Last year, Wells Fargo Home Mortgage ran a multi-million dollar ad campaign targeting Latino, Asian and African American home buyers in California. The campaign, which ended December of last year, included print, TV, radio and outdoor advertising. “As a follow up, people who responded to our media campaign by requesting additional information will receive a series of mailers on home buying,” explains Hillary John, communications consultant on emerging markets at Wells Fargo. John adds that the mail piece is written in Spanish and is informational only (no response is necessary). The mailings are done by an outside direct mail service provider. The expansion was initiated by Wells Fargo's seven year old “Emerging Markets” division, created to target potential customers in ethnic minority and low-income market segments. Other major financial institutions tackling the immigrant market include Citigroup, Bank of America, U.S. Bancorp, Wachovia Corp, HSBC Holdings plc. and Fifth Third Bancorp. U.S. Bancorp sends Spanish language direct mail to prospective clients living near one of 300 targeted branches and then measures account growth at those locations.
Author Editorial Staff @portada_online