Wells Fargo's New Commercial

Wells Fargo is trying to rebuild its image after facing the scandal that it opened accounts for people who didn't request them and weren't aware they had them. Until now, we heard little from the company, except an email to some customers and a full-page ad with plans that seemed quite basic.

A new, short commercial focuses on three points: fully refunding those impacted, proactively sending new account confirmations, and eliminating product sales goals. 

These actions are a bit more specific than what has been communicated in the past. However, a skeptic like me might say these steps are still the bare minimum that the company can do for customers. Also eliminating product sales goals, which arguably caused the trouble because they were overly aggressive, should have been done years ago, particularly now that we know employees had reported issues but were ignored or retaliated against.

Discussion Starters:

  • Assess this commercial. Who are the primary and secondary audiences? What are the communication objectives? How well does the company achieve them?
  • Consider the language choices. The three actions aren't quite parallel. What other changes could be made?
  • What else should Wells Fargo do at this point to rebuild its image?