Bank of Opportunity, Indeed

Bank of America, which has come out on top (so far) during this financial crisis but now owns two deeply troubled institutions -- Countrywide and Merrill Lynch -- is trying to reassure consumers of its trustworthiness.

"Particularly at this time period are wanting to be really relevant to what's on people's minds," Anne Saunders, a brand and advertising executive for Bank of America, said at the Association of National Advertiser's "Masters of Marketing" conference in Orlando today.

"So we very quickly with terrific agency teams adapted our messaging to try to be more on point," she continued. "We're talking more about F.D.I.C. insurance. It's one of the top phone calls we get. We're talking about the stability that the bank can bring the confidence that people can have in trusting their money to us. We did try to change our message."

But the bank's marketers are careful not to stray far from the core message of opportunity, emphasized Claire Huang, head of marketing for global wealth and investment management at the bank. "However we want to be very cognizant of the fact that people want two things right now. They want safety and security," she said. "We're pushing guarantee, the word guarantee."

In fact, an ad coming out next says just that. The bank, which uses "Bank of Opportunity" as its slogan, will launch an ad next week aimed at retirement savers that will promote F.D.I.C.-insured C.D.'s with a guaranteed rate of return.

In her videotape presentation, Chief Marketing Officer Anne Finucane noted that advertising was still only one part of Bank of America's marketing plan. Another is community development, focused on the bank's 2004 pledge to make $750 billion available for affordable housing, small businesses, economic development, and consumer loans over 10 years.

Uh, $750 billion? Big number. Sounds familiar.

"It plays very nicely by coincidence," says Huang.

by Willow Duttge

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