consumers than we have with the general population,” said Sahagún. (For more, read WARC’s in-depth report: Wells Fargo draws on multicultural strength in brand recovery.)

And the company believes this resilience can be tracked back to its long-term efforts to build bonds with multicultural consumers. “What we attribute that to is really our commitment to diversity,” she added.

Its marketing initiatives range from making native-language ads in Mandarin, Cantonese and Spanish right through to championing the LGBTQ community and people with disabilities.

Beyond communications, Wells Fargo has developed several practical initiatives, too, as shown by its financial support for the American Indian/Alaska Native Communities, and pledging funds to boost Hispanic home ownership.

“Our view of [engaging] diverse and multicultural consumers is that it’s not a nice to have; it’s actually a business imperative,” Sahagún said.

“And it’s been built into the fabric of who we are for a long time. So, we have many segments that we have dedicated resources [against] that we support, we cultivate, and grow. And not all of them are cultural segments.

“But they’re important – and strategically important – to the organisation.”

Source: Wells Fargo boosted by multicultural strength

Clinton e-mails reveal Canadian foreign service enmity towards Harper Tories – The Globe and Mail

Not unique to the newly-renamed Global Affairs but nevertheless particularly striking and reinforces the Conservative government’s suspicion of public servants, particularly the foreign affairs and aid public servants.

And this strikes me as disloyalty to the former government, not in keeping with the public service ‘loyal implementation’ obligation:

The U.S. special co-ordinator for Haiti said Canadians were worried about budget cuts that would have slashed down an operation from 11 employees to four, for a country that was ostensibly a major Canadian foreign policy priority.

“I was a little astonished at how openly the career folks at the foreign and assistance ministries disliked their new political masters and wanted us to convince them not to cut Haiti,” said Tom Adams, in a May 2012 e-mail forwarded to Clinton and released Monday.

“In my many years here I have never seen such open disloyalty with a change of administrations. Although the political appointees told me there was no need to have the Secretary talk to Baird about Haiti, the senior career folks, on the margins, implored me to have this done.”

The dynamic described in that e-mail was on public display recently after the federal election, when employees at the foreign ministry cheered during a visit from their new Liberal bosses.

Clinton replied that she was happy to call her counterpart John Baird, if necessary. The presidential contender’s e-mails are now being released in instalments, after an uproar over her use of a private home-based server that couldn’t be searched for freedom of information requests.

Source: Clinton e-mails reveal Canadian foreign service enmity towards Harper Tories – The Globe and Mail