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Hispanic CMO, presented by López Negrete Communications 2017 Edition There will always be measurement challenges. You don’t always have the same types of
syndicated tools, for a lot of reasons, and we supplement that data on our own.
We don’t wait for the industry to figure it out for us. If we’re not there, we are going to lose out.
HISPANIC CMO: Through SVP/Head of Integrated Marketing—Deposit Products, Digital Services and Innovation Mariel Ure and SVP/Head of Diverse Segments Nydia Sagahun, you have two very senior executives working on multicultural efforts. This is unusual, but also very encouraging. What can others glean from your internal structure on how multicultural and total market efforts go hand-in-hand?
ML: The biggest lesson that we’ve learned is that in many companies, when you talk about multicultural or total market activities, the natural tendency is to just place marketing and communication as a subset of your total marketing communication. You’ll hear, “Take this team and specialize in multicultural.” It could be segment-specific, or it could be more inspired than that.
I always thought we could move faster and move with greater impact if we could assemble the right group of thinkers as we could with decision-makers.
—MICHAEL LACORAZZA – Wells Fargo Bank
The thing that really differentiates the things we’ve done is that we don’t view it as purely a marketing communications function. This is probably the most important thing we do, and we understand that the role of influence we have is based on how the insights allow us to know about the audiences we work with, and then translate this into a positive customer service experience.
Mariela led the company to make the business case to create our Wells Fargo mobile app in Spanish. There wasn’t necessarily a business case, but she made one as to how important this was. Everybody got behind it. Examples like this have led us to capture a greater share of the Hispanic market. It also demonstrates that if you deliver something in an authentic way, it can be very powerful.
HISPANIC CMO: We wanted to take a moment to congratulate you on serving as Chair of the Alliance for Inclusive and Multicultural Marketing (AIMM). The marketplace is enthused at the notion of gathering members of the ecosystem to address key issues in the multicultural and inclusive space.
ML: I said yes before I even knew what I had signed up for!
HISPANIC CMO: Why? Is there something that inspired you to take such a leading role in this industry-leading initiative?