Wells Fargo Bank, Case Study Example

Wells Fargo is undeniably one of the largest and most successful financial institutions in the United States of America with its non-stop expansion and acquisition practices. In 2008 alone, Wells Fargo acquired its biggest competition. It cannot be denied that with the success of the company, Wells Fargo can easily detach itself from its clients without affecting its profitability and marketability. Yet, Wells Fargo remains to be customer-centric. Meaning to say, the journey that Wells Fargo chose to embark revolved around its customers. The company’s goal is to ensure that all the financial needs of its customers are very well taken-cared of. It is the agenda of the company to ensure that every transaction is a convenient, fast and successful experience for the end-users. Their integrated marketing carries a slogan assures the customers that the company will go far with their customers. Wells Fargo has successfully built a customer-centric culture within the company by utilizing the profile of their customers to better offer them the products and services they need. This is particularly imperative in the financial business or any other industries. Customers come first. There is a need to properly match the customers with the right products or services to guarantee loyalty, acquisition and maintenance of new client-base. Therefore, it cannot be denied that Wells Fargo understood the gravity of its work, its team and all its effort to deal with its huge clientele at a local level.

In order to ensure that the company is able to meet the financial needs of its clientele and potential customers, various products and services are being offered to consumers that range from personal banking to corporate business. Personal banking includes checking and savings options, debit cards, credit cards, loans and lines of credit that the consumers can take advantage from. On the other hand, corporate business services (local and international level) include payroll, merchant services, insurance, retirement, employee benefits and many more. Even with a wide range of service selections and huge client-base, the company is able to deliver top of the line customer service with the utilization of technologies such as business process simulation, online banking and 24/7 customer service. This only means that the company knows what to offer and how to please its clientele. It values the customers and sees them as the source of the company’s success.

With all the foregoing, it cannot be denied that Wells Fargo is a competitive community bank. It has the resources and the tools to help its customers succeed in whatever financial endeavour they may have. In addition, the customer-base of the company is not limited to the rich people but also includes the mass market and thus gaining a wider and bigger market share. Although there are competition in the markets in both small and large scale, Wells Fargo will remain one of the top and largest financial institution in the United States of America due to its marketing strategy. Not to mention that it has all the tools necessary in catering to various markets and clienteles. It is imperative to note that the key to a successful business is the customer. For as long as the company remain to be customer-centric it will continue to be one of the first choices for when it comes to banking both locally and nationally.