B of A Tries to Soften Its Tough Image

Bank of America launched a $60-million-plus advertising campaign Monday aimed at softening its image as a bureaucratic institution.

In a series of television and print ads beginning this week, Bank of America, long-maligned by its competitors as insensitive, highlights moments when consumers need financial advice, such as marriage or the birth of a child.

“Did you get married today?” asks one TV spot depicting newlyweds. “How can we help with the next 50 years?”

Rather than pitch specific investment products, 15-second, black-and-white commercials provide toll-free numbers for consumers to call for more information.

The bank said the new campaign from Deutsch Inc. of Santa Monica is more focused on consumers as individuals than previous ads around the slogan “Banking on America.”

The former campaign was created by Ketchum Advertising of San Francisco.

“We need to demonstrate we understand what is going on in people’s lives and show we have the desire to help at a time when people are pretty confused,” said Marnie Delaney, Bank of America senior vice president and director of advertising.

The campaign is intended to distinguish B of A from other large banks.

Deutsch said its research showed that Bank of America does not have a clear image with consumers, despite its considerable market presence.

“They viewed it as big,” said Cheryl Greene, a managing partner at Deutsch.

“All big banks do the same thing, and there is nothing really that distinguished it.”

As part of the campaign, Bank of America employees are being asked to view an 11-minute videotape that encourages them to see customers as individuals and to understand their needs--in order to pitch them investment products. The tape seems aimed in part at breaking down stereotypes.

At one point in the videotape, a recent college graduate suggests bank tellers don’t view her as an individual.

As she speaks, words appear on the screen: “Her youthful looks hinder her quest for financial planning services.”

Another customer in the tape said he is viewed as a “black man” and a businessman but not as an entrepreneur bent on building a global business.

“We want our employees to think about customers not just as numbers in front of you but as people who have just gotten married, or as people who have had experiences employees can identify with,” said Delaney, when asked about the tape.

Bank of America’s retail competitors have thrived taking a swipe at the bank’s impersonal image.

Glendale Federal Bank said checking account deposits increased 54% for the fiscal year that ended last June 30.

According to Glendale Federal, 60% of the new accounts came from Wells Fargo and Bank of America.