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Hispanic CMO, presented by López Negrete Communications 2017 Edition
HISPANIC CMO FIRSTTHOUGHTTM
TOTAL COMMITMENT TO MULTICULTURAL MARKETING It’s rare that a company, in the age of “total market” approaches and tactics and planning and (in many instances) cost-cutting, assigns two individuals to handle Hispanic market creative, strategy and execution. Yet, that’s just what has made Wells Fargo & Company stand out from the pack with respect to its multicultural advertising, promotional efforts and grass-roots efforts within the communities in which it seeks to win.
By Adam R Jacobson
In June 2012, Wells Fargo Bank took a bold step on a pathway that had already been noted across the industry for its many landmarks. From acclaimed TV spots targeting Asian consumers showcased at that year’s Asian Advertising Federation (AAF) annual conference in Las Vegas to Hispanic marketing efforts that ranged from grass-roots outreach to full-blown omnichannel initiatives, Wells Fargo was certainly on track to build its client base through “the New American Mainstream.”
Then Michael Lacorazza came on board. A 2016 Hispanic Thought Leader nominee, Lacorazza has emerged as a multicultural marketing leader who has gained a powerful voice as an industry- wide champion of targeted and segmented messaging in a “total market” universe. In an interview with Hispanic CMO, the EVP and Head of Integrated Marketing shared how Wells Fargo continues to demonstrate a high level of understanding and cultural sensitivity through efforts that consistently target all — on a micro and macro level.
HISPANIC CMO: Five years ago, we were very impressed with the level of work Wells Fargo Bank had executed for Vietnamese and Mandarin-speaking consumers. You continue to excel in the U.S. Hispanic market. In a total market environment, how has your team
been able to thrive in meeting your ROI goals and objectives?
MICHAEL LACORAZZA: The first thing is for our company to understand that, for multicultural audiences, there are many different types of compositions that are critical to our current growth — and our future growth. If we are not relevant to these audiences, not only in our communications but in our customer experiences, we’re going to miss out on that growth, and they will go somewhere else.