Wachovia has awarded its $150 million creative and media account to a WPP Group team led by Ogilvy & Mather after a review, reported AdAge. The incumbents were Mullen, Winston-Salem for creative and Carat, Boston for media.
It was a "good time for us to step back and see what else is out there, find out what we’re missing and see what other firms have to offer," Wachovia CMO Ranjana Clark told Ad Age in an interview in earlier this year.
After narrowing to a field of four agencies this summer, Wachovia eliminated agency teams Lowe and Universal McCann, and Merkley & Partners and OMD, in recent weeks. Ogilvy won in the end against WPP sibling Young & Rubicam.
Ogilvy will now serve as the lead agency, with Maxus for planning and buying, Neo for digital marketing and Soho Square for direct-mail card creative, said the story.
RBR/TVBR observation: Remember, once the financial/political mess is resolved banks like Wachovia will need to rebuild goodwill with current and new customers. This will be the same for all in the banking businesses. So now is the time to start making rounds to marketing departments to plan ahead. Your signal in radio and TV reaches local customers but the medium’s will have to learn how to integrate this voice into their local websites along with video.