The VP of Marketing Consumer Internet Services explains the role iMedia plays in the company's goal to meet customer's financial needs whenever and wherever they want.

One of the nation's largest banks, Wells Fargo, launched over the holiday season an Internet advertising campaign that featured an animated snow globe that grows and shakes, then fades into an image of the company's trademark stagecoach. The rich media campaign, which utilized a technology called "Shoshkeles" developed by New York-based United Virtualities, Inc., was just part of an overall general ad campaign designed to acquire new customers for the company's various banking products and services. To learn more about "Shoshkeles" and Wells Fargo's overall online advertising strategy, iMedia Connection interviewed Laura Kahl, vice president of marketing, Consumer Internet Services.

iMedia Connection: How does Wells Fargo view interactive marketing?

Kahl: Since 30% of our customers are online -- three times the industry average -- we view interactive marketing as a crucial medium to meet our online goals and to build successful marketing programs.

iMedia Connection: What typically are your goals in the online world?

Kahl: Our goals are building awareness, cross-selling, and deepening customer relationships. We want people to be aware that Wells Fargo provides a single, convenient source for key financial decisions. We also want to cross-sell products to our current Wells Fargo customers and build customer relationships by finding new ways to meet their financial needs.

iMedia Connection: What sort of digital marketing efforts have you typically used to date?

Kahl: Most of our interactive marketing efforts are focused on e-mails, banner ads, and online partnerships. Our e-mail campaigns are targeted to existing customers with the goal to increase loyalty and cross-sell new products. For banner ad campaigns, our 2001 strategy was focused on test-and-learn. We tested 34 sites and optimized down to eight strong performers that are working for us cost-efficiently. Our strategy is to explore different categories, determine the right mix of message and medium, and optimize based on our performance metrics. We advertise mostly on broad-reach sites because Wells Fargo products appeal to everyone. The next stage of anytime, anywhere banking is focused on seamless integration, enhanced ease-of-use and convenience for our customers.

iMedia Connection: How exactly do you determine your budgeting mix?

Kahl: We allocate our budget in the following ways. First, the majority of our budget is dedicated to proven performers. Then, we allocate the remaining dollars for testing new promotions, product initiatives, or lead generation programs. We're always looking for new and unique opportunities to demonstrate our breadth of financial product offerings and test new rich media advertising like Shoskeles.

iMedia Connection: Are you doing any cross-media campaigns?

Kahl: Yes we are. We use a variety of marketing channels-direct mail, print, TV, online- to generate awareness for Wells Fargo. Our seamless customer integration strategy allows customers to do their banking practically whenever and wherever they want - from walking into a store, using an ATM, calling our phone center, or going online.

iMedia Connection: What does online marketing need to do to mature as a medium?

Kahl: To mature as a medium, online publishers should offer solutions to meet marketer's needs. Most of the opportunities we see look interesting, but don't take into consideration our goals and objectives. We want publishers to talk with us, know our objectives, and then develop a program to meet those goals with a price that is in line with our metrics.

iMedia Connection: What is Wells Fargo doing to show success?

Kahl: Wells Fargo shows success in different ways based on our goals. Our goals are to cross-sell products, deepen customer relationships and focus on the customer. We strive to meet customer's financial needs whenever and wherever they want and to help them manage their money in one place. Most of the advertising we do is focused on brand awareness that we measure through internal and external branding. Our bricks-and-clicks strategy allows us to show success by tracking the influence of online to other channels including our branch and phone channel.

iMedia Connection: What's standing between traditional marketers embracing the medium and being afraid of it?

Kahl: Showing companies the difference between offline and online advertising efforts and how they can monitor interactivity more closely will help them see the value. Also showing past success rates and case studies will help to generate interest in the medium. In addition, offering first time online marketers the opportunity to do a test campaign with little investment, will give them some learnings risk free.