As we continue the work of integrating Wells Fargo and Wachovia, the issue of branding becomes especially important. While it's been stated that the Wachovia name will be gracefully retired in time, the interim period raises the question of how to properly use each company's logo without creating confusion for customers.
First and foremost, until financial centers are converted, the Wachovia name and logo will continue to be used on their own in almost every case, including branch signs, account statements, Web site content and all the rest. Since both companies continue to operate as separate businesses, it only makes sense to avoid complicating things by trying to use both logos together.
In fact, the header on our blog may be one of the very few places you'll ever see us publish both a Wells Fargo and a Wachovia logo side-by-side. Obviously, for the topic of our conversation it makes sense, but in general dual logos often prove confusing for customers trying to distinguish which company they are interacting with.
However, there will certainly be times along this long and winding integration road where it'll be necessary to leverage the strength of the Wells Fargo name in Wachovia-generated communications.
It's nice to know that Wells Fargo is being so thoughtful throughout this merger. With the general impetus in corporate America to put their brand on everything as quickly as possible, it's nice to see Wells Fargo taking a cautious and deliberate plan to combining the two banks in a way that minimizes the stress on consumers.
Good luck!
Banks merge all the time and customers are generally acquainted with the process. Because mergers aren't rare, there MUST be an existing template to accomplish the task. Just, PLEASE, PLEASE don't pay some advertising or "branding" consultant $$$ to re-invent the wheel. What customers want now are "old school" bankers, who know how to accomplish a task as efficiently and cheaply as possible.
Matt said: In fact, the header on our blog may be one of the very few places you'll ever see us publish both a Wells Fargo and a Wachovia logo side-by-side. Obviously, for the topic of our conversation it makes sense, but in general dual logos often prove confusing for customers trying to distinguish which company they are interacting with.
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Eastover asks: "confusing", in what way? Please explain?
Other than the fact that both have a name that starts with 'W' I don't see how anyone could be the least bit confused between the two, or who they are dealing with.
I would definately like to see Wells Fargo get rid of the Red, Yellow, and Black colors and adopt Wachovia's blue, green, and grey colors. It is so much more of a peaceful and calm environment when you walk into a Wachovia branch. Just a thought from someone who has banked on both sides.
Joey
@Eastover - Let's try to clarify...Our goal is to make the merger as easy as possible for our customers. Many customers, myself included, have accounts with both Wachovia and Wells Fargo. So until we are truly integrated - when things like call centers have access to all accounts - we want to make sure it's easy for our customers to use their accounts as they always have done. And that includes knowing which bank is communicating with you.
I agree with Joey. MUCH prefer Wachovia's color scheme though I doubt Wells Fargo will change theirs.
I understand the confusion of multiple brands, but i really wish the wachovia name/logo was retained. the wells fargo name and look seems too outdated with the red/gold. moreover the newer wachovia buildings have a very slick appearance with the logo shape incorporated into the building shapes.
I've been with the same bank for 19 years. However, it has changed names 3 times. Wachovia is the most recent of the "mergers" which have taken place around me with little or no effect in my daily life. I must say though, Wachovia has been my favorite of the three. The customer service alone far exceeds the last two banks. My main regret about this new merger is losing the Wachovia name and branding. Award-winning customer service is associated with the "brand" Wachovia. It seems like you would want to keep the name & brand associated with this service. I admit I have not been familiar with Wells Fargo and its brand. If I were a WF customer prior to the merger I might not want to lose that branding. But I do hope the blue and green of Wachoiva will be incorporated and the customer service will remain as award-winning.
Get rid of the Wachovia logo as soon as possible. Very thoughtful that you are considering it at all, BUT new bank.....out with the old and in with the NEW. No dual logos, mergers have happened and will continue to happen the public will adjust.
I agree with Tina (post from March 24).
Why not keep the banking subsidiaries branded as Wachovia (a Wells Fargo company), and the bank holding company as Wells Fargo & Co.? That way Wells can leverage and retain the great customer service that is Wachovia. This would be the best outcome. Otherwise when the Wachovia brand is retired the customer service will go along with it. It will--if you think differently, who are you kidding. Wells Fargo needs to approach this integration as a 'merger of equals' verses an acquisition. They would be wise to approach it as First Union did back in 2001.
I think the "gracefully retired" method of retirement will only confuse and frustrate customers. I say integrate the brands as soon as the operations are integrated. The sooner the better.
While Wachovia had a good run in history, let's all be clear: Wells Fargo is more superior than Wachovia ever was, and it's one of the most safest banks in the country!
Wells Fargo has a great place in American history, and the name and logo should stay. After all, companies like Western Union, and even American Express, have their roots in Wells Fargo.
Really, what has Wachovia done for America? Wachovia was always a small Carolina/Georgia based bank until First Union ACQUIRED them, but kept the Wachovia name. In that case, it was right to change the name and re-brand; however, Wells Fargo has a legacy that Wachovia cannot compete with.
I'm a long time Wells Fargo customer and will soon be moving to an area of the country were there are no WF branches but plenty of Wachovia branches.
It'd be very useful to know what the status of the integration is. For example, when will I be able to make deposits to my WF account on a Wachovia branch, etc.
So, is that all? Are there any more new media campaign ads telling people about the merger besides the blog and the TV ads? The other competition have already put up the "[Acquired Company Name], a [Acquirer] Company" up in the home page of their websites, so at least customers know that the companies are taking action.
Like many here, I think the Wells Fargo brand is far stronger than Wachovia's and there should only be one brand and logo for the new company. Since 1852 I think the name (and brand) has established itself well in this country and the business world and it has survived all these years by always adapting to its changing environment no matter what, a symbol of strength and endurance. I mean it survived the end of the Stagecoach service (when the railroads were introduced), the nationalization of its railroad network in 1918 (leaving it with just one branch), the Great Depression in the 30s, banking and S&L crisis of the 80s, and is now facing this current crisis head-on. It was also one of the first major banks to introduce online banking as we know it today.
MAYBE it should update its logo now becoming more of a national brand and acquiring some of that Wachovia legacy, but I would be happy if the name and StageCoach were here to stay. The Wachovia "waves" do look nice and maybe they could be introduced somewhere along.
Wells Fargo does have a great place in American history, which is why the name was retained when Norwest acquired Wells Fargo in the late 90's.
Having come from the old Norwest camp, it would not have been my decision to change the name at that time, but I understood leaderships decision to do so. For those coming from the Wachovia side, it should be evident the basis of retaining the Wachovia brand will not be an option. History does not speak for itself when comparing the two companies.
As for prolonging the dual brands, mergers happen all the time, and customers adapt quickly given proper communication is provided from the start. To delay the change, in my opinion, only lengthens the confusion and leads to the assuption the two companies will be maintained as separate entities, which is not the end goal here.
It would be sad to lose the Wachovia name. Isn't there some way to keep it? Wachovia has been known for so long for its excellent customer service. The name Wachovia makes one think of excellent customer service. you don't feel like just another number!
Jason (March 25), you're entitled to your opinion, but as many other people who have posted say - Wachovia has the reputation for customer service that Wells Fargo only wishes they had. And your argumant that Wachovia was aquired by First Union is ludicrous, knowing that Norwest aquired Wells Fargo is virtually the exact same way.
The dialog is moot here, in my opinion. The Wells Fargo branding and logo will be what lives on, and the Wachovia brand will be retired. Perhaps it's better if we just have a moment of silence and then move on...
WELLS FARGO has the MONEY; and they took over Wachovia; and they have a great reputation, along with a nice well known LOGO. So what is the problem : do away with the Wachovia signs and away we go.. W E L L S F A R G O
Good customer service won't go unnoticed under a new banner. If service remains stellar, old Wachovia customers will gradually associate the traditionally-great-service with the Wells Fargo name/brand. If the customer service begins to suck after the merger, the name doesn't really matter. The brand excellence is created through the customer service, not via the name, logo and/or color of your signs and letterhead.
Bring on the Wells Fargo branding/logo as soon as possible. This should be high priority.
Wachovia is the past. I'm one that wants my money to be in a Wells Fargo bank and have Branch, checkbook, ATM card and website to prove it.
I just found out that your Wachovia online banking and billpay are incapable with Microsoft Windows Internet Explorer 8. I cannot believe that Wachovia would let this happen. The only resolution your online help gave me was to switch Browsers, which is unacceptable. Anyone buying a new computer with Windows on it will have issues with your online and billpay web site. Is this the message you want to send to your customers?
For many Wachovia clients, bankers and former employees like me, there is a natural emotional attachment to the Wachovia legacy and brand.
However, as a professional my mission is to stamp the brand I represent in my territory as quickly as possible. In particular when the brand is associated with strength and endurance of difficult times.
In the Wachovia footprint, I would quickly move from printing the Wachovia logo accompanied by "A Wells Fargo Bank" disclaimer to the Wells Fargo Logo. On screen, I think visuals of the transition from Wachovia to Wells Fargo could be played out. Either by showing a map of the USA reflecting the red/gold color and blue/green by State were both had presence, changing to red/gold. Another could be starting with the Wachovia logo, transforming into horses and a stage coach followed by a swoosh like mirage as it travels from one logo to the other (coast to coast) while changing colors and ending inside the Wells Fargo logo. The narrator could use a play on shared words like "W" for Wealth or Worth of their Work Force (employees as the common asset shared by these two banks/brands) joining and changing to Wells Fargo here to stay and work for you (the clients, shareholders and communities).
Good luck!
I think the Wachovia colors of blue and green be used. Red and yellow are so harsh. Besides, there is already a 'red bank', Bank of America.
My name says it all.
Wachovia dug themselves a hole -- it's time to bury the name.
I bank at both Wells & Wachovia, & I must say, Both Companies have Wonderful Customer Service. I can't wait to see Wells Fargo on the wachovia buildings & such!
1852!
If the Wells Fargo Management team isn't fully aware of the legacy of the brand that they purchased...I'd question their intellect.
The whole "Stagecoach" branding is quite Western. I'd hope that the Wells Fargo brand would undergo a radical re-do. The red and yellow looks dated and dare I say: downscale.
So maybe you have to spend cash with Interbrand. I can almost guarantee that the Wells Fargo branding and stagecoach imagery will cause you to loose share in the east.
Be strategic. Rename the entire bank. You're no longer a bank on the western frontier. You're on Wall Street.
And ditch the Dollar General color scheme.
Regards
Maybe it's OmniBanc
Bring on the Wells Fargo signs,logo, and colors. They reflect traditon, history, resilience, and country. The sooner the better and get on with business.
As someone that lives on the east coast and has been banking with Wachovia for more than a decade, I can tell you that the Wells Fargo color scheme and logo would not be welcomed as much as some of you may think it would be. While it may be "traditional" to some of you, today's climate screams for change in all forms. The current look of Wachovia reflects that, looking much more up-to-date. In fact, it gives people the idea that Wachovia is more advanced and in-tuned to today's technology, which in fact they actually are. The information technology department at WF is years behind Wachovia's. In no way, shape, or form is Wells Fargo superior to Wachovia.
If they were to integrate them then that's fine, but to completely retire the Wachovia look and name would definitely be a mistake.
Don't forget that some of us at Wachovia were originally with First Union, and before that with Florida National Bank, and before that with... I forget.
I had never heard of Wachovia when they acquired First Union (or the other way around) and I had never heard of First Union when they acquired the Florida chain. At least I have heard of Wells Fargo and I was happy to hear that the merger would be with Wells rather than with Citi (nuff said about that!).
I'm more concerned about the inevitable changes to credit card numbers, checking account IDs and other such things that won't all happen with one swell foop.
Most important, as an investment account holder, I'm concerned about historical records (for securities purchase prices etc.) that might well get lost in the shuffle.
A few years ago I was shocked to find ther Wachovia had reported to the IRS that I had purchased a stock at $0 and of course sold it at a great profit when in fact I had sold it at a loss. The bank was of no help in straightening this out and I now face the same potential problem every April 15.
I'd take my business elsewhere if all the other banks computer systems were not in equally miserable condition.
Coming from a Wachovia family (particularly the MIS side), having grown up in Winston-Salem, I cannot fully express my dismay at the death of the company that started with the First Union merger. When I login to online banking and see that red stain on the Wachovia logo my heart sinks. I'm changing banks; the red is offensive, but through no real fault of WF.
It's unacceptable! I'm having the same problem and I cannot schedule my bills to be paid. I mean, I can't even get to the bill payment section!
Besides that, I tried to enable cookies on my internet explorer 8 and my userid is still being "forgotten", which means that I have to type it in every time I have to use Wachovia's online banking!
Would somebody please help us?