Bbva

BBVA Compass: Case Study

Jason Miller

Digital Marketing

February 9, 2014

Franklin University

BBVA Compass: Case Study

EXECUTIVE SUMMARY

The financial crisis that began in 2008 and peaked in 2010 put a strain on nearly every

bank throughout the U.S., and BBVA Compass was not an exception. Simply put, consumers

were saving more and spending less—a situation that is not favorable towards banks. Due to this

reality, BBVA Compass conducted a performance review of its marketing efforts and decided

the marketing budget for 2011 had to be the same or less than the previous year’s budget. The

ultimate goal was to allocate the limited budget in the most effective way.

The recommended course of action for BBVA is to increase its level of online advertising

as it is much more cost-effective than offline advertising. More and more consumers are going

online to obtain information, and BBVA could greatly increase its brand awareness with more

emphasis on its online marketing channels. With a limited marketing budget, BBVA needs to do

more with less, and focusing advertising efforts on digital strategies is going to be the key.

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BBVA Compass: Case Study

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BBVA Compass: Case Study

Statement of the Problem

After a series of recent acquisitions, BBVA Compass is now currently the fifteenthlargest commercial bank in the U.S. According to chief marketing officer, Frank Sottosanti,

however, the goal is become one of the top ten largest U.S. banks. But there is a major dilemma

that Sottosanti and other top executives are faced with—determining how to increase its

customer base with a limited marketing budget due to the recent financial crisis (Davies-Gavin &

Gupta, 2012).

Sottosanti has explained that BBVA Compass will remain in its current geographical

region, as that seems to be the area with the highest growth potential. BBVA is positioned as

regional bank, offering personal banking like a credit union while also being able to achieve...