Cites Rapid Increase in Region's Hispanic Population

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NEW YORK ( -- In its first major push at the Hispanic market, PNC Bank today launched an integrated advertising campaign aimed at young, upwardly
mobile Hispanics throughout the Delaware Valley states.

The Hispanic population throughout Pennsylvania, New Jersey and Delaware has increased by 67% over the past 12 years and is expected to grow 14.2% over the next five, which is seven times the area's total expected growth, according to the bank.

Younger target
The bank's new campaign takes into account that the target consumer is younger -- age 25 on average -- and has growing needs for banking services, said Lillian Young, vice president of strategic marketing and brand management.

The ad campaign is from MARCA Hispanic, Miami, an affiliate of independent MARC USA, and also pitches Hispanic small businesses, Ms. Young said. She noted Hispanics are, along with women, the fastest-growing groups of small-business owners.

With its latest effort, PNC joins a growing number of financial-services advertisers that are aggressively courting Hispanic consumers, mainly with retail products aimed at underserved communities. Companies such as Citibank and Bank of America are marketing products for recent immigrants without bank accounts, focused mainly on money-transfer services, hoping to eventually upgrade them to checking accounts, credit cards and mortgages.

Full gamut of media
PNC has tried limited Hispanic marketing in the past, mainly using translations of its newspaper advertising and with branch-level collateral and outreach in Hispanic festivals, Ms. Young said. This is the bank's first effort to use the full gamut of media, including TV, print, radio and outdoor. The TV effort includes media buys on local affiliates of the Telemundo and Univision networks, as well as sponsoring the late news on an independent Spanish-language station in the Philadelphia market.

Hispanic consumers want a variety of products beyond money transfers, Ms. Young said. They have needs for mortgages, retirement planning and saving for children's college education, the same as general market consumers, she said.

"They have the same goals ... no matter when they arrived in this country," she said. "We don't want them to have just a checking account."

The retail angle
As part of the retail angle, the initial TV ads focus on the PNC's free checking offering, but Ms. Young said further efforts will likely expand to more sophisticated instruments, such as investment products.

"There are a number of high-net-worth Hispanics out there," Ms. Young said. That segment may be addressed in the future, she said.

PNC will also upgrade its Spanish-language online presence later this year, when it completes an ongoing redesign of its Web site,


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