Eastern Banks' social justice campaign is authentic to the brand, bank president says
America's oldest mutual bank, Eastern Bank, launched its latest ad campaign yesterday (March 8), inspiring customers to celebrate differences and rally others to join together to "create a movement' which, according to Bob Rivers, chairman and CEO of Eastern Bank, is more a story about social justice.
Upon its release, the ad created a bit of a stir in the Boston press, with the Boston Globe claiming it had anti-Donald Trump undertones and the news show Greater Boston asking the bank president if it was a risky move.
The ad appeared on a massive billboard in Boston, depicting two women wrapped in a multi-colored blanked with the slogan Good Unites beneath them.
The billboard is part of the overall "Join Us for Good Campaign," created by the bank’s longtime agency, Boston-based CTP. Rivers explained on Greater Boston television last night that Eastern Bank's story really is about social justice and "we think of the ad campaign as right and smart. We think about it as the right thing to do and the smart thing to do."
As a Massachusetts company in the social justice game, the president believes the ads also support a business case.
During last night's show, Tina Cassidy, executive vice president and chief content officer of Inkhouse, a public relations company that advises brands on social justice campaigns, suggested that while social justice campaigns can be good for business, they can also be bad for business.
"We are seeing a huge wave of activism which includes the grab your wallet campaign where people are leaving banks for conscientious reasons. Companies today are faced with making the decision to step out or stand back. For example, on International Womens' Day, Uber decided to stay mute, and they were criticized for it. So, brands have an important line to walk. I advise clients that they should be the brand they aspire to be and in keeping the message positive, it is hard for people to push back on that. As long as the message is positive, you are going to be OK."
In a nod to Eastern’s upcoming 200th anniversary in 2018, the bank will be giving away $200 to five-hundred randomly selected lucky winners who submit a selfie using #JoinUsForGood on Twitter or Instagram.
"We subscribe to the philosophy of inclusion which is all points of view, Rivers said. "The Join Us For Good is a tangible expression of our brand purpose and our commitment to doing things that help people prosper, the very reason we were founded in 1818.”