Washington Mutual Targets New York Latinos.

La Agencia de Orcí & Asociados will launch the first Spanish-language advertising campaign for Washington Mutual Inc. in the greater New York metropolitan area. The campaign introduces Washington Mutual’s first retail banking operations in New York, which were established through the acquisition of Dime Bancorp Inc. this past January.

La Agencia de Orcí’s campaign, which launches simultaneously with the general market campaign, resonates Washington Mutual’s corporate positioning inviting people to enjoy a different kind of banking experience or the un-bank-like bank. The ads promote “Truly Free Checking” through the tag line “Come and Live the Difference,” while the general market tag line reads “Another Small Revolution in Banking.”

La Agencia de Orcí conducted research, including multiple focus groups, and found that New York Latinos in general do not know that they are being charged fees for many services and they believe that “there’s nothing free in NY.” The research also found that New York Latinos feel that there is nothing that makes one bank stand out from the others, yet they want good service and are looking for a bank to differentiate itself from the others. Based on such insight, La Agencia de Orcí’s campaign reflects the New York consumer and the relationship they will have with Washington Mutual.

Also through their research, La Agencia de Orcí focused in on what Washington Mutual has labeled “anger makers,” or the hot buttons that will make a consumer leave or stay with a bank. For New Yorkers, the primary “anger maker” is the fact that, after a certain number of transactions, they are charged heavily for additional transactions.

La Agencia de Orcí’s Spanish-language campaign consists of two :30 TV spots, four :60 radio spots, print ads in weekly and daily newspapers, and OOH ads including billboards, urban panels at the street entrances to subways, subway interiors, walls, bulletins, bus shelters and buses. Many of the billboards and bulletins are designed to target New York’s heavy pedestrian traffic.

La Agencia de Orcí’s radio creative utilizes the “Theater of the Mind” format, a concept that Washington Mutual heavily emphasizes in its marketing communications. Through this concept the graphic descriptions and sounds in the radio spots enable the listener to clearly visualize the spot. The characters in the spots portray consumers who bring to life their experiences with the product in a humorous, unique way.

“Full Monty”
In one of the :30 TV spots, “Full Monty,” the concept of extra banks charges is visually demonstrated. The spot opens with a carefree guy (the hero) strutting through a busy street. As he walks he passes several people in their underwear, but he acts as if nothing is unusual about this. He finally arrives at “Big Bank” where the people exiting are all in only their underwear! As the hero enters the bank, he approaches a teller who, like a judge, sits above him. As he presents the teller with his transaction all of his clothes are instantly ripped off, leaving him only in his underwear. An announcer then asks, “Is your bank taking advantage of you?”

Through special effects, the room then begins to spin around our hero. The setting around him rotates to become Washington Mutual. The “Big Bank’s” dark, institutional look is replaced by the friendlier, lighter atmosphere of a Washington Mutual branch. The hero is now facing a friendly female Washington Mutual teller. The hero’s clothes snap back onto him miraculously. The announcer pipes in again with “Switch to Washington Mutual. Our free checking account really is free. Come live the difference.”

“The research we conducted for Washington Mutual on the New York Latino was very revealing,” states Jaime Ramírez, Vice President – Director of Client Services for La Agencia de Orcí & Asociados. “Our original creative makes sure we are addressing the special concerns and needs of the Latino consumer. As an example, the general market ads use the tag line “Another Small Revolution in Banking.” Our tag line, “Come Live The Difference,” has a more positive connotation. These subtle, yet important, modifications are crucial when a marketer is building a relationship with the Latino consumer.”

“From the beginning, we set out to convey Washington Mutual’s message through the use of comedy,” states Fidel Arizmendi – Associate Creative Director for La Agencia de Orcí & Asociados. “Considering that many NY Latinos view banks as cold and unfriendly institutions, the comedic tone of our Washington Mutual ads would help us reinforce the idea of a bank with soul. We knew that since most people in New York do not know the Washington Mutual brand at all, from the get-go we had to deliver the “un-bank” idea. We had to let them know that this was not business as usual. This was a different kind of bank, a bank where things revolved around you.”