Chase pursues Hispanics with ads in Spanish
Chase Card Services has begun a multimillion-dollar campaign carrying the tagline "Confia en Ti. Confia en Chase," or "Believe in yourself, believe in Chase," to boost brand awareness and loyalty in the Hispanic market by delivering credit card product advertising in Spanish.
Television and Internet ads and corporate sponsorships are among the marketing channels that Chase Card Services, Wilmington, DE, is using. Chase Card Services is a business of JPMorgan Chase & Co., New York.
"The Hispanic market is a very sizable market that is growing, and it's a market that has been traditionally underserved from a financial perspective," said Kimberly Mesa, senior marketing manager for Chase Card Services. "Chase wants to be in the forefront of providing those types of services to these consumers. We thought it was the right time to make our brand known and relevant to this growing segment."
According to the U.S. Census Bureau, Hispanics are the nation's largest, fastest-growing ethnic segment at 43.5 million, or 15 percent of the U.S. population. That number is projected to reach 48 million by 2010. Purchasing power was nearly $736 billion in 2005 and is expected to approach $1 trillion by 2010, yet fewer than 45 percent of U.S. Hispanics have credit cards.
Chase worked with Lapiz, a leading Hispanic ad agency, to create TV advertising. Originally the Hispanic division of Leo Burnett USA, Lapiz established its own identity in 1999. Lapiz, which means "pencil," operates independently within Leo Burnett Worldwide, a Publicis Groupe Agency, and is based in Chicago.
Chase also worked with T3 (The Think Tank), an Austin, TX, integrated marketing services firm, to develop online ads and strategy.
The campaign reflects how Chase lets Hispanic consumers achieve more in life and have access to more opportunities. This message of empowerment is conveyed by using real-life situations through documentary-style cinematography and recognizable music.
Two Spanish-language TV spots began airing Oct. 3 during programs on Spanish-language networks Univision, Telemundo, Telefutura and Galavision. Also starting Oct. 3, ads with similar themes appeared on popular Internet sites AOL Latino, MSN Latino, Terra Online and Univision Online.
"We wanted to be online because it is a popular and growing media for this segment," Ms. Mesa said. "We've seen numbers that show this segment is bicultural, consuming both Spanish and English online media."
Chase Card Services previously had provided Spanish-language direct marketing materials and bilingual customer service for Hispanic customers, but had not advertised on Spanish-language TV networks or Web sites. And though the campaign is considered a branding effort, the bank also has ramped up its direct mail, off-site programs such as soccer events and events in local Chase branches.
"Chase has a significant Hispanic customer base, but now that we feel we really have the right customer experience to offer, we really felt that we were ready to get the word out broadly that Chase is an appropriate brand and credit card provider for them," Ms. Mesa said.