Tom Carroll's Strategy of the Week:
September 13, 2018
We always tell our clients the best PR is to run a good company, an ethical operation, and then your story is a lot easier to tell. Well, Wells Fargo didn’t take our advice and opened millions (yes, millions) of fake accounts for unsuspecting customers. The company has paid the price in a PR disaster. Now Wells Fargo has launched a new ad campaign called, “Re-established 2018.” And now there’s “Re-committing to You,” which has a huge billboard on I-25. Here’s what’s going on: Wells Fargo is re-branding itself, with Established 1852, re-established 2018. Or in other words, we’ve been around a long time, but we’re now an ethical company again. Are people buying it? Time will tell. Big American corporations do have staying power, but they don’t usually try to defraud most of their customers. That’s the Strategy of the Week.
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