In 2007, America’s economy crashed and Bank of America’s corporate reputation suffered. Over the course of the Obama Administration, Bank of America worked diligently to reconfigure their public perception and rebuild the economy. Despite those efforts, influencers in Washington, New York and other major markets—the individuals who shape media, politics and policy—still didn’t believe Bank of America had changed since the financial crisis. Their negative reputation colored news coverage of the company and tainted their image in the eyes of all Americans.
Bank of America is among the world’s largest financial institutions, which means they have a vast breadth of work and responsibility, both of which is central to their bottom line, but also in their philanthropic giving and corporate social responsibility work. We were tasked with telling the full, correct story of the Bank in uncertain financial and economic times. Ultimately, we were markedly successful—shedding light on the true nature of the Bank and their good intent.
Precision started out by conducting a full audit of the causes that Bank of America supports. Through polling and opinion research, we identified key “change drivers,” that illustrate to our target audience the ways in which Bank of America has genuinely transformed since the financial crisis.
Precision worked with Washington Post’s Brand Studio to launch the “Responsible Growth Series,” a storytelling platform with the goal of not just talking about responsible growth, but illustrating what it truly means to grow the economy and create shared success for all Americans—an essential attribute that many influencers didn’t believe the Bank was capable of.
Over the course of the Responsible Growth series, and engaging other media partnerships like Axios’ Morning AM newsletter, Precision advanced a surround sound approach of clear and persuasive executive bylines, video content and social media amplification. We developed content highlighting the company’s commitment to growing responsibly under effective leadership, and how this strategy is helping define Bank of America as a global leader in clean energy financing, as well as investing in women entrepreneurs and in small businesses.
In capturing that story, we changed minds—and the positive results followed.
The Bottom Line:
Since Precision started developing public-facing content for Bank of America through our media partnerships and other channels, influencers increased their overall favorability of Bank of America by five percentage points.
Even more—the percentage of influencers who believe Bank of America has changed since the financial crisis increased by seven percentage points. The content we’ve developed with Washington Post has met or exceeded all Washington Post Brand Studio benchmarks—in some cases, Bank of America’s content received higher impact scores than the Washington Post’s newsroom content, particularly our piece “Women: The World’s Greatest Emerging Market,” is the best-performing piece of branded content ever launched by the Washington Post.
Precision’s role with Bank of America continues to expand beyond media partnerships and messaging to digital, executive visibility and video content development.
We’ve employed salient strategies and tactics to help Bank of America show that they are not only a good actor in the financial services industry, but they are leading the charge in how global banks do business—illustrating that good companies can also make good stocks.