The nation’s second largest bank chain is moving its ad cash out of regional cable and direct mail and into primetime TV, magazines, newspapers, outdoor and online, the Wall Street Journal says.
With a new ad campaign kicking off during Sunday’s Academy Awards on ABC, Bank of America kicks off its first strategically significant new ad campaign since 2003, according to a story today in the Wall Street Journal’s Marketplace section.
The story, by Valerie Bauerlein and Brian Steinberg, says the bank has become a national player since its acquisition of Fleet Bank gave it a presence in the Northeast. Its new ad campaign, created by Omnicon Group, sports a new tagline, “Bank of Opportunity,” replacing the old tagline, “Higher Standards.”
Media plan includes primetime TV, magazine, newspaper, billboards and online advertising. The company will spend far less on direct mail credit card solicitations, according to the story, because it sells cards through its bank branches.
Back in 2003, BOA was a regional player, serving 24 million households, and national advertising didn’t make sense, the story says. Now it serves 55 million households, is the nation’s biggest credit card issuer and ranks second among banking companies, behind Citigroup.
WSJ Online subscribers may read the full story here.